PayPal cofounder Peter Thiel knows a thing or two about finding the next big thing.
Thiel was the first investor in Facebook and predicted the dotcom crash and the housing bubble. Now he believes the next big thing to burst is higher education, and he's willing to put his money on it.
"Learning is good. Credentialing and debt is very bad," he said. "College gives people learning and also takes away future opportunities by loading the next generation down with debt."
The 43-year-old with a net worth of $1.5 billion recently started a $2 million fund to get college students younger than 20 to drop out of school and start a business with $100,000 each.
"We ended up picking 24 people to try to get them to work on very specific projects that would push the frontiers of science and tech in areas ranging from biomedicine to computers to robotics," Thiel told ABC News.
Even though Thiel has a law degree from Stanford, he's still questioning the value of a college education. New York Magazine recently rated the worthlessness of a college degree as "one of the year's most fashionable ideas."