The Prof G Pod with Scott Galloway Long on Humanity
Apr 9, 2020
Tim Armstrong, a tech leader and CEO of DTX, shares insights on the evolving landscape of education and technology. He discusses the disparities in higher education, calling for disruption to address inequalities post-COVID. The conversation shifts to digital marketing's decline and its parallels to past economic crises, along with the rise of a direct-to-consumer economy that empowers individuals. Armstrong also reflects on mentorship, personal transformation through hardship, and the crucial role of tech in healthcare's future.
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Higher Education Caste System
- Higher education perpetuates a caste system, favoring wealthy children.
- The system grants access to top universities and jobs, concentrating wealth.
The Disruptability of Higher Education
- Universities raise tuition faster than inflation without increasing educational value.
- Their primary function is certification, not education, creating a luxury brand image.
Tuition Inflation
- Scott Galloway's MBA tuition at Haas was $4,000 in 1992, with a 25:1 tuition-to-starting salary ratio.
- Today, the ratio is closer to 1.4:1, highlighting the increasing cost of education.