4/11/2023 0 Comments New york times economixThiel said the recession had opened parents’ and students’ eyes to the problems with the belief in higher education. As the Times reporter Catherine Rampell has written, the job market is bad for college graduates right now but even worse for nongraduates.īut Mr. List a college degree, and of course some professions require advanced degrees. But many employers would never look at a résumé that does not In Silicon Valley, following in the footsteps of Bill Gates, Mark Zuckerberg and Evan Williams by dropping out of school might make sense. In that way it seems very similar in some ways to the housing bubble and the tech At the same time you have this incredible intensity of belief that this is what people have to do. “In education, you have this clear price escalation without incredible “I believe you have a bubble whenever you have something that’s overvalued and intensely believed,” Mr. Is that “in our society the default assumption is that everybody has to go to college.” The fellows agree to stop getting a formal education for two years but can always go back to school. “We’re not saying that everybody should drop out of college,” he said. Thiel, a contrarian investor and libertarian known for his controversial views, knows that suggesting that education is not always worth it strikes at the core of many Americans’ beliefs. But “there’s a more urgent needįor innovation” in other areas, he said, like biomedical technology, nanotechnology, transportation and energy. Thiel says he has no problem with those - Facebook has made him a billionaire. Much of the technological talent these days is going into Web sites and apps. Thiel says: a bubble in higher education and a dearth of Americans developing breakthrough technologies. The fellowship addresses two of the country’s most pressing problems, Mr. In the Bits blog post “Want Success in Silicon Valley? Drop Out of School,” Claire Cain Miller reports on a fellowship awarding $100,000 each to 24 promising young people who drop out of school to pursue tech start-ups: To you, is college essential or overrated? Would you consider applying for one of the Thiel fellowships? Net income was down 29 percent, to $1.7 billion.Questions about issues in the news for students 13 and older.Ī technology entrepreneur named Peter Thiel is providing seed money to create start-up companies to 24 people under 20 who agree to drop out of school, partly because he believes that higher education is generally not worth the time and expense. At JPMorgan’s investment bank, revenue was down 11 percent, to $7.3 billion. Of America, JPMorgan Chase came through the financial crisis of 2008 mostly unscathed, despite mortgage-related losses.ĭespite the run-up in the stock market, trading volumes in the first quarter haven’t been especially robust. Several brokerage firms have raised their ratings on JPMorgan shares in recent weeks, and the stock has soared this year to $44.84 on Thursday from $33 in December. The company has benefited from improving capital marketsĪctivity as well a steady recovery in consumer credit and business lending. On a reported basis, revenue rose 6 percent, rising to $26.7 billion, from $25.2 billion.Īnalysts had been expecting JPMorgan Chase, the country’s biggest bank, to earn $1.13 a share for the quarter on revenue of $24.7 billion. $1.28 a share in the same period a year ago. Kicking off a series of earnings reports from the nation’s biggest banks in the coming days, JPMorgan Chase said Friday that it earned $1.31 a share in the first quarter of 2012, compared with JPMorgan Chase’s Earnings Beat Expectations |
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