“When I look at the university and college systems around the country I see the newspaper industry.”
Glenn Reynolds shares a story today that should be troubling to a lot of today’s students.
Business Insider contributor Mark Cuban, chairman of HDNet and owner of the Dallas Mavericks, shares his thoughts on how to get the most out of a college education in the midst of a bursting “higher education bubble.”
I’ve been getting a lot of questions from High School kids asking whether or not they should go to college. The answer is yes.
College is where you find out about yourself. Its where you learn how to learn. Its where you get exposure to new ideas. For those of us who are into business you learn the languages of business, accounting, finance, marketing and sales in college.
The question is not whether or not you should go to school, the question for the class of 2014 is what is your college plan and what is the likelihood that your college or university you attend will still be in business by the time you want to graduate.
Still in business? Yep. When I look at the university and college systems around the country I see the newspaper industry.
The newspaper industry was once deemed indestructible. Then this thing called the internet came along and took away their classified business. The problem wasn’t really that their classifieds disappeared. It was more that they had accumulated a ton of debt and had over invested in physical plant and assets that could not adapt to the new digital world.
When revenue fell the debt was still there, as were all the big buildings they had purchased, all those presses they had bought and the acquisitions they had made declined in value, but the debt accumulated to pay for them never went away.
They were stuck with no easy way out.
The exact same thing is happening to our 4 year schools. You can’t go to a big state university and not see construction. Why ?
Why in the world are schools building new buildings ? What is required in a business school classroom that is any different than the classroom for psychology or sociology or English or any other number of classes ? A new library, seriously ? What is worse is that schools are taking on debt to pay for this new construction.
Think about this from a business perspective. Schools are seeing state and federal funding decline, as it should. Why should taxpayers be paying for another building ?
They are seeing their primary revenue source, tuition, once a number that was never really questioned, becoming a value decision by prospective students. As they should.