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\r\n\r\nYesterday, I was sitting with William C. Mao ’27 and Veronica H. Paulus ’27 — our lovely Faculty of Arts and Sciences reporters — when they shared some news that made my jaw drop: this year, the FAS’s budget had run a structural deficit of 365 MILLION dollars.
\r\n\r\nI don’t know about you, but I have no good way of conceptualizing how much money that really is — at least, no way other than bothering our unfortunate reporters for half an hour and listing all of the things the FAS could’ve done with that money instead. Without further ado, here’s what FAS Dean Hopi E. Hoekstra could’ve bought with this money instead:
\r\n\r\n1. The name of the Harvard Graduate School of Arts and Sciences, back from Kenneth C. Griffin.
\r\n\r\nIn April 2023, the school was renamed after the billionaire hedge fund manager after he donated just $300 million. For $365 million? The FAS could probably get that and more.
\r\n\r\n2. More than 1.8 million yearlong print subscriptions to The Harvard Crimson.
\r\n\r\nI’d like to think the more than 420,000 Harvard alumni around the world — and their parents, and their grandparents, and their second cousins — would appreciate the gesture.
\r\n\r\n3. At least seven years of quarterback Patrick Mahomes’ contract with the Kansas City Chiefs.
\r\n\r\nI’ve now been to three Harvard-Yale games, of which we have won ZERO. Perhaps this is the type of out-of-the-box thinking needed to make sure that I — and the rest of the senior class — can finally experience what it’s like to rush the field when your team wins.
\r\n\r\n4. One semester of tuition and fees for every single Harvard College student.
\r\n\r\nJust one day ago, this might’ve said 730 academic years’ worth of laundry for students, but Harvard College Dean David J. Deming beat me to it. It’s not my place to tell Harvard how to spend its money, but…
\r\n\r\n5. A new ballroom, attached to the White House where the old East Wing building once stood.
\r\n\r\nU.S. President Donald J. Trump said construction was funded entirely by private donors. Is the FAS one of them?! Should The Crimson be looking into that? We probably already are.
\r\n\r\n6. Almost three floors of the Science and Engineering Complex.
\r\n\r\nThis one’s a guess — but it’s probably not too far off? The SEC was projected to have cost about $1 billion, so if you assume each of the eight floors costs the same amount to build, then $365 million gets you a little over a third of the way there. And the first three floors of the building are the most important anyway, so basically, you have the entire SEC here.
\r\n\r\n7. Enough computing power to train OpenAI’s GPT-4.
\r\n\r\nFree laundry is cool and all, but giving students an AI tool that could, say, help with homework (sorry, Dean Claybaugh) might’ve been appreciated by students across campus. Not me, though.
\r\n\r\n8. Triple the University’s publicly disclosed holdings in Bitcoin.
\r\n\r\nEarlier this year, Harvard reported that it had purchased 1.9 million shares of the iShares Bitcoin Trust, which at the time was valued at $116.7 million. Today, that stake would be worth $8 million less. Buy the dip, right?
\r\n\r\n9. Taylor Swift’s masters, according to Billboard.
\r\n\r\nI’m not sure if Taylor Swift would’ve liked Harvard owning her masters any more than Scooter Braun (nor do I think she should!), but I can’t help but imagine what could’ve been. Yardfest would’ve been awesome.
\r\n\r\n10 The Washington Post in 2013.
\r\n\r\nAll press is good press — unless you’re Harvard. By beating Jeff Bezos to the $250 million acquisition, the FAS could have bought itself an editorial page dedicated to personal liberties and free markets intellectual vitality and civil discourse. And maybe an Alan M. Garber ’76 presidential endorsement. What else can I say? Some friendly coverage would have gone a long way last year.
And there you have it, all of the things that FAS could have done with this money instead. We know it’s too late for this $365 million, but Harvard, if you’re listening, consider these as tips for the next one!
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