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September 16th, 2014
08:38 PM ET

PayPal co-founder Billionaire Peter Thiel: I would not buy Alibaba

The iWatch or Apple Pay isn't a true breakthrough, Peter Thiel argues. Something like an Apple Television might be.

"You need to come up with something that is vastly better than the next best thing," he told CNN's Erin Burnett.

Thiel co-founded PayPal and was an early investor in Facebook (FB, Tech30), among other Silicon Valley startups. Today he's full of criticism for everything from Alibaba to Harvard University.

http://www.cnn.com/video/api/embed.html#/video/bestoftv/2014/09/17/erin-intv-peter-thiel-on-college-education.cnn

The 46-year-old thinks the U.S. is looking at years of stagnation if it doesn't start innovating more. That's his main message in his new book, "Zero to One: Notes on Startups or How to Build the Future."

It's more than words for the wealthy investor. He's gone as far as founding the Thiel fellowship program, where he offers to pay bright college students to drop out of school and start companies.

"A diploma is a dunce hat in disguise," he said. That's especially the case if you don't graduate from a top school, he said.

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