I agree with everything you've said except for the conclusion. I think Thiel's point is that it doesn't have to only apply to statistical outliers. It only applies to them right now, as the culture surrounding higher education is very ingrained in the developed world.
Also, I agree widespread adoption of going straight into the workforce could affect unemployment numbers tremendously. But for most people, the current "fix" is to have an institution babysit young adults for 4-5 years while allowing them to accumulate a mortgage's worth of debt. At least with the unemployment numbers the weakness would be more visible.
Disclaimer: I'm not advocating the abolition of college as an institution, but I've seen too many people graduate with no marketable skills (and no job prospects). I would argue that for most people, it's not worth the price of admission.
most people do not have the aptitude to benefit from a traditional college education. this is not a controversial statement if you've attended an average, fairly representative high school
Also, I agree widespread adoption of going straight into the workforce could affect unemployment numbers tremendously. But for most people, the current "fix" is to have an institution babysit young adults for 4-5 years while allowing them to accumulate a mortgage's worth of debt. At least with the unemployment numbers the weakness would be more visible.
Disclaimer: I'm not advocating the abolition of college as an institution, but I've seen too many people graduate with no marketable skills (and no job prospects). I would argue that for most people, it's not worth the price of admission.