If everything in edtech is a scam, what is not ?
I'm tired of people calling everything in edtech a scam, of course the companies don't help themselves by their bs marketing and unattainable placement claims and other bullshit
But I'm genuinely curious as to what grapers/ grapies / viners find to be not a scam in edtech ?
Upskilling edtechs are mostly doing a good job, Emeritus, GL, and upGrad - learning & upskilling is big in foreign countries already, these platforms are getting good courses and there is a genuine effort to place students as well
Even firms like leveragedu which is focusing on financing foreign education loans and the process...or for that example sunstone which is doing very well
Is not leverageedu business model fundamentally based on conflict of interest? They make money from universities (affiliate commissions). So, they will be sending many unsuspecting students to wrong course/universities. Quora is full of such stories. May be slightly better than office touts in Punjab’s streets!
Don't think you can call edtech a scam as such my friend. The issue is the unholy Nexus between the founders and the VCs who only want returns on their investments and the growth at all costs philosophy..the issue is their crazy valuations and the underlying assumptions...this makes everyone from founders to VCs focus on unnecessary (read mindless) growth strategies which are just excel extrapolations and nothing at all. I don't think there is anything wrong with edtech as a business
yeah, i dont think its a scam it got over valued due to greedy investors. but i want it to fail simply because the try to capitalize the fear and insecurity of the poor people who think college education is the gateway to better life.
Karma will get to it brother. Don't worry
Most successful edtech companies are online coaching/training classes. Highly scalable and profitable. Problem is the valuation multiple not business in itself.
How is all edtechs scalable? When you already have so many giants.
Here is proof they have no moat against offline coaching https://thearcweb.com/article/offline-centres-may-deliver-50-of-unacademy-revenue-2024-h889hzIOKrVNwS2z
Most courses offered by edtechs are just shallow and high level stuff and they market it like you getting taught by Harvard professors and will get placed in Faang after taking their useless course.
I think the Coursera/edx way although flawed is still better than the scummy practice by Indian startups. Most part of the course should be freely available but you need to pay for a certificate or access labs/one on one sessions
Agreed
The best edtech that's still untapped is educational games. I learnt way more playing educational games in my childhood and being more engaged as well than through books. Sadly, no one wants to go there.
Real edtech is not making classes virtual or having online tests and study material. Real edtech is using tech to improve education medium and knowledge retention. Gamification is key.
Sounds interesting. Many have tried. It does not scale as most students are focused on clearing entrance exam.
It scaled ages ago, look up Kevin o Leary and his The Learning Company exit.
But yes, contextual to America. India has more focus on clearing entrance exams unfortunately. But that still doesn't mean you can't gamify it. Just that no one has tried yet.