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As much as I like to believe people can teach themselves anything, if you look at places like Kaggle, there are really no self-taught people. It's just a parade of Phd holders and grad students. I'm sure there are one or two, but clearly for most people coughing up the dough for a Computer Science / Data Science degree is indeed worth it.

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I agree with your statements, but dont forget the people who value education are the same ones with degrees and the same ones who self learn. when I was amazed at how we can now take classes at schools like Havard for free on Coursera, my nephew was like 'well what do i get out of it?' *face palm

likewise with kaggle. I love participating on it when I have time, but when people who want to be data scientists but dont have a masters/phd and no experience, I tell them to participate there. They always say, I dont want to do that, what else? =|

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