Why do education startups fail? Because…
- Most entrepreneurs in education build the wrong type of business, because entrepreneurs think of education as a quality problem. The average person thinks of it as a cost problem.
- Building in education does not follow an Internet company’s growth curve. Do it because you want to fix problems in education for the next 20 years.
- There are opportunities in education in servicing the poor in the US and building a company in Asia — not in selling to the middle class in the US.
- The underlying culture will change and expose interesting opportunities in the long term, but probably not for another 5 years.