Rather than looking at traditional 'smarts', I would look at personality factors to assess if someone of college age should drop out - their levels of entrepreneurism, emotional intelligence, communication and persuasion skills, resilience, and sheer grit and determination. These traits can be found in people from any background, and will help them go the distance.
Forgoing College to Pursue Dreams
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Re: Forgoing College to Pursue Dreams
#12I always find it ironic that Thiel, who followed one of the most risk-averse career tracks possible after high school (top undergrad + top law school + top law firm = guaranteed six-figure salary), is so whole-heartedly encouraging kids to not follow in his footsteps. I question what the risk-weighted expected return for these kids ends up being, and how that compares to more traditional career paths. Thiel himself a…
The article does cover the points in your second paragraph, but not until the very end.
Re: Forgoing College to Pursue Dreams
#13I'm so sick of the continuing Peter Thiel hypefest. I don't like college either but his 20 for 20 program is just some ridiculous bullshit.
Re: Forgoing College to Pursue Dreams
#14I always find it ironic that Thiel, who followed one of the most risk-averse career tracks possible after high school (top undergrad + top law school + top law firm = guaranteed six-figure salary), is so whole-heartedly encouraging kids to not follow in his footsteps. I question what the risk-weighted expected return for these kids ends up being, and how that compares to more traditional career paths. Thiel himself a…
It looks like most of these kids already have a top college acceptance in had before accepting Thiel's fellowship, which gives them a backup option in the very likely scenario their "dreams" don't pan out.
--The double-Irony is that you think the kid has a "fall back option" just because of his letter of acceptance. =D
Part of thiel's critique is that education is mis-priced. That the signalling is most of the value. He's also speaking from experience, having made money outside the content area of his training. So its not irrational or self centered of him to be saying: the content is not the value of a degree, per se. If you believe that, looking at other "content" to substiture or complement the "signalling" makes sense.
Re: Forgoing College to Pursue Dreams
#15I always find it ironic that Thiel, who followed one of the most risk-averse career tracks possible after high school (top undergrad + top law school + top law firm = guaranteed six-figure salary), is so whole-heartedly encouraging kids to not follow in his footsteps. I question what the risk-weighted expected return for these kids ends up being, and how that compares to more traditional career paths. Thiel himself a…
It looks like most of these kids already have a top college acceptance in had before accepting Thiel's fellowship, which gives them a backup option in the very likely scenario their "dreams" don't pan out. --The double-Irony is that you think the kid has a "fall back option" just because of his letter of acceptance. =D Part of thiel's critique is that education is mis-priced. That the signalling is most of the value.…
I mean that they have a fall back in the sense that they can always just defer their acceptance or re-enroll (if they dropped out) if their plans don't pan out. Colleges are generally pretty forgiving about things like that.
Re: Forgoing College to Pursue Dreams
#16I always find it ironic that Thiel, who followed one of the most risk-averse career tracks possible after high school (top undergrad + top law school + top law firm = guaranteed six-figure salary), is so whole-heartedly encouraging kids to not follow in his footsteps. I question what the risk-weighted expected return for these kids ends up being, and how that compares to more traditional career paths. Thiel himself a…
A lot to lose, like what? At most they're out a year or two of their time, when they're young. There's nothing to stop you from going back to college at 22.
Re: Forgoing College to Pursue Dreams
#17The last few paragraphs of the article really brought an interesting light onto the subject. Most of the people I know who left college to start a business or to work somewhere in Silicon Valley had a remarkably privileged upbringing. They never had the worries about the financial or temporal investment into an education or any experience taking risks. I'm not trying to berate people who drop out of college for these…
While there is a of truth in this statement, one notable exception is worth mentioning: steve jobs. who apparently quit school in part because he thought college was too much for his familiy to pay for.
But I think you are more right than wrong in your observation. There are a lot of soft social skills and such that you need for business that could be learned in school. May not be news to some depending on there background and natural talents, etc.
Re: Forgoing College to Pursue Dreams
#18Just because you can get into Princeton doesn't mean it's a good idea to pay to go. Full scholarship? Go Parents paying for everything? Go Otherwise, you really need to consider an in-state school, and living at home. You work your ass off to be in the top percentile of students (obviously not a global solution), finish in 3 years, and get a full fellowship for grad school to a place like Princeton. That's how we did…
I would say Princeton is one of the few schools worth paying for. It will make it much easier to enter certain careers/companies and don't forget about the alumni network that it brings along.
Re: Forgoing College to Pursue Dreams
#19I always find it ironic that Thiel, who followed one of the most risk-averse career tracks possible after high school (top undergrad + top law school + top law firm = guaranteed six-figure salary), is so whole-heartedly encouraging kids to not follow in his footsteps. I question what the risk-weighted expected return for these kids ends up being, and how that compares to more traditional career paths. Thiel himself a…
A lot to lose, like what? At most they're out a year or two of their time, when they're young. There's nothing to stop you from going back to college at 22.
Easier said than done. There's a lot more at play in their lives than "go to college again" and "don't go to college again."
Re: Forgoing College to Pursue Dreams
#20I always find it ironic that Thiel, who followed one of the most risk-averse career tracks possible after high school (top undergrad + top law school + top law firm = guaranteed six-figure salary), is so whole-heartedly encouraging kids to not follow in his footsteps. I question what the risk-weighted expected return for these kids ends up being, and how that compares to more traditional career paths. Thiel himself a…
A lot to lose, like what? At most they're out a year or two of their time, when they're young. There's nothing to stop you from going back to college at 22.
It's so much easier to say that when it isn't your life you are talking about.