On Prestige

He had a square face, a widow’s peak, and a strange surname.

And for a moment, Jack Gohlke had America’s heart.

Gohlke, you see, was a graduate student at Oakland University. But he was also a basketball player – one who specialized in long-range shooting.

And for one night in March, Gohlke couldn’t miss.

Oakland was facing the venerable Kentucky Wildcats – college basketball’s winningest program – in the NCAA (National Collegiate Athletic Association) Tournament. Kentucky had a name brand, elite athletes, and a high-octane offense. But they didn’t have an answer for Gohlke.

The twentysomething with a square face and widow’s peak connected on 10 three-pointers, leading Oakland to an upset victory. Some pundits quipped that a team full of future NBA (National Basketball Association) pros got beat by a future Regional Manager of Enterprise Rent-A-Car.

A day later, the nation was captivated again. The Yale Bulldogs stunned the Auburn Tigers in another NCAA Tournament matchup.

Auburn didn’t have the basketball bona fides of Kentucky. But NBA Hall-of-Famer Charles Barkley once sported their uniform, as did many other pro hoops stars. And the Tigers competed in the same athletic conference as the Wildcats, playing games under the bright lights of massive arenas.

They were no slouch. But just like Kentucky, their championship dreams were over in a flash. The surprise result only adding to the lore of the sporting event nicknamed March Madness.

Following the game, the Auburn coach lauded Yale’s team. He then harkened back to his early coaching days, when he led the University of Wisconsin-Milwaukee Panthers to Tournament victories over vaunted opponents.

I know what it’s like to be them, he exclaimed.

From my sofa, I chortled.

No, you don’t, I exclaimed out loud. None of us do.


College degree required.

These three words have long been hallmarks of job postings. And while that’s changed a bit in recent years, a degree can still hold plenty of sway.

I know this as well as anyone. I have two diplomas hanging on my wall — one for a bachelor’s degree, another for a master’s degree. I’ve seen the impact each has had on my career, and my life.

And yet, there’s an unspoken truth surrounding those framed pieces of embossed paper. The institutional name printed on the top matters more than my name printed in the middle.

Sure, the schools I attended do carry some cachet. Their names enhance discussions I have while networking or applying for jobs.

But other universities have bigger names. Names that can start these conversations on their own. Or even render them moot, entirely.

To underling this point, let’s take a closer look at those two schools that authored upset victories in March Madness.

Prior to those basketball games, you’d be excused if you thought Oakland University was in the East Bay of California. Many shared that misconception.

The few who knew where the school was actually located – namely, the suburbs of Detroit – were the ones who were more likely to value the name atop the diploma. Which is to say, the institution didn’t have much sway outside Michigan before Gohlke connected on some three-pointers.

Meanwhile, everyone knew where Yale was located. And even if they couldn’t describe what the city of New Haven, CT looked like, they understood what a Yale degree represented.

Yale, you see, is one of those names atop a diploma that renders a conversation moot. The institution’s reputation alone can opportunities for its alumni. Opportunities many of us can only dream of.

A glance at a list of prominent Yale alumni will feature award-winning authors, business tycoons, accomplished attorneys, political leaders, and much more. Five United States Presidents got a degree there. As I write this, one third of the U.S. Supreme Court and nearly a tenth of the U.S. Senate are former Yale scholars.

The one area where the prominent alumni list is slightly shorter is in athletics – particularly in football and college basketball. There are many reasons for that – including a paltry athletics budget and an institutional ban on athletic scholarships. But it leads to a scenario where Yale’s basketball team are the little guys, fighting off vaunted opponents like Auburn on the big stage.

The absurdity of all this is palpable. The gap between Yale University and Oakland University is as wide as the 2,200 miles between the cities where they shocked their vaunted opponents on the hardwood.

Yet, for a few days at the start of spring, we conflate them. We shroud ourselves in the underdog spirit. And we forget which direction up is.


Many years ago, some floormates and I held court in a cramped dorm room.

We were new to college and new to being neighbors. And we were going through the getting-to-know-you routine.

At some point, the conversation turned to what other schools we had applied to. Where else might we have been, if circumstances were different?

One of my floormates exclaimed that he’d been accepted to Auburn University. But he cautioned that you only need to be able to sign your name to get in there.

It was a joke, I thought. But I wasn’t completely sure.

After all, I had applied to a university with a somewhat similar arrangement. Maintain a certain high school Grade Point Average or get a certain score on a standardized test — and you’re in automatically.

I cleared both bars with ease. Only to spurn that institution for the one I now sat in.

To this day, I have no idea if the admissions qualifications for Auburn University were ever as simple as signing one’s name on a piece of paper. But the truth only matters so much.

Indeed, this perception of Auburn University as a cupcake school is what’s so damning. It limits the horizons of those who graduate from that institution.

Their four years might have been spent doing far more than drinking beer and tossing rolls of toilet paper into oak trees. They might have spent much of that time in the library or the research lab, molding themselves into young professionals.

But to attain the future they were striving for, they’d need to fight uphill. Auburn’s reputation – unfair as it might be – was sure to cast a long shadow over these graduates. A shadow that didn’t exist at – say, Yale.

