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but my *hunch* is the ivies have never recovered and pivoted hard to their comparative advantage (rent-seeking and burning legacy brand prestige until people realize its gone)
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If you have an Ivy League frat tie, it feels like you can still make way way more money going up finance, somehow making yourself business, then being a seductive SV startup CEO. OTOH, I do not have an Ivy League frat tie so....
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“Elite overproduction” from people whose only claim to elite status is legacy admissions.
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this is why there's such a scandal suddenly about people buying their kids' way into Ivy League schools, because they need to shut that down to have enough room for the out-of-state kids whose families have enough cash to pay full freight
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This was the case in the 90s and probably further back. Perfection in standard terms, SATs and GPA, participation in activities, were simply not differentiating. Because it's a supply-demand thing. 40% admitted are legacies (which itself is hilarious)...
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... and the remainder looks like what they want it to look like for non academic reasons. And they get a LOT of applications from high achieving whites across the country... Many of whom don't plan to attend, would just love to say they got in.
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