The Collapse of the Ivory Tower

How The State Created the Higher Ed Crisis and How to Break Its Stranglehold on Success

$1,335,172,859,631Outstanding Student Loan Debt as of 1:55 PM, 2/8/15

Greater than outstanding auto debt and outstanding credit card debt

So what?

So what?How did we get here?

So what?How did we get here?

How do we fix it?

The Purpose of College

Why do people put themselves through this?

Education?

The Purpose of College

Why do people put themselves through this?

Education?

Fun?

The Purpose of College

Why do people put themselves through this?

Education?

Fun?

Networking?

The Purpose of College

Why do people put themselves through this?

Education?

Fun?

Networking?

A Job

How did we get here?

1. Inception

College was essentially a 4 year summer camp for the wealthy. A training ground for aristocracy.

Pre Greatest Gen.

2. Middle Class Mimetics

The Middle Class mimics the paths and courses of the wealthy.

The wealthy went to college.

Therefore, they should go to college if they want to be wealthy.

Greatest Gen.

3. GI Bill Overconsumption

The GI Bill made college a feasible option for many middle class families enamored with the idea of college as an option to get ahead.

Employers put more weight in degrees to differentiate candidates as K-12 education becomes near-universal.

Boomers

4. Inflation

As more employers require degrees to differentiate candidates, politicians push more aid to college and the pressure to attend increases.

In order to differentiate candidates, employers raise degree requirements.

Universities raise costs as incentive to attend rises.

Rent-seeking via professional certification increases incentives

Gen X, Y

Degree Inflation is Out of Control

The US now has more janitors with chemistry degrees than it has chemists.Source: Richard Vedder, Center for College Affordability and Productivity, “Twelve Inconvenient Truths About American Higher Ed.” http://files.eric.ed.gov/fulltext/ED541358.pdf

This is what we’re subsidizing?

Golf Management

Puppetry

Demystifying the Hipster

Zombies in Popular Media

Patternmaking for Dog Garments

Juggling

Meanwhile, young entrepreneurship suffers

"The result of making college the canonical path for the ambitious was a world in which it was socially acceptable to work for Henry Ford, but not to be Henry Ford."

Paul GrahamFounder, Y Combinatorpaulgraham.com/re.html

Gov’t Created This Mess

Professional Certification

Student Loans

Cheap Credit

GI Bill

Visa Requirements

How do we fix this?

Two OptionsThis is not sustainable.

Two OptionsThis is not sustainable.

1. Degree Inflation to the Moon!

Two OptionsThis is not sustainable.

1. Degree Inflation to the Moon!2. Build a Better Signal

Build a Better Signal

www.discoverpraxis.com

The Praxis Signal

Is not a brand! It is the individual’s own signal.

Past participants have:

Launched companies

Made $1M+ in sales

Run major marketing depts

Bypassed college altogether

Your Choice.Are you going to live indefinitely

or build your life?

Contact

zachary@discoverpraxis.com

@zslayback

facebook.com/zslayback

LinkedIn.com/in/zslayback

zakslayback.com

I am local.

Let me know if you would like to grab

coffee and discuss these ideas.