The fate of the U.S. economy comes down to one thing: access.If every individual who wants it and every company that needs it can’t access capital markets, both wealth and job creation skid to a stop—and with them, so too does the power behind the U.S. economy.By and large, we’re pretty okay and handing access to those looking for it—any old fool could download an app and begin trading stocks. But like a first attempt at homemade croissants, things could always be better. We’re facing a gaping wealth disparity problem and a pressing inequality of basic education. The first step in increasing access to public capital markets is solving for those...not an easy feat.Adena Friedman—president and CEO of Nasdaq, the first woman to lead a global stock exchange, and today’s Business Casual guest—hasn’t let it deter her.Adena’s been helming Nasdaq since January 2017, and during her tenure, she’s focused intently on issues of access—access for companies, access for investors, and access in general to capital markets.In this episode, Adena will explain how we increase access in the right and healthiest ways. To her, allowing more companies and people to tap into public capital markets will necessarily level the playing field for individual and institutional investors.But whose responsibility is it to ensure that increase in access happens? Listen to find out.
By now, you know the higher education system in the United States is broken. You didn’t need COVID-19 to prove it.Because even before the postsecondary education industry was forced to pivot to remote learning en masse, a caste system was rapidly bubbling up within its ranks: The best of the best go to Harvard and become the ruling class…While everyone else perishes in a middle-ground limboland that’s left entire swaths of the population—often low income and often minorities—robbed of the opportunity for upward mobility.It sucks that students can’t go back to campus to do things like learn and network and party in person. But that’s not the real tragedy. This caste system is, according to today’s guest and NYU Stern professor Scott Galloway. As Scott sees it, the system has enabled us to completely lose sight of the importance of unremarkable students—those who might not be MIT material, but deserve a shot at college (aka the ticket to improving your socioeconomic standing).In this episode, Scott tears apart that system (and almost every other system, for that matter) in a wide-ranging conversation about the future of higher education. Some buzzy sneak peeks:Scott: “Harvard is a streaming video platform that costs $58,000 a year.”He also says we’re headed toward a hybrid model of online and offline education that’ll bring with it a culling of the middle class of higher ed.Is there a chance big tech saves higher ed...?You don’t want to miss this episode. Listen now.
Text me! +1 (917) 540-3402Most years, this time in August is a boom for Target’s dorm décor section and purveyors of shower caddies and anyone selling that John Belushi Animal House poster. But 2020 isn’t like most years.This year, higher education across the country will take place online, as COVID-19 has laughed in the face of the traditional residential college model. For anyone hoping to win back the beer pong championship belt, that’s devastating. For everyone else...it isn’t.Moving to online, tech-forward education for the masses could be a net good for students—it makes degrees more flexible, more specialized, and more accessible, according to today’s guest: Dan Rosensweig, the president and CEO of Chegg.But Dan thinks making higher education truly work for all means doing more than just sticking with online learning post-coronavirus. College degrees remain a fast-track ticket to upward mobility—in order to meet the needs of all who want them, we need a total reset of the industry. But how do you reset an industry worth $700 billion a year in the U.S. alone? It won’t be easy. And not all institutions will survive. Listen now to hear how we move forward.
Text me! +1 (917) 540-3402Olympic athletes are people, too. So how come the current business model of the Olympic Games, a commercial feat that would be entirely impossible without said athletes, fails to take them into account?In this episode of Business Casual, we’re talking about the intersection of finance and elite athletics with Lauryn Williams, a four-time Olympian, three-time Olympic medalist, and the first American woman to earn a medal in both the Winter and Summer Olympics. Oh, and also she’s a certified financial planner.As Lauryn told me, “The business model has needed overhaul for quite some time. I think that it's one of those things that it just started and began to snowball and nobody really knows how to undo something and start from the ground up.”That might be where COVID can play superhero. Given an extra year between now and the postponed Tokyo Summer Games, the International Olympic Committee has the chance to rethink the support it offers athletes—many of whom are now forced to put off lucrative brand deals and pay for an extra year’s worth of intense training.And even in normal, non-coronavirus circumstances, the cards can be stacked against them. There are countless variables that go into the viability of professional sports as a career—where you’re from, what your event is, and whose attention you get can be financial make it or break it moments.If you make it, you’re Michael Phelps. If you break it, you’re stuck crowdfunding your way to competitions, working multiple jobs on top of training to be the best in the world in your sport, and even going into serious debt.Lauryn explains it all in this episode. Don’t miss it.