473: Scott Galloway | From Crisis to Opportunity Post Corona

Enrollment

Scott Galloway highlights the pressing need to increase college enrollment and acceptance rates, emphasizing the role of public universities in driving change. He criticizes prestigious institutions like the Ivy League for prioritizing exclusivity over accessibility, noting that public universities like Florida State and Ohio State graduate more students than the entire Ivy League combined 1. Galloway argues for a combination of federal funding and technology to double admissions rates while reducing costs, suggesting that online courses could significantly expand capacity without compromising quality 1.

The bigger issue is we need to dramatically increase enrollment in acceptance rates. And we talk about the Ivy league. The Ivy league see themselves as luxury brands. They have lost the script.

--- Scott Galloway

He shares personal anecdotes to illustrate the challenges faced by students today, contrasting them with his own experiences of gaining admission to prestigious schools despite not having exceptional credentials 2.

   

Free College

Galloway challenges the notion of free college, arguing that it primarily benefits wealthier students rather than those in need. He points out that most college attendees are from upper-middle-income or wealthy families, who do not require free education 3. Instead, he advocates for making college affordable for all qualified individuals, suggesting that some level of student debt can instill valuable traits like grit and determination 3.

I don't believe in free college nor do I believe in a Marshall Plan or to pay off student debt. And for the following reasons, the majority free college from the Bernie Sanders, Senator Warren or Senators Warren and Sanders call for free college is again, and Democrats are just as guilty of this as Republicans and other transfers of money from the poor to the rich.

--- Scott Galloway

He criticizes the current education system for perpetuating wealth inequality, noting that decreasing admission rates transfer wealth from the poor to the rich 4. Galloway suggests taxing universities with rapidly growing endowments that do not proportionally increase their admissions, as they function more like hedge funds than educational institutions 4.