I have been thinking about the relationship between venture capital and MOOCs, on how monetizing MOOC would work.
Here is wonderful video on Entrepreneurship Through the Lens of Venture Capital.
I am pretty impressed with David’s points here (starting at 17:14):
“If you build something amazing that is transformative and important, there will come a time when you can monetize it. In the meantime, you know, there will be a market for it. There will be an opportunity to grow, it will have a positive impact on the world, and that would be of value, and create value,…. what is it like six months…”
“We are all making guesses of the future.”
That is really an aha moment for me, when I reflect on what the whole MOOC means. If I were to re-phrase the whole concept of venture capital, by borrowing the statement of David, and apply it in MOOC, it means like:
“If you could build MOOCs (Massive Open Online Courses), that are transformative and important in educating the world, there will come a time when you can monetize it. Here, we have a huge global market for these MOOCs. We could now take up this opportunity to develop and experiment with all these flipping the class, short video based lectures showcasing the best professors, and offering the best educational videos, and assessment system (computer-based quizzes, practices, automated marking and grading system, and peer to peer assessment). These will have a positive impact on the world, and would be of great value to any student in the world, and create value to HE institutions and HE globally. ”
As an educator, I think it’s time for me to get educated in this venture capital, and may be enrolled into a Venture Capital MOOC, so I could be ready for the MOOCs.
I think this video is really a must watch for any one who is interested in MOOCs or one who wants to understand the relationship between a business such as MOOC and Venture Capital.
This MOOC and Higher Education provides a wonderful summary of MOOC and the possible business model.
If you are an educator, are you ready for this venture capital? If you are not, what would you do?