The argument for diversity as a good investment:

1. With high-income whites some dumb blokes may sneak in due to privilege and winging it based on family connections, etc. This might be happening at the expense of spunky smart low income whites or blacks who worked harder and were smarter to overcome their disadvantage to get to a point where they’re in the pool of those being considered for admission into Stanford.

2. Diversity hires bring fresh perspectives and help break group-think. In my experience, all-white, all-Indian, all-Asian, etc. teams were always inferior in terms of the experience of working there to diverse teams.