A few of the projects seem potentially really important and untried (internet price comparison, improving recruiting, and the fund to commercialize anti-aging research.) Laura Deming, folks. Keep an eye on her.
Most of these kids seem extremely talented and likely to succeed, but not necessarily at their current projects/startups.
Not only has internet price comparison been tried but Google is predictably kicking everyone's ass at it with Google Shopping.
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.