: Millennials are the most educated generation ever, and yet one in three recent university graduates persists in low-skill, low-wage work. The author argues that a form of “moral hazard” afflicts the higher education sector, where institutions that benefit from high levels of public subsidy are motivated by self-serving factors, to the detriment of preparing students for employment. Reflecting on his formative experiences writing and performing punk rock music and the long-lasting influence these experiences have had on his subsequent educational and career choices, the author posits that a form of “punk entrepreneurship” should be a mandatory part of all undergraduate programmes. He concludes by arguing for the deregulation of the UK’s higher education sector to encourage greater competition among providers, with a view to moving entrepreneurship from the periphery to the centre of the UK university experience.