“A customer can have a car painted any color he wants as long as it’s black”– Henry Ford
There is a lot of folklore about this quote, but if I were to summarize it in a sentence: Henry Ford wanted to minimize options and maximize production, and every choice reduced efficiency.
Today our schools are all about choice. And our universities are all about differentiating themselves from the competition. People don’t just go to MIT Media Lab or Stanford d.school for the name, they go for the reputation, the proven success, and the opportunity to collaborate with other elite students. They go for the experience. People want to walk the halls of Yale or Harvard.
I know a family in the US who pay as much as my yearly salary for their two kids to go to University every year… And those kids are home taking online classes. It doesn’t matter what car people bought in September, they are all driving the same colour now.
How will this change people’s view of these schools? How much value do the hallways have? The Ivy schools will survive, even in a depression there is always a market for luxury items. But not all universities and colleges will survive post pandemic. Some schools will become fast food chains… All online year-round service, or half the price and double the students. Others will specialize. Others will partner with big business.
Universities are having a Henry Ford moment. They’ve been reduced to the same choice for all. It will be interesting to see what options come out of this.
