Dont Rely on Credibility Stamps

What we're seeing is the transition of power from institutions to individuals, but it's going to be messy. It's going to take a couple of generations, or at least a generation. And in the meantime, the institutions are fighting back.

We’re caught in this Schelling point, this coordination point, for the institutions: How do I know if I should hire you? Will you have a diploma from Harvard? I know it’s not as good as it used to be. I know a Harvard humanities diploma’s probably nonsense at this point, but I don’t have any other credibility metric to filter you, and I need to do it in an efficient way.