Bill Ackman on Harvard President resignation saga | Lex Fridman Podcast Clips
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GUEST BIO:
Bill Ackman is an investor who has led some of the biggest and controversial financial trades in history. He is founder and CEO of Pershing Square Capital Management.
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Full podcast episode: czcams.com/video/PgGKhsWhUu8/video.html
Lex Fridman podcast channel: czcams.com/users/lexfridman
Guest bio: Bill Ackman is an investor who has led some of the biggest and controversial financial trades in history. He is founder and CEO of Pershing Square Capital Management.
It's very clear not only Harvard but many other elite and not-so-elite schools have lost their way. We've had numerous family members graduate from Harvard, Yale, Brown, and MIT over the years, ALL of them today are very disappointed in what their schools have devolved into. The "Adults" have to come back and take control.
Did you attend one? How do you know?
If you don't know by now... you don't want to know.@@lockejr
@@lockejr My grandfather, father, and aunt went to Harvard and I could have been a "legacy" admission, but instead attended an elite school consistently ranked above Harvard and now teach at a university consistently ranked above Harvard... and yes, I know. The central problem is that elite (and not-so-elite) institutions of higher education lost sight of their central mission (creation/discovery of truths and disseminating such knowledge) and instead widely embraced social activism (always of the liberal sort). (I say this as a left-of-center "traditional" liberal who nevertheless bemoans the INTELLECTUAL diversity essential for universities to find truth, and to garner intellectual trust.)
@@davidstork5604 I don’t believe in rankings. They’re not objective at all. I don’t even believe in so called “elite” schools. Its all a money play. Im just curious, how would you know this if you didn’t go Harvard? I’ve never known Harvard to be known as a school for its liberal arts studies or socialist politicians, if so, who are they? Also, how could these so-called elite schools be able to program so-called elite students. I thought “elite” people had a mind of their own. Is it possible these so-called “elite” students derived their political consciousness using their own “elite” brains??
@@davidstork5604is it true that debate or changelling the ideas of the status quo and not going with the "flow" is not encourage anymore? Have you experienced this? I find it baffling that in an institution like Havard this would be the case, a hub for some of the greatest minds of future this is enforced.
This was saddening as a black person. Dr. Gay simply wasn't qualified. Yet, due to DEI, she had the post. DEI doesn't make us look strong and capable. DEI makes us look weak and incapable. This should be obvious to all who champion DEI.
Right, the Jews picked her expecting she’d be easy to control… once she wasn’t on board with Israel 100 percent, she was gone. Now 6 of the 8 Ivy League schools have Jewish presidents. Their DEI puppet backfired and they just replaced the proxy with a tribe member to shut it down. When they get mad… everything changes immediately. But somehow they are powerless victims too.
Yeah bro I feel ya libs think blacks are to stupid to have any sort of id
Regardless of who they put there they are not going to be qualified. Woke ideology first in today's universities.
@@assassincreed1238 Your not qualified enough to have an intelligent discussion with your piss poor grammer usage.
As a white UK citizen, I really respect your comment and agree with your point of view.
Getting Gay on plagiarism is like getting Capone on tax evasion.
Either way, Gay is out and Capone was in.
Gay still makes over $800K from Harvard. Capone served the rest of his life in jail. She got off easy.
Great analogy!
@@TTFN55She's not really out though, she stepped down as president, but still teaches and does research there! Maybe someone should be taking a hard look at hiring practices and the whole 'tenured' thing! Plagiarism, no matter how in depth it was, is still plagiarism! If students are not allowed to get away with it, then certainly non of the faculty should be either! Here is the big question, how did she get hired to begin with? Did no one understand that she was not qualified or had plagiarized? If not, how qualified is the hiring department? Then what about the Board of Directors that just overlooked or supported her after this came out, shouldn't they be looked at to see if they are qualified to do their jobs?
Leftist radicals are never defeated until dead and even then they live on in the hearts of the wickedly stupid as inspirational.
Colleges and Universities need to start paying taxes, and students need to sue the institutions for a refund for time lost in academic study. I think we need to teach students to learn how to take care of problems, not just point a finger and cry on the sidelines for someone else to help them.
