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At a certain point, probably before this decade is out, that parallel universe will reach a point of sophistication and credibility where the degrees—or whatever new word is invented to mean “evidence of your skills and knowledge”—it grants are taken seriously by employers. The online learning environments will be good enough, and access to broadband Internet wide enough, that you won’t need to be a math prodigy like Eren Bali to learn, get a credential, and attract the attention of global employers. Companies like OpenStudy, Kno, Quizlet, Chegg, Inigral, and Degreed will provide all manner of supportive services—study groups, e-books, flash cards, course notes, college-focused social networking, and many other fabulous, as-yet-un-invented things. Bali isn’t just the model of the new ed tech entrepreneur—he’s the new global student, too, finally able to transcend the happenstance of where he was born.

Colleges with strong brand names and other sources of revenue (e.g., government-sponsored research or acculturating the children of the ruling class) will emerge stronger than ever. Everyone else will scramble to survive as vestigial players.