Thursday, November 5, 2015

Why Ed Tech Is Currently 'The Wild Wild West' - Jennifer Reingold, Fortune

The massive disruption of the education industry is well underway, but the biggest tremors are yet to come—disruptions so dramatic that many universities will cease to exist in the next few years. That was the conclusion of the panelists at the Fortune Global Forum’s session on Ed Tech. Said Alan Arkatov, a professor in USC’s Rossier School of Education: “Think Jurassic Park,” he said. “I would say 500 to 1000 colleges across the country will not be around, or will have morphed into something else, because they do not have a sustainable business model. The market will annihilate those folks.” Two of the would-be annihilators—Dennis Yang, founder of Udemy, and Daphne Koller, founder of Coursera, weren’t disagreeing. Yang’s company, which allows anyone to offer a course and relies on the market to sort out the good from the bad, now offers 30,000 different classes in 80 languages. And Koller says Coursera has reached 4 million “learners,” with much of the company’s growth coming from outside the U.S.

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