3 ms·

> So any attempt to mitigate that trend can only be a good thing Yeah, that is something that remains to be seen. This is an intervention in the lives of thes

> So any attempt to mitigate that trend can only be a good thing Yeah, that is something that remains to be seen. This is an intervention in the lives of these students. Whether it's a good or a bad thing, for them or for society really is an open question. Amongst the entrepreneurial community there is a lot of discussion of trying something interesting, and failing fast to learn from it. The real question is, does giving a 17 year old 100k$ help with that? Do they need 100k$ to do something interesting? Are they at a point in their life where 100k$ the responsible amount of money to give them to experiment with? Where do they go from there? (these are not rhetorical questions, and I am not entirely convinced the answer is no) There are also broader societal questions. There has been an impetus in the US at least that everyone should get a university degree, come hell and/or high water. That's a model that in its current incarnation is really screwing over a number of people. But I don't see that Theil's program is a solution either. He's picking people he thinks will succeed, just as much as universities are pre-selecting folks who get good marks in classes (as opposed to picking people who will be improved/edified by going through university).

spartango 13y ago
Definitely interesting questions. The perspective I would add with respect to the money itself (relative to the <20yr old stage of life) is: 100K/2 years is a $50K/year salary. It's not poor, but not wealthy either. Paid out monthly, it's serves to cover my living expenses and some other costs (travel, equipment), but not too much more. No hiring, no vacation homes. It prevents starvation, which otherwise blocks progress. The interesting thing about that money is that in preventing starvation, it changes slightly how I approach my project. Because I know I won't starve for the next year, I can be a bit more exploratory with my work, and better understand the problems I'm solving. I can try a few more things without external pressure to make tangible progress. I can even delay fundraising for a company where I'd otherwise be in "fundraise or die"-mode. I'm not entirely sure how these benefits generalize or apply to all projects, but I'll say that in pursuing a challenging project in a medical space, they help quite a bit.
trsohmers 13y ago
As one of this years new fellows (Who happens to be 17), I would say $100 is not something that alone is going to help me do something interesting, but is going to help a lot. A lot of people that do not know the fellows and other finalists don't realize that we have gained a lot of knowledge and experience in our fields prior to applying for the fellowship. I've had three years experience in hardware prototyping and development at MIT, and have been hacking and tinkering for a much longer time. The $100k is there to allow you to follow your dreams... both as a safety net and a way to cover personal expenses. A lot of us hope to or are in the process of receiving Angel, VC, or some other form of funding to better cover our projects. As for whether it is a responsible thing to do, a large part of what the fellowship is is a "life accelerator", as the money is virtually "no strings attached" (Well, there are quarterly "check in" review meetings, with review forms.) There isn't a temptation to spend all the money at once as it is given in monthly payments (Though you can ask for a larger sum as long as you give a good reason.) While I suppose you aren't able to trust me due to my bias, I would say that myself and a majority of the other fellows would be "responsible" with the money we receive just on the fact that we want to succeed. I take great pride in my work, and want to fulfill the cliche of "changing the world", and I will continue trying. I think my sense of responsibility developed just like anyone else (even if the average person typically only becomes what society considers 'responsible' during/after college)... if you want to achieve something, whether it be to launch a product and start a company, get a job, buy a house, or have a family, you find a way to do it and try as hard as you can to do it. I hope that the other fellows and I are able to show that young people are able to do these things, and these "life lessons" can be learned at a much earlier age than most people think, and that we can truly change the world...with or without a piece of paper telling us what we know.
- aswanson 13y ago
  with or without a piece of paper... Amen. I knew through my educational life, from early on, that I was capable of more than the industrial-era training and box that the current system in the U.S. puts us through. Glad to see the open shots of the rebellion finally coming to be and wishing you the best.

spartango 13y ago

Definitely interesting questions. The perspective I would add with respect to the money itself (relative to the <20yr old stage of life) is: 100K/2 years is a $50K/year salary. It's not poor, but not wealthy either. Paid out monthly, it's serves to cover my living expenses and some other costs (travel, equipment), but not too much more. No hiring, no vacation homes. It prevents starvation, which otherwise blocks progress. The interesting thing about that money is that in preventing starvation, it changes slightly how I approach my project. Because I know I won't starve for the next year, I can be a bit more exploratory with my work, and better understand the problems I'm solving. I can try a few more things without external pressure to make tangible progress. I can even delay fundraising for a company where I'd otherwise be in "fundraise or die"-mode. I'm not entirely sure how these benefits generalize or apply to all projects, but I'll say that in pursuing a challenging project in a medical space, they help quite a bit.

trsohmers 13y ago

As one of this years new fellows (Who happens to be 17), I would say $100 is not something that alone is going to help me do something interesting, but is going to help a lot. A lot of people that do not know the fellows and other finalists don't realize that we have gained a lot of knowledge and experience in our fields prior to applying for the fellowship. I've had three years experience in hardware prototyping and development at MIT, and have been hacking and tinkering for a much longer time. The $100k is there to allow you to follow your dreams... both as a safety net and a way to cover personal expenses. A lot of us hope to or are in the process of receiving Angel, VC, or some other form of funding to better cover our projects. As for whether it is a responsible thing to do, a large part of what the fellowship is is a "life accelerator", as the money is virtually "no strings attached" (Well, there are quarterly "check in" review meetings, with review forms.) There isn't a temptation to spend all the money at once as it is given in monthly payments (Though you can ask for a larger sum as long as you give a good reason.) While I suppose you aren't able to trust me due to my bias, I would say that myself and a majority of the other fellows would be "responsible" with the money we receive just on the fact that we want to succeed. I take great pride in my work, and want to fulfill the cliche of "changing the world", and I will continue trying. I think my sense of responsibility developed just like anyone else (even if the average person typically only becomes what society considers 'responsible' during/after college)... if you want to achieve something, whether it be to launch a product and start a company, get a job, buy a house, or have a family, you find a way to do it and try as hard as you can to do it. I hope that the other fellows and I are able to show that young people are able to do these things, and these "life lessons" can be learned at a much earlier age than most people think, and that we can truly change the world...with or without a piece of paper telling us what we know.

aswanson 13y ago
with or without a piece of paper... Amen. I knew through my educational life, from early on, that I was capable of more than the industrial-era training and box that the current system in the U.S. puts us through. Glad to see the open shots of the rebellion finally coming to be and wishing you the best.