tv Press Here NBC October 4, 2015 9:00am-9:31am PDT
divide. to you by boeing. taiwan becomes the first asian country to launch a state-sponsored incubator here in silicon valley. the nasdaq comes to san francisco. and the former president of the yale sits down with me to discuss the future of education in an internet world. our reporters joe mann of reuters and hannah kutchler of london's financial times this week on "press: here."
good afternoon, i'm scott mcgrew. we were debating the other day what industry has seen the most disruption. the easy answer is taxicabs because of uber, but the winning answer in my mind is college. traditional clejts are facing all kinds of disruption, parents and students are balking at high costs and resulting massive student loans. state governments are cutting funding at state cools schools. the president is pushing for free enrollment in community colleges and on top of all that the internet is bringing college courses to millions. no one knows more about the business of college than rick levin, he is an economist, he was the president of the yale for 20 years, the longest tenure in the school's history and now serves as the carl edwards for cera-a for profit education company that offers open online college courses in a dozen languages in partnership with nearly a dozen universities.
lots to talk about, including corwera but i want to start at the beginning and that is the traditional four-year college with a campus. what is the state of colleges these days? >> you know, i think it's still pretty good. the top colleges in the united states are the best in the world and attract the best students and that four-year experience is an extraordinarily valid experience, the gap between college educated and those who don't go to college has been robust and sticky for its last 30 years. so, you know, some of the -- some of the concern about the worries of colleges are overblown. the biggest single problem has been underfunding by the state governments of the state institutions where the real cost of attendance has gone up dramatically. private colleges the net cost has grown 1% a year over the
last five years. >> what do you say when people say it's so expensive, it's not worth it anymore? >> i think the data shows the opposite is true. it is worth t the lifetime earnings expectations are clearly -- are still positive rate of return. it is true that's an average and there are people who get really stuck in a bad situation where they can't afford to repay loans. the student loan problem is very largely a problem of state government having eliminated the support for state schools which are the majority of the students in this country and they -- and so they have to take out way more loans than they did 20 years ago. >> what do you make of the push for junior colleges? will that make sense for lots of students? >> it does make sense for lots of students and it is much more vocationally oriented and gets people into jobs. i think the emphasis on getting people that opportunity is -- remains very -- >> and there are so many classes that are put gut classes that
are the basic english 101s. would you have taken -- people need to learn how to read and write. >> they do. it would be nice if they did that before they got to college. >> i'm a big fan of english 101. >> that's right. whether i'm going to pay x number of thousands or x number of hundreds for english 101, colleges would they suffer -- we could use yale as its example. there is a certain culture to yale or to harvard or to oxford in which, you know, you ought to be there all four years that i think that could be at risk if students were to come into a school, whether it's michigan state or harvard, late. >> it's the networking tuntsz as well, right? >> yes. look, the very top schools in the united states and the u.k., i mean, they are going to remain very valuable places to go because of the fellow students of r you have and the lifetime bonds you form. let's remember that is only a small traction of the people out there.
