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Love this: In early September, endowment officials announced that they had lost $10-billon, a 27-percent drop... Vanity Fair sent a reporter to Cambridge this y
by kakooljay 17y ago
Love this: In early September, endowment officials announced that they had lost $10-billon, a 27-percent drop... Vanity Fair sent a reporter to Cambridge this year to assess the damage. She was told that the university had lowered thermostats by four degrees and would no longer be serving free coffee [because their endowment was "only" ~30 billion].
Btw, endowment or no endowment, Harvard is not in business to give away free degrees. Indeed 10 to 15 percent of students in any given class at Harvard are legacies, who pay a LOT for a Harvard undergrad degree, which, by the way, isn't worth as much as people think..
http://slate.com/id/2112215/ http://slate.com/id/2112215/
- maximilian 17y agoThey pay as much as anybody going to a private school. Many state schools charge just as much for an out of stater. If you are gonna spend that much money, you might as well go to a great school if you can.
- dschobel 17y agoThat article hinges entirely on defining success as reaching a c-level position at a fortune 100. The diminishing presence of ivy leaguers could just as well indicate a shift in priorities by the kids or the fact that the really big money was in private hedge-funds for the better part of the last decade.
- ryanwaggoner 17y agoDid you read the article? That's precisely what it posits in the last couple of paragraphs.
- dschobel 17y agoYou're absolutely right, I made a mistake. You were the one equating worth with a c-level position (which is unsubstantiated by the article) not the author. My apologies for the confusion.
- ryanwaggoner 17y agoYou've made another mistake: I wasn't the one who made the comment you responded to.
- dschobel 17y agoSo your role in all this is to defend his erroneous point?