It is interesting that you used word 'gerontocracy', because it is the same word used by Thiel to describe current true owners of US financial system. I certainly do not disagree. I think some fresh blood is needed -- and not just in there or academia, but also on just about every political level.

I am personally kinda done with people, who don't understand basic technology. They should be retired. They should not have any real influence on what the current generation is doing.