Can a Podcast Change Southwest Airlines? + The College Consulting Business | Prof G Markets

Legacy Shift

The phasing out of legacy admissions is reshaping the landscape of college entry pathways. Ed Elson highlights that Ivy League schools receive over $2 billion in alumni donations annually, largely driven by parents hoping to secure spots for their children. With states like Colorado, Virginia, and California banning legacy admissions, these donations may soon lose their intended influence. This shift could redirect billions towards private college consulting services, as Scott Galloway suggests, "It'll almost become...you have a disadvantage if you don't hire a consultant." 1

   

Consulting Boom

The elite college consulting market is booming as legacy admissions fade. Scott Galloway notes that while less than 1% of Americans attend top-tier universities, these institutions produce a significant portion of influential leaders. This reality fuels demand for consulting services like Crimson Education, which charges up to $200,000 to guide students into Ivy League schools. Galloway shares his personal experience, acknowledging the anxiety parents face: "You want every advantage for your own kid." 2 3

   

Scarcity Critique

Education's role as a luxury brand is critiqued for its scarcity-driven model. Scott Galloway argues that higher education should be more accessible, likening it to a life-enhancing pill that should be widely available. He criticizes the current system for hoarding opportunities, stating, "This is a bunch of people who are infected with the same virus that infects all of America." 4 He also calls for transparency in admissions, suggesting that financial contributions should openly fund expanded access for lower-income students. 5