Chip rings the closing bell.... https://www.nasdaq.com/events/2u-inc-rings-the-closing-bell
2U-USC
Imagine what happens if ED really goes after OPMs. https://www.highereducationinquirer.org/2023/03/erica-gallagher-speaks-out-about-2us.html
Borrower Defense Claims Surpass 750,000. Consumers Empowered. Subprime Colleges and Programs Threatened.
As of January 2023, there are more than ¾ of a million Borrower Defense claims against schools. And each month, about 16,000 new claims are added. Those claims are disproportionately made against a number of for-profit colleges and formerly... — read more
2U-USC fallout in DC
Let's see how this mess continues to develop. ED has already changed rules about transparency with universities and OPMs that is scheduled to take effect in May. https://www.linkedin.com/feed/update/urn:li:activity:7039340383553626113/
More dismal news
Trying to stem the losses by more firings? https://www.highereddive.com/news/non-degree-programs-high-costs-crowded-market/644054/
Cost cutting ahead
https://seekingalpha.com/article/4582641-2u-declining-enrollments-will-threaten-profitability-plans
ROI with numbers?
Is 2U trying to sell schools with ROI for the programs? If so, isn't this fuel for Borrower Defense to Repayment claims?
It's PR Time....
"We care about our mission, we care about our partners and we wake up each morning in service to the 48-plus million learners that come to our platform seeking life-changing educational opportunities. It is time to embrace — not censor — the... — read more
Steer clear for your own sanity
This was written in 2019, yet not much has changed. Except it has gotten worse. No more company meetings is a plus. “Steer clear for your own sanity" Admissions Counselors at 2U perform work much closer to fraud telemarketing than "counseling." The... — read more
"Oversight Coming for Online Program Providers"
"Colleges and universities that contract with an online program management company need to submit details about those arrangements by May 1." https://www.insidehighered.com/news/2023/02/16/education-department-review-rules-online-program-providers — read more
Big Tech Stagnation
The next phase of edtech... https://novum.substack.com/i/101103540/big-tech-stagnation
"DeLauro: For-profit online program management companies are the new predators in higher education"
The heat will be on even after this latest round of layoffs. https://www.highereddive.com/news/Rosa-DeLauro-for-profit-online-program-management-companies-OPM-predators/641131/
More Layoffs Today
At least one team was gutted with no prior warning
Here we go again
Looks like the other shoe has dropped only this time they're not dragging us along for the ride....
Path to Profitability?
"Although 2U officials touted that a new business strategy is helping the ed tech company get on track to be profitable, they told analysts Thursday that they still expect net losses in... — read more
Ch*p explains it all...
Lots of s**t to digest. https://seekingalpha.com/article/4574951-2u-inc-twou-q4-2022-earnings-call-transcript
2U may make a profit?
"The consensus EPS Estimate is $0.21 (vs. -$0.20 last year) and the consensus Revenue Estimate is $234.72M (-3.6% Y/Y)." https://seekingalpha.com/news/3930864-2u-q4-2022-earnings-preview
UT-EdX nightmare
Forget the humans... https://wallyboston.com/ut-austin-artificial-intelligence-degree-trailblazer/
Aunt Cathie...
2U is almost at the bottom of the spreadsheet, in purple... https://seekingalpha.com/article/4572886-tracking-cathie-woods-ark-invest-13f-portfolio-q4-2022-update
Benefits reduction, RTO, trying to weed people out?
Since the company has now cut tuition benefits, begun policing UPTO, and is now demanding RTO do we think they are hoping people will voluntarily resign? Are more layoffs coming? Also, I was told sick/safe leave is now included in our 20 days of... — read more
US Department of Education Office of Inspector General
Can you imagine 2U being involved in an ED-OIG investigation? https://www2.ed.gov/about/offices/list/oig/justissued.html
Public Transparency for Low-Financial-Value Postsecondary Programs
This could put 2U on the radar again. https://www.highereducationinquirer.org/2023/01/public-transparency-for-low-financial.html
Auntie Cathie...
2U's biggest cheerleader... https://www.msn.com/en-us/money/savingandinvesting/cathie-wood-feels-investors-pain-foresees-gains/
(Wall Street Journal) University of Southern California Sued Over Education-School Rankings Claims
https://www.wsj.com/articles/university-of-southern-california-sued-over-education-school-rankings-claims-11671561070
So what's Chip doing these days?
https://www.si.com/nfl/dolphins/news/miami-dolphins-december-4-2022-mailbag What happened with that BYJUs deal BTW?
Is 2U a "zombie company"?
About 300 companies or 13 percent... https://www.yahoo.com/now/huge-number-zombie-companies-drowning-120000776.html
2U: This Business Will Not Stand The Test Of Time
"I continue to hold the opinion that difficult macroeconomic times flush out the bad businesses and separate them from the good."
Guild Education still hiring
https://www.linkedin.com/jobs/view/3386855731
Academic Worker Strikes and Unionization Efforts
UC System Yale NYU New School University of Kansas University of New Mexico https://www.chronicle.com/article/biggest-campus-worker-strike-ever-brings-many-classes-to-a-halt-across-u-of-california
Maybe 2U can recruit al those desperate folks in Silicon Valley
Lots of desperate and newly unemployed people in Silicon Valley. Don't they sound like perfect targets?
University of California System Strike Authorization
Could a UC System affect 2U? And is there something 2U workers could learn from this? https://www.commondreams.org/news/2022/11/03/university-california-academic-workers-overwhelmingly-vote-strike
Coursera layoffs
https://blog.coursera.org/changes-to-the-coursera-team/
This place is looney and everybody knows it
Pros Can play tetris and solitaire every day and pretend like you're working - Upper management in the B2B Enterprise Sales org is oblivious - didn't work at all and still got paid monthly commission - If you want to waste your time, stay idle and... — read more
More losses...
Sounds like BS to me. But it is fascinating... https://seekingalpha.com/article/4554483-2u-inc-twou-q3-2022-earnings-call-transcript
2U is an exemplar of the College Meltdown
"The College Meltdown is occurring at all levels, but the schools hardest hit are for-profit colleges, community colleges, small colleges and regional universities. Now we even have elite schools managed by online program managers (OPMs) that have... — read more
It's no wonder Chip is distracted...
Looks like he's been busy founding a new company. A sign even he's ready to jump ship? https://proathletecommunity.com/about-pac/
OPMs not meeting expectations
"A survey of chief online learning officers indicates that online program management companies, or OPMs, aren’t meeting their expectations for marketing and recruitment, even though these are the services the college officials said they needed... — read more
What Chip said at the last co-----l party...
"CP, CEO and co-founder of 2U, acknowledged the tough market conditions. “I show up at co-----l parties right now, and people go, ‘How are you?’” he said. “Because, obviously, it’s not been pleasant lately. And we take that very seriously. Our... — read more
The State University College Meltdown is Worth Understanding
It's worse than people at 2U know... https://www.highereducationinquirer.org/2022/09/state-universities-and-college-meltdown.html
2U Lost 21% of value this week alone.
lol. anyone want to take bets when the stock gets delisted?