The best higher education equilibrium might be where most of the smartest high school graduates don't go to college, and really if you're bright and went to good primary and secondary schools shouldn't 13 years of formal education be enough to enter most professions?
I would rather skip the first four years of my education than the last four.
http://thielfoundation.org/index.php?option=com_content&view=article&id=15&Itemid=19
Thoughts?
A lot of Thiel's beliefs are in line with those of a significant portion of the LessWrong community, so I trust his judgment more than I trust that of most.