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I agree. Colleges are screwed.
The elite ones aren't screwed. They'll be fine.
But their best days are behind them. Competitors will emerge, and they'll lose cultural dominance.
They're like a tech incumbent harvesting what remains of its monopoly, but no longer innovating
https://twitter.com/Noahpinion/status/1288174173441802240
The elite ones aren't screwed. They'll be fine.
But their best days are behind them. Competitors will emerge, and they'll lose cultural dominance.
They're like a tech incumbent harvesting what remains of its monopoly, but no longer innovating
https://twitter.com/Noahpinion/status/1288174173441802240
Colleges haven't had to sell the actual skill value prop before, because it's been bundled in with the rest of the experience (IRL friendships, networking, dating, coming-of-age, etc)
That experience is mainly gone now.
People will unbundle & rebundle https://twitter.com/eriktorenberg/status/1282803495939092481?s=20
That experience is mainly gone now.
People will unbundle & rebundle https://twitter.com/eriktorenberg/status/1282803495939092481?s=20
And yet they're still charging the same full 4 year program w/ full tuition.
Bootcamps like Lambda provide an alternative.
The choice is 1/ go into debt for 4 years of streaming, or 2/ do 9 months of streaming with zero debt & a ISA for the same outcome. https://twitter.com/eriktorenberg/status/1244320524525654016?s=20
Bootcamps like Lambda provide an alternative.
The choice is 1/ go into debt for 4 years of streaming, or 2/ do 9 months of streaming with zero debt & a ISA for the same outcome. https://twitter.com/eriktorenberg/status/1244320524525654016?s=20
Technical alternatives threaten university biz model significantly.
If you pull out the technical degrees, there goes most of the actual economic value.
Universities were already financially challenged before this all.
Foreign students were footing the bill, but now they won't
If you pull out the technical degrees, there goes most of the actual economic value.
Universities were already financially challenged before this all.
Foreign students were footing the bill, but now they won't
Ironically they are doing more and more teaching with adjuncts who get paid nothing and have no job security
What happens when professors have real alternatives, or are able to go D2C and decide to leave? https://twitter.com/eriktorenberg/status/1287512348769415169?s=20
What happens when professors have real alternatives, or are able to go D2C and decide to leave? https://twitter.com/eriktorenberg/status/1287512348769415169?s=20
B/C of COVID, nobody can go to class and the borders are closed.
So suddenly, there's a big hole in the operating budget.
So universities call the endowment to cover the gap, but the endowments were already over allocated to privates https://twitter.com/eriktorenberg/status/1243320368879681536?s=20
So suddenly, there's a big hole in the operating budget.
So universities call the endowment to cover the gap, but the endowments were already over allocated to privates https://twitter.com/eriktorenberg/status/1243320368879681536?s=20
Plus there is widespread dislike for their lack of viewpoint diversity & shift in telos
IIRC, the spread btw left & right used to be 6:1. Now it's 30:1
There is a segment of the university that has had a multi-decade attempt to prioritize activism. https://twitter.com/eriktorenberg/status/1241985678591705089?s=20
IIRC, the spread btw left & right used to be 6:1. Now it's 30:1
There is a segment of the university that has had a multi-decade attempt to prioritize activism. https://twitter.com/eriktorenberg/status/1241985678591705089?s=20
They're pretending that eliminating standardized testing won't dilute the credential
Relative to grades, SATs were an equalizer
Ppl had different access to resources, but everyone took the same test
What does it mean to get in to college anymore? What does it mean to graduate?
Relative to grades, SATs were an equalizer
Ppl had different access to resources, but everyone took the same test
What does it mean to get in to college anymore? What does it mean to graduate?
First step is sending fewer ppl to colleges, outside of top ones
Right now, the middle class goes into debt to be brainwashed, & told that it's capitalism's fault, not the entity that got them into debt originally
The next step is to build alternatives: https://twitter.com/eriktorenberg/status/1273012586737315840?s=20
Right now, the middle class goes into debt to be brainwashed, & told that it's capitalism's fault, not the entity that got them into debt originally
The next step is to build alternatives: https://twitter.com/eriktorenberg/status/1273012586737315840?s=20
