Hadi PartoviVerified account

Fascinating and rather detailed prediction about how covid-19 will precipitate a complete upheaval of the overpriced US university system. https://nymag.com/intelligencer/2020/05/scott-galloway-future-of-college.html …

“Coronavirus is forcing people to take a hard look at that $51,000 tuition they’re spending. ‘Wait, my kid’s going to be home most of the year? Staring at a computer screen?’ There’s this horrific awakening of just how substandard and overpriced education is at every level.”

“When will there be a reckoning? It has to come before classes begin this fall. Over the next six weeks, when we realize that the deposits and registrations for the fall are down 10 to 30 percent.”

“We charge them $7,000 per student. That’s $1.2 million that we get for 12 nights in a classroom. $100,000 a night. The gross margins are between 92 and 96 points. There is no other product in the world that’s been able to sustain 90-plus points of margin for this long.”