Sir Ken Robinson talked at the 2006 TED conference about 'academic inflation' (my post is here). Put simply, the value of an academic degree has declined as the need for educated people has increased.
The problem is not the degree; it is what students are taught. This 30 second video takes a jab at an educational system that teaches students to avoid situations where they may make a mistake. Mistakes are critical to making better decisions; how else can we learn?
The young executive in the video is not being a snob about working in the mail room--as the video implies--he is afraid he will screw it up.