20 Under 20: Transforming Tomorrow. The CNBC TV reality show by Peter Theil requires youth participants to leave college or university ((Image via Maria Bartiromo )
Owner of “a piece” of Facebook and billionaire Peter Thiel is launching beginning next week a reality show featuring 20 young entrepreneurs under the age of 20 years. Theil is a German-born American entrepreneur, venture capitalist, and hedge fund manager aims at finding young IT-entrepreneurs through this reality show, reports Mashable.
The reality TV show “20 Under 20: Transforming Tomorrow” will be selecting 20 projects under development in the Silicon Valley and give each of them 100 thousand dollars to implement the ideas. The program will consist of two issues, which will be released on the American CNBC channel on July 11 and 12.
Venture capitalist Peter Thiel is known for funds invested in Facebook at an early stage of the social network phenomenon. Entrepreneur in 2004 invested of 500 thousand dollars in the project in exchange for 10% share in the company and a position on the board of directors. In 1998, Thiel, along with businessman Max Levchin launched Confinity, which after merger with X.com became the most popular e-payment service known as PayPal. In 2002, the company was bought by online auction house eBay for $ 1.5 billion.
In addition to Thiel, the jury of the reality show “20 Under 20: Transforming Tomorrow” will include other well-known entrepreneurs and investors like Sean Parker, president of Facebook, and co-founder of music service Napster, and Elon Musk, co-founder of X.com.
Interestingly, in order to get the funding, the participants must leave university or college. The show is based on the fact that Thiel is known for his public criticism of higher education in the United States, as in his opinion, the value of this institution is much exaggerated, and soon the “education bubble” would burst.
Besides , Thiel argues that the high cost of education in the United States prevents graduates from doing business, because after graduation they have to pay huge debts.
20 Under 20: Transforming Tomorrow Video
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