Episode 4 - Our Business Model Is F'd
Ashley Budd saw it before most of the field did. Sitting in admissions at RIT, watching tuition climb and the enrollment cliff inch closer, she made a bet: higher ed was going to have to learn how to fundraise, and the old playbook wasn't going to cut it. She moved to Cornell, joined a brand-new digital innovation team, and got to work. But she didn’t just rewrite the playbook. She changed the game.
In this conversation, Ashley walks Mallory and Volt through the moments that shaped the modern advancement playbook: the Kickstarter-era realization that higher ed's business model was breaking, the first crowdfunding experiments at Cornell, the Black Thursday giving day that raised $7 million the same day the market crashed, and the stubborn, ongoing work of turning Cornell's giving day into a 12-year tradition that still grows while peer institutions plateau.
She also takes on the inbox. As co-author of Mailed It, Ashley has spent years arguing that email isn't dead — we just wish it were, because we've made it miserable. She talks about why 85% of higher ed communication is a call to action and why that's a problem. She unpacks the deceptively simple idea that's animated her whole career — alumni have lives, and our job is to insert ourselves into them through games, through kitchen art for new grads, through email people actually want to open. She closes on AI, returning to a trust framework as old as Aristotle to explain where the technology helps and where it will quietly erode the relationships we've spent decades building.
It's a conversation about reach versus relationship, the difference between running a playbook and reinventing one, and what it looks like to be the person who keeps moving the whole field forward.
🔑 What You'll Take Away
* Why higher ed's business model demanded reinvention, and what crowdfunding got right that traditional fundraising missed
* How Cornell built a giving day that keeps growing while peer institutions plateau
* What separates institutions running the playbook from the ones still rewriting it
* Why "email is dead" really means we've made it miserable, and how to make the inbox a place people want to be
* How to stop confusing reach with relationship in alumni communication
* Where AI helps, where it erodes trust, and the framework Ashley uses to tell the difference