STRATEGIC OVERVIEW
THE DIAMOND WATER PARADOX; THE PRINCIPLE OF DIMINISHING RETURNS Diamonds are expensive. Water is cheap. Water is necessary for life. Diamonds are necessary for nothing. One reason that diamonds cost more is because they are rarer than water. Even though water is essential, it’s common. It falls from the sky. Diamonds do not. The same principle applies to college admissions. A college has accepted 999 people who are good at math and science, have high SAT scores, and high grades. Now there is one spot left. What will make a more interesting intellectual atmosphere: one more math nerd, or one kid who makes origami chess boards? Of course, the college still needs people who are actually awesome at academics. If all 1000 students were making origami chess boards, but not good at math, you wouldn’t have a college; you’d have a kindergarten. The most effective strategy involves two parts. First, have excellent grades and SAT scores. We’ll talk about how to make that happen in the Academics chapter. Second, have one or two things that make you radically stand out. To do that, you need to understand the concept of diminishing returns.
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