The Daily Valet. - 3/30/23, Thursday
✔️ Is This Worth It?
Thursday, March 30th Edition
By Cory Ohlendorf, Valet. Editor
Do you remember your first cell phone? Mine was a silver Samsung flip phone.
Today’s Big Story
Is College Worth It?
University costs are rising nationwide and now, Ivy-League Educations Are Approaching Nearly $85,000 a Year
Are you still making student loans payments? I'm a little embarrassed to say that I only recently paid mine off and I've been out of college for a long time. But over the last 20 years alone, the cost of education at public 4-year institutions has increased by a staggering 179.2% for the average student.And now some schools with that sought-after education are testing the limits yet again with another price hike to their already sky-high tuitions: Every single Ivy League college now charges upwards of $300,000 per student for four years of tuition, room and board. Which means even if you're one of the lucky few to get that coveted acceptance letter, you'll likely get hit with some serious sticker shock.The seemingly endless upward spiral comes amid an increasingly competitive environment to gain access to highly ranked schools. Brown University, for instance, says that its total cost of attendance, including tuition, room and board and indirect personal costs, will be almost $88,000 for the 2023-24 academic year. Cornell on Monday announced that its tuition and other costs for the next year—which likewise includes tuition, room and board, and personal costs like books and supplies—will top $87,000.But is it worth it? For the nearly 18 million high school students enrolling in college this year, their education will likely be the most consequential investment they make. And historically, investing in higher education has always yielded significant benefits. The Economic Data Initiative reveals that the return on investment of a bachelor's degree over a 20-year period has been 38.1%, with a lifetime ROI of 287.7%. But is that still true? Only 56% of Americans below the age of 30 said the benefits of their college education outweighed the costs, according to a recent Federal Reserve study.U.S. News & World Report says the question of whether higher education is delivering on its promise of upward mobility is under intense scrutiny given the pending Supreme Court ruling on student loan debt and the pressures of repayment. Today, more than half of students leave school with debt, resulting in 45 million Americans holding student loan debt totaling approximately $1.7 trillion. Certainly, the rising costs are one of the biggest reasons why fewer Americans are enrolling in college
FYI:
Georgetown University predicts that 70% of all jobs will require some college education by 2027.
A Call to Pause AI
Over 1,000 experts and executives signed a letter warning of the risks of artificial intelligence
A group of more than 1,300 technology industry executives and academics (including everyone from Elon Musk and Apple co-founder Steve Wozniak to IBM chief scientist Grady Booch) have signed an open letter calling for at least a six-month pause on large, open experiments with artificial intelligence.It was apparently prompted by the release of GPT-4 from Microsoft-backed firm OpenAI. The company says its latest model is much more powerful than the previous version, which was used to power ChatGPT, a bot capable of generating tracts of text from the briefest of prompts.The letter warns of potentially apocalyptic scenarios. “Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us?” it asks. “Should we risk loss of control of our civilization?” Industry watchdogs have warned that tech companies are effectively testing out new AI technology on the general public, and that the companies behind them are deploying them without considering broader consequences.
Scary Good:
GPT-4 can pass most AP exams and score in the 90th percentile of the standard bar exam taken by lawyers.
Music is so ingrained in us it’s almost more primitive than language .... it’s a kind of skeleton key, opening countless doorways in the mind. ”
- The New Yorker on the wild world of music
F.D.A. Approves Narcan for Over-the-Counter Sales
Drug overdoses are the leading cause of accidental deaths in the U.S.
This is good news: The Food and Drug Administration on Wednesday approved an over-the-counter version of the opioid overdose reversal drug naloxone. It's a move that many advocates have long sought as a way to improve access to a life-saving drug, though the exact impact will not be clear immediately.The over-the-counter Narcan, which will be sold as a single dose given as a nasal spray, can save a life in minutes. But it most likely won't be available until the late summer, according to the company. FDA officials have said that once approved, it could be sold in places such as convenience stores, grocery stores and even vending machines.Making the drug available more widely is seen as a key strategy to control the nationwide overdose crisis, which has been linked to more than 100,000 U.S. deaths a year. The majority of those deaths are tied to opioids. On Wednesday, public health experts urged health insurance plans to cover over-the counter Narcan. The American Medical Association said it hopes the drug is covered at little or no cost to consumers.
FYI:
Currently, Naloxone access laws in every state allow pharmacists to have a standing prescription so they can dispense Narcan or a generic brand to anyone who requests it.
Not Smart But Maybe Clever?
Dumb phones are on the rise in the U.S.
Smart phones may be everywhere these days, but dumb phones are enjoying a surge in popularity across the U.S. These are basic handsets, or feature phones, with very limited functionality. You can basically only make and receive calls and SMS text messages—if you're willing to tap them out on those physical phone buttons.They're the phones that some of us “geriatric millennials” grew up with. But now a whole new generation has a use for them. “I think you can see it with certain Gen Z populations—they're tired of the screens,” a moderator of the subreddit, r/dumbphones, told NBC News. “They don't know what is going on with mental health and they're trying to make cutbacks.”According to the BBC, Google searches for them jumped by 89% between 2018 and 2021, according to a report by software firm SEMrush. Companies like Punkt and Light are catering to the trend, selling devices geared toward those with a desire to spend less time on their phones and social media. And you can now find a slew of influencers touting these phones on YouTube ... if you're curious about dumbing down your phone.
FYI:
Only about a third of U.S. households have an old fashioned land line. But Lifehacker makes the case for bringing them back.
In Other News
The details were not immediately clear after the crash near Fort Campbell.
Have you heard about ...
A Weekend Challenge
Make Something of Dinner
This weekend, make a plan to make something of your dinner. Brett F. Braley-Palko wrote a great piece for us, about how the pandemic taught him to slow down and appreciate his meals. They don't have to be elaborate, but he and his husband are present and have learned to thoroughly enjoy them.“We turn on some music and use proper cotton napkins. Nothing fancy. In fact, they're stained with coffee and someone's lipstick from a past dinner party. But they feel good. There are taper candles in brass holders from a flea market. I found the simple candles at a dollar store—how can one resist when elegance is so cheap?The beauty of these rituals is that they are attainable. Nothing I am doing is particularly special. Sometimes dinner is frozen ravioli but I'll serve it on a platter with mint from our garden. Sometimes it's Chinese takeout, which we eat under candlelight with those cheap, splintery chopsticks. What I am saying is this: the rituals matter now. They have gravity now. If we aren't making these moments special ... well, who will do it for us?”
Get Started:
Shopping
What We’re Buying
An acacia wood side table
This is a small piece that can make a big impact in your home. Crafted from solid acacia wood, each table has natural wood variance to it and the wood grain's beauty is brought out by the ebony stain. The trio of cone-shaped legs give it a slight retro vibe but also make it feel extremely current. Use it as a side table next to your sofa or between two chairs. It makes a good nightstand or just a statement table to hold a potted plant. The point is, it's a great bargain for a piece of accent furniture that you'll be able to use for a long time.
Get It:
Mesa side table, $199 by Urban Outfitters
Morning Motto
Why stay the same?
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