This is why I was so troubled by the dueling underdog stories of the Oakland University and Yale University basketball teams. It wasn’t just that Yale held a level of prestige that Oakland never would attain. It was also that this narrative took away the one thing that institutions between the two on the prestige scale could claim.

If getting a job on Wall Street or Capitol Hill was so much tougher for an Auburn alum or a Kentucky alum than a Yale alum, couldn’t they enjoy athletic glory? Or at least not get mocked as the toppled giant when they fall short?

Was that too much? Apparently so.

Make no mistake. Yale University is no David with a slingshot. It’s Thanos with all the Infinity Stones.

It is inevitable. And it’s time we recognize it as such.


Back in that cramped dorm room, I recounted my own would have journey.

Yes, I qualified for that one school by meeting two of its standards. And I had clearly gotten accepted to the university I now attended.

But I’d applied to plenty of others. All with nationally recognized sports programs. And all with campuses on our nation’s southern tier.

I was entering college as a student, not a student-athlete. But I still wanted to attend an institution with a host of school spirit. And somewhere without snow.

In March Madness terms, I was aiming more for an Auburn than a Yale. (In reality, I applied to neither of those schools.)

It was only later that I learned the cost of this choice. It was only later that I understood the value of prestige. And how the collegiate culture I sought would leave it out of reach.

It was a bitter pill to swallow. But that experience helped me grow into the man I am today.

I don’t rely on prestige to open doors in my life. That option is off-limits to me.

I must work four times as hard as those twice as fortunate. I must be magnitudes better just to get my shot at achievement.

I’ve made my peace with this arrangement. For it reflects the way the world is organized. And that setup is beyond my control.

So, let’s not feign ignorance.

Yes, we can celebrate when a square-faced sharpshooter outshines a gaggle of future NBA pros. Yes, we can bask in the glory when the alma mater of presidents earns a rare NCAA Tournament victory.

But that’s no excuse for getting carried away.

We must stop acting as if power dynamics have shifted on the wings of two nights in March. We mustn’t pontificate about prestige flowing in new directions.

That hasn’t happened. And if past is pretense, it won’t happen.

It’s high time we govern ourselves accordingly.

The Advantage

The house always wins.

If you’ve ever been to Las Vegas – or anywhere else with a casino — you’ve probably heard this mantra.

It’s a word of warning. A shot across the bow to anyone who thinks they can tip the scales in their favor when they gamble.

Sure, some lucky people here or there might hit the jackpot on the slot machines or win at the table games. And those big winners might score loads of money.

But ultimately, whoever owns the place comes out on top.

For the laws of probability prove that for every jackpot winner, there are plenty of others who put their money down and get nothing in return. And anyone who tries to take a shortcut to success — by counting cards in Blackjack, for example — is booted from the venue.

Yes, the moment we walk into a casino, the house has the drop on us. It has to so that the owners can cover those giant payouts — and make profits. If we fail to recognize this, we’re the suckers.

This is why I don’t gamble. It’s why you won’t see me feasting on $40 steaks, ambling up to the card tables, or hitting the slots.

I know which way the deck is tilted. And I ain’t playing.


There are plenty of jargony phrases in the business world.

Terms like EBITDA and revenue can delineate failure and success. Acronyms like IRR and EPS demonstrate how much money can be made on investments.

These words mean everything inside corporate boardrooms. But outside of the office, they’re little more than gibberish.

This is the way it should be. There are far more important things in life than discounted cash flows. Things like our health, our families, and our sense of belonging.

Even so, there is another concept that has use far beyond the business world. That concept is Arbitrage.

Arbitrage represents the advantage businesses try to seek. It’s the difference between what they pay for an item and the value they get out of it.

In order to make money and sustain success, businesses need to seize arbitrage wherever they can.

This is why casinos stack the deck against us. This is why companies devote entire departments to innovation. And this is why the titans of industry keep acquiring fledgling companies.

For years, I couldn’t stand this concept. I thought that working in the business world meant screwing over someone else. And I didn’t want to live that life.

I never saw the movie Wall Street as a kid. But I definitely would have taken issue with the character Gordon Gekko, who infamously proclaimed that Greed Is Good.

In fact, when I was asked to draw my fears at age 11, I didn’t sketch a Great White Shark or the Loch Ness Monster. I drew a man in a suit on a train platform, holding a briefcase and looking forlorn.

I had no idea how so many could willingly sacrifice their conscience for a taste of success. How could they sleep at night knowing that their gains were built on the misfortunes of others?

To me, arbitrage was nothing more than a mark of shame. But gradually, my thoughts on the matter have shifted.


Western Europe has many things going for it. Picturesque cities, renowned cuisine and timeless works of art — just to name a few.

But freedom of vocation is not on that list.

In many European countries, students must decide on their preferred profession as teenagers. Then they must pass entrance exams, which will let them pursue secondary education in that field. Beyond that, their professional future awaits.

There is little room for second-guessing or changing one’s mind. One adolescent decision carries the burden of destiny.

