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zeynep's profile
zeynep tufekci
zeynep tufekci
zeynep tufekci
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@zeynep

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zeynep tufekciVerified account

@zeynep

Complex systems, wicked problems. Society, technology, science and more. @UNC professor. @NYTimes columnist. My newsletter is @insight: http://www.theinsight.org 

floating in a most peculiar way
theinsight.org
Joined August 2009

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    1. Aswin Punathambekar‏ @aswinp 4 Apr 2020

      Why are universities w/ multi-billion $$ endowments announcing wage cuts/freezes, hiring freezes, letting “non-essential” workers go, etc.? This article, shared by many folks already, goes a long way towards explaining things: https://bit.ly/2X8x8L3 

      4 replies 82 retweets 222 likes
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    2. Steven M. Bellovin‏Verified account @SteveBellovin 4 Apr 2020
      Replying to @aswinp @zeynep

      It's more than that. At Columbia, the Provost said that there are five main sources of income: endowment, fundraising, research funding, clinical income, and tuition—and right now, all are down. But in 2008, losses in the first two were offset by stability/gains in the other 3.

      1 reply 2 retweets 13 likes
    3. Aswin Punathambekar‏ @aswinp 4 Apr 2020
      Replying to @SteveBellovin @zeynep

      Thanks, Steve! One q'n: post 2008-09, have well-resourced universities tried to figure out ways to set aside funds for emergencies and crises? I understood it's not a simple matter of taking a few million from one source to take care of needs across every domain, but still...

      1 reply 1 retweet 5 likes
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    7. Steven M. Bellovin‏Verified account @SteveBellovin 4 Apr 2020
      Replying to @sivavaid @aswinp @zeynep

      Also, I just checked Columbia's last financial statement—more than half of the university's assets are encumbered by donor restrictions.

      1 reply 0 retweets 3 likes
      zeynep tufekci‏Verified account @zeynep 4 Apr 2020
      Replying to @SteveBellovin @sivavaid @aswinp

      That sucks, and that's terrible. Which is the point of the paper tweeted out—the endowment doesn't seem to be structured to keep the university thriving through thick and thin. It can grow and be boasted about, but not used in a crisis this grave? Then what?

      6:18 PM - 4 Apr 2020
      • 2 Likes
      • Naftali “Geriatric Millenial” Quartey Aswin Punathambekar
      2 replies 0 retweets 2 likes
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        2. Steven M. Bellovin‏Verified account @SteveBellovin 4 Apr 2020
          Replying to @zeynep @sivavaid @aswinp

          As I said, I'm not at all involved in any of this. I think that the simplest answer is that the financial structure was never engineered for this sort of crisis. Some is encumbered, dividend income will be way down next year, and the stock market has tanked.

          1 reply 0 retweets 1 like
        3. zeynep tufekci‏Verified account @zeynep 4 Apr 2020
          Replying to @SteveBellovin @sivavaid @aswinp

          I understand the limitations! But it seems terrible, to have an endowment that has grown by billions in the good years not cushion at least employment especially for the vulnerable during a crisis of this magnitude!

          1 reply 1 retweet 4 likes
        4. Show replies
        1. Aswin Punathambekar‏ @aswinp 4 Apr 2020
          Replying to @zeynep @SteveBellovin @sivavaid

          Following @zeynep’s response - it will be interesting to see if/how major univs decide to model this kind of a crisis into planning for the next 2-3 decades. If we'd like to see higher-ed be better than a random corporation, perhaps we can hope for some fundamental restructuring?

          0 replies 0 retweets 1 like
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