correct. >> ladies and gentlemen, i'm honored to present the chairman of the thiel foundation, peter thielhis "20 under 20" fellowship is thiel's answer in miniature to what he calls the questionable value of higher education. >> thiel: this will be a fascinating afternoon as we listen to some of these incredible visions of the future. >> safer: each year, thiel will select 20 students and pay them $100,000 apiece to work on their ideas. >> i want to make complexity our new paradigm, because only by understanding how our world actually works can we hope to make it better. >> safer: these finalists are making their pitches. >> the effectiveness is inversely proportional to the time of diagnosis. >> safer: the only condition? drop out of school. your megaphone is saying, "don't go to college." is that what you really mean? >> thiel: i'm saying that people should think hard about why they're going to college. if your life plan is to be a professor or to be a doctor or some other career where you need a specific credential, you should and probably have to go to college. if your plan is to do s

a comparative literature degree in some cases that doesn't actually get them very much and what peter thiel is saying is look if you've got some bizarre committee got a great idea and you're eighteen years old let's just get you on that path and start you building a new company instead of having to go through four years of something that may not be worth it i can just say as a college dropout that i wish i got one hundred grand for peter to have the time for my effort now i mean he's it's interesting the backlash against him because all he's doing is giving his own money that he earned to twenty people who have particularly great ideas and people are freaking out over this concept of yours somehow sliming education the process he's forcing a rethink i see nothing wrong with that yeah it's interesting i mean on one hand a lot of times college graduates will make more money and they'll make up for it by far in the long run but you know they're not having this debt that saddles them down unfortunately guys we're out of time good conversation though not well to editor in chief of reason magazin

facebook's earliest investor, peter thiel quadrupling what he plans to sell. jim brier and russian billionaire cutting his stake as well. big shareholders selling out of a deal could be a big red flag, tyler. we'll walk you through the other risks and challenges in a facebook webinar. >> i'll be there. facebook ads causing a big controversy in the auto world as gm says we're out of here. the ads aren't paying off. phil lebeau live in atlanta for us. phil. >> and, tyler, it's important to point out that general motors has caught a lot of flak over the last 24 hours about pulling out of facebook. but it's standing by its decision it's not going to run direct ads. $10 million general motors decided it's no longer believing those ads are effective in terms of pulling in customers. we regularly review our media spends. this happens as a regular course of business and not unusual for us to move our spending around various media outlets. in fact, general motors has been looking at the $4.2 billion it spends annually and where is the best place for us to spend that mo

goldman sachs, tiger global, and facebook director peter thiel.age investors going to get a bad deal on this? >> i think that's the question. i think we'll find out whether it's the insiders who are going to build up big fortune. rory meara of capstone investments and jeff cox as well. and our other guest is with us as well. what do you make of the deal at this point? and what are your longer term prospects for the company? >> we believe at the current valuation that we're talking about, $38 a share we do believe is overvalued at these levels. $5 billion at the high end. we do think it's overvalued. we do think the company can grow into a broader valuation over time. we think it's overvalued right now. we are concerned about two things. first of all, growing a lot outside of north america, but most of their revenue comes from north america and western europe. >> okay. >> more and more users are going mobile and they're having trouble monetizing mobile. >> what would be a better price for you? >> our target valuation is 75 to $85 billion. >> rory,

then the far end here, peter thiel, also probably needs no introduction. formally peter is that of clarium capital which is a hedge fund, but as i suspect most of you know, much, much more. peter earned both his ba and jd from stanford, the latter in 1992. he is an original in all respects. he was one of the highest ranked chess players in the united states although i gather -- while he was at stanford he found the stanford review at a time when there is little by way of an outlet for conservative or libertarian voices for students. after law school he clerked for judge edmondson on 11th circuit, spent a short time the credits but then cofounded paypal. the rest is well known. peter treated a place for himself. he also created a place for himself as a public intellectual and provocateur, and is also well-known for his support of such things as the institute on artificial intelligence, the institute which creates autonomous libertarian communities, and most recently the fellowship for young entrepreneurs which is for young people who may be better served not