taiwan becomes the first asian country to launch a state-sponsored inc. cube baiter here in silicon valley. the nasdaq comes to san francisco. and the former president of yale sits down with me to discuss the future of education in an internet world. our reporters, joe mann of reuters and hannah kutcler of london times this week on

"press:here." good morning, everyone, i'm scott mcgrew. we were debating the other day what industry has seen the most disruption. the easy answer is taxicabs because of uber mubut the winni answer in my mind is college. traditional colleges are facing all kinds of disruption. parents and students are balking at high costs and resulting massive student loans. state governments are cutting funding in state schools. the president is pushing for free enrollment in community colleges. and on top of all that the internet is bringing college courses to millions. no one knows more about the business of college than rick levin. he is an economist. he was the president of yale for 20 years. the longest tenure in the school's history. and now serves as the ceo of course air is rah a for-profit education company that offers open, online college courses in a dozen languages, in partnership with more than 20 universities.

joined by joe mann of reuters and hannah kuchler of the financial times. lots to talk about including course air is rah. that is the beginning and that is the traditional four-year college with a campus. what is the state of colleges these days? >> well, you know, i think it's good. the top colleges in the united states are still the best in the world and still attract the best students. and that four-year experience is still an extraordinary valuable experience. some of the concern about the worries of colleges are overblown. the biggest single problem has been underfunding by state governments of the state institutions, which are where the real cost of attendance has gone up dram emptyically. less so for private colleges in the united states. actually, the net cost, after financial aid, less than -- less than 1% a year over the last 15

years. >> so, what do you say when people say it's just too expensive, it's not worth it anymore? >> billion, i think the data show the opposite is true. it is worth it. the lifetime earnings expectations are clearly are still positive rate of return. it is true, that's an average and there are people who get really snuck a bad situation where they can't afford to repay lopes. the student loan problem is very largely a problem -- a problem of state government having eliminated the support for state schools, which are the majority of the students in this country. and they -- and so they have to take out way more loans than they did 20 years ago. >> what do you make for the push for junior colleges? will that make sense for lots of students? >> it does make sense for lots of students and much more vocationally oriented and gets people into jobs, so you know, i think -- i think the emphasis on getting people that opportunity is -- remains -- >> and there's so many classes that are just sort of the gut

classes, the basic english 101s. now, would you -- would you have taken -- >> people need to learn how to read and write. >> they do it would be nice if they did that before they got to college. but these days -- >> i'm a big fan of english 101. >> that's right. english 101. whether i'm going to pay x-number of thousands or x-number of thousands for english 101. we can use yale as the example, there's a certain culture to hail or to harvard or to oxford in which, you know, you ought to be there all four years, that i think that could be at risk if -- if students were to come into a school, whether it's michigan state or harvard, late. >> the networking opportunities as well, right? >> yes. i mean, look, very top schools in the united states and the uk, i mean, they are gonna remain very valuable places to go because of the fellow students you have and the lifetime bonds you form.

but let's remember that is only a small fraction of the people out there and lots of people are going to college for the -- you know, basically in order to get a job and that's where online education can come in and help and supplement and augment what gets done in the bricks and mortar institutions. >> i want to talk about that sort of period of adjustment we seem to be in, different colleges are trying different approaches to online course work. some of them are ignoring complete labor day some of them are saying, we should do that and just have the sections be reserved for q & as there a consensus emerging about the right educational approach to what you put on a video and what you need human interaction for? >> i think -- i think the data are starting to show that this blended learning approach, where do you some material by video prior to coming into a classroom and having discussion actually works better for mastery than either approached separately. so i think -- it's still in its infancy. i think you will see more of it i think more schools are experimenting with it and in a way this is a generation that's

more acclimated to learning from video than from print. and so, the idea of the way using video to replace the textbook make a lot of sense. and, you know, we are undoubtedly going to be part of that >> do professors by on that? they see -- some of them see it as a -- >> you know, we are still at the low end of the s-shape diffusion curve. there are early adopters doing this very successfully. it is not that easy to do well. >> no, it's not. >> you have to figure out what do want do in the classroom after the people have heard your lecture? >> i will say, we have seen this many times and maybe tooting my own horn, but video and television is much more difficult than it looks like. okay. so, why does a guy go from being the president of yale, longest tenure at yale to running coursera? >> i think it is opening up a whole new frontier for the world. it is extending the -- it's extending the mission of what the great universities can do, 'cause they can bring their talent, they are they can bring accumulated scholarship of their

