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Bill Ackman, a hedge fund manager, gained fame for his aggressive short position against multi-level marketing company Herbalife. His strategy involved publicly shorting the company to affect the market's perception. The goal was to make the market adopt his position. Ackman's success in this short position and his reputation as a successful hedge fund manager have brought attention to his recent conflicts with top universities.
Recent conflicts involving Claudine Gay, the first black president of Harvard, highlight the challenges universities face in navigating the DEI (Diversity, Equity, and Inclusion) landscape while balancing pressures from donors. The controversy arose from Gay's congressional testimony that failed to condemn genocidal statements made by students. Donors, including Jewish donors, expressed concerns over the university's inability to address these issues, which led to Gay's resignation. This conflict has highlighted the disconnect between universities' DEI priorities and the expectations of their donor base.
Bill Ackman's recent conflict with Harvard and MIT illustrates the power of influential figures in effecting change within higher education. Ackman's success in pressuring the resignation of university leaders showcases the potential for donors to influence university policies. Ackman's focus on plagiarism accusations against university presidents and faculty members speaks to his broader aim of challenging the academic establishment and its prioritization of DEI over academic integrity. While the impact of Ackman's actions on long-term change remains uncertain, his efforts have intensified the scrutiny on universities and their handling of key issues.
Disrupting established universities like Harvard and Stanford is difficult due to their strong networks and credibility. The government should stop subsidizing higher education, allowing the market to determine value. Private debt and bankruptcy options could help regulate student loans based on practical career prospects. University endowments, such as Harvard's, should be taxed since they receive government benefits and have significant funds. A free market approach, with accreditation and regulations, would encourage innovation and diverse ideological perspectives in higher education.
AI tools like LLMs have the potential to revolutionize education by providing access to vast knowledge bases and offering personalized perspectives. The internet enables independent learning beyond the traditional university curriculum. Market-based incentives can help determine the value of different majors, while universities focus on credentials and networks. The university system may continue to exist, but the relevance of traditional education may diminish as AI tools become more advanced and accessible, allowing individuals to curate their own personalized learning experiences.
Dan Romero and Erik Torenberg talk about what's happening between Bill Ackman and Harvard: they touch on the 10-7 movement and the focus on DEI in universities, the future of education and the challenges of disrupting elite schools, the value of credentials, and more. Moment of Zen is sponsored by Shopify: https://shopify.com/momentofzen for a $1/month trial period.
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RECOMMENDED PODCAST: History 102 with WhatifAltHist
Every week, creator of WhatifAltHist Rudyard Lynch and Erik Torenberg cover a major topic in history in depth -- in under an hour. This season will cover classical Greece, early America, the Vikings, medieval Islam, ancient China, the fall of the Roman Empire, and more.
Subscribe on Spotify: https://open.spotify.com/show/36Kqo3BMMUBGTDo1IEYihm
Apple: https://podcasts.apple.com/us/podcast/history-102-with-whatifalthists-rudyard-lynch-and/id1730633913
YouTube: https://www.youtube.com/@History102-qg5oj
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Check out Erik's new show Request for Startups featuring a rotating cast of founders and investors (including Dan) sharing their requests for startups they want to exist in the world, and also their stories of navigating the idea maze in different sectors so founders don’t have to reinvent the wheel anymore. The first episode is out now - we over better dating apps, references as a service, and WeWork for productivity
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SPONSORS: BEEHIIV | SHOPIFY | NETSUITE
BEEHIIV
Head to Beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝to https://Beehiiv.com and use code "MOZ" for 20% off your first three months.
SHOPIFY: https://shopify.com/momentofzen for a $1/month trial period
Shopify is the global commerce platform that helps you sell at every stage of your business. Shopify powers 10% of all e-commerce in the US. And Shopify’s the global force behind Allbirds, Rothy’s, and Brooklinen, and 1,000,000s of other entrepreneurs across 175 countries. From their all-in-one e-commerce platform, to their in-person POS system – wherever and whatever you’re selling, Shopify’s got you covered. With free Shopify Magic, sell more with less effort by whipping up captivating content that converts – from blog posts to product descriptions using AI. Sign up for $1/month trial period: https://shopify.com/momentofzen
NETSUITE: http://netsuite.com/zen
NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen and download your own customized KPI checklist.
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Sign up for our newsletter to receive the full shownotes: https://momentofzen.substack.com/
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X / TWITTER:
@eriktorenberg (Erik)
@dwr (Dan)
@moz_podcast (Moment of Zen)
@TurpentineMedia
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TIMESTAMPS:
(00:00) Introduction to Bill Ackman
(05:50) Bill Ackman vs. Harvard and MIT
(17:30) On how 10/7 relates to DEI
(26:08) The power of Twitter and social media
(33:46) Curtis vs Chris Rufo
(40:36) The future of education and disrupting universities
(44:52) Disrupting Harvard and Stanford
(51:50) The value of credentials
(56:41) Why higher education is so corrupt
(01:02:25) Wrap
This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.
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