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.
- Peter Thiel got headlines last year with his fellowship to skip school – http://newsfeed.time.com/2011/05/31/fellowship-pays-students-100000-to-not-attend-college/
- He seems excellent at staying in the news constantly. From just yesterday he got press with – http://techland.time.com/2012/08/16/billionaire-peter-thiels-latest-investment-3d-printed-meat/
- Having a foundation backing and providing a clear sense of community and giving – http://thielfoundation.org/index.php?option=com_content&view=article&id=5&Itemid=10
- The fellowship website – http://www.thielfellowship.org/
- Here is a write up of his comments at this weeks Fortune’ Brainstorm conference over in Aspen – http://www.businessinsider.com/peter-thiel-eric-schmidt-fortune-brainstorm-2012-7
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.
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|
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.