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There’s an education bubble, which is, like the others, psychosocial. There’s a wide public buy-in that leads to a product being overvalued because it’s linked to future expectations that are unrealistic. Education is similar to the tech bubble of the late 1990s, which assumed crazy growth in businesses that didn’t pan out. The education bubble is predicated on the idea that the education provided is incredibly valuable. In many cases that’s just not true. Here and elsewhere people have avoided facing the fact of stagnation by telling themselves stories about familiar things leading to progress. One fake vector of progress is credentialing—first the undergraduate degree, then more advanced degrees. Like the others, it’s an avoidance mechanism.

i don’t always agree with Peter but he’s spot on about education

A Conversation with Peter Thiel - The American Interest Magazine (via pegobry)

Here’s some background on Thiel’s program: Peter Thiel Gives Whiz Kids $100K To Quit College, Start Businesses

(via fred-wilson)

In preparation for Facebook’s initial public stock offering, which could be filed this afternoon, Fast Company is profiling Facebook’s key players.

They were doing just fine before, but Facebook’s biggest minority owners are about to be catapulted into a far more elite bracket. As we ponder what they’ll do with with new millions (or more billions, for Peter Thiel), here’s a look at what got them where they are today.

The Facebook IPO Players Club: Peter Thiel

In preparation for Facebook’s initial public stock offering, which could be filed this afternoon, Fast Company is profiling Facebook’s key players.

They were doing just fine before, but Facebook’s biggest minority owners are about to be catapulted into a far more elite bracket. As we ponder what they’ll do with with new millions (or more billions, for Peter Thiel), here’s a look at what got them where they are today.

The Facebook IPO Players Club: Peter Thiel