Disrupt or Be Disrupted
In the more recent past, CraigsList single-handedly turned the newspaper industry from an immensely profitable license to print money (via costly classified ads) to a struggling sector with an unclear future.
Digital file-sharing turned the $14 billion music industry into a $7 billion industry.
And now driverless vehicles are poised to disrupt the taxi and trucking sectors in ways few predicted.
The core idea of Disrupt or be Disrupted is that every sector and industry that avoids being disrupted just becomes a fatter target for disruption.
Higher education is a prime example. The industry has successfully staved off disruption by maintaining a lock on credentialing/accreditation--the famous signaling value of a college diploma, which verifies nothing about what the student learned or knows.
Now that student loan debt is $1.3 trillion and the administrative bloat of higher education can no longer be obscured, the industry is becoming a fatter, juicier target for massive technological disruption by the day.
As I outlined in my book The Nearly Free University and the Emerging Economy, it is not that difficult to lower costs by 90% and improve the actual education process.
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