>There are better things for a university to be doing than paying rainmakers

Dozens of university endowments are over a billion dollars, with significant returns when under good management. Ignoring the returns possible on that means the students and state has to pay more to continue the university. Endowments often consist of hundreds or more fund, usually set up by donors, to advance some part of the university, which very often is scholarships and other direct student benefits.

It's incredibly short-sighted to downplay them without understanding the benefits.

Good management is one thing. Rainmakers are another. I’m not sure why a university needs someone actively managing funds instead of using passive vehicles