A mind is a precious thing to waste, wrote Bill Gross, co-founder of the Pacific Investment Management Company, "so why are millions of America's students wasting theirs by going to college?[1] In 2010, co-founder of PayPal, Peter Thiel, announced that he would pay $100,000 each to 20 young people as an incentive for them to drop out of college and start a tech-based business.