Apparently my comment on Mashable isn't visible which is strange because it certainly wasn't spam. They must be having a Facebook Connect issue. Anyway, I'm glad I posted here so some people will get a chance to read it. :)
KirstenWinkler
· 4 months ago
Time works for educhange :).
As money is involved in two ways (saving and earning) it is only a matter of time until we reach the critical mass.
On the saving side we need the political will. This is of course not the best reason for change but it will be a kind of agregator. California wants to switch to ebooks to save money, Texas is thinking about it etc.
On the earning side we have those numbers how much money is virtually on the table. Last sign here: Rosetta Stone going online, investing lots of money in TOTALe to catch up with platforms like Livemocha and others. They won't risk this if they would not see benefit on the horizon.
This whole market is still very young, far away of being mainstream. But the potential is huge.
Salar Salahshoor
· 3 months ago
In regard to #2, I completely agree with Jon about the value of traditional education increasing, at least until nano-tech and other paradigm shifts come into play.
Not only are ivy league degrees scarce and will continue to be valuable, but we need to take into account the type of value education is providing as a whole. I am mostly referring to the book, "The Experience Economy" here if you are interested in learning more.
Basically, we have been exponentially evolving from an agrarian economy to the present service/experience based economy. As we progress through these different stages, with changing societal expectations and perceptions of value, the profit margins of businesses operating in the old economies gets smaller and smaller.
Education is not only a valuable, high profit margin industry, but I would argue that it is at the top of the pyramid for value creating industries. The value transferred through education is transformational, that is the key.
Within the experience economy you have high profit margin/value experience businesses (e.g. live music, hollywood movies, video games, Google, Nordstrom, etc.) and you have the higher value classification of a transformation business (i.e. Universities, biotechnology, etc.), that result in transforming the person who interacted with the service, for better.
My main point here is that the transformational effects of a great education (mostly delivered through the traditional models) are invaluable. So much so, that it can cost close to $250,000 to receive such services over a two to four year period (depending on the school and subject studied), with relatively inelastic price characteristics. Meaning there will always be a much larger demand than supply and the price will happily rise, and people will happily continue to pay top dollar. Just look at how much it costs to see Bill George or other business leaders at a speaking engagement for 2 hours ($5k +). Talk about profit margins.
If you are interested in profit margins, provide value. I am hard pressed to find anything more valuable than education. Also, consider the amount of debt held by college graduates for their degrees. Compare this amount of debt held on any other intangible asset, and it will give you an idea of the value society places, and will continue to place on education.
I see eduFire with a great opportunity to capture the real valuable part of education and provide it online. It won't be long before we see $10,000 classes listed. That is because the value is in the wisdom of people who you pay to engage with and learn from, whether online or in a classroom, although there will always be more value placed on in person meetings, until virtual reality takes off. :)
jobseekers15
· 1 month ago
All things are not equal. Students spending three hours per day in an online environment under the guidance of a great professor are likely, and not surprisingly, going to be better prepared than those spending an hour per week in a classroom with a mediocre one.
All Comments
As money is involved in two ways (saving and earning) it is only a matter of time until we reach the critical mass.
On the saving side we need the political will. This is of course not the best reason for change but it will be a kind of agregator. California wants to switch to ebooks to save money, Texas is thinking about it etc.
On the earning side we have those numbers how much money is virtually on the table. Last sign here: Rosetta Stone going online, investing lots of money in TOTALe to catch up with platforms like Livemocha and others. They won't risk this if they would not see benefit on the horizon.
This whole market is still very young, far away of being mainstream. But the potential is huge.
Not only are ivy league degrees scarce and will continue to be valuable, but we need to take into account the type of value education is providing as a whole. I am mostly referring to the book, "The Experience Economy" here if you are interested in learning more.
Basically, we have been exponentially evolving from an agrarian economy to the present service/experience based economy. As we progress through these different stages, with changing societal expectations and perceptions of value, the profit margins of businesses operating in the old economies gets smaller and smaller.
Education is not only a valuable, high profit margin industry, but I would argue that it is at the top of the pyramid for value creating industries. The value transferred through education is transformational, that is the key.
Within the experience economy you have high profit margin/value experience businesses (e.g. live music, hollywood movies, video games, Google, Nordstrom, etc.) and you have the higher value classification of a transformation business (i.e. Universities, biotechnology, etc.), that result in transforming the person who interacted with the service, for better.
My main point here is that the transformational effects of a great education (mostly delivered through the traditional models) are invaluable. So much so, that it can cost close to $250,000 to receive such services over a two to four year period (depending on the school and subject studied), with relatively inelastic price characteristics. Meaning there will always be a much larger demand than supply and the price will happily rise, and people will happily continue to pay top dollar. Just look at how much it costs to see Bill George or other business leaders at a speaking engagement for 2 hours ($5k +). Talk about profit margins.
If you are interested in profit margins, provide value. I am hard pressed to find anything more valuable than education. Also, consider the amount of debt held by college graduates for their degrees. Compare this amount of debt held on any other intangible asset, and it will give you an idea of the value society places, and will continue to place on education.
I see eduFire with a great opportunity to capture the real valuable part of education and provide it online. It won't be long before we see $10,000 classes listed. That is because the value is in the wisdom of people who you pay to engage with and learn from, whether online or in a classroom, although there will always be more value placed on in person meetings, until virtual reality takes off. :)