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Some of these institutions are extremely rich, especially the type of academic institutions companies like OpenAI are most eager to recruit from.

by Gud 3y ago

jltsiren 3y ago
That doesn't really matter. Nobody wants to pay more simply because they are rich. They may want to pay more if they stand to gain something from the investment. AI research is a poor investment for a university, because it's expensive and highly competitive. The university will likely gain more prestige by investing the money in other fields.
- whatwhaaaaat 3y ago
  Interesting viewpoint since a university should be spending money on the pursuit of knowledge for the sake of knowledge and not profit. The whole notion that universities should be profiting in some personal form from research conducted at and for the institution is a rot on modern academia.
  - jltsiren 3y ago
    An investment is an investment, regardless of whether it is expected to yield money, prestige, or knowledge. If a dollar spent on biological research produces more knowledge than a dollar spent on AI research, it makes more sense to spend that dollar on biological research.
  - fragmede 3y ago
    It is, but unfortunately, pure knowledge, shared freely, isn’t going to be able to pay the bills. Academia is a world separate from the rest of society sometimes, but it still exists in a world that runs on money. Food, power bills, taxes, rent; they all need to get paid. Even that big institutions like Harvard with unfathomably large endowments still have bills to pay and that’s the mindset that people still operate under. If they were able to make a new society, free of money then they could avoid the need to profit. But we tried that and human nature got in the way. so we’re left with the unfortunate reality that universities do see a need to profit. I don’t disagree that it’s a rot but I don’t see how it could be any other way.
rKarpinski 3y ago
Apple, Alphabet, Amazon, Microsoft, Meta each individually have more cash & equivalents on hand than the richest school Harvard has in its entire endowment ~50B [2] (most of which is not liquid) [1] https://www.investors.com/etfs-and-funds/sectors/sp500-companies-stockpile-1-trillion-cash-investors-want-it/ https://www.investors.com/etfs-and-funds/sectors/sp500-compa... [2] https://en.wikipedia.org/wiki/List_of_colleges_and_universities_in_the_United_States_by_endowment https://en.wikipedia.org/wiki/List_of_colleges_and_universit...
- EduardoBautista 3y ago
  And yet universities can afford to pay millions of dollars to football and basketball coaches.
  - rKarpinski 3y ago
    because those programs directly generate high eight to 9 figures a year in revenue, and also drive alumni donations & new admissions.
- bawolff 3y ago
  They have more cash than most countries

Some of these institutions are extremely rich, especially the type of academic institutions companies like OpenAI are most eager to recruit from.

by Gud 3y ago

Some of these institutions are extremely rich, especially the type of academic institutions companies like OpenAI are most eager to recruit from.

jltsiren 3y ago

That doesn't really matter. Nobody wants to pay more simply because they are rich. They may want to pay more if they stand to gain something from the investment. AI research is a poor investment for a university, because it's expensive and highly competitive. The university will likely gain more prestige by investing the money in other fields.

whatwhaaaaat 3y ago
Interesting viewpoint since a university should be spending money on the pursuit of knowledge for the sake of knowledge and not profit. The whole notion that universities should be profiting in some personal form from research conducted at and for the institution is a rot on modern academia.
- jltsiren 3y ago
  An investment is an investment, regardless of whether it is expected to yield money, prestige, or knowledge. If a dollar spent on biological research produces more knowledge than a dollar spent on AI research, it makes more sense to spend that dollar on biological research.
- fragmede 3y ago
  It is, but unfortunately, pure knowledge, shared freely, isn’t going to be able to pay the bills. Academia is a world separate from the rest of society sometimes, but it still exists in a world that runs on money. Food, power bills, taxes, rent; they all need to get paid. Even that big institutions like Harvard with unfathomably large endowments still have bills to pay and that’s the mindset that people still operate under. If they were able to make a new society, free of money then they could avoid the need to profit. But we tried that and human nature got in the way. so we’re left with the unfortunate reality that universities do see a need to profit. I don’t disagree that it’s a rot but I don’t see how it could be any other way.

rKarpinski 3y ago

Apple, Alphabet, Amazon, Microsoft, Meta each individually have more cash & equivalents on hand than the richest school Harvard has in its entire endowment ~50B [2] (most of which is not liquid) [1] https://www.investors.com/etfs-and-funds/sectors/sp500-companies-stockpile-1-trillion-cash-investors-want-it/ https://www.investors.com/etfs-and-funds/sectors/sp500-compa... [2] https://en.wikipedia.org/wiki/List_of_colleges_and_universities_in_the_United_States_by_endowment https://en.wikipedia.org/wiki/List_of_colleges_and_universit...

EduardoBautista 3y ago
And yet universities can afford to pay millions of dollars to football and basketball coaches.
- rKarpinski 3y ago
  because those programs directly generate high eight to 9 figures a year in revenue, and also drive alumni donations & new admissions.
bawolff 3y ago
They have more cash than most countries