“Sending an important message” is not hiring someone for their skin tone.
Gay really should have been kicked out for failing to renounce genocide. Its pathetic that it took plagiarism to get rid of her.
You’d think she should have been kicked out after suspending a researcher for 2 years in 2016 who found that there is no racism in police shootings.
Genocide against who?
@@Post_and_Ghost so you think its no racism huh? lol
I kept forgetting her last name is gay
@@VictorGonzalez-nm3ih - Depends on the context.
the real question is how does Bill Ackman's wife fit in this whole situation? please look into this yourselves
The Harvard Board elections sound like the Russian Presidential elections... That can't be a good thing.
In Russian elections there is a second safety layer. Even if you get the required number of signatures, some percentage of them can be declared invalid and you are out. There were comical cases when people came and testified, it was me, it was my signature, and denied nevertheless.
Yup. The Harvard name ain't what it used to be.
American’s elections are far worse than Russia- I’m surprised you listen to Lex, at all- maybe there is hope..
Dear Lex I have been listening to your podcasts for about 6 months now and I am relieved to listen to someone like yourself who possesses as much intelligence as kindness. In todays world your approach is truly refreshing. Thank you.
Excellent interview...
This was such an important conversation and while continuing to increase my disappointment with the current education system.
Government funding should not go to any of these universities
Agreed ! The only way the modern Republican Party can survive is for increasing numbers of Americans to remain uneducated…. Low information is the only hope for the Republican Party.
Agreed ! The only way the modern Republican Party can survive is for increasing numbers of Americans to remain uneducated…. Low information is the only hope for the Republican Party.
Agreed ! The only way the modern Republican Party can survive is for increasing numbers of Americans to remain uneducated…. Low information is the only hope for the Republican Party.
👍🏻
Thank you Lex for doing this interview. I am so appreciative for the opportunity to hear from Mr. Ackman whose wisdom extends well beyond investing.
I give Ackman great credit for speaking up on moral issues, a guy who has no need to do such work. He but can only be doing it because he wants to be a man of character, which he is!! Thanks sir.
That woman's face is bursting at the seams with entitled arrogance.
WOW did James Lindsay get ahold of Ackman? I'm loving it!
You have to applaud this guy
Appreciate knowing what the deal was! Unable to pay attention from far away but WANTED to keep up. LEX keep fact cking oxox!!! From the UK
Great interview Lex, interesting to hear what Bill experienced
I wonder what Harvard would do to a Dean who said bringing back slavery is ok, “depending on the context😂”
Hum. You meant, what would the Dean say about a student who ran around and said bring slavery back. Should they throw the student out for such a statement?
Of course it is. Slavery that ran by Arabs and Turks was just fine. Crimean market alone estimated to sell 2.5 millions slaves, Poles, Ukrainians, Russians. It was British who pressed Turks to stop slavery, an act of hideous colonialism clearly...
What Zionists called "calling for the genocide against jews" is the chant "from the river to the see Palestine will be free" which is a dishonest interpretation and nobody can argue this is an explicit call for genocide. But glad to see right wingers dropping the "free speech" and "anti cancel culture" façade. You were indeed never against it. You just wanna be the ones doing the witchhunt
@ 29:30 Lex talks about not seeing politics and DEI in the robotics area he works in. The University of Waterloo, arguably Canada's # 1 computer science university for decades, currently has the following two openings posted:
The David R. Cheriton School of Computer Science in the Faculty of Mathematics at the University of Waterloo invites applications for two tenured faculty positions.
Exceptional scholars and researchers at the rank of Full Professor or Associate Professor are sought who are eligible to apply for a Tier 1 Canada Research Chair (CRC), established by the Government of Canada to enable Canadian universities to foster research excellence. Priority research areas include:
Position 1, all areas of artificial intelligence. qualified individuals who self-identify as women, transgender, gender-fluid, non-binary, or Two-spirit.
Position 2, all areas of computer science. qualified individuals who self-identify as a member of a racialized minority.
He's always been wilfully blind to this
Every educated person knows that sexuality is the basis of all mathematics.
As a fellow Canuck, that makes me beyond sad.
