This is looking more and more like an extinction event for academia.
Elite institutions can charge whatever they want for their brand name and selectivity, and for the environment of other equally motivated high potential students.
Other schools combine a school with a resort/cruise ship experience. Insofar as the school is no better than a bunch of videos, and the resort is mostly shut down, so long as employers don't care, it will be hard to justify spending 10x on a residential experience.
With live teaching going the way of life musicians 100 years ago, we can expect similar effects- fewer better teachers, and better access to them.
Elite institutions can charge whatever they want for their brand name and selectivity, and for the environment of other equally motivated high potential students.
Other schools combine a school with a resort/cruise ship experience. Insofar as the school is no better than a bunch of videos, and the resort is mostly shut down, so long as employers don't care, it will be hard to justify spending 10x on a residential experience.
With live teaching going the way of life musicians 100 years ago, we can expect similar effects- fewer better teachers, and better access to them.