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TPG Growth Fund Founder Placed on “Indefinite Administrative Leave” Over Role in Admissions Scandal
“The founder of TPG Growth was among dozens of people charged by federal prosecutors in an alleged $25 million college admissions cheating scandal that has ensnared prominent financiers and Hollywood actors, among others. TPG said on Tuesday evening that it had placed William McGlashan, who is a managing partner at TPG Growth and co-founded The Rise Fund, a social and environmental impact fund, on indefinite administrative leave, effective immediately, “as a result of the charges of personal misconduct” against him.” https://www.institutionalinvestor.com/article/b1dht3kl4n0bvk/TPG-Growth-Founder-Among-Financiers-Charged-in-College-Bribery-Scandal
Related: One of Silicon Valley’s most prominent private equity investors — and one of the tech sector’s leading proponents of how to invest ethically and for social impact — has been charged in an explosive college admissions scandal that was revealed Tuesday, March 12. Prosecutors charged Bill McGlashan, a founder and managing partner at TPG Growth — which has made landmark investments in companies like Uber and Airbnb — on fraud allegations for trying to engineer the admission of his son to the University of Southern California.https://www.recode.net/2019/3/12/18262003/bill-mcglashan-college-admissions-scandal-tpg-stanford-usc-yale
@BenWP Frank Bruni has a column in the NYTimes about how the playing field (for college admissions) isn't level due to the advantages wealth brings. Though he's writing more about parents who donate buildings or pay $50K for someone to guide a child's "career path" through junior and senior high to help get them into college. Not about the more mundane test coaching or tutors for school work. https://www.nytimes.com/2019/03/12/opinion/college-bribery-admissions.html
It's admirable that you recognize the difference money makes, even at this much lower level. Ultimately such a waste, because testing well on standardized tests has no practical use.
When I was in high school, my father put me up in a hotel room the night before an AP exam, because it would have taken me 1½ hours to get to the exam room otherwise. On the one hand one could argue that this was merely mitigating my disadvantage. On the other, it was still an advantage I got over others who also had to make the same trip. Though a difference here is that this was not a zero sum game. My doing well on an AP exam didn't mean someone else lost out.
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https://www.cnbc.com/2019/03/12/former-pimco-ceo-douglas-hodge-charged-in-major-college-cheating-scheme.html
To adapt an old saying re internet technical standards: "The nice thing about ethics is that there are so many to choose from".
https://www.nytimes.com/2019/03/12/opinion/college-bribery-admissions.html
It's admirable that you recognize the difference money makes, even at this much lower level. Ultimately such a waste, because testing well on standardized tests has no practical use.
When I was in high school, my father put me up in a hotel room the night before an AP exam, because it would have taken me 1½ hours to get to the exam room otherwise. On the one hand one could argue that this was merely mitigating my disadvantage. On the other, it was still an advantage I got over others who also had to make the same trip. Though a difference here is that this was not a zero sum game. My doing well on an AP exam didn't mean someone else lost out.