Post Corona: From Crisis to Opportunity

by Scott Galloway

The disruptability index for higher education is off the charts. In the past 40 years, college tuition has increased 1,400%. In the 1980s and early ’90s, I attended five years of undergrad at UCLA and two years of business school at UC Berkeley for a grand total of $10,000 in tuition—all seven years. Fast forward to present day, that won’t cover two classes at NYU Stern ($14,000). Compared to this, even healthcare seems like a bargain. Healthcare spending has “only” increased 600% in the same period.1 What has the education industry done with this extraordinary transfer of wealth? Not much. We rightly complain about healthcare costs increasing, but if you go to a hospital today, the technology, procedures, and medications are substantially different than in 1980. Our nearly $4-trillion-a-year healthcare industry provides cutting-edge training and technology. Have outcomes kept pace with price increases? No. But there has been substantial innovation.