To kick of this week's virtual ASU+GSV Education Summit, they asked NYU Stern business school professor Scott Galloway to set the stage for education in a time of COVID. And he doesn't disappoint in identifying how warped higher education has become in valuing the wrong key metrics - such as admission rates and failing to address the disparity in administrator compensation and the tuition cost of education. There is much more in this video:
https://virtual.asugsvsummit.com/2020/agenda/session/352440
The video is full of excellent information and scathing opinion:
- NYU boasts that it turns away 89% of applicants - that's like a shelter saying they turned away 9 of 10 homeless people last night
- Higher Education is an "agent of caste" in the US (and not in a good way)
- Stanford is basically run as a hedge fund and should be taxed that way
- Administrators are on a march to 'reduce accountability and increase compensation'
- Equates the top US schools to luxury brands which adopt scarcity as a key component of their business model
- Harvard sells the most expensive content streaming service (at $49,000) the world has ever seen
Well worth a listen.
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