Is this Ad a spoof? If not, it is indeed beyond terrifying. Google Gemini here we come, full-speed! 😢
I want the absolute best computer engineer that identifies as a non-binary transgendered culturally responsive two-spirit racialized minority little person trapped in a dog’s body born on the 3rd day following the harvest moon 1 day prior to the autumnal equinox which falls on a Tuesday. Let the resumes roll in.
The exact same problem of self selecting ideology has been manifest at the BBC for years.
There is only one group you aren't allowed to critize.
Who?
Absolute free speech is the most crucial aspect of training AI for the future. Period. It is the most important thing we are facing right now for humanity.
In his discussion of university governance as the fundamental key to an institution's academic rigor and political diversity, Bill is actually calling for what Niall Ferguson and his colleagues are creating at the new University of Austin in Texas. Similarly, Jordan Peterson is working along parallel lines with his Peterson Academy. If Harvard and other elite universities persist down their current illiberal paths, they will increasingly face fierce academic competition from institutions like Austin, Peterson, and Hillsdale where academic rigor and ideological diversity offer an educational alternative to the Leftist indoctrination mills of the Ivy League and Palo Alto. Bill and other committed educational benefactors would do well to examine the plans of visionaries like Ferguson, Prager, Peterson, and Arn as they seek to reform and overhaul institutions like Harvard. I wish him luck. If his leverage is to withhold funding, he will find that Harvard's enormous endowment financially immunizes the Corporation from the pinpricks of withholding a few hundreds of millions from dissidents like him.
Freedom of speech and freedom of protest not allowed at Harvard?
Is he the man who cancelled a collosal endowment to harvard ?
Ms. Gay did that all on her own.
@@Cyber_Nomad01great great response bro
Yes, but define "colossal".
Harvard Corporation's invested endowment totaling tens of billions of dollars (currently $49.5 billion) makes it immune to pressure from disaffected donors like Mr. Ackman. In fact, its leftwing directors regard it as a badge of honor to snub such benefactors.
Also, Gay has resigned as President, but she is still in her old teaching position and still making hundreds of thousands of dollars.
why shouldn't she?
@@pedroamieva8812 Because that much amount of fuck up usually results in Firing? Earning the same amount of money but only losing a title hardly qualify as punishment .
The problem is the boards became completely detached from the administration of the university and staff. They abdicated their responsibility and became monument building fundraisers.
Amazing interview
Harvard takes federal money and is bound by federal laws against discrimination re race, religion, gender, etc…
As the great Dave Chappelle said when you start a sentence with "Those Jew's" it's not going to end well...
i really wish that Elise Stefanik had asked if it would have been tolerated if they had called for the genocide of the LGBT community? i think it could have been interesting.
Yeah, it would have been awesome to ask that, I was surprised it was not.
I wish Elise Stefanik would be less deranged.
Honestly, that's actually a legit question. I watched the hearings and actually agreed with Gay on upholding free speech UNTIL it turns into a legitimate indicator of problematic action. BUT I think you're 100% right about how hypocritical they would be if it was LGBTQ groups getting harassed.
She did
I think the parameters for plaigarism are different in the UK. In the UK you can literally plaigerise yourself if you don't quote yourself from a previous publication.
That's how it is in the USA as well--at least at my Uni, and when the standards are being applied in good faith. As an American who has studied/traveled/lived abroad, who is still in tune with the international community, and as someone who inhabits an institution of higher education, this series of events has been profoundly embarrassing.
That this hedge funds billionaire has any sort of impact on any institution of learning anywhere, much less one such as Harvard, tells you ALL you need to know about Universities today. Gross.
This billionaire speaking out is anything but brave. His standard of living wont change a whit.
Would be interested to know if and why there is offence at the universities wanting to be as apolitical as possible?
Because what you are arguing for is censorship, which stands against the values of free speech.
Surely, we should all argue against censorship
Lex, the Bill Ackman podcast was one of the better ones that I have had the pleasure of watching!
Can't believe how naive Bill was, did he completely miss the grievance studies affair in 2017?
To assert a public ally listed corporation is a private corporation is one of the biggest sleights of hands I have ever heard. Corporations are legal fictions that have been granted the same status as private companies and individuals, but they are definitely NOT private.
