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Apr

2011

Peter Thiel: We’re in a Bubble and It’s Not the Internet. It’s Higher Education.

Peter Thiel is a Pay Pal co-founder thinks we're in a bubble, again, and this time the bubble is education. He says “A true bubble is when something is overvalued and intensely believed”, noting that you can't question the value of education today.

And if you think about it, our description of education sounds an awful lot like our description of housing a few years ago (and internet stocks a few years before that). Everyone needs to own property (bachelor's degree). The value of property (education) never goes down. Borrow the money for property (education) and buy now -- it's an investment.

Perhaps are problem is that we confuse education - life long learning - with degrees. While ongoing learning/relearning has never been more critical to individual success, the value proposition of a 4-year degree in the first 4 years after high school becomes ever more questionable.