In this 129th episode, Steve joined in frank conversation with University of Wisconsin-Madison Chancellor Rebecca Blank as she approaches the conclusion of a nine-year tenure that dramatically tested her leadership and the university itself. There is considerable progress -- an increased graduation rate, shorter time to graduation, student debt reduction, improved diversity. The financial foundation of the university’s $3.6 billion budget has been systematically strengthened, through innovative fundraising and new partnerships with the private sector. But those gains are fragile, the university faces fierce competition from its peer institutions, serious financial and governance challenges persist, and changes in culture are difficult and require time. Worsening political polarization in the state is quite problematic. The university finds itself a “pawn” in partisan battles, and Republican legislators lag far behind in supporting sustained investments in the university. Covid-19 remains a live matter – it is not over – but the university has built better systems – ventilation, testing, vaccination, safety protocols, hybrid instruction – and created trust and commitment within the university community. Even without a vaccine mandate, the university achieved 96% vaccination coverage. The university responded to the shock of rising racist incidents and the drive for racial justice, in the aftermath of George Floyd’s death. Most significant has been changes in the recruitment and retention of students, faculty, and staff. Much work still remains: UW remains predominantly White in a predominantly White state.