Monday, October 11, 2010
Wall Street Journal, Technology = Salvation
[Peter Thiel, an] early investor in Facebook and the founder of Clarium Capital [,] on the subprime crisis and why American ingenuity has hit a dead end.
Liberals, he says, blame our education system, but liberals are the last ones to fix it, just wanting to throw money at what he calls a "higher education bubble." "University administrators are the equivalent of subprime mortgage brokers," he says, "selling you a story that you should go into debt massively, that it's not a consumption decision, it's an investment decision. Actually, no, it's a bad consumption decision. Most colleges are four-year parties."