Quit college, get $100,000, and start a business.
That’s the deal that co-founder and former CEO of PayPal, Peter Thiel, is offering to 20 college students this year. These students, Thiel Fellows as they are called, are given the opportunity to pursue innovative scientific and technical projects and develop the leading-edge companies of tomorrow. His gift to them: $100,000 and entrepreneurial mentorship.
Thiel has been making this deal since 2011 and continues to stir up controversy each time he does. In making this offer, Thiel is reinforcing the idea that going to college is not the only road to success.
Yes, college graduates, on average, earn more than those who do not have a degree. But, college does not guarantee you anything. College is not an insurance policy. Let’s be honest, how many of you know a college graduate who still lives at home with mom and dad working at Starbucks?
Self-motivation and drive are much better indicators of future success. Entrepreneurship is just one of the many paths you have before you as you decide what you want to do next.
Learn more about the Thiel Fellowship program and check out some great articles about education at, http://www.thielfellowship.org/.