Bob's Daily Buzzword: `MOOCs'

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Sept. 26 (Bloomberg) -- Bob Rice, general managing partner with Tangent Capital Partners LLC, explains "Massive Open Online Courses." (Source: Bloomberg)

The term of the day, massive online open court's is, or mooc's, which are all the rage, actually.

If you are a dabbler, it is for you.

More than a dabbler, actually.

This thing is taking off at a high rate of speed.

Wharton just put it entire mba course of online for free.

Anyone can jump in there and now take those foundation courses, which up until now have been reserved for some pretty fancy students.

What about the business model?

I know you cannot get a degree.

They are from wharton, and they are the foundation courses, but if i take them i will not have a degree from wharton.

Right will stop some schools, actually, now georgia tech are growing all into the pool and they are allowing people to get a computer science masters degree for $6,000 or so.

If you can imagine that.

If fraction of the cost if you are on campus.

That is beginning to happen now.

We can see that the top 10 schools in the country at the moment have all jumped into themooc -- into the mooc program.

This is not bottom of the barrel content for education now.

Some of these courses are free.

The vast majority of them are free.

That is actually the idea, that they would be free.

Some of the schools use them to augment their in class professor presentations as well.

The interesting thing -- you asked about the business model a second ago.

Since they are free, you have the usual question, like why are vc's pouring money in?

Like sarah.

The answer is, it is the classic web premium model.

The vast majority is, indeed, free.

But they try to find some aspect they can charge students for.

Withcoursera, that is getting you to sign up and we will monitor your work and we will send a certificate to your employer that you completed this course work.

This is like distance learning of 15 years ago.

What is different now?

That was all videos and this is web 2.0. also, fundamentally it is just an idea whose time has come.

Education is -- the cost of education is killing people.

We have to use technology to solve this problem.

Bob rice, thank you very much.

Running me there with the mooc's

This text has been automatically generated. It may not be 100% accurate.


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