Y Combinator, Not Lambda School, Is Unbundling Education

#News(General) [ via IoTGroup ]

Headings…
Y Combinator, Not Lambda School, Is Unbundling Education
In Defense of Signaling
Tuition and Endowments
Capped Ambition
The Startup
Byrne Hobart
The Startup

Auto extracted Text……

In The Case Against Education, Bryan Caplan argues that the real value of education, for the people who get it, is signaling, not skills — memorably, he argues that a college is not so much a sculptor as an appraiser.
The relationship between income and years of education is much stronger for individuals than for countries; a college graduate is richer than a high school dropout, on average, but to a much greater degree than countries full of high school graduates are richer than countries where most people leave school earlier.
To be fair to the colleges, under this scenario they’re at least a pretty good deal — on a dollars per night of partying basis, they beat Bonnaroo, 1 OAK, and other venues that sell the opportunity to get intoxicated while surrounded by attractive young people.
He makes a good case; signaling is pretty zero-sum, and if education is funded because it provides human capital, but it actually provides signaling value, that’s a loss for society.
It’s easy to misread the signaling critique to say that schools don’t provide any value, when the real critique is that elite schools provide value inefficiently.
If a college provides a good signal, this means its admissions department can accurately judge what a young person will accomplish in their life.
If you were reinventing the Ivy League as a signaling-focused product, your stripped-down version might look like this: you invite a small cohort of talented people to move to a city for about three months, you host some social events so they get to know each other, you have them work on projects and you advise them on those, and afterwards you introduce them to a bunch of savvy rich people.
The way elite colleges work is that they charge a variable tuition, where the sticker price is designed so non-rich students feel like they got a great deal.
However, many of the best schools make money from student gifts, and from preferential access to good investments for their endowment funds

Read More..
AutoTextExtraction by Working BoT using SmartNews 1.0299999999 Build 26 Aug 2019