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1/ Educational institutions bundle an education (knowledge) and a credential. The means of getting an education keep getting cheaper — at the limit, it’s just consumption of (free) knowledge — and it’s therefore the credential that’s getting more expensive.
2/ Why did all these rich and famous people cheat and bribe their kids into school? To help them get an education, or to help them get a credential?
3/ Ancient Credentials are not only backwards looking, and a poor substitute for accomplishment, but they are increasingly irrelevant in a world of real time feedback and measurement.
4/ “But would you see a doctor without an MD credential from a top school?” We should care about what you know, how well you practice it, and other relevant metrics
5/ But when those things aren’t easily available or normalized, we instead care about a document, often appropriately enough written in a dead language (Latin) about some past achievement.
6/ Which, coming full circle with today’s indictments, often means nothing.
