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The Boston Globe

Business

At MIT event, group entices students to ditch school

Under the noses of school officials, a group started by PayPal cofounder Peter Thiel used an event last weekend at the Massachusetts Institute of Technology to try to persuade budding entrepreneurs that college is a waste of money and they should drop out and start businesses instead.

A billionaire, the high-profile Thiel has used part of his fortune to target the higher education establishment as a bloated sacred cow; one line of attack is to offer bright young achievers $100,000 to forgo college and work on innovative ideas under the tutelage of his organization in San Francisco.

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