Rami Baassiri

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Peter Thiel: In the future, university will be a luxury good. Do you agree ?

Peter Thiel: Before long, spending 4 years in a lecture hall with a hangover will be revealed as an antiquated debt-fueled luxury good

Peter Andreas Thiel is a German-born American entrepreneur, venture capitalist, and hedge fund manager. Thiel cofounded PayPal with Max Levchin, and later, Elon Musk, and served as its CEO. He also cofounded Palantir, of which he is chairman.

Do you agree with him?

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    Mar 19 2014: Absolutely not. On the contrary, education is becoming a commodity, not a luxury good. I just read an article in today's New York Times that made that very claim

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      Mar 25 2014: An MBA at Harvard Business School.....I think not. However, I don't believe they impart superior knowledge or skill, they would like to make you believe they do, but the list of business contacts most probable pays for itself.
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    Mar 19 2014: institutional education has long been like the sneetches with stars upon thars (Dr Suess). education is not an open, even playing field; it's more like a club.

    you buy your credentials and little else.

    "they send you off to college to gain a little knowledge but all you want to do is learn how to score" Pencil Thin Moustache, Jimmy Buffet ;)
  • Mar 23 2014: Isn't it already a luxury good? If you aren't born into a wealthy family or able to carry the burdenof enormous debt in the form of student loans, college is not an option. Even with the recent "loan bill" the cost of tuition coupled with interest rates are prohibitive and the bill isn't a permanent fix "The compromise is a good deal for all students through the 2015 academic year. After that, interest rates are expected to climb above where they were when students left campus in the spring, if congressional estimates prove correct for 10-year Treasury notes." Most of us here in the U.S. never have the option of higher education despite all the rhetoric about this being the land of opportunity.
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    Mar 22 2014: One of the TED speakers this year shared his ongoing program University of the People, which is completely online, accredited, and offers a Bachelors in either Business Administration or Computer Science for $4000 total ($100 per course for forty courses).

    Because the goal is to make that education available to any high school grad with an internet connection, they also offer financial aid.
  • Mar 21 2014: I believe in the future university campuses will become much smaller, more specialized, more like a R & D centers with complete media access to anyone, anywhere and quite possibly the professors replaced with robots. So, if the professors want to have a job they better learn to program robots and sooner than you think.

    Case in point: Watson is already smarter and more likable than most professors.
  • Mar 20 2014: The question is wrong.
    We need to restore and re-specialize the university and greatly expand NON-university style education (and access to it).
  • Mar 20 2014: This may easily come to pass as long as the current inequality between rich and porr persists. It may happen that state funded university education as practised in some countries in Europe where the education is basically free may simply become too expensive for the government to fund. The reason for this is the extreme lack of government revenue which is mostly taxes. Over the last 30-40 years and with the ability of various corporations to build their headquarters in countries which are either corrupt or tax free, these same corporations have been able to avoid paying large amounts of tax within the countries where most of products are sold, that is, the west - Europe, US etc. It has been found out that something like 48% of the tax income of the western governments is now missing because they are no longer paid by these corporations. The consequence is a system whereby the government can no longer afford basic social, education and medical services for free as was the case in most western democracies (other than the US). So, an education now costs a vast amount of money forcing people into long term debt. It does not have to be this way but will most likely persist as the main governments of the west do not have the courage to deal with the powerful corporations.
  • Mar 20 2014: Yes, either that, or it will become dumbed down to the point that it's a joke.
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    Mar 20 2014: No, the only thing that will keep you sequestered in the future will be your unwillingness...
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    Mar 26 2014: Universities are here to stay; the internet with all its online courses is no match for the discipline of the university system and the community of intellectuals it provides.

    And I would think twice before I trust a medical doctor with an online certificate (if ridiclousness gets that far) with my health.
  • Mar 25 2014: In a word, NO. There are many cheaper ways to go to school and get the degree. For example, go to a good 2 year school and get the basics down well. Transfer to a good in state school where the tuition is lower. The cost of living can be covered by living at home or sharing a house.

