Buy merit vs sell education
Degrees that need an annual upgrade
Live vs static degrees
Life was pretty straightforward till a few decades ago. Customers paid suppliers who made a living from profits of sale. Accountants determined profits. Profits determined valuation. Education ended with a degree. Earning started when learning ended.
Life is no longer straightforward.
In Google maps who is the customer and who is the supplier. Where is the revenue in a free service. Is valuation linked to market share or profits. Why are companies being sold at a multiple of losses. Can education ever end ? Do I need to learn ai to use ai ? Laws of economics do not seem to work these days.
In light of all this how do we reinvent education. Here are some thoughts;
1. Why should students have to borrow money from their parents to study. What if we made the basic degree free and billed for each annual upgrade
2. Why can startup executives not be encouraged to register for a PhD so they can learn and earn together.
3. Should alumni pay an annual fee to keep their degree live and upto date. Should annual upgrades be sold to keep education relevant.
4. Can we separate examination from the teaching so that we have a third party assessment of skills and capability. ICAI for example only controls the exams, not the training or the classrooms for CA certification. NISM is likewise for financial intermediaries.
5. Should similar paradigms be used for healthcare ?? Are both education and healthcare showing market failure
