Schonfeld’s Post

🎓💼 Redefining University Economic Impact 📊🔬 Yesterday, I wrote about the recent Economist article, “Universities are failing to boost economic growth.” I took aim at the article, noting that universities affect innovation in the long term, primarily through their graduates. Today, the inimitable Alex Usher discusses the same article by cleverly comparing how Stanford and Ball State University affect their local economies. Usher says it’s essential to revisit the broader narrative of higher education’s role in economic development. Traditionally, the story of institutions like Stanford University, with their extensive scientific contributions and ability to attract businesses and talent, has dominated the discourse. Stanford represents an ideal where universities act as engines of innovation, propelling local and global economic growth. However, this narrative is just one side of the coin. The story of Ball State University offers a compelling counterpoint, illustrating how universities can profoundly impact local communities not through groundbreaking research but as vital community anchors. Founded in Muncie, Indiana, in 1917, Ball State exemplifies how higher education institutions can elevate local property values, attract professional families, and enrich the community’s cultural and social landscape. The contrast between the “Stanford model” and the “Ball State model” underscores the diverse roles universities can play in economic development. While the allure of innovation and technological breakthroughs is undeniable, the foundational community support provided by institutions like Ball State is equally crucial for sustainable local development. The implication of Usher’s analysis is that to foster a more synergistic relationship between universities and the business sector; we must acknowledge and support the varied contributions of different types of institutions. Whether it’s driving global innovation or strengthening local communities, each university uniquely shapes our collective future. #Universities #HigherEducation #EconomicDevelopment #UniversityImpact #Innovation #EntrepreneurialEcosystem

FIRST PRINCIPLES FOR FIRST STEPS, Part 2 Pano Kanelos, 54, the founding president of a new private university called the University of Austin, Texas (UATX for short) grew up in Chicago reading avidly at the back of his parents’ diner. It may have been no Greek island of Samos, but it’s where, through books, his path toward becoming a nuanced, undogmatic scholar began. The motivation in co-founding UATX, he says, is simple. “The world is coming apart at the seams. We live in a time of a kind of ambient nihilism. The only response is to build and create.”   /Free: tuition and speech/ UATX’s mission is to create a "fiercely independent" school that offers an alternative to what its founders see as a rise in ‘illiberalism’ on college campuses. Founded three years ago, the school's board of advisors features prominent figures, including former NYT columnist Bari Weiss, former Harvard president Lawrence H. Summers, and playwright David Mamet; founders include Weiss, Kanelos, lauded historian and Hoover Institution fellow Niall Ferguson, and Austin entrepreneur Joe Lonsdale.   There already is a location in downtown Austin, with plans to build a larger campus on the outskirts of the city and to establish student housing downtown. There is also broad financial support. The $200 million raised on the way to a goal of $250 million came from 2,600 individual donors. More than 100 funders gave over $100,000; some gave millions. This will allow the school to keep tuition at around $32,000 a year. Perhaps most importantly, there is broad support in academia for the university’s particular mission. More than 6,000 faculty nationwide originally inquired about teaching opportunities at UATX.   In late-November, guided by a say-anything-as-long-as-you-shout-nothing philosophy, UATX launched its inaugural class with 92 students, roughly half of whom come from Texas, and a third are female. They average in the 92nd percentile on the SAT and are seemingly happy to swap DEI – diversity, equity, inclusion – for what some call MEI: merit, excellence, intelligence. Says Niall Ferguson, “We are putting resources into finding talent of an intellectual variety. And if you're interested in diversity, I recommend you look at the social backgrounds of our students, at the family circumstances of our students.” #copywrittenart

Proud to be part of the team making this vision global, in partnership with Cintana Education: "Education has always been foundational to the democracy and so, and so like that, but in a new and modern way, we've designed ASU to be what we call one university in many places," Crow said. "We, we're now in every home, we're in every school, we're in every company, we're making certain that we are reaching you. The argument then is that our university is designed to be ubiquitously present, not to be behind a wall, not to be behind an ivory tower. So that's what we've done," Crow said. "We've taken down all the barriers, and we've said we're going to do the most advanced research in the world on how photosynthesis works using femtosecond speeds, billionth of a billionth of a billionth of a second, to understand the fundamental chemistry of how photosynthesis works. And we're gonna help your sixth grade kid get through math." Arizona State University ASU Global #access #internationaleducation

