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The brand is only an advantage in public perception (which usually means nothing in terms of company success at the startup stage), and maybe some level of increased respect from investors (which, as you have pointed out, really doesn't mean much, since they act as sheep. A great company is the way to get investors).

Completely agree that the major value of great schools is better schools attract smarter people, who often make better founders.

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Agree with this. Brand is a big advantage in public perception and it's easier for top-school grads to get coveted meetings/intros since they are part of the "family." But at the end of the day, all that matters is the quality of the work. And there are tons of people who never attended MIT/Stanford/Harvard/etc. that are extremely successful at what they do and have built.

Like you said, great schools attract smarter people (not all of them!) and that makes for a more competitive environment, which in turn churns out more driven/analytical kids.

I know a TON of idiots who went to Stanford and Berkeley. And I know a dozen or so extremely successful entrepreneurs who never went to college.

You know a ton of idiots who went to Stanford and Cal (and aren't including Cal athletes, had to, UCLA grad)?

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