AMA about Edtechs
As the title says. Have worked close to 10 years now in this industry. Can answer on how sales, marketing and operations work here. Never had visibility on funding etc but have seen the ill effects of toxic VC money
I recently shifted to edtech, do you see this as a promising sector in the future or just surviving on VC money?
LastWit51
Stealth
a year ago
This currently only surviving on VC money and I think this has done more harm than good to the society. Education can’t be scaled very fast, it needs time and patience. At the end edtech can create value, but not necessarily money. Education should be a social good and shouldn’t be seen as a traditional business. Things can change if people who actually teach can start running these companies as well.
Is the impression that Edtech firms have been all about rapid scaling fair in your opinion and is there really value to be gained as an Edtech business with more gradual and organic growth
LastWit51
Stealth
a year ago
Rapid scaling is bad. Perfecting to teach for outcomes, takes time. Edtechs can move faster than universities but not at their current pace.
For most companies, why is sales more important iF EdTech is such a big need of the country?
LastWit51
Stealth
a year ago
Because they don’t perfect their product and straightaway jump into selling. Also most run on venture capital, there is an unrealistic vc greed that they need to chase. Easiest short term fix for them is to splurge on marketing and sales.
In K12 your user and buyer are different. Student, who is your primary user and engaged in your product does not have purchasing power. Parents have hardly interacted with your product and the sales person becomes in picture
LastWit51
Stealth
a year ago
The thought behind these ventures is not really bad, but the moment you have very traditional management running the show, things start falling apart. I don’t know the team in these two companies so can’t comment, but believe educators with managerial talent, should be running the show.
RichDadsPoorSon
Stealth
a year ago
Thoughts on online MBAs ?
LastWit51
Stealth
a year ago
Hard skills like coding, certain kind of mathematics can still be taught online. Management I believe is tough to pull off.
Online MBA's/CBC edtechs are like long-distance relationships that last for a few months. Accha lagta hai but hota kuch nahi.
EdTech firms chase unrealistic ARPUs. Leading to high CAC, miscommitments by sales teams and low satisfaction. EdTech delivers a certain value in today's construct and if you want more money than the value it delivers, you need a sales push backed by big marketing muscle - this is not sustainable.
LastWit51
Stealth
a year ago
Exactly!!
Scrooge_McDuck
Stealth
a year ago
Your thoughts on platforms like scaler?
LastWit51
Stealth
a year ago
I think now its just VC money and VC greed forcing them to grow. Interview bit was good and in general i feel they seem to know what they are doing, but the scale they are targeting is very large, its some times important to have patient investors.
Alongside Edtech boom, there was also a boom in BDA/Growth roles. Is it just a fancy word for Sales?
LastWit51
Stealth
a year ago
Yes, traditional MBA folks running the show in these places think very linearly, more sales folks more revenue, then to sustain revenues you needs leads (Growth/Marketing)
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