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’20 Under 20′ – Peter Thiel’s paradigm shift?

This week on CNBC was a 2 part series on Peter Thiel’s business accelerator 20 under 20. Watching this lead me last year into a variety of paths in looking at business accelerator and trying to start one focused on sustainability in Colorado called Best of The Best (BOTB) concept. It has not been created yet, but will someday.  Anyhow, there is one more showing on Sunday night (I think 7pm and 8pm MDT) you might want to set your DVR for it. It might be worth recording / transferring to tape or DVD for use in helping others understand some of the ideas  (obviously NBC’s production values are going to be higher then we could create) when the time is appropriate. Peter’s model is one of a foundation that is well funded, in contrast to BOTB. They are not taking any equity or IP rights, but I think there are some models for how to run a competition, and examples of what to expect.

In tripping around looking for this background I found this interesting lecture of his:

This is a class by Peter Theil – who is changing thoughts on education and entrepreneurship: http://blakemasters.tumblr.com/post/25149261055/peter-thiels-cs183-startup-class-19-notes-essay

I have not had a chance to look at other class notes of his lectures (yet) but here they are: http://blakemasters.tumblr.com/peter-thiels-cs183-startup

So what are your thoughts on ‘skipping college’ to go straight into bringing your passion to life?  What are your thoughts on our education system?

I got wound up and wanted to help illustrate the slight change in education costs in asking the question to frame it for conversation.

Education Tuition graph shows how costs have increased 11 times the cost of 1980 compared with 2.5x increase in CPI or consumer price index.

The housing bubble looks like a statistical abnormality compared to the education bubble.

Here is a graph showing Peter’s point of there is an education bubble:

Or you can look at Bloomberg’s version which shows it relative to the ‘out of control’  health care cost increases of the recent past, and housing price increases that many on both sides of the aisle feel will kill this country.  – http://www.bloomberg.com/news/2012-08-15/cost-of-college-degree-in-u-s-soars-12-fold-chart-of-the-day.html

If you want to see the individual data points and see if the problem is 2 year colleges (or community colleges) or 4 year colleges or combined, the data is listed here from the department of education. Here is a chart mapping out college costs over the last 30 years – http://nces.ed.gov/fastfacts/display.asp?id=76


SOURCE
:U.S. Department of Education, National Center for Education Statistics. (2011). Digest of Education Statistics, 2010 (NCES 2011-015),Chapter 3 .

 

Total tuition, room and board rates charged for full-time undergraduate students in degree-granting institutions, by type and control of institution: Selected years, 1980–81 to 2009–10
Year and control of institution Constant 2008–09 dollars1 Current dollars
All institutions 4-year institutions 2-year institutions All institutions 4-year institutions 2-year institutions
All institutions
1980–81 $7,685 $8,672 $5,526 $3,101 $3,499 $2,230
1990–91 10,518 12,185 6,300 6,562 7,602 3,930
2000–01 13,263 15,843 6,693 10,818 12,922 5,460
2001–02 13,709 16,430 6,888 11,380 13,639 5,718
2002–03 14,161 17,020 7,370 12,014 14,439 6,252
2003–04 14,942 17,855 7,734 12,953 15,505 6,705
2004–05 15,444 18,487 7,935 13,792 16,509 7,086
2005–06 15,780 18,820 7,800 14,629 17,447 7,231
2006–07 16,281 19,423 7,850 15,483 18,471 7,466
2007–08 16,385 19,592 7,744 16,159 19,323 7,637
2008–09 17,012 20,385 8,238 17,012 20,385 8,238
2009–10 17,464 20,986 8,451 17,633 21,189 8,533
Public institutions
1980–81 $5,881 $6,320 $5,023 $2,373 $2,550 $2,027
1990–91 7,625 8,403 5,558 4,757 5,243 3,467
2000–01 9,300 10,609 5,933 7,586 8,653 4,839
2001–02 9,633 11,078 6,189 8,022 9,196 5,137
2002–03 10,021 11,537 6,603 8,502 9,787 5,601
2003–04 10,666 12,312 6,935 9,247 10,674 6,012
2004–05 11,046 12,795 7,139 9,864 11,426 6,375
2005–06 11,277 13,062 7,003 10,454 12,108 6,492
2006–07 11,618 13,457 7,166 11,049 12,797 6,815
2007–08 11,735 13,616 7,073 11,573 13,429 6,975
2008–09 12,256 14,262 7,568 12,256 14,262 7,568
2009–10 12,681 14,870 7,629 12,804 15,014 7,703
Private institutions
1980–81 $13,555 $13,861 $10,663 $5,470 $5,594 $4,303
1990–91 20,693 21,218 14,911 12,910 13,237 9,302
2000–01 26,197 26,795 18,130 21,368 21,856 14,788
2001–02 27,000 27,581 19,064 22,413 22,896 15,825
2002–03 27,512 28,039 20,926 23,340 23,787 17,753
2003–04 28,404 28,918 22,560 24,624 25,069 19,558
2004–05 28,903 29,403 22,500 25,810 26,257 20,093
2005–06 29,006 29,467 22,836 26,889 27,317 21,170
2006–07 29,905 30,409 21,329 28,439 28,919 20,284
2007–08 30,680 31,207 21,988 30,258 30,778 21,685
2008–09 31,532 32,090 22,726 31,532 32,090 22,726
2009–10 31,876 32,475 24,248 32,184 32,790 24,483

1Constant dollars based on the Consumer Price Index, prepared by the Bureau of Labor Statistics, U.S. Department of Labor, adjusted to a school-year basis.

NOTE: Data are for the entire academic year and are average total charges for full-time attendance. Room and board were based on full-time students. Data through 1995-96 are for institutions of higher education, while later data are for degree-granting institutions. Degree-granting institutions grant associate’s or higher degrees and participate in Title IV federal financial aid programs. The degree-granting classification is very similar to the earlier higher education classification, but it includes more 2-year colleges and excludes a few higher education institutions that did not grant degrees.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2011). Digest of Education Statistics, 2010 (NCES 2011-015),Table 345.

August 15, 2012 Posted by | Uncategorized | , , | Leave a comment