Thread by @caffeinatedwes, There's something happening in higher education that I think has not been [...]

There's something happening in higher education that I think has not been articulated often or well enough.

I refer to it as "The great reset" or "It's time to disrupt Harvard"

Thread

First, context: I believe many people familiar with current problems in higher education only touch on surface issues.

Or, they focus exclusively the United States (only ~4% of the world's population!) or USA + Europe (~14% of the world's population!)

I'd guess this is because...

1) many folks in higher ed come from traditional higher ed backgrounds

and

2) what's happening in higher education right now is a "reset" to incentives and structures that haven't been popularized in their lifetimes.

Let's get into it...

Hundreds of years ago, education from apprenticeships and early universities sold *utility*

You'd learn skills and knowledge you couldn't easily get anywhere else.

Afterwards, you expected you'd be able to have a better life. (generalized: higher income)

Over time, however, that "sale"—and its selling process—evolved.

People went to the higher ed institutions for the utility, but they stayed for the network.

That network provided more value as it grew. It could help you land jobs or generate valuable business relationships.

In modern times, however, education institutions have over-relied on the network in the sale and selling process.

That means consumers of higher education bear more risk waiting until they receive the utility they assume is coming. https://twitter.com/caffeinatedwes/status/1280291369165127683

https://twitter.com/caffeinatedwes/status/1280291369165127683

Take Harvard's recent move to continue charging a "sticker price" of ~$250k for a 4 year degree while they go fully online.

They're placing a big bet that the network is worth the price, despite the challenge of replicating the network online.

Harvard's credential and network has sticking power, but they they're not untouchable.

Harvard is tasked with building a powerful online social network that manufactures serendipity and social capital (positive-sum connections between folks) as well as their in-person campus.

That's really hard.

Think about all of the online experiences you've been a part of.

How many of those were truly great?

My bet: probably not a lot. We're all still new at this.

I've seen startups with teams that have software and technology backgrounds work tirelessly to do this ( @microverseinc @beondeck).

It requires a whole new mindset around intentional experience design.

Quick aside

Worth mentioning two inevitabilities:

1) Online experiences will continue to improve

2) More online experiences will optimize for social capital https://twitter.com/caffeinatedwes/status/1218968492004859906

https://twitter.com/caffeinatedwes/status/1218968492004859906

Back to the thread

You might be thinking "I see where this is going, but Harvard (or X institution) isn't going away anytime soon."

Completely fair opinion—they've been titans for *literally* hundreds of years.

But let's reframe the discussion into the following question-

"Will Harvard or (insert other higher ed institution of choice) be able to build higher ed social networks that are good enough to maintain their defensibility?"

Read the snippet below ( https://www.forbes.com/sites/susanadams/2020/07/06/harvard-will-hold-all-undergraduate-classes-online-this-fall-and-invite-only-40-of-students-to-campus/#c445da2bdd58), read additional articles, and imagine the backgrounds and experience of the most powerful people in these orgs.

My bet? The answer is "No, they won't be able to maintain their defensibility."

That's what this great reset will entail: a massive surge in education entrepreneurs and startups that will disrupt higher education globally.

To quote @billgates...

“Most people overestimate what they can do in one year and underestimate what they can do in ten years.”

Disrupting higher ed institutions won't happen overnight, but my bet is that it will happen sooner than most think.

Y Combinator didn't become Y Combinator in 1 year or even 5 years, but its credential has become more valuable in tech circles than a Harvard MBA in ~15 years

So to the ambitious entrepreneurs of the world...

It's your chance to disrupt Harvard (and others).

If Align can be helpful as you try to disrupt Harvard and others, DM me. https://twitter.com/withalign_/status/1273660700804747272?s=20