The Question of Education

Sep 11, 2020

Dylan Field, CEO of Figma and a visionary in design, discusses the current education system's monopoly and its implications. He critiques rising costs and the value of degrees in today’s job market, posing questions about the true benefits of a college education versus practical skills. Field also shares insights on the impact of the pandemic, innovative educational alternatives, and career advice, particularly for those reconsidering traditional paths like college. Tune in for a thought-provoking take on the future of education!

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INSIGHT

Impact of Major and School on Income

Hard disciplines (STEM) have flatter income distribution across colleges.
Soft disciplines (liberal arts) show greater income disparity, favoring top-tier schools.

INSIGHT

Economic Value and Student Loans

The economic value of a degree should be considered, especially for liberal arts.
The student loan crisis is partly due to students pursuing low-value degrees.

INSIGHT

Education as Monopoly/Cartel

K-12 education is a government monopoly, while higher education is a cartel.
This structure restricts supply and subsidizes demand, leading to rising prices.

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Monopoly, oligopoly, cartel. All three of those words can describe the (not so) modern education system today, given the cost structures, economics, and accreditation capture -- in everything from who can and can't start a new university (when was the last time a significant change happened there anyway?!) to where government funding really goes to the student loan and debt crisis.

Yet degrees do matter, just not for the reasons we think. So what are the tradeoffs -- when it comes to the "right" school, making money, and assessing skills objectively -- between what's been called "hard" (B.S.) and "soft" (B.A.) degrees? What's the best book on career advice, and what advice does Marc Andreessen -- who went to a public university, worked on a revolutionary project there, and started a company right after -- have for students (and others contemplating change in their careers)... and especially for those considering dropping out, delaying, or skipping college altogether?

Andreessen shares his thoughts on the purpose, past and present of education (briefly touching on the impact of the pandemic as well) with Dylan Field, CEO of Figma, which is free for students and educators. The Q&A was recorded in August 2020 and originally appeared as a video in their "Back to School?" interview series; it was actually inspired by the question of taking a gap year and questions about whether or not to go back to school this year that came up in their Virtual Campus community of students from across the world.

image: Lyndsy Rommel / Flickr

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