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Today, Mi is 33 and founder of a startup that aims to give Chinese kids the kind of education American children receive in top U.S. schools. Called VIPKid, the company matches Chinese students aged five to 12 with predominantly North American instructors to study English, math, science and other subjects. Classes take place online, typically for two or three 25-minute sessions each week.
Mi is capitalizing on an alluring arbitrage opportunity. In China, there are hundreds of millions of kids whose parents are willing to pay up if they can get high-quality education. In the U.S. and Canada, teachers are often underpaid—and many have quit the profession because they couldn't make a decent living. Growth has been explosive. The three-year-old company started this year with 200 teachers and has grown to 5,000, now working with 50,000 children. Next year, Mi anticipates she'll expand to 25,000 teachers and 200,000 children.
(Score: 0) by Anonymous Coward on Friday December 23 2016, @06:34AM
is truly disgusting.
It is however partially the fault of the educators. None of them want the higher rung jobs (they want to teach) so the punters ending up in the administrative positions tend to be do-nothings with power complexes and good schmoozing skills (but often abusive/corrupt/elitist personalities) who in turn slowly ruin the teachers and school while siphoning money to pet projects or outright personal spending and then duck out before they can be investigated/indicted for it.
I saw it happen at both my k-12 and college level education, and have been reading continuing stories of it at other local education institutions in the years since. And that is *EXCLUDING* the private schools, many of which (outside those catering to the local elites) are just there to bilk sops out of their money without actually providing a marketable education at the other end.