I’m thankful I wasn’t raised in such a system. Because truth be told, I had no idea what profession I would want to work in when I was 18 years old.

I entered college with aspirations of becoming a Hollywood screenwriter, only to find that I lacked passion for it. I shifted my focus to broadcast journalism, and I managed to work in the news media for three years. But then I pivoted again, ending up in the business world I’d once abhorred.

Such a winding path is quintessentially American. This is a nation where college dropouts can create trillion-dollar tech companies. It’s a culture where the words serial entrepreneur are celebrated, not reviled.

There is always an opportunity to try something new. To pick ourselves up by our bootstraps and try a new path.

But lost in such possibilities is any semblance of meritocracy. We can’t rely on the system to buoy us. We must seize whatever advantage we can.

We must embrace arbitrage.

Leveraging our advantage might mean doing something small, like focusing on our uniqueness during a job interview. Or it might mean something big, like dropping everything to seize an unprecedented opportunity.

These actions can help us. But by proxy, they can deny others.

And yet, we must accept this subtle cruelty. Because our selfishness ensures our survival.

There has to be another way.


Elon Musk is a polarizing figure.

The multibillionaire is brash, bold, and highly controversial. Plenty of people are repelled by his ego, his antics, and his wild commentary.

Yet, Musk has his admirers as well. For the companies he’s created — Tesla and SpaceX, among others — seek to solve problems that could benefit all of us. Efficient vehicles and ubiquitous space travel can broaden our horizons and redefine our future.

Musk is a torchbearer for a new type of arbitrage. One where an entire society benefits from the advantage.

And while few of us could be Elon Musk — and many wouldn’t even want to — we can follow his lead.

We can use our talents to improve more than our own situation. We can seek out the advantages that benefit our community. And we can leverage arbitrage to bring a positive change to the world.

The pursuit of this type of advantage can steady us. It can provide us the sustenance we need to thrive, without compromising our conscience.

It’s still a zero-sum game. But it’s got far more room in the winner’s circle.

So, let’s be smart about the advantages we seek. And let’s do our best to spread those benefits far and wide.

The Forewarned Disadvantage

Does knowing the risks ahead of time make something worthwhile?

For the longest time, I would have said the answer to yes was this.

After all, mental preparation can be critical. If you know ahead of time that something bad might happen, you’ll ideally be prepared for it. Or at least you won’t feel blindsided by it.

This means you’ll be better prepared to navigate your way out of the trouble you encounter.

You’ll spend less time wondering What happened? and more time determining What’s next? Which can make all the difference — particularly when facing potentially lethal danger.

Of course, there’s an unspoken expectation that goes with this reasoning. One that assumes those with knowledge of the risks will somehow be less affected by them.

That somehow, these well-informed risktakers will take the lion’s share of the associated jolt at the point when they read the list of side effects. Not when trouble is at their tail.

This is why the term They knew the risks is so commonly used by those pundits who analyze the aftermath of disaster.

The translation? At least they were prepared.

This, of course, is ridiculous.

Nothing will soften the blow when something goes wrong. No prior knowledge can truly prepare you for the in-the-moment sensation of the train going off the tracks.

I know this firsthand. Not too long ago, I enrolled in a medical program that carried both great risk and reward.

By sticking to the program, I could eradicate my seasonal allergies. But the potential side effects of this program were grave, even lethal.

I was well aware of these side effects going into the program. I had to go through extensive training on warning signs and protocols. I was even given an EpiPen for emergency use.

But yet, I moved forward.

For several months, I saw no ill effects from the program. If anything, I could sense my health improving.

Cat dander no longer set my eyes watering. And the start of spring no longer gave me the sniffles.

But one day, my chickens came home to roost. The side effects I had learned about became all too real.

I knew immediately that something was terribly wrong. Being forewarned of the risks gave me that advantage.

Yet, while I was able to act quickly to stem the tide of trouble, doing so gave me no peace of mind. It didn’t remove the sickening feeling of my body spiraling out of control, or the sheer terror of being on the brink.

The symptoms I felt were just as raw and vivid as those of food poisoning or other surprise ailments. Knowing the risks ahead of time didn’t comfort me one iota in the moment.

There’s no telling if I’ll start the program again. The decision is out of my hands.

But even if it weren’t, it would be far from a slam dunk decision for me to continue. My urge to climb back on the horse is tempered by the sensation of once bitten, twice shy. A life-threatening ailment will have that effect on you.

Either way, I now think far differently about the significance of being forewarned.

I now think the conventional wisdom is wrong.

You see, all too often, we lionize those who feel the fear and do it anyway. We downplay the danger while promoting bravery.

It’s as if being brave makes us Superman. As if seeing the brick wall around the corner will keep us from breaking our bones when we slam into it at full speed.

This narrative is simply not true.

The risks we expose ourselves to are real. The pain is real. The ensuing emotions are real.

Forewarned or not, we’re bound to experience them all when trouble rears its head.

Perhaps ignorance is bliss. Perhaps being forewarned is actually a disadvantage.

I guess it all depends on our perspective.

But either way, it’s important to note that bracing for impact will only get us so far in the event of disaster.

Proceed accordingly.