A fascinating read! I'm of the unpopular opinion that higher education is in a bubble in the financial sense of the term that could never pop and this a factor I've overlooked. Neglecting small maintenance issues—whether in a home or within the body—can lead to exponentially greater costs and consequences down the line. A minor leak today could turn into structural damage tomorrow, just as subtle heart irregularities can escalate into life-threatening conditions if left unchecked. In both cases, deferring necessary action to save money in the short term often results in paying tenfold later, both financially and in overall well-being.

If I were to entertain the thought of buying a college, I would lean toward acquiring a smaller, self-sustaining campus like an ashram, where both students and the surrounding community actively participate in its upkeep—whether voluntarily or through paid work. This model would prevent the institution from atrophying, ensuring that maintenance remains an ongoing, communal effort rather than an overwhelming financial burden.

A striking example of the consequences of deferred maintenance can be seen in the New York City subway system (MTA). Decades of underfunding and neglect allowed critical infrastructure to deteriorate, leading to severe service disruptions, increasing repair costs, and urgent emergency interventions. Only in the past decade have they seriously considered the situation. While the MTA has since made strides in addressing these long-standing issues, the failures of past leadership to commit to routine upkeep resulted in avoidable crises, proving that infrastructure, whether physical, institutional, or biological demands continuous attention to avoid catastrophic failures.

A relevant Charlie Munger quote that reflects this idea is:

"The idea that life should be navigated cautiously, anticipating and mitigating small problems before they become major ones, is a key lesson in both business and personal life. Small failures, if ignored, will snowball."