Wednesday, May 25, 2011

Pay Pal to Smart Kids: Eschew Higher Ed

Here's a cool idea: Paying smart kids NOT to got to college. Actually, all this guy wants them to do is put it off for a couple of years.
Peter Thiel, a co-founder of PayPal, will pay each of the 24 winners of his Thiel Fellowship $100,000 not to attend college for two years and to develop business ideas instead.

The fellows, all 20 years old or younger, will leave institutions including Harvard University, the Massachusetts Institute of Technology, and Stanford University, to work with a network of more than 100 Silicon Valley mentors and further develop their ideas in areas such as biotechnology, education, and energy...

Mr. Thiel ignited controversy when he told TechCrunch in April that he sees higher education as the next bubble, comparable to previously overvalued markets in technology and housing.

Both cost and demand for a college education have grown significantly in the years since Mr. Thiel was a student. He sees that rise as irrational.
UPDATE: Great minds think alike.


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