Meet Niya, a first year economics student at the University of Massachusetts at Amherst! Her ambition to create positive change has been shaped by the diverse and driven people around her. Niya chose economics for its real-world applications, as it allows her to understand costs, incentives, and decision-making processes. “The campus is alive with activity, and there’s always something to do,” she says, highlighting her excitement for the vibrant community at UMass. With interests spanning psychology, computer science, finance, and law, Niya recognizes the importance of a diverse educational background. She first encountered OpenStax while studying physics and appreciates its role in making education accessible. “Traditional textbooks can be incredibly expensive—some digital copies cost over $100! It’s unfair that many students struggle to afford them,” she explains. Niya advocates for OpenStax because it provides free, high-quality resources that are essential for student success. “I highly recommend using OpenStax. These resources can truly help ambitious students like me succeed in their courses,” she shares. Let’s support accessible education and help students like Niya thrive! Interested in helping more learners like Niyati this holiday season? Join us in making an amazing education accessible for all—give today and support the next generation of learners! https://lnkd.in/gndzhdVR #OpenEducation #OpenStax25 #StudentSuccess #Philanthropy #EducationForAll #HolidaySeason

This inauguration address by new Stanford President Jonathan Levin hits the right notes! "The university’s purpose is not political action or social justice." Rather, the purpose of the university is to support "the freedom to think and speak openly," which is necessary for "discovery and learning." q/ Our North Star is our fundamental purpose of discovery and learning. We exist as a university to create and share knowledge, and to prepare students to be curious, to think critically, to flourish, and to contribute to the world. This purpose, both simple and profound, gives us a distinctive role in society. Discovery and learning require fresh ideas, open discussion, sometimes sharp disagreement. It is no accident that Stanford’s first president chose as our motto: “The wind of freedom blows.” When our former President Gerhard Casper arrived at Stanford, he was so struck by our motto that he dedicated his inaugural address to explaining its origin, and relating it to the freedoms of the university. These include the freedom of faculty and students to pursue knowledge without constraints; the freedom to challenge orthodoxy, whether old or new; and the freedom to think and speak openly. These freedoms nurture the conditions for discovery and learning. These freedoms also provide a guide when it comes to navigating many of the contentious issues we face today. To be clear, we want Stanford’s students and faculty to engage with the world. We expect them to wrestle with social and political issues. We hope that they will have an influence on the direction of society, pursue public service, and tackle the pressing challenges of our time. Yet the university’s purpose is not political action or social justice. It is to create an environment in which learning thrives. As Harry Kalven memorably put it, the university’s obligation in challenging times is “to provide a forum for the most searching and candid discussion of public issues.” This is what we should strive for today: to foster searching discussion, to listen with curiosity, and to ensure the freedom of members of the university to study and learn. These are goals I will work toward as president, and to which we all can contribute. It is in this way that we will generate ideas that percolate out and shape the future, and that our students will graduate with the inquisitiveness and knowledge to make a difference. And it is ultimately through those means that we will fulfill our role in society and renew public faith in universities. /q https://lnkd.in/gg-XezRr 