lots of people are going to college for -- you know, basically in order to get a job and that's where online education can come in and help and supplement and augment what gets done in the bricks and mortar institutions >> i want to talk to the period of adjustment where different colleges are trying different approaches to on line coursework. some are ignoring it and some say we should do that and have the sections be reserved for q & a. is there consensus emerging about the right educational approach to what you put on a video and what you need human interaction for? >> i think the data are starting to show that this blended learning approach where you do some material by video prior to dmoomg a classroom and having a discussion works better for mastery than either approach separately. i think -- it's still in its infancy, i think you will see more of it, more schools are experimenting with it and in a way this is a generation that's more acclimated to learning from
video than print so the idea of using video to replace the textbook makes a lot of sense and we are undoubtedly going to be part of that. >> do professors guy fwhooi on that. >> sn some of it stee as a threat. >> which are still at the low end of the s shaped diffusion curve. >> fair enough. >> there are early adopters who are doing this successfully. it's not that easy to do well. you have to figure out what do you want to do in the classroom after the people have already heard your lecture. >> i will say and we have seen this many times and maybe fo tooting my own horn, but video is much more difficult than it looks like chltd why does a gi guy go from running yale to opening up courseera? >> it's extending the vision of what the great universities can do, they can bring their talent, bring the accumulated scholarship of their faculties to the whole world. that's the essence of t it's 120
universities not 20. >> my goodness. >> that are producing content for us. and the reach is enormous at 15 million registered learner's. they are all stages of life. the real mission of coursera is to be the place you learn throughout your lifetime. we want to be the place you go to learn not just to replace college, but supplement it all the way through your lifetime, upgrading your job skills, learning new skills in your professi profession. think of how fast things are changing. >> all that have makes perfect sense. it's easy to see how you would want to catch up with something that's happened in the 10 years since you were in college. but what about as a college replacement, are we approaching that, are there going to be some people that don't need to go to college because they can do this stuff from their bedroom? >> we are not getting there yet. coursera's focus has been on sources where we give you
certificates, we have one experiment going on with an online degree program with the university of illinois doing a mastest degree program in conjunction with their open coursera courses. i think we will do more of that in the future, but what we are doing now are suites of courses, grouping of three or four course that is we call specialization that are giving people relevant job skills particularly in business, data science and computer science and help people adjust to change work environments and also people that never went to college in developing countries to actually get skills that they can -- >> see, this is something i wanted to talk about, developing countries there. has been a lot that's been written about mooks, going into developing countries and there is always someone found like a kid in his bedroom in pakistan or someone that has learned amazing things on line. how as a professor do you pitch a course to a learner around her upgrading their skills and a teenager in their bedroom in
pakistan? >> you know, you just teach what you know and it turns out that there are people out there who can get t that is one of the most inspiring things about this job is that students with all kinds of backgrounds find benefit in these courses. so there are the 16 year olds who use it as a vehicle to get into a highly competitive school in the u.k. or u.s., there are people who have never had an opportunity to all of a sudden do computer-based startups based on the programming languages and stuff they did on course rachlt it's quite amazing. >> because they are computer oriented one of your more popular course right side things to do with it and computers, is that a fair guess? >> yes, i.t. and computers are popular, business skills also. the most successful single specialization we have is in data science because that's a field where so much has changed since anybody went to school.
what used to be called statistics is now data science. >> so much better. >> it's great. but businesses of all kinds want people with these new big data analytic techniques, it's a whole new set of techniques, there's an estimate something like 190,000 people in this field are needed and we are training thousands, tens of thousands in this field. >> rickie, if i didn't want to take that particular course let me ask you the final question here. what would you recommend as the -- give coursera a try and i think would you really like sort of course. >> i will recommend two single courses just for a sampler. one is called learning how to learn held by barbara oakley, university of california san diego it gives you a metaphor to think about how the brain works that helps you learn how to study, it's phenomenal. we just launched a course recently by my colleague barry nailbuff at yale about negotiations. if you want to how to negotiate
based in new york's times square was the tech heavy nasdaq. >> to the tech heavy nasdaq. >> the tech heavy nasdaq. >> there is no doubt the nasdaq has a lot of tech companies listed, including the world's most important tech company, but lately many silicon valley companies have opted to list on the new york stock exchange instead. we don't know that's the particular reason nasdaq decided to build a new entrepreneurial center part school, part media center, the 13,000 square foot entrepreneurial y'all center will no doubt bring the nasdaq name to the attention of the next generation of tech entrepreneurs. >> nikola core zie is executive director of the entrepreneurial y'all center she's formerly with
band of angels in silicon valley and she was an list for credit suites as well. what's an entrepreneurial y'all center? >> all kinds of things. at its koran amazing nonprofit hub of bringing in great founders to learn and engage and inspire one another through all of the challenges and different moments they are faced with this in entrepreneurial journey they are on. >> this is the nonprofit segment of the nasdaq organization. >> yeah. >> this will not be a trading floor. >> not at all. >> there is no trading floor for the nasdaq. this will not be a trading center. this is something else entirely. >> exactly. it was through the generosity of the nasdaq educational foundation that the center was able to be born about a year ago and then nasdaq is one of our many corporate partners and sponsors that are helping us underwrite these programs for entrepreneurs. >> you spent a long time with band of angels and angel investors have played an important role in the valley.
