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It depends on your risk aversion level and your goals.

Do you want a business you can run yourself? Maximizing revenue? A "safe bet"? Passive or active investment?

https://en.wikipedia.org/wiki/Risk%E2%80%93return_spectrum

http://personalfinance.duke.edu/prepare-your-future/savings-...

It also depends on your location / country, 100K gives you a lot more runway in my country than in the U.S.

Since you're a "college grad" on HN I guess a software-based startup is your goal.

Personally, I'd bet on the Oculus Rift, the guys I knew that struck it rich rode a wave of innovations / new hardware (for example the iPad), I believe the Oculus will open a lot of new avenues (virtual shopping, virtual sightseeing, virtual training, data visualization, virtual everything :) ). 100K might not get you very far in the U.S. however.

Non-software, there are plenty of franchises that give an interesting return on investment.

http://www.entrepreneur.com/article/206466




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