To be private you cannot have your business decisions controlled by the state. That would just make you an instrument of the state, and yet since universities are subject to and funded by the state,since the owners of the corporation are regulated by the rules of the state regulated stock exchange they are clearly public not private.
looked like jeff bezos with hair on the thumbnail
Saga?
Gotta protect the students in this wild world, and college leaders forgot to.
You teach youth to think critically through art and engaging the world around them. You do not have to prescribe thought. Ask them what is missing. What would they put there. We can learn just as much from them
If what Bill is saying about all the benefits of Harvard is true, then how does that square with the takeover by DEI Marxist types? Hint, it doesn’t. The DEI at Harvard Law trades back to I think early-mid 70s and a prof named Derrick Bell, so this ideology has been allowed to propagate for decades, while Bill and his alumni friends have been giving ghastly sums of money to fund the growth.
People say that engineering and sciences and mathematics are not being affected by dei, and that may be true if the students transfer in at the graduate level. But if students are coming up from undergraduate studies to go into engineering etc programs, they will have definitely undergone dei exposure and manipulation.
College a place of discourse not in promoting violence.
What is the point of interviewing this guy when he constantly misrepresents his point of view? If anything, before you fix universities, we should fix the approach of twisting your opinion while smiling to fit the circumstances . He probably took a lot classes and courses teaching him how to do that !
Should shareholders control education?
The best interview clip I’ve ever seen by Lex. We’ll done.
I think Ackman is spot on about hypocrisy of what's enforced vs what isn't. But I find it funny that everyone is trusting mainstream sound bites protestors calling for genocide. Everyone is focusing on river to the sea, which Gay explicitly called out as unacceptable to say. The groups on campus are also claiming that phrase means having different groups of people living Peacefully like they did in the past before the British got involved (not sure i fully believe this though). So I think it's funny people are working off of such little information and condemning. Basically no one is allowed to call out what is extreme violence from one particular group of people? Listen I gave up religion a long time ago seeing how f****** brainwashing it is to those who think they are at chosen people whether Christian Muslim Jewish or anything else. I don't see the older I get the more I'm starting to believe in the red media that Kanye referred to lol
Dartmouth handled it correctly.
I am genuinely trying to understand the following points:
1- how is Floyd’s incident comparable to oct 7th? The first is an internal US incident and the other is not. It makes sense for the president of Harvard to give a speech or publish her opinion on Floyd, but why is she expected to do so on oct 7th genocide?
2- If it is expected from her to give a speech and voice her opinion on oct 7 genocide, then why there is no mention in this conversation of how she also failed to do the same for the Palestinian citizens genocide oct 7 onward?
Those are good questions. I think I have a perspective that might be useful answering this. I’m a student at Columbia, which is an Ivy League university that handled this situation quite differently than Harvard, and that’s why you aren’t hearing much about us.
To the first question, like Columbia, Harvard has programs for international students, and many of the students come from Israel. (Although both schools also made statements about the Ukraine invasion, and my entire program only has one Ukrainian student). Both schools have a decent sized Jewish student population as well, and the initial attack was a religious/culturally significant event to the Jewish student community.
So the comparison to the George Floyd incident was not too unusual, as that was an incident that had an incredible impact, and particularly on the black student population.
However, your second question is where my school differs from Harvard, and you are right to question it. Columbia has allowed organized protests from all “sides” as long as the protests remain peaceful and are announced beforehand to allow the campus to prepare security to passively stand by as a deterrent to any violence from a few bad actors. In other words, our only real rule is put in place to make sure that all sides can continue to protest and demonstrate their argument.
As was the case with Harvard (and the other “elite” universities) The first announcements were indeed focused on the side of the Israeli and Jewish community. But as the violence from Israel escalated, the Muslim student community was increasingly included in the community announcements and was given the same treatment and support by the student body at large, and the faculty as well.
