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wedrifid comments on Overcoming the negative signal of not attending college. - Less Wrong
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Efficiency. If a comparable screening procedure can be performed in one month then that is years of time saved.
Except there's a difference between dedicating your life to something for a month (Which you can often do without burning out) and doing so for years at a time.
The college I went to essentially had 40 hour work weeks and no summer vacation. I think that accomplished the "demonstrate work ethic" goal just fine. Plus I was actually learning things the whole time.