When entrepreneurs pitch to me, one of the first questions I ask them is how much money they want to raise and what their pre-money valuation is.
This is often a question which stumps them, because their calculations are based on what they read in the startup press ( using comparables), or by using Excel gymnastics, or what their CA tells them (textbook gyaan)
Most calculate how much money they want to raise, decide how much they want to dilute, and then come up with a number, which is a bit like pulling a rabbit out of a hat
The biggest problem with #Edtech startups like #Byju's and #Vedantu is they focus on tech rather than teaching !
Teachers >> Tech Thread 🧵
Thankfully, they are gradually recognising the importance of the human touch, which is why so many of them have started adding teachers ( AKA coaches and mentors ) to their online training programs .
The problem is that most of the " teachers " employed by these EduTech startups are treated as widgets , who are trained to do their job in a mechanical , detached fashion , in order to earn their salary , rather than because they care about their students !
The Govt can draft a law which makes it compulsory for EdTech businesses to collect fees only by offering subscriptions which need to be renewed every month ( rather than forcing parents to buy expensive multi-year subscriptions by offering them a discount).