“Do you hear that? It might be the growing sounds of pocketbooks snapping shut and the chickens coming
home... .” AEIdeas, August 2016. http://bit.ly/2nHvdfr.
Irrational Exuberance, Robert Shiller. http://amzn.to/2o98DZE.
The education market is ripe, and I mean falling-off-the-tree ripe,
to be disrupted. A sector’s vulnerability is a function of price increases
relative to inflation and the underlying increases in productivity and
innovation. The reason tech continues to eat more of the world’s GDP
is a gestalt that says we need to make a much better product and lower
price. Education, on the other hand, has largely remained the same for
fifty years and has increased prices faster than cable, and even health
care.
I teach 120 kids on Tuesday nights in my Brand Strategy course.
That’s $720,000, or $60,000 per class, in tuition payments, a lot of it
financed with debt. I’m good at what I do, but walking in each night, I