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 Harvard has a $53 billion endowment, pays its investment managers like Wall Street bankers, and calls itself a nonprofit. In this episode, we expose how America’s elite universities have become hedge funds masquerading as schools—hoarding wealth, overpaying executives, and saddling students with lifelong debt, all while enjoying tax-exempt status. We compare them to their European counterparts, explain why free college is impossible under this model, and argue it’s time to tax the empire hiding behind ivy-covered walls.