Empowering Patients and Transforming Healthcare: The MyRxWallet Revolution In today’s digital healthcare ecosystem, patient data is one of the most valuable assets, yet the question remains—who benefits from it? At MyRxWallet, we firmly believe that patients should be in control of their data and reap the rewards of its monetization. It’s their health, their information, and it should be their choice. Through MyRxWallet’s blockchain-powered platform, we provide patients the opportunity to securely monetize their anonymized data, whether for research, drug discovery, or healthcare innovation. But we take it a step further. Additionally, MyRxWallet’s robust Blockchain EHR, coupled with AI-driven healthcare technology, offers healthcare professionals a comprehensive patient summary, complete with diagnostic tips based on current health issues, lab results, X-rays, and imaging. Our AI helps tailor treatment plans, including referrals to specialists, recommended medical devices, lab work, and imaging—all of which align with the patient’s insurance coverage. For each treatment or referral recommendation, our EHR populates a list of providers covered by the patient’s insurance and, when prior authorization is required, our system automatically packages the necessary documentation, ensuring a painless, expedited approval process. By adhering to industry best practices and payer-specific guidelines, we facilitate faster solutions and reimbursements for both patients and providers. At MyRxWallet, we’re not just creating technology; we’re building a future where patients are empowered to control and benefit from their data, while healthcare professionals are equipped with cutting-edge tools to deliver precise and effective care. Together, we can revolutionize the healthcare industry. #Blockchain #EHR #AIHealthcare #PatientData #DataMonetization #HealthcareInnovation #InsuranceOptimization #MyRxWallet #Web3

When Paradigms Shift And, universities repeat themselves! The University of Alberta followed in the footsteps of the University of Calgary. Employing police force to put the young ‘buggers’ in their place! The removal of another pro-Palestinian student encampment. A well planned and executed effacement of what could have been ‘a chance for growth’! The way I see it, educational institutions are missing the chance. The old paradigm is falling apart, we need to seriously reflect, what happens when the young buggers’ paradigm shifts? Educational institutions have been investing in the molding/cloning of the young buggers to be the copies in their image. Sculpturing them in the ideals of the Darwinian/humanistic/scientific/X/Y/Z…… paradigm/worldview. However, what happens when injustice becomes so blatantly blinding that no concept of progress, modernization or democracy can neatly fold and hide the oozing of global suffering. We are in the crisis phase; the blocks of the old paradigm are falling and the time for a shift has already started! Researchers and academics know well enough that when a new paradigm gets erected, it comes with its own set of rules and logic. The old ways of thinking, convincing, explaining have no weight or place in the new vision. I realize that the old buggers do not see the need for a change, but I have to say it, what they think is really irrelevant! The paradigm is already shifting, they either get on board or miss the boat! Just in case I did not explain myself well enough, I am going to state this in simpler expressions. If the paradigm is shifting and with it comes new ways of thinking, shouldn’t all of us be involved in the building of a new paradigm? Should we leave it to Google the Bugger, X, and all the rest of the social alphabets -with whatever malevolent or benevolent agendas they might have, to be the major ‘influencers’ in swaying the masses of young buggers in their new paradigm?

It is possible to lead a purpose-driven life as a teen and enter your chosen college. Often, purpose-driven students achieve impressive feats without traditional admissions portfolios. I have known many such students. – At Harvard, the kid with the lowest SAT scores in my freshman class was elected mayor of his small town at 18. – Caleb Cappocia, one of my mentees, was a professional actor as a teen before getting into Harvard without a high school diploma. – Laura Deming entered MIT at 14 after two years working with a renowned researcher without a diploma. – Another former student, Jai Agrawal, raised $1.2 million for his Minecraft Mods startup at 16, which helped him gain admission to Stanford. None of these students were stressed about high school or a traditional admissions path. I’ve served on scholarship committees where most high-achieving students submitted repetitive applications—4.0 GPA, 1550 SAT, varsity sports, student council, volunteer work—but lacked distinction. A friend of mine, reviewing Harvard candidates, remembered a student who dropped out of high school, joined a Buddhist monastery for a year, then finished high school. Even with excellent academics, his unique path made her recommend him for admission. If you’re a parent guiding the next generation, remember: Real achievement often doesn’t fit in a traditional box. Book a free trial class at my part-time and full-time virtual school. https://buff.ly/3BtolKt Join a community of parents who value both well-being and recognized achievements in their children's education.

Discover the top states to open a university in 2025. Learn why Arizona, Florida, Utah, and Tennessee are the best options for aspiring university founders with streamlined processes, business-friendly policies, and supportive environments.

Check out this recent article in The Stanford Daily, featuring my journey to Stanford as well as the stories of my fellow transfer students: https://lnkd.in/gDk_mHfk