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Peter Thiel doesn't seem to think dropping out is such a bad idea. He set up The Thiel Fellowship to give 20 students Under 20 $100,000 to get their business ideas off the ground and quit school.

http://venturebeat.com/2011/05/25/peter-thiel-pays-kids-100k...

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That's a common misconception about the Thiel foundation.

Their main point is that they think that going into a multi-year debt in order to get an education is a losing proposition for many people and that because of that you might be better of dropping out.

The 20 under 20 program is for exceptional people, see #5 in the linked article.

No doubt Peter Thiel means well. Thiel Foundation is a non-profit organization. Today it announced Breakout Labs which aims to fund very nascent research proposals — opportunities that are too early stage or radical to attract dollars from VCs or government grants.

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