> The PhD system is a Ponzi scheme. First and foremost, a PhD program trains one to become a professor. During a professor career, one is expected to graduate 5

> The PhD system is a Ponzi scheme. First and foremost, a PhD program trains one to become a professor. During a professor career, one is expected to graduate 5, 10, 20 PhD students. In the US at least, a substantial proportion of professors teach at institutions that are undergrad-only or where only some departments have graduate programs. I am a tenured professor of computer science and have not supervised any graduate-level research (nor will I be expected to do so). ...which is not to say that the numbers aren't all messed up. They are. And I've had many lucky breaks (and also some unlucky ones) to get where I am. But your Ponzi claim presumes that the only outcome of a PhD is an R1 professor position, which is not the case.