Andrew Heaton

And some people are going to have it in 1950, like 2% of people had a graduate degree, maybe 6% had an undergraduate degree.

But in the 1980s, we went, everybody has to get a college degree.

If you don't get a college degree, you're a loser, and you don't get to be part of the social pyramid, right?

Yep.

With a college degree, if it's a positional good that's predicated on the value being other people don't have it, you can't equalize it.

The value can't be egalitarian.

So we pushed everybody into that system.

You also have a limited amount of college spots that are available, but you have people coming in and you have money coming in, capital coming in.

Too much money chasing too few goods is going to increase the price.

You're going to cause inflation there.

So college, we pump too much money into it in terms of student loans and things like that.

The federal government has...

We agree on that one.

Yeah.

Okay, great.

So college there.

Yeah.

So wait, why are you thinking that housing has gotten more expensive because of free trade?

Well, I'm happy to talk about OnlyFans.

Cyber-industrialization.