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NevadaFan

New face of education in America...

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In 2017, Scott Galloway anticipated Amazon’s $13.7 billion purchase of Whole Foods a month before it was announced. Last year, he called WeWork on its “seriously loco” $47 billion valuation a month before the company’s IPO imploded. Now, Galloway, a Silicon Valley runaway who teaches marketing at NYU Stern School of Business, believes the pandemic has greased the wheels for big tech’s entrée into higher education. The post-pandemic future, he says, will entail partnerships between the largest tech companies in the world and elite universities. [email protected] iStanford. HarvardxFacebook. According to Galloway, these partnerships will allow universities to expand enrollment dramatically by offering hybrid online-offline degrees, the affordability and value of which will seismically alter the landscape of higher education. Galloway predicts hundreds, if not thousands, of brick-and-mortar universities will go out of business and those that remain will have student bodies composed primarily of the children of the one percent.”

https://apple.news/APrN7OpvPRoSR8s3QE-ii3A

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Honestly he may be right. And as much as I love universities and think that attending one in person is such an amazing rite of passage and growing and learning experience; the costs have just become too much. Forcing young people to begin their adult life with a huge pile of debt is doing a massive disservice to them.

 

If academics and government officials couldn't build an efficient system, then I'm sure big tech will be able to. Having major companies partner with schools would also likely help improve curriculum design (at least in technical fields).

 

As much as I think this whole corona-virus panic is crazy, it is certainly providing a much needed shakeup to some industries. It will be really interesting to see things play out in the upcoming years.

 

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11 minutes ago, bigd said:

Honestly he may be right. And as much as I love universities and think that attending one in person is such an amazing rite of passage and growing and learning experience; the costs have just become too much. Forcing young people to begin their adult life with a huge pile of debt is doing a massive disservice to them.

 

If academics and government officials couldn't build an efficient system, then I'm sure big tech will be able to. Having major companies partner with schools would also likely help improve curriculum design (at least in technical fields).

 

As much as I think this whole corona-virus panic is crazy, it is certainly providing a much needed shakeup to some industries. It will be really interesting to see things play out in the upcoming years.

 

Not sure you read but the experience will still be there for the most wealthy. The others will have more access to school because as you mentioned cost can be reduced at scale. 

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I wish I had ZOOM stock, the Wall Street Journal observed that "the hottest video-chat app right now is Zoom". It's used a lot in online education.

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We worship at the altar of capitalism to the point we are willing to throw the university system under the bus without asking why and how universities of charging so much money. Hint: It has nothing to do with the "free market"....

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32 minutes ago, Rebels2k3 said:

We worship at the altar of capitalism to the point we are willing to throw the university system under the bus without asking why and how universities of charging so much money. Hint: It has nothing to do with the "free market"....

It's interesting that you mention we worship capitalism, then argue it isn't the free market making universities so expensive? I don't understand your point...

I personally agree that it isn't capitalism, it's a simple feedback loop of easily attainable government loans/aid that is raising the prices.

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14 hours ago, bigd said:

It's interesting that you mention we worship capitalism, then argue it isn't the free market making universities so expensive? I don't understand your point...

I personally agree that it isn't capitalism, it's a simple feedback loop of easily attainable government loans/aid that is raising the prices.

 

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18 hours ago, bigd said:

It's interesting that you mention we worship capitalism, then argue it isn't the free market making universities so expensive? I don't understand your point...

I personally agree that it isn't capitalism, it's a simple feedback loop of easily attainable government loans/aid that is raising the prices.

The cost of education for students is rising because state funding is being reduced. Plus, I find it funny that people are mad that their AD isn’t funded better by the admin of said institutions — but then complain that student loans are the problem. Where exactly does money come from to pay AD debt when the state isn’t paying that bill?

There isn’t an easy answer to this problem. I’m glad there is finally blowback on the current system. But I do agree with you that it makes ZERO sense - for example - for someone from the state of Nevada to go to a Cal State University and spend $45K per year. Zero. And they can easily get that loan. And then bitch they have to pay it back. 

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Student debt exploded starting in the 80's...now look at this chart that shows fed and state edu funding compared to local funding. There is a reason Boomers paid peanuts for school while Millenials and Gen Z are being asked to mortgage their future. Prices go up, funding is flat or worse. Add in that real estate has become a much more popular investment tool since the 80's as well and you basically have your explanation as to why College and Living expenses for college students have increased so much. 

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1 hour ago, AztecSU said:

Student debt exploded starting in the 80's...now look at this chart that shows fed and state edu funding compared to local funding. There is a reason Boomers paid peanuts for school while Millenials and Gen Z are being asked to mortgage their future. Prices go up, funding is flat or worse. Add in that real estate has become a much more popular investment tool since the 80's as well and you basically have your explanation as to why College and Living expenses for college students have increased so much. 

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Agree.  Although many universities have overbuilt amenities to try and compete for top students as student numbers dropped.  Tax cut away but at the same time close or downsize your expenses like Universities.  Instead we just pass the costs on to the next generation and then bitch about them wanting to go to college

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44 minutes ago, Billings said:

Agree.  Although many universities have overbuilt amenities to try and compete for top students as student numbers dropped.  Tax cut away but at the same time close or downsize your expenses like Universities.  Instead we just pass the costs on to the next generation and then bitch about them wanting to go to college

Great point. This could also be attributed to the transition from direct funding to Stafford Loans...where students were empowered by loans they couldn't be denied and schools responded by competing...which then drove prices up further. The thing is, in a normal market you win with the right blend of price/quality, in edu it's basically all about quality/reputation, price is simply thought of as a barrier to the degree/career etc necessary to succeed after college. IOW, its not too different than the captive stadiums get at concession stands. This is why I believe free community college or greater state and fed support for trade schools would help create more of the kind of competition we all need, the kind that should in theory at least, apply some downward pressure on prices. 

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It will be a transition for sure My son is already teaching Logic and ethics this year online at University of Miami he will be teaching metaphysics in calls in the fall. However it all looks to be headed online. I suspect Brick and mortar  schools will onu have have sciences that require labs. I also expect a complete break with China  no more 300k students coming in.

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With the advent of technology, it’s unnecessary to be in a class room except for hands on learning like labs. With Skype and Zoom you can also interact with the professor and ask questions in real time. Online instruction is already big and it’s going to get a lot bigger. Universities are going to need to learn to adapt. 

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3 hours ago, steveem said:

It will be a transition for sure My son is already teaching Logic and ethics this year online at University of Miami he will be teaching metaphysics in calls in the fall. However it all looks to be headed online. I suspect Brick and mortar  schools will onu have have sciences that require labs. I also expect a complete break with China  no more 300k students coming in.

Then the foreigners are going to be paying full tuition at their more preferred schools, online.  Without limited classroom space no more impacted schools, right?  

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