What's Wrong with the Presidential Debates?

I was asked to give a talk at the University of Chicago this afternoon to some MBA students about the Presidential debates.  The lecture was done via WebEx, and this is the audio from my audio recorder that I sat down next to the laptop. You can't really hear their end very well, but to be fair, the WebEx recording doesn't pick them up either. The questions from the Q&A are repeated to me so you get the benefit of that as well. 

Here's what I said. I think a pretty good critique of the debates might contain more specifics, but I thought approaching it broadly might be better.

I wonder if these events will ever change. Seems to me we're stuck with them, at least until a force more influential than the Commission on Presidential Debates takes over. Looking at you, Facebook.