Edtech SCAM Exposed 🔥 | How Edtech is Fooling The Youth ? Business Case Study [Ex, BCG; ISB MBA]
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- čas přidán 2. 05. 2022
- In this video, I share honest realities of the success or failure of India's leading Edtech ventures through a scientific case study mode.
Please note these are my personal views and like everyone, you are also entitled to your opinion.
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Shatakshi is Co-CEO of 🚩Global Governance Initiative (MBA program recently featured by Poets & Quants), an Ex- 🚩Boston Consulting Group, BCG, management consultant, a 🚩writer, and former public policy advisor in 🚩Tony Blair Institute for the Middle East region.
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• FOMO Marketing?
• FOMO Marketing?
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Is there any such initiatives in Mumbai or near to Mumbai
Please suggest
Where is it based
I would like know more about it but on google I didn’t get such information
How to know about the course everything
I have applied but not selected 😐
Shatakshi, Did you know BCG is the consultant partner for Byju's? Bain is the advisor to the investors who put money into Byjus. And former Bain partner - Rachna is the global sales strategy head at Byjus. Its a small world isn't it and money plays a big role! 😂
It's all Business 😂
I don't think one should pay for education especially when millions of hours of information is available for free on CZcams. From maths to rocket science to car repairs, everything is there on CZcams. The amount of money edtechs charge is ridiculous. Parents can send their wards to local classes for less than half of the fee of edtech and add communication skills to their wards by doing this. Combining corporates to education is a bad idea and would increase the divide between rural and urban indian youth which won't be the best for a developing nation. The traditional textbook knowledge and discipline is worth more.
Absolutely correct!
It's all about structured content.
I think there's a bigger problem in India that is aiding all these Ed-Tech companies and the entire education business. Which is related to the tag a person has. Nobody asks if a person is skilled or has knowledge in their respective field. Rather, they ask for their degree, their college, their post etc. Even the companies and many other employers ask for such BS. Else, You can get knowlegde about literally anything for free on CZcams and Google these days. But the thing is nobody is going to value such knowledge unless they have a some sort of a tag. Which is actually what all the students are running after in this country. And this is exactly what is being promised by Ed-Techs, Coaching institutes and majority of the Private colleges.
The problem with edtech or online course is that there is a huge decay in the number of students enrolling vs the number of students who complete the course and earn certificate.
The only meaningful Ed tech platforms I’ve seen are Khan Academy and Coursera. The issue with the Indian Ed tech startups has become just generating returns for their investors so all the focus has gone towards sales and marketing rather than the content itself . Upgrad has such brilliant marketing but their content is still average at best . The challenge is to create any meaningful business around education and healthcare space cause these are the two industries where the goal cannot be to generate maximum profit cause then it fundamentally defeats the purpose of reaching everyone with the highest quality of purpose at the least amount of price . I’ve myself had a failed startup in this space so I have some idea about all the challenges that come along creating an Ed tech company .
PHYSICS WALLAH???
Would like to talk to you about this
Agreed. Quality is simply not given any importance within any of these companies. The idea is to simply publish things at specific, unrealistic deadlines, whatever be the quality of those materials.
I think there's a bigger problem in India that is aiding all these Ed-Tech companies and the entire education business. Which is related to the tag a person has. Nobody asks if a person is skilled or has knowledge in their respective field. Rather, they ask for their degree, their college, their post etc. Even the companies and many other employers ask for such BS. Else, You can get knowlegde about literally anything for free on CZcams and Google these days. But the thing is nobody is going to value such knowledge unless they have a some sort of a tag. Which is actually what all the students are running after in this country. And this is exactly what is being promised by Ed-Techs, Coaching institutes and majority of the Private colleges.
Very interesting video ma'am. From what I could glean from your video, I think you are more focussed on the long-term results and output that education should generate. As you rightly pointed out today's ed-tech startups are pretty low on innovation. They are basically trying to adapt a brick and mortar model to the new internet age and as with any large brick and mortar coaching institute, attention given towards quality of teaching and personalisation of education take a big hit when catering to a large group of students. In my opinion though the current Ed-tech model of business prevalent in India will continue booming. The reasons why I believe so are the following:
1. India has the highest number of people aged 25-40, hence education and upskilling is a big need.
2. The ed-tech startups sit on a sweet spot on Maslow's hierarchy of needs. They satisfy the security needs of the consumers since majority of Indians believe that a good education is the only road towards a happy and secure life.
