Question
The book 'Post Corona: From Crisis to Opportunity' suggests that the pandemic will accelerate trends in the education sector. Key takeaways for entrepreneurs include the potential for online education to scale, leading to increased revenues for top universities. However, most other institutions may see a decrease in income. The book also predicts significant disruption, with Big Tech firms potentially partnering with academia to offer cost-effective degrees. For example, Google has already started offering courses with career certificates that it and other employers consider equivalent to a four-year degree.
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Online education holds tremendous potential as it can scale. Top professors and administrators in the top 10 universities will see classroom sizes expand and revenues rise. Almost everyone else in academia will make less. The most significant disruption could be Big Tech firms partnering with academia to offer 80% of a traditional four-year degree at 50% of the cost. MIT and Google could offer joint 2-year STEM degrees, enrolling 100,00 students at $25,000 per year in tuition, yielding $5 billion for a two-year program. In August 2020, Google began offering courses with career certificates that it and other participating employers will consider equivalent to a four-year degree in that domain.
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