Edtech winners and losers
Philip J. Kerr,
Adaptive Learning in ELT,
Nov 19, 2024
Philip Kerr writes on the struggles of the Indian learening company Byju's. "Byju's is effectively 'worth zero', according to the founder, Byju Raveendran. Even before the World Cup, the company was on a losing streak, as financing dried up, and the bubble it had built was no longer sustainable. Key investors pulled out, and it was accused of ''toxic' targeting of low-income families, high-pressure sales, misleading advertising, and exacerbating existing educational inequalities'." Of course, the company's absurb valuation couldn't have helped. "It is a figure significantly greater than the entire Indian national budget for school and higher education." I'm sure Cory Doctorow would have a word for it, but to me it's just another example of the toxic influence of VC financing.
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