I absolutely agree with you in regards to grades. They are completely pointless; How does someone get an 'A' when they've missed over 10% of the questions on

I absolutely agree with you in regards to grades. They are completely pointless; How does someone get an 'A' when they've missed over 10% of the questions on an exam? We should demand absolutely mastery in every subject, and thankfully we're starting to get the tools (in online courses) which allow us to do that. There is one point though which I think you're not giving enough; schools like MIT and Standford are all about connections and networking. You go to an MIT or a Stanford to have a pedigree, and it opens doors and opportunities which wouldn't be there if you hadn't gone there.