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Well, I read every word Schmidt, most interesting. I have to admit that I was on the lookout for, not non-truths, but instances where this simply just wouldn't work. I thought about things like testings, assignments, gradings, and other related issues that the professor (or the school, or whoever would assign grades) has no idea who it is on the other end of the test result or assignment that they have received. Nor would they know that it was the same person(s) each and every time, so how could they ultimately assign a grade number or certificate to any one individual without confirmation that this one individual is the one and only person that they were communicating with during the presentation of this one course?
As mentioned in the article, this does not include such things as teaching neurosurgery, but what about ANY science or math course. There would be no confirmation of who it was that answered the questions to any exam, nor any actual performing of any laboratory experiments. Lab work was how one actually SAW the results of what one learned in a chemistry lecture, and actually doing this yourself, gives one a fantastic learning advantage over JUST hearing about it.
Another thing that struck me as very important. Just think about the huge number of individuals that will now be unemployed. Only one professor will be necessary for each course, and that individual's lectures can be recorded and re-played forever, ultimately leading to ZERO professors.
Many other thoughts came to mind, but I will reserve those for later, after others have commented.