Is edtech in a bubble?
The Knewton Blog excerpt
The shifting of education from analog to digital is a one-time event in the history of the human race. At scale, it will have as big an effect on the world as indoor plumbing or electricity. The consequence of nearly every human being receiving as much education as she wants and her ability permits will transform quality of life and global GDP within one generation, with crazily exponential effects to follow. Massive pools of human talent will be unlocked. How many of these better-educated people will raise better-educated kids? How many more great minds — future Einsteins, Curies, Da Vincis, Pasteurs, MLKs, and McCartneys — will the world produce when we can quadruple the number of high school graduates? What kind of extraordinary growth will result from the contributions of even one such transcendent genius?
It’s hard to look at the scope of likely transformation and get particularly concerned that too much money is flowing into edtech. This money is fueling the technologies and business models that will power this once-in-history transformation. There will be some hugely influential movements emerging over the next decade and some very large companies built.