what is it that you think you can do with nasdaq that you couldn't do with them? >> one of the challenges that a lot of entrepreneurs and founders are faced with is the save haven in which they can admit that which they don't know and learn from one another as they are growing through a lot of the difficult challenges that they are faced w even as i put on the investor hat that i wore for many years i recognize that in a lot of conversations i had had with amazing founders there was this moment of hesitation do i bring you behind the curtain and let you know the issues that i'm faced with, certainly that's present inside of board meetings, certainly in a lot of different situations. so there needs to be an engaged safe haven for founders to really be able to be honest with one another, communicate effectively and hopefully learn and grow at the same time. >> what are a couple of the things that they might be panicking about underneath? >> you know, a lot fortunate time it has to do with metrics and milestones that have slipped. there is this expectation that if you are down the path of deciding that for investor optionality you've decided to be
venture they are holding you accountability very much day and in and day out of being able to meet those sales numbers, being able to get those global expansion efforts underway and competing with the tech talent wars that are going on at this moment. being able to actually have a place where they can say, not quite as easy as we had originally hoped for is very important. to be able to then talk with other founders about what did you do when you also found that you weren't quite able to do what you hoped with $500,000 there's an important place they need to get help with. >> if i don't want to confide to a fellow entrepreneur around the same role, i am the same size company, can you help me find a better mentor? can you get me a ceo of a fortune 500 company as long as it trades on nasdaq? >> no, no promises. but very much what we are here to do is serve great founders. we are mindful of listening to the issues they are faced with,
mentorship continues to be an issue. >> is this something i apply for? is it more we work or more -- >> there is no formulaic approach. most 16 week classes that you go through, we are a landing spot for entrepreneurs to come in once a month, four times a month, whatever they may need. for the application process it's a pay it forward mentality. they need to come in with two strong points of references that will vouch for their commitment to entrepreneurship and in exchange because everything we are doing is pro bow know they have to take that lesson learned and share it out with five different entrepreneurs. >> how do i know i'm ready to walk into the nasdaq entrepreneurial center. >> we are meant to help once a company has got to that point of being able to commit to full-time to doing it rather than a part sometime effort, we are ready to help serve you. >> we're seeing more and more companies stay private for
longer, something i'm sure the nasdaq has opinions on given that it's a public market. how do you help people go public? >> that is a great question. for us we are taking this industry and stage august knost i can approach because we can't official a alley launched, our big launch is september 24th a lot of the programming is meant 70% on the pre formation series a type level and 30% is what we would consider liquidity offerings or ipo readiness type classes. we will fill into the middle as things progress but we are not trying to come out of the gate and we owe noe what a mid stage company needs. >> is there going to be a class on listing? >> it is unlikely to be anything as directs as that. our mission is to educate. what we would want to be able to do is understand the pros and cons that are associated with the challenge of getting ready to go public so that certainly does come with a whole new slue of regulatory issues, compliances and balances and checks. so it's not going to be right
for every company as we are seeing. i think we have a wonderful part for nasdaq's heritage. they have a big initiative through the nasdaq private market which helps companies understand the issues and look at different bases in which they can get out if they denied not to go public. >> i'd love to ask you about the private market. we will leave that for another time. thank you for being here. >> thigh pleasure. >> "press: here" will be back in just a moment.
