He also pooh-poohs a scheme by Peter Thiel which is a privately financed personal pilot project for 20 talented young adults a year by investing in their work without requiring ownership of whatever they come up with. He criticizes this plan for only applying to 20 people even though it was never meant to scale to the populace, it has always been about giving very talented young adults who are already working on something interesting an alternative to college debt. He then as a counter example points to a system with literally millions of students as input which has produced a student in Mongolia who was accepted to MIT, the same student who is mentioned in numerous articles as the great success of this system.
And we have his credentials as having cashed in with Reddit. Reddit it cool and valuable, but it's also not profitable after all these years, which should be considered when talking about things that are expected to yield some sort of economic value and not just a cash out for a property that never manages to create positive cash flow.