There seems to be a fair amount cynicism around the business model (rather, the lack thereof) for these MOOC services. I personally believe that an interesting monetization model lies in examinations. EdX seems to be exploring proctored examinations with Pearson, but if someone can come up with a credible, non-game-able, non-proctored alternative, there's a lot of value to be created/captured.
Completing one of these courses along with the accompanying assignments only takes you so far. Grades in a rigorous examination, however, represent a credential, which in turn sets up much needed (by the candidates taking the course) signaling. Eventually, a lot of employers might end up becoming sensitive to this signaling. A crude example of this can be found here: https://news.ycombinator.com/item?id=3353543
If (and when) someone does crack this puzze and if employers in turn, react to this change, I see a lot of universities more than breaking a sweat. This latent potential is what, IMHO, most analysts / investors are really upbeat about.
I was involved in distance education at our local university for a number of years and we vetted remote proctors. In the rare case where getting a proctor to watch the student didn't pan out, I've seen webcam + screensharing used as an accepted alternative. Seems like this approach could be improved upon and scaled.
Completing one of these courses along with the accompanying assignments only takes you so far. Grades in a rigorous examination, however, represent a credential, which in turn sets up much needed (by the candidates taking the course) signaling. Eventually, a lot of employers might end up becoming sensitive to this signaling. A crude example of this can be found here: https://news.ycombinator.com/item?id=3353543
If (and when) someone does crack this puzze and if employers in turn, react to this change, I see a lot of universities more than breaking a sweat. This latent potential is what, IMHO, most analysts / investors are really upbeat about.