Nov 02, 2010 $100,000 to Drop Out of College? Sure, Why Not.
Billionaire Peter Thiel recently announced at the TechCrunch Disrupt conference in San Francisco that he will award 20 people less than 20 years old cash grants of $100,000 to drop out of school.The Thiel Foundation was created to help innovate the next generation of tech visionaries. He believes there is more value for the entrepreneur to launch a tech or scientific idea immediately than to wait the full four years of college or eight years of grad school. (link)
“Because education seeks to impart past knowledge, when you are trying to create a technological breakthrough, you have to create new knowledge, and there is no way to teach that. This fellowship will encourage the most brilliant and promising young people not to wait on their ideas” – Peter Thiel
I love the man’s thinking. Times have changed, and college should no longer be a major priority for the modern day entrepreneur.