I’ve been lucky to work with the amazing team at Union Square Ventures here at Wattpad. Today they wrote a post about the state of the education market, and the transformation taking place in the industry.
The crux of the problem is that education represents the highest growing cost for an average American. It’s become increasingly difficult financially to afford a decent education - ironically at the same time education delivery technology has improved rapidly.
From the post:
Our education portfolio has become a core value driver in our funds. In part, we think this is because we have hit the tipping point in consumers’ interest in self-driven, direct-to-learner education because technology has enabled higher quality education to be delivered at a lower price point, a counter-balance to the inflationary trends we’ve seen to date. Appetite for products and services that reframe what it means to learn – and how to learn – is high, and quickly accelerating. Which is all to say, we’re ready for more and eager to meet the teams that are building the products and platforms that will restructure education.