    I know several had the military put them through school. They had to sign up for more years. Just because a school does not cost much, does not mean it is not good and even a lower level schools can give an individual a good education if they apply themselves. The problem is that the level of other students could be lower. Check out schools many have not heard about - for example Coopers Union has free tuition and is an excellent school. For a two year look at Deep Spring which has no tuition and no living expenses. The school is run by the students and professors who all living together. All Deep Spring students transfer to top level institutions.

    I had 2 friends both get their phd's in the Navy, one in meteorology the over in nuclear engineering.
  • Mar 24 2014: My name is Marlin Tayeb the only child of Mr Tayeb El , I am single from Libya and presently i am residing in the refugee camp here in Burkina-Faso as a result of the civil war in my country Libya.My late father Mr Tayeb El Safi was the personal assistant to the ex Libyan leader Muammar Gaddafi but was assassinated by the rebels during the civil war and properties destroyed and i managed to make my way to near by country Burkina Faso where i am leaving now as a refugee under the (UNHCR).Honestly my day's is not so Good since i came over here in Burkina Faso In this prison called refugee camp.Its just like one staying in the prison and i hope by Gods grace i will come out here soon I don't have any relatives now whom i can go to all my relatives ran away in the middle of the war the only person i have now is Rev.Donald petters who is the pastor of the (Christ for all Churches) here in the camp he has been very nice to me since i came here but i am not living with him rather i am leaving in the women's hostel because the camp have two hostels one for men the other for women.The Pastors Tel number is +226-64816396 begin_of_the_skype_highlighting +226-64816396 end_of_the_skype_highlighting if you call tell him that you want to speak with me he will send for me in the hostel. As a refugee here i don't have any right or privilege to any thing be it money or whatever because it is against the law of this country.I want to go back to my studies because i only attended my first year before the tragic incident that lead to my being in this situation now took place.
    Please listen to this,i have my late father's statement of account and death certificate here with me which i will send to you latter,because when he was alive he deposited some amount of money in a leading bank here in Burkina-Faso which he used my name as the next of kin,the amount in question is $9.7M(Nine millon seven Hundred Thousand Dollars) So i will like you to help me transfer this money to your acco
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    Mar 21 2014: Yes, and perhaps it should be.
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    Mar 21 2014: YES, Rami! Without college loans, how many high school graduates can afford to go to a four-year college or university?

    "The skyrocketing costs of college can lead a parent to wonder if an investment in higher education still makes sense. This is especially true when the annual cost of attending a private college can easily exceed the annual salary a graduate receives during their first few years of work.

    For those parents who still have a number of years before their children reach college age, doing the math can make the dream of college sound more like a nightmare. For those within a year or two of college, the change in estimated costs can bring some major sticker shock ... this can mean that your last year of college may cost 15-25% more than your first year. For parents or students that have a number of years until college begins, it means your savings plan needs to account for this gigantic increase in cost."

    According to The College Board®, the average 2013-2014 tuition increase was 3.8 percent at private colleges, and 2.9 percent at public universities. The ten-year historical rate of increase is approximately 5 percent. These figures are substantially higher than the general inflation rate.

    The math:
    Four-year college at $50,000.00 per year, increasing at an annual rate of 5%, by the time a child in Kindergarten today enters college, the estimated annual cost of college is approximately $90,000.00 per year. How many families can afford $90,000.00 per year 12 years from now - considering the rate of increase in salaries of most workers is far outpaced by educational inflation?

    $50,000.00 x 1.05^12 = $89,793.00. YES, unless things change, good college education will be a luxury a few years from now.
  • Mar 20 2014: What we need is trade schools that build robots and colleges grads who can program them.
  • Mar 18 2014: No I do not because in the eyes of knowledge everyone is equal. The recent financial income gap that has lead to higher education being more expensive but the creation of online classes which would make college cheaper although greed my also be a factor as well.