The Collapse of the Ivory Tower: How to Fix The Higher Ed Crisis
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Transcript of The Collapse of the Ivory Tower: How to Fix The Higher Ed Crisis
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
@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.