This was just one person’s opinion, but hopefully this helped a bit.
it’s called small hat gangsters 😂😂
@@juderocks5 thanks for sharing your perspective
1.Because when you have protests countrywide that leaves a student minority (Jews) in the US feeling intimidated and unsafe it has moved from the international stage to the national stage
2. Read the definition of Genocide:" the deliberate killing of a large number of people from a particular nation or ethnic group with the aim of destroying that nation or group." The aim of the IDF is not to destroy the Palestinian people - it is to root out the Hamas terrorists who seek to inflict a genocide on the Israeli population as evidenced by October 7th and as articulated by them subsequent to October 7th and in their charter. Israel has long been accused of genocide - yet the Palestinian population kept growing whilst Israel was being so accused (very ineffective genocide). Moreover, the IDF's ratio of civilian to combatant loss of life in an urban war environment demonstrates that the IDF has been more effective than any other army in history at limiting deaths of civilians. There is always collateral loss of life in war - but Israel didn't start this war or seek to be at war in the first place.
Saying “death to Israel” is NOT hate speech
Hard to imagine that the Harvard students and the Charlottesville people are united on this issue
You really have to separate speech from actual violence. Where have students here been the subject of actual violence? Give some examples if you can.
Check out how they smear this guy in his Wikipedia bio. It’s sickening.
Very grateful that Bill Ackman exists in this world.
A good point on the double standard of speech rights on campus. However I do feel kids who are protesting Isreal shouldn't be grouped with the extremist who advocate Hammas.
Why not? They were marching with them.
It is indeed about this more important diversity of ideas. We know the outcome when professors do when they operate without accountability in their little clans, or committees. Therefore, I advocate for effective leadership at universities and involvement of the CEO in all hiring decisions to avoid inbreeding and assure meritocracy.
The bottom line is that we should know the political agenda of Mr. Fridman. Once I know, I could understand more his position and validate his words.
She should have seen this type of posturing was taking down business leaders. And realized they could come after a weaker new installed leader of Harvard. Her position was day-to-day role for a DEI warm seat. And you don't want your record being reviewed. She should have played nice.
I like Fridman. He lets his guests talk.
Ackman also writes very well, among his many talents.
a hallmark of logical, coherent thinking
That C u next Tuesday should get the chair.
I think that it's necessary, or a fantastic opportunity, to start a new University completely based on meritocracy, skip everything that's not purely based on real science, do not let social sciences inside the gates.
Apparently there is about 25 IQ points difference in average IQ between a student in math and a sociology student (Petersson). They can not discuss in a meaningful way. 125 is a MD at the hospital -100 is the genitor range.
6 points below average among colleagues and you are regarded as the dum one.
Time is money, let's do in 3 years whats others do in 5 years on gender soiled universities. Smart parents will pay good money for that.
Tell me that academia is communist without telling me "academia is communist". lol.
Another bad assumption,option is that the best kinds in the world are on Ivy League campuses. They are clearly not. One can score perfectly on whatever test and be a completely bankrupt, inept human being.
Bill Ackman is a beautiful soul. 🙏🏻❤️
11:20 Used your power & financial influence unfairly?
If I had billions of dollars, I would be spending a lot of time putting people into their own version of that Fincher film "the game". That or "Truman Show" stuff.
Notice how CZcams throttled this?
I think Bill Ackman should also allow Lex to speak. He cuts off Lex every time, I want to hear his opinion.
In fact, I only want to hear his opinion when it comes to this matter.
The juggernaut got turned first one way, then back on course. Where will it go next?
Thank you Bill for using your voice to critique the DEI behind so many of the issues in our culture and particularly on University campuses.
Wasn’t this guy’s wife also caught in a plagiarism scandal? Don’t throw stones in a glass house 😂
She owned the mistake and was not at the same scale, but more important- she’s not an academic leader. Hasn’t made her mark peddling DEI ideologies.
How can any university that expects a diversity of thought to be 98% liberal thinkers? The two boards have to be broken up and “reconstructed” to ensure equality of true thought.
Diversity and Honesty begins at “home” first!
I'm always amazed at people that can discuss such horrific subjects with such cool, calm collected manners. Antisemitism & DEI are so terrible. Inexcusable. I hope someone can fix this.
Thanks for speaking out bill. You are bang right.
9:55
He, what a burn
A couple of things.
