Peter Thiel, Facebook's first outside investor, has had a bad year. His once lucrative hedge fund, Clarium Capital Management, lost money for a third straight year, bringing its assets down 90 percent since its peak. Now he's become a doomsayer.

Web entrepreneur Andrew Fashion made $2.5 million by the age of 21 helping people bling out their MySpace pages. He blew it all before he turned 22. Meet Andrew and learn where his money went.