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Would You Want to Live in a Cash-Free World?

When asked if they'd ditch bills for good, Canadians replied with a resounding "yes!" But for some, a cashless world is bad for business.

Imagine a world where you didn't have to go to the corner store ATM and pay an extra $2.50 just to pay someone back. Or where no matter what restaurant you stepped into, you'd be able to pay with a swipe of a card or a flash of your phone.

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Will PayPal Billionaire Peter Thiel's Team of College Dropouts Change Learning?

Meet Thiel's inaugural class of super-elite "20 Under 20" fellowship recipients.

In April, Peter Thiel, one of the co-founders of PayPal and the first major investor in Facebook, announced "20 Under 20," his experiment that will pay students from some of the nation's most elite colleges $100,000 each to drop out and start companies. Thiel's views on college degrees are pretty controversial—he believes they're unnecessary for talented, entrepreneurially-minded students. After sifting through 400 applications, Thiel announced his inaugural class of fellowship recipients and their projects on Wednesday.

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PayPal Billionaire Peter Thiel Should Stop Telling College Students to Drop Out

Thiel's program to turn dropouts into tech entrepreneurs isn't just hypocritical, it's also irresponsible.


We've survived the tech bubble and the housing bubble, but according to Peter Thiel, one of the co-founders of PayPal, we're in the grips of a brand new bubble: higher education. Thiel, who is not a dropout—he attended Stanford for both his undergraduate and law degree—is challenging the idea that you need a degree to succeed in life through a new venture, his "20 Under 20" project. Instead of hiring graduates from the nation's most elite schools, he's paying 20 of them $100,000 to drop out of college, run with their entrepreneurial spirit, and start companies.

Thiel told TechCrunch that, "A true bubble is when something is over-valued and intensely believed," noting that, "Education may be the only thing people still believe in in the United States. To question education is really dangerous. It is the absolute taboo. It’s like telling the world there’s no Santa Claus."

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