Friday, August 02, 2019

Kara Swisher interview with Pearson CEO John Fallon

The $300 Textbook is dead.

"One of the biggest challenges I think America has, we have something like 30 million working adults who have paid for some form of university education, but have nothing to show for it, so a lot of it is around how do you help people to complete the university education, have the credential and badge that enables them to progress. So we do a lot of that. We work in 70 countries around the world, 24,000 people, big digital transformation. So we’re investing about a billion dollars a year in the research and development of things that help people to learn more effectively. That’s essentially what we do."

"Exactly. So if there is a ... We are in the 14th edition of Philip Kotler’s Marketing, the bestselling marketing textbook in the world. There won’t be a 15th edition. Think of it more like FIFA 18, FIFA 19, FIFA 20. It will be Marketing 2020 version one, version 2. Digital first, designed for a mobile world. You update for when there’s changes in the field of study, scientific breakthroughs, new case studies. You update for advances in AI as we think of new ways that we can provide more personal adaptive learning. And because you’re breaking away from what was a very expensive and time-consuming analog-led model, it’s not just much more effective, much more personal, much better outcomes, it’s much lower cost, so the $300 textbook is dead.

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