As co-founder of the 1517 Fund, Michael Gibson has positioned himself as a proponent of innovative approaches to education and entrepreneurship. The 1517 Fund is known for supporting startups led by young entrepreneurs, often encouraging them to pursue their ventures outside of traditional educational pathways.
His background includes a deep interest in philosophy and education, which has significantly influenced his work and perspective on the current state of higher education. Gibson's approach often challenges conventional norms, advocating for alternative routes to success that don't necessarily rely on traditional college degrees. This perspective is evident in his work with the 1517 Fund, which is named after the start of the Protestant Reformation, symbolizing a break from established authority—mirroring the fund's mission to support unconventional talent and ideas.
Prior to starting 1517, Gibson worked for Peter Theil’s Founders Fund where he financed amongst others Vitalik Buterin who started Ethereum.
"Paper Belt on Fire" by Michael Gibson takes the reader on an inspiring journey through the world of educational innovation and venture capitalism. The book tells the story of two unconventional figures—a charter school principal and a philosopher—who come together with a shared vision to challenge the entrenched norms of higher education. With no prior experience in the complex world of finance, they set out to create a venture capital fund specifically designed to support the most brilliant minds of the new generation, aiming to foster breakthroughs and innovations that traditional academic paths might stifle.
Gibson provides a detailed account of their struggles and triumphs, offering insights into the bureaucratic and cultural obstacles that innovators face when challenging the status quo. The narrative is interwoven with personal anecdotes, interviews, and analyses that highlight the importance of thinking differently and taking risks in pursuit of substantial change. Through this story, Gibson articulates a powerful critique of the higher education system and its resistance to change, while also showcasing the potential for radical innovation through determination and visionary thinking.
One of the book’s strengths is the embodiment that Gibson captures of a radical (he wants to compete higher education into the ground) but through the lens of a normal person. This is generally my macro critique of the Austro-libertarian movement. We need to remain radical and uncompromising without being so weird, and different to the world around us. Gibson does a nice job keeping this balance from what I can observe as well as in this book.