When news broke last week of the massive college admissions scandal, we wish we could say we were surprised. But, this is a symptom of a system we’re fighting every day to correct. A system that is more concerned with pedigree than aptitude.
Until our society and economy stops valuing the name of an educational institution more than the inherent ability of an individual, we will continue to see those with means displacing those with aptitude.
In the technology industry, this translates into fewer new ideas that are critical to finding better ways to solve problems and deliver more elegant products. It also means a continuing constriction of talent which leads to increased costs and constant turnover from poaching. If you think “elite” talent only comes from “elite” universities, you will continue to overpay for an artificially restricted commodity.