Thursday, May 26, 2011

PayPal Co-founder Offers $100k for Students to NOT go to College


The current, and the money, is beginning to flow the other way. Peter Thiel, co-founder of PayPal, has read the tea leaves,  seen the pattern in the carpet, and felt the shifting winds of change.  Here’s the relevant headline form The Chronicle of So-Called Higher Education:

The most important data point is not the 100,000 smackeroos but the word “talented.”

It's been evident to me for awhile that entrepreneurial companies would begin to eschew college grads because the salary/performance ratio of talented high school grads is better than they'll get if they hire someone with a sheepskin. Thiel is responding to that new market reality. Eventually, the only people attending college will be the liberal arts majors as they mark time before a lifetime of asking customers: "do you want fries with that?"

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