Thiel Fellows

Following this post, there is a post with a video titled, College Conspiracy. The two posts are closely related. 

Want Success in Silicon Valley? Drop Out of School

By CLAIRE CAIN MILLER (excerpt of) Article from NY Times

Bloomberg NewsPeter Thiel

Parents, do you hope that your children have the chance to become like Peter Thiel, the PayPal co-founder, Facebook investor and hedge fund manager? If so, Mr. Thiel suggests that you encourage them to drop out of school. In fact, he will help by paying them to do it.

On Wednesday, the Thiel Foundation, funded by Mr. Thiel, announced the first group of Thiel Fellows, 24 people under 20 who have agreed to drop out of school in exchange for a $100,000 grant and mentorship to start a tech company.

More than 400 people applied. The winners include Laura Deming, 17, who is developing anti-aging therapies; Faheem Zaman, 18, who is building mobile payment systems for developing countries; and John Burnham, 18, who is working on extracting minerals from asteroids and comets.

The fellowship addresses two of the country’s most pressing problems, Mr. Thiel says: a bubble in higher education and a dearth of Americans developing breakthrough technologies.

Much of the technological talent these days is going into Web sites and apps. Mr. Thiel says he has no problem with those — Facebook has made him a billionaire. But “there’s a more urgent need for innovation” in other areas, he said, like biomedical technology, nanotechnology, transportation and energy.

Mr. Thiel, a contrarian investor and libertarian known for his controversial views, knows that suggesting education is not always worth it strikes at the core of many Americans’ beliefs. But that is exactly why is he doing it.

“We’re not saying that everybody should drop out of college,” he said. The fellows agree to stop getting a formal education for two years but can always go back to school. The problem, he said, is that “in our society the default assumption is that everybody has to go to college.”.....Continue the article here~

(Hopefully in the near future,  the diversity grows to include more people of color and women. Spread the word) Thiel Foundation Website