What Happens When The Edu-Bubble Bursts?
Heard the term "edu-bubble" yet? Chances are you will soon.
No doubt you've heard of the "dot-com bubble." And if you're like millions of Americans, you may be currently experiencing the ravages of the "housing bubble." But the edu-bubble?
During the dot-com bubble, from 1990-2000, speculative capital drove up the wildly inflated prospects of internet-based businesses. The speculation was driven to a great extent by venture capitalists and MBA-types who argued persuasively that the amount of "eye-balls" attracted to an internet site could be "flipped" into a revenue stream by "monetizing" the passing fancy of people searching the world wide web for just about everything other than haircuts.
But not every business could make the flip. While gambling and porn did fine, selling real goods like healthcare advice, groceries, and pet supplies didn't always do so well, and the whole market came crashing down, and