Future U Podcast - The Pulse of Higher Ed Live from Milken: One-on-One with Bill Ackman
May 9, 2025
Bill Ackman, an influential investor and Harvard alum, shares his candid critiques on higher education. He highlights governance challenges at Harvard, raising concerns about federal funding mismanagement and free speech issues. Ackman dives into fairness in admissions, questioning historical quotas and advocating for a more equitable system that considers socioeconomic backgrounds. He calls for reforms to emphasize personal traits over standardized tests, challenging the value of elite institutions amidst growing demands for change.
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Critique of DEI Ideology
- Bill Ackman supports diversity and equity but criticizes DEI ideology as illegal and racist in parts.
- This has triggered significant pushback at government and corporate levels against universities.
Federal Funding as Privilege
- Federal funding to universities like Harvard should be viewed as privilege, not a right.
- Ackman argues Harvard wastes federal money and fosters a toxic campus environment, questioning taxpayer funding.
Harvard Board's Governance Problems
- Harvard’s board is self-selecting and insular, unlike public corporations where boards can be replaced by shareholders.
- This insularity, combined with poor financial management, risks Harvard’s long-term survival.