He needs to understand equity is not equality.And they make that very clear the other thing is diversity.They want diversity of skin color not diversity of thought
This guy is powerful..he is an acquaintance of Penny Pritzker of the Hyatt family and sister of Illinois Governor...im so glad he is involved in some societal issues..
Right...Harvard went third...she listened to the first two and then said "I'll have what they're having"...she was and is not wise enough to figure out what was happening...
I would say Columbia in New York has an incredible line up of PhDs who teach equity, accessibility, racism and micro-aggressions . They should be brought here and they should be heard. They teach it to Doctoral level students who intend to become instructors. It is not to be missed.
Have Carol Hooven on!!!!!!
The soft bigotry of low expectations. That’s putting us backwards folks
She should have listened lol cause now this IS her legacy. A legacy of indifference towards anti-Semitism.
Dartmouth showed leadership.
Lex stop deleting the counter posts
"Ms McGill, Ms Gay, If there were protests calling for the genocide of Black people or the genocide of Gay people, would that violate university policy on bullying and harassment, or would that be context dependent? Also, how would you feel right now if you _didn't_ eat breakfast this morning?"
Calling what's going on on campus "crazy" while you're a hedge fund manager (a tool of insanity and destruction,) is less than compelling.
Being a hedge fund manager is a morally neutral career, and how you choose to invest money (I.e. shorting companies) can be used to perform morally questionable actions.
In comparison It seems that being a Ivy League president is inherently morally wrong, as you are apparently required to defend students who are calling for the removal of all Jews from Palestine from the “river to the sea,” which is an inherently genocidal statement
Guy looks like Bezos with hair
As a person who is half Jewish , all due respect, this dude is just playing a victim, honestly. Nobody cares about the things Palestinians go through in the West Bank and nobody screams about it or loses their jobs for it, but they stay neutral on other issues just to be fair , then they automatically get accused of antisemitism.
This is the way it works. Whatever happens to Palestinians at the hands of their occupation, if you say something you are actually accused of antisemitism. Think about that.
Oct 7 was a horrible act and the things that have been happening to Palestinians are also horrible but you are not suppose to at nothing about the latter because it goes against the agenda removing Palestinians from their land.
Bill Ackman gives a wonderful rationale for why he should be giving donations to the new University of Austin. Will he?
Lex, you softballed your guest. Why has he given so damn much money to Harvard and remained ignorant of what is going on?
Dude looks like hes trying to spin his whole head around the entire time.
Thats freedom of speech, both should be able to do it
As an absolutist I agree with his views. I believe calls to violence that don't lead to violence ate allowed but i can understand where this should not be allowed among children because they can't see the difference.
If you believe that free speech absolutism doesn't extend to college students, then you are not an absolutist. And to be clear, I am not an absolutist either. I believe those who are absolutist about any issue are essentially saying they don't think critically. Most Speech should be protected, but there are times and places where, as a society, we should restrict speech (e.g. protesting a funeral, someone using a bullhorn outside your house in the middle of the night, etc). I obviously think it is abhorrent that anyone would call for the genocide of Jews (or homosexuals, or trans, or any group of people), but I actually think the Harvard President is right in that it depends on the context. Now Bill has a point that if Harvard is not a bastion of free speech in general, then it would be inconsistent to say that this would be dependent on context at Harvard. But in general, I think it is a very slippery slope. As long as people are choosing appropriate venues for their "speech", the content of that speech should be allowed.
This man lies through his teeth. He is pro free speech as long as it doesn't support the people of Palestine. Non-Violent Protests are some of the greatest forms of free speech we have access too. Also, he isn't a Harvard Student and he did threaten the President financially. The reason she had to resign is because he would have pulled millions of funding in the form of donations from Harvard.
As a private corporation, Harvard does not have a legal obligation to not engage in viewpoint discrimination. But neither do they have an obligation to engage in it.
The government can not require them to do what this man wants, but also can not require of him to do what he doesn't want (give them money).
As to the rest of us, from the most idiotic to the most wise, we can all tell whoever we want, what we think of any of Harvard's choices.
Bill is no whereas intelligent as I perceived him to be prior to this interview…his distortions and revisionism is so obvious. Another great Lex interview.
Great inverster
"i myself am a sucker for great leadership" taleb was right about lex