![]() ![]() Thiel's theory also happens to come at a poignant time. ![]() "If all the people had finished their college education and waited till 2006, it would have been too late." That was the right time to start that company," he said. While some may scoff at his idea - after all, Thiel does have a law degree from Stanford - he said that pushing forward with your dreams at the right time can make all the difference. Peter Thiel Says Higher Education Will Be the Next Bubble to Burst His competitiveness has carried over into what he calls breakthrough philanthropy, although some have described it as bankrolling eccentric ideas Thiel thinks can save the world. Thiel was a math phenomenon as a child and became a chess champion at age 18 - in the top 2 percent of rated players in the world. Going on gut instinct is what has made the Thiel formula for entrepreneurship such a success, but it also doesn't hurt to be a genius. "I basically told them I would invest after meeting with them for an hour or so," Thiel said. His $500,000 investment in the social-networking giant is now worth about $2 billion.īeing Facebook's first Silicon Valley investor earned Thiel the full Hollywood treatment - complete with a portrayal in the Academy-award winning film about the company, "The Social Network." Thiel said he spent time studying all of the social networking businesses for a few years before sitting down with Mark Zuckerberg and his team. EBay bought PayPal in 2002 for $1.5 billion, putting around $55 million in Thiel's pocket, which he used to invest in promising media start-ups, most famously Facebook. That combination turned into a billion-dollar empire. ![]()
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