faculties to the whole world. that's the essence of it. by the way, 120 university, not 20, producing content for us. >> oh, my goodness. >> and the reach is enormous 15 million registered learners. the -- and they are all stages of life. i mean, the real mission of coursera is to be the place that you go to learn throughout your lifetime, you know, think of, you know, google as the place you go to search and amazon the place you go to shop, we want to be the place you go to learn, not just to replace college, but to supplement it all the way through your lifetime, upgrading your job skimlls, think of how fast things are change. >> easy to see you want to catch one something that happened the ten years since you were in college, 20 years, what about as a college replacement. are we approaching that? going to be some people that don't need to go to college because they can do this stuff from their bedroom? >> we are not -- we are not getting there yet. coursera's focus has really been on courses that -- where we give

you certificates. we have one experiment going on now with an online degree program at the university of illinois, doing a master's degree program in conjunction with their open coursera courses. we will probably do more of that i think in the future, but what we are really doing now are suites of courses, you know, groupings of three or four courses we call a specialization that are giving people relevant job skills and particularly in business, data science and computer science and then really do help people adjust to changing work environments and also, people that never went to college in developing countries to actually get skills that they can use. >> this is what i wanted to talk about developing countries a lot been written about mooks, as they are called, sort of going into developing countries and there's always someone found, like a kid in his bedroom in pakistan or someone who has learn aid mazing things online. but how as a professor do you pitch a course to a learn around here upgrading their skills and

someone, you know, teenager in their bedroom in pakistan? >> you know, you just teach but what know and turns thought are people thought who can get it. that is one of the most inspiring things about this job, students with all kinds of backgrounds find benefit in these course. there are the 16-year-olds who use it as a vehicle to get into a highly competitive school in the uk or the u.s. there are people who never had an opportunity all of a sudden do computer-based startups based on the computer languages and stuff on coursera. quite amazing. >> i'm going to guess because do you take them on computer and sort of computer oriented one of your more popular courses are thing does with it and computers and is that a fair guess? >> yes, i.t. and computers very popular, business skills also and the real -- the really most successful single specialization we have is in data science, because that's field where so much has changed since anybody

went to school. what cause eusted to be called statistics is data science. >> sounds so much better. >> greater. a whole new set of teak next. 190,000 people in this field need it training thousands, tens of thousands in this field. >> if i didn't want to take that particular course, what would you recommend, give coursera a try and sort of course? >> recommend two single courses. one is called learning how to learn, taught by barbara oakly, the university of california san diego. it give use metaphor to think about how the brain works that helps you learn how to study. it is phenomenal. and then we just launched a course very recently by my colleague at yale on negotiations. if you want to learn how to

negotiate in a principled way and effective way, an amazing course. >> the ceo of coursera and former president of yale, thanks for being with us this morning. >> thanks for having me. up next, nasdaq builds a presence in san francisco. talk about it when "press:here" continues.

welcome back to "press:here." watch financial news channels and you would think the official

name for the stock exchange based in new york's times square was the tech-heavy nasdaq. >> the tech-heavy nasdaq. >> tech-heavy nasdaq. >> the tech-heavy nasdaq. there. 's no doubt the nasdaq has a lot of tech companies listed, including the world's most important tech company. but lately, many silicon valley companies have opted to list it on the new york stock exchange instead. [ bell ringing ] we don't know that's the particular reason nasdaq decided to build a new entrepreneurial center smack in the middle of san francisco. part school, part meeting space, part media center, the 13,000-square-foot entrepreneurial center will, no doubt, bring the nasdaq name to the attention of the next generation of tech entrepreneurs. nikolai corzine is expectative director of the new nasdaq entrepreneurial center.

she is not new to the bay area, she is formerly band of angels, one of the oldest groups in silicon valley and with credit suisse as well. what is an entrepreneurial center? >> all kinds of things, but at its core, it is an amazing non-profit hub, bringing in great founders to really learn and engage and the challenges and different moments they are faced with in this entrepreneurial journey they are on. >> we should underline this is the non-profit segment of the nasdaq organization. >> yeah. >> so this will not be a trading floor. it will not be a -- there is no trading floor for the nasdaq, but will not be a trading center. this is something else entirely? >> exactly. exactly. through the generosity actually the nasdaq educational foundation that the center was actually able to be born about a year ago. then nasdaq is one of our many corporate partners and spoon stores that are helping us underwrite these programs for entrepreneurs. >> so, you spent a really long time with band of angels and

