Why For-Profit Education Often FailsOctober 25, 2016 | :
by Beth Golden
In the last couple of years, a number of well-known and highly-successful business people have made investments in education with the noble intention of bringing innovation and knowledge to a greater number of learners with convenience and at a lesser cost. However, a number of business ventures in this area have failed rather miserably.
Take the example of LeapFrog Enterprises, it was the best-performing IPO of 2002 and was founded by brothers Michael and Lowell Milken in 1996 and supported by Oracle’s CEO LArry Ellison. Aptly named, Knowledge Universe, it was, in the words of Michael Milken, intended to be “the pre-eminent for-profit education and training company,” that will cater to learners of all ages.