Yesterday we had the pleasure of hosting Dr. Michael Crow, President of Arizona State University. On Monday, we spent the day in Phoenix with Dr. Crow and his team, learning how ASU has been rethinking and reshaping the traditional university model to better reflect today’s fast-paced, high-tech world. The changes we saw are significant. Michael and his team are bringing innovation and disruption to a space long associated with tradition and stability. We loved the day and were delighted to have Dr. Crow join us for COBT.

Before joining ASU as President in 2002, Dr. Crow served as Executive Vice Provost at Columbia University. His book Designing the New American University (2015) outlines the philosophical ideas he shared with us. At Veriten, we think of ourselves as an energy “knowledge platform,” so it was inspiring to talk with Dr. Crow about how to redesign the world’s “knowledge machines”— our universities. As you’ll hear in the discussion, ASU today is the nation’s largest university, with nearly 180,000 students enrolled across itheir in-person and virtual platforms.

Our conversation covered a wide range of issues, opportunities, and new ideas shaping higher education. Since 2002, Dr. Crow and his team have worked to transform ASU’s culture and philosophical approach, putting student learning and advancement back at the center of everything. We discuss how technology adoption has played a role, how Arizona shaped the outcome, how ASU expanded beyond state borders, and how the university’s unique approach to funding has enabled growth. Most importantly, you’ll hear how ASU embraces a customer-centric, partnership-driven mindset that is pushing both direction and outcomes. Many institutions talk about changing the world—at ASU, they are attempting to do so at scale. Through new teaching technologies and methods, they are exporting their approach to other universities as well. In a time when elite institutions are often criticized for stagnation, Dr. Crow’s vision is a refreshing reminder of the art of the possible.

Turning to markets: Mike Bradley began by noting that the 10-year bond yield (4.3%) remains in a very narrow trading range. Even with last week’s hotter-than-expected PPI report, markets still overwhelmingly expect the Fed to cut rates by 25 basis points at the September 17th FOMC meeting. He also highlighted that markets will be laser-focused on Chairman Powell’s Jackson Hole speech this Friday, a venue often used for key policy announcements on inflation and employment—so expect some volatility later this week and into next. On equities, Mike noted that the S&P 500 hit another all-time high last week but is pulling back this week on a modest (2–3%) decline in the Tech sector. NVIDIA and a few large retailers are the last S&P names left to report Q2 results; after that, markets will likely be more driven by global events than earnings. On crude oil, WTI continues to drift lower (~$62.50/bbl) amid hopes of a Russia–Ukraine peace deal. Finally, Mike highlighted the all-stock merger between Black Hills Corp and Northwestern Energy Group, creating a $15+ billion regulated electric and natural gas utility. 

We hope you find today’s discussion as insightful and engaging as we did. Our best to you all!