Social Media and Democracy Targeting the Youth Essay

967 WordsAug 11, 20154 Pages
What happened to teenagers paid to drop out of university? news.com.au BY:JAMES LAW FROM:NEWS.COM.AU FEBRUARY 12, 201512:45PM HOW’S this for a proposition? A mega-rich American entrepreneur will give you $100,000 to drop out of university and pursue your dreams. Sound too good to be true? Well, the co-founder of online payment system PayPal, Peter Thiel, has offered that very deal for the past five years. In 2010, sensing a crippling stagnation in the US economy, he set up the Thiel Fellowship with the aim of giving youth a path to a successful career that sidestepped the need for a four-year university degree. Mr Thiel, who was also one of the first investors in Facebook, said that university courses were stifling the potential of young entrepreneurs, while loading them up with a crippling amount of debt. His foundation aimed to pay 20 teenagers a year to ditch their college course and pursue their own business idea. Those selected are given invaluable connections and are guided by thinkers, investors, scientists, and businesspeople. Mr Thiel’s generous offer sparked a national conversation in the US: Is college a waste of time and money? PayPal co-founders Peter Thiel and Elon Musk back in 2000. Source: AP Mr Thiel argues that university degrees can often be a poor investment for young people because they are too expensive, encourage conformity and fail to teach the entrepreneurial skills the business world requires. He says that people feel a societal pressure to attend university if they want a successful career, but he is keen to free bright thinkers from this convention. Speaking on a Reddit “Ask Me Anything” session, Mr Thiel said his foundation had been a success on because it had started an important debate about the “education bubble”. “Student debt is over $1 trillion in this country, and much of that money has gone to pay for lies that people tell

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