On average, people with degrees are way better than people without degrees. The most competent people I have met are usually out of the best schools. Of course

On average, people with degrees are way better than people without degrees. The most competent people I have met are usually out of the best schools. Of course there are exceptions, and many people like to point them out and John Carmack is one of them. But really, someone who passed tests, spent a few years with a bunch of smart people, and took lessons, all that relevant to the work to be done has a high chance of being better at it than someone who did not do that. There are some really smart people who are not fit for school, it it not uncommon. But what is a very common is really dumb people that are not fit for school. Another common trope with successful college drop out is that they are usually entrepreneurs, certainly because as drop outs, they are better off doing that since it is harder for them to get hired. And then, you get into survivor bias. You only hear about the successful ones. So, companies hire people with degrees, because on average, people with degrees are better. Easier for them than having to go through thousands of inadequate candidates in order to find the exception. They may miss out, but for most positions, it is not that big a deal for companies. Degrees are a pretty good proxy for skill, not perfect, but I can't think of a better one right now for normal people. Of course, it doesn't apply for John Carmack. But when companies post mid-level job offerings, no John Carmack will answer the call.