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Elites from big finance and big tech have supported an attempted hostile takeover of universities by a US president. This is strange on its surface. Many of these same economic elites are alumni of and donors to elite universities. Some even have university buildings named for them. Drawing on his book, Bankers in the Ivory Tower: The Troubling Rise of Financiers in US Higher Education (University of Chicago Press, 2022), Eaton will discuss how this war on universities may be understood as a power struggle over the knowledge and status that universities produce and legitimate. On one side, fragmented left-liberal cultural elites (including academics) have advanced ideas about inequality and diversity. These ideas have been embraced by a demographically changing professional, managerial class (PMC), parts of which are beset by economic precarity. On the other side, financiers and tech elites have allied with right wing political and cultural elites to fight these ideas as an existential threat to their legitimacy. The outcome of this struggle may depend in part on which side can win the allegiance of a working class that has other things to worry about. The implications will be explored for defending and rebuilding universities as more popular institutions in the broad public interest. Following his lecture, Eaton was joined in conversation by 3CT fellow Gabriel Winant. –– Recorded May 15, 2025. All rights to the words and ideas expressed in this video are retained exclusively by their authors. If you would like to reuse a segment of this video, please contact the Chicago Center for Contemporary Theory to request permission.