3. Ed-tech startups are making it more and more convenient. I am from a tier 2 city in India, during my class 12th I didn't have access to quality coaching in my city for JEE exam. As a result I had to rely on self study only( Although I did manage to get into a top NIT ,it was a hell lotta difficult for me) but today kids in my city can just login into their unacademy accounts and get access to good educators even if not the best. So increased accessibility and increased internet penetration in India seems to favour the ed-tech companies.
4. Brilliant marketing and sales strategies used by these companies. I don't need to elaborate on this, every kid in India perhaps may see the Byju's ad play on TV, youtube,Fb a hundred times a day. Like Hitler once said, if you want people to believe something, tell a big lie and tell it frequently enough.
5. Anxiety reduction. Even being a developing country, parents spend a fortune on education of their children. Byju's and others often induce anxiety among parents through their marketing initiatives and FOMO like feelings and then provide instant, gift wrapped solutions to the anxiety generated. No doubt they are able to keep acquiring new customers and shooting the company valuation to the moon.
Hey Shatakshi what do you think are the top 5 skills for a Graduate who is working as an Analyst or a CSM and wants to learn something daily and can put in 5 to 10k monthly and 2 hrs daily to excel in his career with out going through an MBA degree. Like I have a problem writing what I am thinking in an articulate manner but I can express it verbally. BTW great content.
A video on this will drop soon :)
@@Shatakshi.Sharma drop it quick 😂😂😂
Hello Shatakshi,
it was a really nice video; can you please make a video on such frameworks or matrices?
I believe it depends on the student, like what they want and what's their caliber, for eg, I will prefer to go to college to get an MBA Degree and all the knowledge behind it, whereas some of my friends are learning new skills like Data Science and Coding languages while working in MNC and fact is they are getting benefit from it. I know that after a few weeks I can't focus on live classes for 2 years just as per the college curriculum. But for some short-term courses like digital marketing, I will love to attend weekly live or recorded classes. so my final take is, onine classes as best for short term courses since they are convenient but traditional college degree witth experience, knowledge, network building, etc cant be replaced that easily.
Not entirely agree, the courses of edtech are more and more curated towards what the demands of the market are example AI, ML, robotics etc. Even MBAs are pivoting to industry relevant specializations. So that BCG template misses lot of details. BUT yes some points are valid too. :)
I feel byjus and other platforms have received a lot of negative pr based on the sales team. They should rework the target customers and focus only on them. Also India is a country where a lot of people are still not aware about the skill based learning. So the ones who do care about the platforms are already part of b schools or tier 1 colleges who don't need a course to supplement their knowledge apart from the curriculum and the other segment are unaware
I had one question i am a bba graduate this year from a normal college, can i join GGI MBA what prerequisite are required to join GGI MBA
But the fees is much less than offline degrees.. investing 50-70 lacs as fee is too much
Very well said it's the distribution which needs to improve for our education system
Ma'am i have falled in the trap of upgrad is there any possible solution to get out of this i am paying emi every month it is great problem now ma'am
although I somewhat agrree with ur point ,but the need of the hour is an alternative form of education which has been in same manner since centuries,
the problem is the so called edtech companies are trying to loot for some of the courses and also as u said many youth are misusing the online platform just to enhance their CVs with opting courses.
The way you explained the complex thing in simple terms is fantabulous!
Where should one learn investment banking?
Thanks to make an important video.
I can largely relate with the product innovation and learning outcome because now-a-days education is sold rather than being given for the purpose of making the country literate.And unacademy has an whole amazing marketing team and strategy behind their back and they are forcing wherever we go.Unacademy has sponsored way too much than their power and reports suggest they are on the verge of bankrupt.On the other hand US firm invested millions on allen coaching. Point is edtech firms in india have their own uncertainty as to where they will end up.This makes the edtech business case study interesting.
thank you so much for such insightful information.
Thanks for the honest review and it makes so much sense. Another big issue, I believe, is quality of teachers. This is because these Ed tech don't pay good enough to attract quality teachers. Time spend with a good teacher can actually boost student's confidence levels and creativity, which can help students get a job to start with
You changed the way I perceive education sector
The points you talk on ed tech are absolute true and in real. I am very happy that you brought some points and how they are spoiling education system in India..
Yes, you have said correct madam.
Pass? Fail? Lately, it's all about who can fool around well :P No hard feelings towards anyone specific co. :)
P.S. - Really love your content. Good job :))
Hoping to be part of the GGI someday very soon.
this video might not get views, which is great, great knowledge is often underrated
Rightly said Ms.Sharma you are a genuine person
is someone gonna comment how aesthetic is your room setup? amazing.