welcome back to "press: here." lots of places around the world say they are the next silicon valley and we all know there's one and only one silicon valley which is despite coining names like silicon beach or silicon fem at home countries are setting out outposts here in the real valley. the latest is taiwan which is the first asian company to set up an official state sponsored incubator in silicon valley, a place where taiwanese can come, open up shop, find out how we do things in northern california. others countries include franch, germany, switzerland, iceland, norway, denmark, sweden and finland. dr. larry wang runs the center helping her country men and women understand business in silicon valley. thanks for being with us this morning. >> thank you scott for inviting me here. >> here is my imagination is you
are an official representative of taiwan and the taiwan government. i mean, right? this is a state-sponsored thing. you are bringing your smartest, your best people from taiwan to silicon valley. isn't that a risk for taiwan? what if they stay here? >> well, nothing wrong for the talent staying here. in fact, most of the top notch talents stay in taiwan working for tsnc, media tech and many other famous companies. >> you have got great companies but you see my point there. >> yes. >> is that the best and brightest in some ways ought to stay home. if i were running the place. >> well, not really because the world is as we call it the earth getting flatter and flatter. >> right. >> basically the distance is shrinking and the collaboration really is a key factor worldwide and for taiwan what we see
really is the innovation and the startup spirits, was great in the 1990s decade because that was the ring tail era but not now. once we get into the internet area in the last 10 or 15 years taiwan was still strug until that aspect. most of the people who work in the industry doing really well in taiwan, they stayed there, but they are also the talents who wants to get into the new segments and where should they go? what should they do? as you pinted out before, staying in the silicon valley before we look at everyone trying to replace. nowadays it's like, no let's join. not only are we in the silicon valley, it's the whole bay area all the way up to san francisco and beyond, right? >> so these entrepreneurs, what are their backgrounds? are we nebraska coming out of the taiwanese semi-conductor companies or fresh out of
college? >> all kinds. really all kinds. usually when you stay in an industry like the semi-conductor which is relatively mature, well-defined, their dream may be working for tsmc, umc or a few other big ones, but there are many other new market segments, right, internet related as we have seen here for so many years now, internet things is another bus words plus many others. what we saw so far there are many, many different applications, people dive into and believe that as a lot of the younger generation right here in the bay area, they believe that they can do something really making a positive influence to the world. >> and many of them because the market size is small in taiwan and because taiwan let's call it reg testify success in the 1990s leads to some thinking thinking that, hey, we really need to
reach out more worldwide. >> i'm curious, how this works logistically. is the government investing in some of these companies or is it merely a facilitator as they find private funding? >> facilitator. we know government is not appropriate to do business, nor really helping on the entrepreneur side. so in fact the government delegate this task to a nongovernment organization, industrial research technology institute with 600 researchers plus some other contractors kind of like our national lab here in the u.s. one of the -- as we mentioned like tsmc was a spin off from etri, morris chan, the chairman, was the president of etri. so etri has that tradition, spinoff companies. we want to leverage the interaction with the local talents, the accelerators, 500
startup, many others. >> larry, as you bring in young taiwanese you also are teaching them about how we do things in northern california. with the short amount of time we have left what's the one time you tell them? you are in silicon valley, the thing you need to know about this crazy place is? >> total immersion and they need to be more proactive, keep their integrity and also most important learn the spirit of collaboration here. they were all surprised as i talked to them they say, wow, we didn't expect people here collaborate so much, but i believe as i'm an entrepreneur myself that's one key factor for success here. >> i put on the uniform of the hoodie, yeah? >> why not? i think young people everywhere are wearing hoodies at this point. >> dr. larry wang with the taiwanese entrepreneur center which i'm assume something thinking about maybe a shorter
name. >> that's another thing as we know with taiwan with the long culture over the years they are very formal and here, right, you want to be very spirited, so we use the abbreviation tiec taiwan. >> that's still not an abbreviation. >> not short enough. trust me, we like to do something but as i was saying in the opening ceremony what is the major challenge, i will say mindset. >> and with that i'm going to cut you short. all right. thank you larry wang for being with us this morning. we will be back in just a moment.
damian trujillo: hello and welcome to "comunidad del valle." i'm damian trujillo, and today dr. hilaria bauer is back on our show, plus the innocence project on your "comunidad del valle," male announcer: nbc bay area presents "comunidad del valle" with damian trujillo. damian: we begin today with the mission neighborhood centers out of san francisco. with me is the executive director and i'm presuming founder of it, sam ruiz, who spent over 30 years working in the community in san francisco. welcome to the show. santiago ruiz: thank you very much. damian: now, we have video from--that y'all sent us, but what a great endeavor. what was it that made you say we need to do something here in our neighborhoods? santiago: well, the reality is that we want to be able to prepare children to succeed in school, to enter college, and to graduate from college. and in order to do that, we realize that there's a certain level of steps that we need to take in order to make sure