Well said. Peter Thiel's argument is essentially "If you are already well educated you don't have to go to college before making money/value." It certainly describes those students who learned a bachelor's degree worth of knowledge through the IP or AP programs. It doesn't apply to those kids who haven't already mastered basic math and writing. It doesn't apply to the average American kid, only to the top 1% of overachievers who can choose between Harvard and a startup.
It doesn't apply to those of thus who aren't well educated and otherwise have remunerative. full disclosure: i went to a shitty public high school in Los Angeles and learned basic math and writing at university.