angel inplayed a really important role here in the val. what is it you think you can do with nasdaq that you couldn't do about them? >> that's great question. i think one of the challenges that a lot of entrepreneurs and founders are faced with is kind of a safe haven in which they can kind of admit that which they don't know and learn from one another as they are growing through a left to difficult challenges they are faced with. even as i put on sort of the investor hat that i wore for many years, i recognize in a lot of the conversations i have with amazing founder, there was this moment of hesitation, i do bring you behind the curtain and actually let you know the issues that i'm really faced with? certainly, that's present inside of board meeting, certainly present in a lot of different situations so there needs to be an engaged safe haven for founders to really be able to be honest with one another, communicate effectively and hopefully learn and grow at the same time. >> so, what are a couple of the things they might be panicking about underneath? >> what? a lot of the time it has do with metrics and milestones that have slipped. right, so there's this expectation if you are down the path of deciding that for

investor optionality, you decided to go venture, you know, they are holding you accountable, very much, day in and day out of being able to meet those sales numbers, of being able to get those global expansion efforts under way, competing with all the tech talent wars definitely going on at this moment. so being able to actually have a place where they can say, not quite as easy as we had originally hoped for is very important. and to be able to then talk with other founders about what did you do when you also found that you weren't quite able to all that you hoped with with $500 should another very important place that they need to get help. >> if i don't really want to confide to a fellow entrepreneur around the same role i am, the same sort of sized company, can you help me find a better mentor? can you get me, you know, ceo of a fortune 500 company, as long as it traced on nasdaq? >> no, no promises. but very much what we are here to do is to serve great founders. so we are ever mindful of

listening to the issues that they are faced about. mentorship continues to be an issue that they have top of mind. >> so, is this something that i apply for? is it more we work or is it more accommodate? >> there is no formulaic approach those 16-week glass classes you go through. we are a and landing spot for entrepreneurs to come in once a month, four times month, whatever they need. for the application process it is a pay it forward mentality, come in with two strong points of references that will vouch to their commitment to entrepreneurship. in exchange, everything is pro bono, take that lesson learn and share it with five other entrepreneurs they are engaged with. >> let me ask the question a different way, how do i know i'm ready to walk into the nasdaq entrepreneur kbral center, no the too late but not too early? >> no, absolutely. so, we are stage agnostic, we really are meant to help, once a company has got to that point of being able to commit full time to doing it rather than a part-time effort, we are ready to help serve you. >> we are seeing more and more

companies stay private for longer, something that i'm sure the nasdaq has opinions on, given that it's a public market. how do you help people go public? >> a great question, too. so, for us, we are taking this industry and stage agnostic approach, honestly, because we haven't officially launched, our big launch is september 24th. a lot of the programming that we are developing is meant on about 70% on the preformation to kind of series a type of level. about 30% on what we would consider liquidity offerings or ipo readiness-type classes we will spill in the middle as things progress and not come out of the get and say we know what a midstage company needs. >> is there a class on listing, here's how to list? >> it is unlikely to be anything as direct as that because our mission is really to educate. so, what we with a want to be able do is understand the pros and cons associated with the challenge of getting ready to go public, right, so that certainly does come with pa whole new slew of regulatory issues,

compliances and balances and checks. so it's not going to be right for every company, as we are seeing. the other wonderful part for nasdaq's heritage this very big initiative now through the nasdaq private market which also helps companies understand the issues and look at different basis in which they can kind of get out if they decide not to get -- go public. >> nicola corzine, i would love to ask you about the private market. we will leave that for another time. absolutely. >> as we have run out. thank you for being here. >> my pleasure, thank you for having me. >> "press:here" will be back in just a moment.

welcome back to "press:here." lots of places around the world say they are the next silicon valley and know there's one and only one silicon valley, which is despite coining names like silicon beach or silicon fan at home, countries are setting up outposts here, in the real valley. the latest is taiwan, which is the first asian country to set up an official state-sponsored inc., cube baiter in silicon valley, place where taiwanese can come, open shop, find funding, learn how we do things in northern california. other countries official state-funded centers include france, germany, switzerland, iceland, norway, denmark, sweden and finland. dr. larry wang runs the taiwan innovation and entrepreneurship center, helping his countrymen and women understand business in silicon valley. thanks for being with us this morning.

