I was having exactly this conversation with +Philippe Beaudoin today in downtown Montreal (right by Google's office):

"Say I’m Google, and I need to hire an engineer. My job ad requirement says “BS in Computer Science or equivalent.” I get two applicants. The first has a BS in Computer Science. The second has certificates of successful completion for open courses in data structures and algorithms, artificial intelligence, and machine learning from Stanford and MITx. Do you think I’ll seriously consider candidate two? You bet I will. And that, ladies and gentlemen, is the end of the tyranny of the degree. When big name employers accept another credential in place of a Bachelors, the jig is up for higher ed."
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