The Education Transformation
Back in March 2009, USV hosted an event called Hacking Education. It was the beginning of our effort to invest in the transformation of the education sector.
A few weeks ago, USV held its annual meeting, roughly 15 years after we closed our first fund. And our partner Rebecca gave a presentation on our education portfolio, which is now one of the strongest parts of our entire portfolio.
As Rebecca was developing her presentation, I wrote an email to her that said:
when did we do Hacking Education? Was that ten years ago now? That may also be a useful reference, maybe at the start of the presentation
And so she went and pulled some photos of that event to start her presentation.
Rebecca concludes her post with these optimistic words:
Our education portfolio has become a core value driver in our funds. In part, we think this is because we have hit the tipping point in consumers’ interest in self-driven, direct-to-learner education because technology has enabled higher quality education to be delivered at a lower price point, a counter-balance to the inflationary trends we’ve seen to date. Appetite for products and services that reframe what it means to learn – and how to learn – is high, and quickly accelerating.
As Bill Gates famously observed, we overestimate what can be done in a year and underestimate what can be done in a decade. A decade after hacking education, we are working with a bunch of high growth companies that are helping to transform what it means to learn and be educated and we are very proud of that.