>> thank you, scott, for inviting me here. >> so, here is my imagination. you are an official representative of twine and the taiwan government, right? this is a state-sponsored thing. you are bringing your smartest, your best people from taiwan to silicon valley. isn't that a risk for taiwan? i mean, what if they stay here? >> well nothing wrong for the talent staying here. in fact, most of the top-notched talents stay in taiwan working for, like, tsmc, media tech, and other famous companies. you have got great companies there but you see my point there. >> yes. >> is that the best and brightest, you know, in some ways ought to stay home, if i were running the place. >> well, not really, because the world is, as we call it the earth getting flat and flatter. right >> right. >> right. the distance is shrinking. the collaboration is a key factor worldwide and for taiwan

what we see really is that the innovation and the startup spirits was great in the 1990s decades, right? but not now. in the last -- once we get into the internet area the last 10, 15 years, talent was still struggling in that aspect. so most of the people who work in the industry doing really well in taiwan, they stay there, but the talents who wants to get into the new segments. and where should they go? what should they do pointed out before, staying the silicon valley before we look at everyone, trying to replace. no, let's join. not only in the silicon valley, bay area up to san francisco and beyond, right? >> so, these entrepreneurs what are their backgrounds? are they coming out of, you know, the big taiwanese semiconductor company or are they young kids, fresh out of

college, just want to try out new things? >> all kinds much all kinds much usually, staying in the industry like this semiconductor, which is relatively mature, well defined, they work -- their dream may be working for fsmc, umc and a few other big ones but there are many other new market segments, right, internet related, as we have seen here, for so many years now, internet of things is another passwords, plus many others. in fact what we saw so far, there are many, many different applications, people dive into and believe that a lot of the younger generation right here in the bay area, they believe that they can do something, really making a positive influence to the world. and many of them, because the market size is small in taiwan and because taiwan's -- let's call it relative success in the 1990s, leads to some people

thinking, hey, we really need to reach out more worldwide. >> i'm curious what -- how this works logistically? the government actual lynn vesting in some of these companies or is it merely a facilitators, they find private funding? >> facilitator. in fact, we know government is not appropriate do business, nor really helping on the entrepreneur side. so in fact, the government delegate this task to a non-government organization, each industrial technology research institute with about 6,000 researchers plus some other contractors, kind of like our national lab here in the u.s. so while the -- as we mentioned, like tsmc, was a spinoff from ishii. morris chan, the chairman was, he has the tradition of spinning off companies. we, here, in fact, want to leverage the interaction with the local talents, the 500

startup, many, many others. >> larry, as you bring in young taiwanese, you also are teaching them about how we do things in northern california, with a short time -- amount of time we have left what is the one thing you tell him, in silicon valley, the thing you need to know about this crazy weird place is -- >> total immersion and there, they need to learn to be more proactive, keep their integrity and also most important, learn the spirit of collaboration here. they were all surprised, as i talked to them, they said, wow, we didn't expect people here collaborate so much, but i believe, as an entrepreneur myself that is one key factor for success here. >> i put on the uniform of the hoodie, yeah? >> i think everyone is wearing hoodies at this point. with the taiwanese innovation and entrepreneurial center which i'm assuming is thinking about

maybe a shorter name -- >> yes. [ laughter ] >> that's another thing, as we know, in taiwan, with the long culture over the years, they are very formal and here, right, you want to be very spirited. so we used the abbreviation. >> see, that's still not an abbreviation. >> not short enough. trust me, we like to do something, but as i was asked in the opening ceremony, what is the major challenge? i would say mindset. >> and with that, i'm going to cut you short. >> all right. >> thank you, larry wang. thank you for being with us this morning. >> thank you very much. >> be back in just a moment.

that's our show for this week, my thanks to my guests. i'm scott mcgrew and thank you for making us part of your sunday morning. truhello and welcome

to "comunidad del valle." i'm damian trujillo, and today, a unique way of helping veterans, plus some more help at cet on your "comunidad del valle." male announcer: nbc bay area presents "comunidad del valle" with damian trujillo. damian: we begin today with using the internet in helping your children succeed in school. with me here is the founder of great schools, bill jackson. he's here to tell us about the unique programs that are available to parents. welcome to the show. bill jackson: thank you, damian. damian: well, tell us, first of all, about great schools. tell us about your organization. bill: so, great schools, we're a nonprofit organization with a goal of helping parents get a great education for their kids. and we're best known for the greatschools.org school guide, which features profiles of all the schools you could send your child to. so, that's job one often is to find which school