Steve Forbes: success, failure and digital media

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On Tuesday night, Wentz Concert Hall had a full house for Steve Forbes’ keynote lecture on capitalism. Invited by North Central’s College Republicans, Forbes touched upon many topics from the free market to college debt.

“Are free markets perfect? No, because people aren’t perfect,” said Forbes, discussing the importance of the free market. “Not everyone likes their neighbors, but that does not stop them from selling to them.”

He also addressed the success that comes from those who fail. In order to be successful and knowledgeable, a person must experiment and fail. Forbes used Henry Ford as an example of a man who once failed greatly, but later became a well-known entrepreneur.

During the Q & A, Forbes discussed the growing industry of digital media. Seeing as Forbes is the CEO of Forbes magazine, he has seen the change from traditional media to digital media. “Print journalists thought .com journalists were trash,” recalled Forbes. However, he said that the web is dramatically changing traditional media. “Sixty-five percent of readership comes from handheld devices alone,” said Forbes.

The last question of the night regarded Forbes’ solution to cutting the cost of college debt.

“Where’s the exit?” Forbes joked.

Administration stock has skyrocketed and that is having a large effect on college debt. Cost for college should not be going up like the cost of living, he stated. Because of the cost of college, 50 percent of students graduate within six years and that is hurting entrepreneurship. His solution is to simply stop the rise in cost of education.

“The event was a huge success; we had a nearly sold out crowd. Mr. Forbes discussed topics relevant to all demographics that should continue to foster civil discourse at North Central and the community,” said Michael Koehne, president of the College Republicans.

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