It's been a month since I linked to a Viva Frei "Sidebar" video, more because there's been too much to choose from than than too little! This one is a two-hour long interview with Blake Masters. As with most of their Sidebar guests, I'd never heard of him, but if he wins in his attempt to become a U. S. senator from Arizona, I may learn more about him. Or if one of our grandchildren wins a Thiel Fellowship....
Blake Masters is president of the Thiel Foundation and the Fellowhip is their flagship program. He talks about it briefly during the interview, from about 32:32 to 41:56. The following video should start close to that point; you'll have to stop it yourself as a quick search did not show me an easy way to accomplish that automatically. The rest of the interview is also interesting, but who has two hours to listen to it?
Basically, the foundation believes that too many people are going to college, and funds efforts to do something productive without it. As Masters puts it, "We pay young people to drop out of college." About 10% of the fellowship recipients eventually go back to school, mostly for engineering degrees or other practical majors. MIT has even been known to hold students' places open for them.
Masters has some other good suggestions for taming the massive quagmire that higher education has become. One of them has long been a favorite of my husband's: find a way to make colleges have "skin in the game" of student loans. Right now they have every incentive to push students toward massive, unmanageable debt, and no incentive not to. (Professor friends, please don't stop the video in disgust when Viva suggests that college professors are the ones benefitting from the out-of-control costs—Masters immediately corrects him on that point.)
Masters has several other interesting things to say—the interview covers a lot—but nothing as easy to pull out separately as the above. If you have two hours you can spare to listen—there's no need to watch—go for it. Warning: the language is sometimes not what I would consider acceptable, though if I remember right the section about college is okay.