My favorite is when other tech people (investors, etc.) stare at you blankly after comments like, "A PhD is like a startup in many ways."

But with less monetary potential and more pointless nitpicking.

Also you need to waste a lot of time writing a thesis (I'm talking about the nitty-gritty process of coming up with the words and fighting TeX or worse, MS Word) that essentially is worth the paper it's printed on.

(well at least Campus life is better than sharing a flat with 3 other people with questionable hygiene habits)

I apologize for my snark. I would genuinely like to hear about your grad school experience. Maybe I'm the outlier.