From TechCrunch:
Thiel is starting a new initiative that will offer grants of up to $100,000 for kids to drop out of school. Yes, you read that right. Though that’s not how Thiel puts it. Instead, he calls it “stopping out of school.”
The basic gist is that he will fund up to 20 kids under the age of 20 who apply for this grant. His hope, obviously, isn’t to ruin their lives, but instead to find the best minds thinking about big things early in life. This is where true disruption comes from, Thiel believes.
And it also solves another problem that many young people face today: crippling debt. Because going to college is so much more expensive than it was even when Thiel was in school, he notes that a lot of kids come out of school having to worry about debt rather than just focusing on doing great things. Thiel hopes to change that.
He’ll be accepting applications for this grant through the end of the year for enrollment in 2011.
The problem with age is that people often become more materialistic, less idealistic, and more conformist. The average 24 bright year old is much more intellectually conformist than the average bright 19 year old. The slightly older folks see the existing systems, they fight against them a bit, then give up. With huge debt, they have no choice but to play it safe in work and life. True independent thought is lost.
What courage Thiel is displaying, going against an established order that makes it seem as if no one can accomplish anything without a degree.
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