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Peter Thiel: Virtual Reality 'Incredibly Important'

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    Paypal founder and legendary venture capitalist Peter Thiel in discussion with Sarah Lacy and Laura Sydell. (Published Tuesday, Oct. 14, 2014)

    Peter Thiel is a legendary figure in Silicon Valley, from his founding of PayPal in 1998 to his most recent life as a venture capitalist, and he still has time to sit on the board of Facebook. Recently he sat down with Press:Here to discuss several things including Facebook's attraction to virtual reality company Oculus VR.

    "There's a judgment that virtual reality is this incredibly important new platform that's just starting to happen and Oculus is the company with by far the most advanced technology in this area," he told Press: Here.

    Facebook paid $2 billion for the fledgling company last year -- a lot of money for a startup that hadn't produced a commercially viable product. "I think there's a tremendous excitement about the technology," he said. "It's a more speculative deal than with WhatsApp."

    Thiel also defended his views against young people going to college. "I've always said that there's no one-size-fits-all," he told NPR's Laura Sydell. "I think people should really think hard about what makes sense for themselves."

    Thiel said he doesn't think everyone should be an entrepreneur, either, but many believe a college education is necessary. "(There's the saying), 'Go to Yale, or go to jail,'" he said. "I think there should be a wider range of options for young people in this country."