Why Are There No Large Market Cap Companies Globally in Edtech?

Goldman Sachs, in a note this week, via India Dispatch: There are various reasons that explains this: (i) A large part of the global education spend goes towards formal education (schools, colleges and universities), which are typically either run by governments or are not-for-profit institutions;

(ii) It is difficult to replicate education quality at scale in our view, since most teachers would have a different pedagogy, and thus standardization is harder to achieve vs that…