[sakjur]

Do they work harder because they attended elite schools or did they attend elite schools because they worked harder?

It’s all multipliers: a bias existing doesn’t mean that there isn’t also a factor that relates to the quality of the education. You’re more likely to attend a top university if you have good contacts, good finances, and good test scoring already — those are also probable significant factors to whether you’ll successfully start a company. Location also matters–and at least in Europe–VCs, engineering staff, and top-tier universities are often in the same area.

None of that is dismissive of the schools’ qualities, but all those factors contribute to a bias that likely exaggerates the reader’s perception thereof.

[zeroCalories]

I don't disagree. I don't think the quality of education at Harvard is that different from other schools. But the quality of the people that get into these schools is way higher. Yes having a good upbringing makes you more likely to get into a good school, and as a result of your upbringing you're more disciplined, educated, and capable. The good have already been sorted from the bad before they've even been accepted into a a school.