Yes, of course it does (as do the rest of the ivys and most elite schools):<p><a href="http://www.unz.com/runz/the-myth-of-american-meritocracy/" rel="nofollow">http://www.unz.com/runz/the-myth-of-american-meritocracy/</a><p>Somewhat humorously, if you buy unz's numbers, non-jewish whites are actually the most underrepresented group in nearly all elite universities.
Such policies never end well. A university's best chance of relevance long term is to unabashedly pursue the best and the brightest, regardless of race.<p>This holds in the valley too - merit trumps everything else. There's ample evidence of a (happy) best-in-class workforce affecting bottom lines.
The next time you read a bullshit article/research on the Harvard Business Review (hbr.org) remember that it isn't necessarily the product of unbiased scientific research. An admissions committee (including professors) that doesn't value merit and objectivity can't be trusted to publish realistic research