Hi, I’m a college dropout and working as a software engineer
Planning to do bachelor in Germany with the help of upGrad Abroad
I don’t know it’ll be my good decision or not
Can anyone answer on this
Great message 💕💕🙏🙏
really helpful content mam
Huge respect to you 🙏
Your views on Nmims executive MBA for working professionals.
Can you have also a edu tech .
How can you teach me English.
What are the reasons that you very good in English
If the schools run by government or privately can provide proper education and other facilities crucial for all round development of the students then parents would think of getting their children rid of coaching. It is happening in a few cities not in every city, that's where parents have to look for other options.
When it comes to learning outcome "pesto" Is is doing what they have promised but it's hard on scalability side.
Ma'am Kya aap fees return karne me help Kar sakti hai
I think there's a bigger problem in India that is aiding all these Ed-Tech companies and the entire education business. Which is related to the tag a person has. Nobody asks if a person is skilled or has knowledge in their respective field. Rather, they ask for their degree, their college, their post etc. Even the companies and many other employers ask for such BS. Else, You can get knowlegde about literally anything for free on CZcams and Google these days. But the thing is nobody is going to value such knowledge unless they have a some sort of a tag. Which is actually what all the students are running after in this country. And this is exactly what is being promised by Ed-Techs, Coaching institutes and majority of the Private colleges.
I do agree with you 😌
I have been following the Byjus Business model just to make up my mind on whether it is actually a positive or a negative revolution.
Disclaimer: This is solely my perspective. That's it.
A point that we all can agree on is that none of us like to be sold and when it comes to something that we are not even aware of is a sheer game of mental exhaustion. The product of Byjus is good as per the reviews I got from people but their selling technique is something that we hate. Had it been marketed in the right direction and chosen its strategy keeping the initiator and the user in mind it would have performed in a more positive way. Selling concept in India can only be a success if it is a multi-level market.
One of the ex-employee of Byjus claimed that their strategy is to throw hard questions on students in the intro class to humiliate the kids and parents, some employees are okay with this but others narrow it down to a shallow tactic. My point is the right product can be sold the right way without harming your ethics.
Byjus has so much of hate everywhere. Haven't heard that much of negative things in the past few years about any organization. Idk to extend is it true but when you hear scam and misbehavior with employee or customer they definitely pop in your mind.
Irony is Upgrad advertisement playing before the video and this time I watched it full only because of Big B. What matters is how you perceive a brand and how the brand is creating an image in your mind. I watched an advertisement (that too of edtech) only because it had some megastar (high brand value) in it. High Insight MNC's, startups , may come and go but what remains forever in our mind is the impact it makes. If it takes a positive impact or a value addition , people appreciate it and remember it for a long time.
Coming to the question of sustainability of ed-tech startups, no doubt they are loosing their path but if they focus more on the quality of their content and less on increasing their market share, they will surely be able to push themselves forward.
With proper quality , market share and expansion will take place automatically.
Subcribed purely because of the honesty and value of content in this video.
Thanks for kind remarks :)
Now a days IIM are also started online courses in Product management
I subscribed your channel 👍
It's easier and takes less time to fool than to do innovations or working for the disruption. VC money is free and being shared among the connections, and everyone is taking the pie. In India, majorly everything is sold on emotions than merit.
Your swinging chair ⭐
How is Vedika Scholars women empowerment program in Delhi
Largely yes. With Pramarth Sinha as founding Dean, the school is in safe hands. Pramarth is one of the few leaders in India who understand education well :)
Mere jaise kitne maa baap honge Jo apni jindgi bhar ki kamai bachcho ke liye de dete hai par admission ke naam per college wale unhe loot lete hai
Physics wallah and apni kaksha best
Meri beti ki fees college wale nahi de rahe
Most of them are making money only and not caring about the real and experiential learning
That's why china did cracked down all fin and edu tech. Need in India also and also in education system where political change there black money into white.
TBH... With a service sector dominating in the country we can't say it as scam in current situation as they at least doing the business bro but this can be done in more smarter ways. Also, every ed-tech is scam even the udacity (offline scammers are the same😆)
Lol
Please help
It feels like most ed-tech firms are only piggybacking vulnerable parents to force their children into these programs. The whole purpose of a tutor is to assist you in weak problem areas.
6-7 hours of school plus 'mandatory' coaching leaves little to no room for students to pick up other skills.
Hii
I have dropped some ques in ur instagram DM please check them