Mark Zuckerberg launched Facebook when I was in college. I used it – everyone used it.
Tod
That Which We Call a Law School
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This commentary is being provided to you as general information only and should not be taken as investment advice. The opinions expressed in these materials represent the personal views of the author(s). It is not investment research or a research recommendation, as it does not constitute substantive research or analysis. Any action that you take as a result of information contained in this document is ultimately your responsibility. Epsilon Theory will not accept liability for any loss or damage, including without limitation to any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Consult your investment advisor before making any investment decisions. It must be noted, that no one can accurately predict the future of the market with certainty or guarantee future investment performance. Past performance is not a guarantee of future results. Statements in this communication are forward-looking statements. The forward-looking statements and other views expressed herein are as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and there is no guarantee that any predictions will come to pass. The views expressed herein are subject to change at any time, due to numerous market and other factors. Epsilon Theory disclaims any obligation to update publicly or revise any forward-looking statements or views expressed herein. This information is neither an offer to sell nor a solicitation of any offer to buy any securities. This commentary has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Epsilon Theory recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.
I think an addendum to their resume would suffice. (Ie- "Cary School Of Law (Formally Penn Law)
LoL!
One of the things which isn’t discussed when looking at why Universities are so expensive is the effect of the end of the cold war and the focus away from nuclear weapons. There isn’t much written about it, because much of it is classified, but this article presents part of the story.
https://www.latimes.com/opinion/op-ed/la-oe-fihn-californias-central-role-in-nuclear-arems-race-20181024-story.html
The point is, post WWII and during the cold war, the government needed to fund research into weapons systems. Universities were major beneficiaries of this, but for many reasons, the universities didn’t disclose the source of their funding, nor did they disclose to many of the students working on that research. This research gave universities a great deal of funding that they had freedom to use. However, with the cold war ending, that funding spigot ended. So, funding from other sources had to be found.
The world is a complicated place and many people benefited in ways they never imagined. You are helping me wake up to some of these facts. Thanks.
“But here’s the thing: The university caved. Following community complaints, they changed the short name used on all materials back to Penn Law – at least for now.”
So, does the University have to give the $125 million back?
Government funding of this academic madness is a case of negative network effects. Ask any ethics professor in the law school and she will tell you this: what’s moral is what’s legal. Reply by asking what happens when what’s legal is for sale? A similar dynamic is at work with housing, food and healthcare. www.negativenetworkeffects.com
“In short, elite American universities and their associated professional schools are no longer selling an education. They are – like medieval guilds – institutions who operate in the interest of the members of the guild. Their priority is to protect and increase the value, prestige and perceived selectiveness of the license they confer – and to sell that increasingly scarce commodity at rapidly accelerating market rates…”
Presented without comment - a “promoted” Tweet in my Twitter feed today:
Harvard Business Analytics Program
@HarvardBizAn
This rigorous cross-disciplinary online program prepares leaders with the analytics, leadership, and strategy skills to drive better business outcomes. Complete in as few as 9 months. https://hbs.me/2pWvxKm
(Could not find a way to import a pic, but wanted to as the below is much more “impressive” emblazoned in Harvard Red as it was in the Tweet)
Harvard Business Analytics Program: Complete an Analytics Certificate in Nine Months
(end Tweet)
Okay, I lied, one comment: notice how they got “leaders/leadership” in there twice.
I think it was a (temporary) resolution that had to be negotiated with the donor.
There’s a lot to this, I think.
That is part of the problem with establishing big institutions as quasi-government program instead of the businesses that they are - no one actually thinks about shedding assets or slowing growth when a business line becomes less profitable, because they don’t have to. The idea that they didn’t HAVE to maintain and train such a large group of researchers and PhDs just never occurred to most schools.
Thanks for sending this, Mark! I’ll bring this up to Ben, who has an extremely relevant story worth sharing on our next ET Live event.
Couldn’t get the link to work, but yes, all sorts of features of our Fiat World, the Long Now and the transition toward competition games we write about are equilibrial states caused by what you could call negative externalities.
Not sure what’s happening with the link. Here’s Zero Hedge coverage https://www.zerohedge.com/personal-finance/whats-moral-whats-legal-and-whats-legal-sale