To me the premise to this argument was always incomplete. It's true that college does not matter "to some people". You can always find individuals that will be successful whether they go to college or not. There's a reason Thiel hand picked the people that would get his money. He picked the best he could find because he knew that they had a better chance to succeed. If he really wanted to prove his point, he would have picked them at random from those that were slated to go to college anyway. To me he has not proven anything, college is still important to the great majority of people and telling people differently does not help society worse yet it makes it more difficult on those that follow his advice.