The article does seem to get there eventually: > The result is an institution increasingly unable to carry out its own mission, as tuition rises to pay for mor

The article does seem to get there eventually: > The result is an institution increasingly unable to carry out its own mission, as tuition rises to pay for more administrators, and ideological drama makes it harder and harder to actually teach. And now we are back at the original question. What was the point of Yale? What was the point of going to Yale? What is the point of elite institutions? I don't think it's just the lack of a mission that's the problem though. I think that these kids have been disrupted. A sort-of-smart rich kid who went to a good school used to be valuable. They could be like a LinkedIn for a new business with their social network. They could be a StackOverflow, because smart people would want to curry favour and answer their questions. They were a Venture Capitalist for people who had no idea what that meant, let alone where you'd find one. They were a Quora with a rough idea of what management at various levels and in various areas was like. OK, they are still valuable. But they're no longer quite so important - there's plenty of half-decent substitutes.