Hedge funders latest plan? More experimentation on CPS children

The latest offer of “help” from the hedge fund crowd comes from the Chicago Council on Global Affairs, which is establishing ELP Venture, a “venture philanthropy fund” to offer rewards for more education innovations to inflict on CPS students.

According to the Sun-Times, “Rather than focus on proven reforms, the group hopes to develop ‘the new, yet-to-be-proven reform,’ said class member Gillian Darlow, a principal at Civic Consulting Alliance.”

How have they done so far? Well, Global Council Chair, Bruce Rauner, was one of the corporate brains behind SB7 and its 75% “strike-proof” vote standard that was supposed to be too high for the Chicago Teachers’ Union to meet. We know what happened there. Rauner also supports the Noble charter network schools, one of which is named after him. We all know what those schools are like.

Rauner admits to his lousy track record in education reform: he “warned the group that the ‘school improvement wars’ was an important struggle but also was ‘ugly, dirty’ and ‘not fun.’ He said he provided $20 million to help with education reform and 80 percent of it was ‘wasted.’ ’’

But now they’re going to collect $10 million to fund more “unproven” boondoggles.

Hey Bruce – why don’t you mess around with your own children’s schools for a while and leave ours alone?

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About the PURE Thoughts blogger
Julie Woestehoff is PURE's executive director. Julie's work has earned her a Ford Foundation award and recognition as one of the 100 Most Powerful Women in Chicago.