Euclid Analytics, a Palo-Alto based startup focused on providing tracking solutions to retailers, aims to provide critically valuable information regarding consumer interests. It has implemented a system that makes it possible for store managers across the country to track consumers on the micro level, by focusing on individual consumers. Euclid’s technology feeds off of ping signals given by individuals’ smartphones on a regular basis, and tracks each smartphone’s unique MAC addresses (that allow it to connect to a network). The tracking even goes down to the level of an individual store aisle and can note how long each consumer stays in a certain place.

With the overwhelming rate of adoptions for smartphones, such technology is slowly proving itself as invaluable to modern brick-and-mortar stores struggling to compete against online retailers chipping away at their profit margins. In fact, this technology has already been adopted by many familiar brands: Nordstrom, Home Depot–around 4,000 stores in all. The practical applications of this micro-level technology are enormous: when stores can see which aisles and locations are popular for consumers to hang around, they know which products to promote. Also, by knowing exactly how many customers come in during certain parts of the day, staffing can be adjusted accordingly.

The overall development is certainly very useful on the commercial end, but one must consider societal implications. Is this technology an overall good, considering the enormous costs of privacy linked to it? Big Brother truly is watching. It isn’t the government in this case, but the technology can easily be abused to be used by the government in tracking individuals. One article compared Euclid’s elaborate tracking system to ankle monitors used by prisons, but posed the question: “who needs ankle monitors if you have a smartphone?” This has led to much recent controversy over how far “targeted marketing” can go.

Privacy advocates have understandably raised numerous concerns, which politicians such as Senator Al Franken have taken on – he calls for more than the opt-out system Euclid offers for consumers who prefer to protect their privacy rights. Even so, Euclid has demonstrated commitment towards protecting privacy, although many remain skeptical. Franken notes that given the nature of the product, Americans can no longer expect “the standard of privacy (they) should be able to count on.”

The time is ripe for controversy; in an age where many are slowly ceding their privacy to large social media companies such as Facebook, one must ask how valuable this “standard of privacy” is. With our adoption of so many sharing-based social media sites, should privacy even be an expectation in this day and age? Given the rapid spread of Euclid’s technology, it appears that we haven’t even been given the chance to fully understand the question.

Photo Credit: Presidential Press and Information Office (Russia)

Tesla is an unconventional car company, one that has gained their edge through innovation that other U.S. auto manufacturers have traditionally lacked. Tesla’s CEO and cofounder is billionaire Elon Musk, who is also a  founder of PayPal and SpaceX. Musk has demonstrated that he is a visionary and is now determined to change the way we think about electric cars. The company’s first car was the Tesla Roadster, which boasted nearly 250-mile range per charge as well as performance unmatched by any other electric car. The Roadster also came equipped with a hefty price tag of $109,000.

Since discontinuing the Roadster, Tesla has strived to make cars that appeal to a larger consumer base. First for sale in 2012, the Tesla Model S is a four-door sedan with comparable performance to the pricey Roadster, but with a more reasonable base price of $70,000. The Model S has garnered quite a lot of recognition since its debut, including being named the 2013 Motor Trend Car of the Year. The Model S has surpassed both the Chevy Volt and the Nissan Leaf to become the best-selling electric car in the first quarter of this year. On top of that, the Tesla Model S recently received a 99 out of 100 on the Consumer Reports Test, making it the highest rated car ever by the magazine.

Tesla has also announced their next vehicle, one that is scheduled to come off the line in 2014. The Tesla Model X is a four-wheel drive crossover that can seat seven and sports falcon-wing rear doors that make it look more like a futuristic spaceship than an SUV. With the addition of the Model X, Tesla is looking to make electric cars a practical option for anyone who can afford one.

Tesla has also made headlines when they recently released their new warranty program. The company claims the best service and warranty program in the world for their Model S and may make some wonder why they would go to such lengths to do so. Tesla now offers a free valet service and loaner top-of-the-line Model S whenever your car needs service or repairs. And if you prefer your loaner car to your own, you can simply keep it. The price of the loaner car decreases one percent each month and one dollar per mile, ensuring that Tesla’s loaner cars don’t get too old. The new warranty also covers the battery nearly unconditionally. Any sort of neglect or ignorance by the owner with regard to battery upkeep is covered and Tesla will replace the broken battery at no charge. With the company’s new over-the-top warranty program, they hope to make owning an electric car absolutely worry-free.

Many comparisons have been drawn between Tesla and Apple, and it’s not hard to see why. Elon Musk possesses many of the rare imaginative qualities that Steve Jobs needed when he brought Apple back from the brink of failure to become the Silicon Valley giant that it is. Both companies offer high-end products while making their competitors look five years behind them. So could Tesla become the next Apple and put their high-end technology in the garages of the masses? All indicators are pointing to yes, but there are first some obstacles that the company needs to overcome, and they are well on their way.

Elon Musk is well aware that a major hurdle to the proliferation of electric vehicles is the lack of infrastructure. While you can find a gas station no more than five minutes away from nearly anywhere, there are very few stations where you can recharge your electric car. There are also very few mechanics and dealers that work with electric vehicles, causing owners to travel great distances to get their electric cars serviced. Even though Tesla offers an outstanding product, they are not able to build the necessary infrastructure on their own. Tesla needs to have the entire auto industry moving towards electric vehicles behind them. In order to accelerate this process, Tesla has been licensing out their technology to major automakers including Toyota and Mercedes. Not only does doing this further their goal of establishing an infrastructure for electric vehicles, but it also gives the company a reliable revenue stream that has allowed them to fund their extensive research and development.

As we witness Tesla truly make inroads into the auto industry, we are able to see how Silicon Valley is able to give Detroit a run for its money at its own game. Elon Musk envisions his company creating a car with a price point near $30,000 within the next three to four years while maintaining an impressive 25% profit margin. If this goal can be reached or even approached, Tesla will become one of the most recognizable brands on the road.

Photo Credit: Randy Chiu

On April 10^th, he spent the day at Northwestern talking to various students, culminating in a lecture in the McCormick Tribune Center at 4 PM. The advice he dispensed can be used to be successful in a number of competitive fields, not just journalism.

His lessons started with his undergraduate days at Michigan. In his first few months at the school, he received rejections from fraternities, from helping the football staff, and from helping the basketball staff. With nowhere left to turn, he decided to write for the newspaper. At Michigan, he applied to more jobs than he could count with continued rejection. He realized that he not only had to accept rejection as something that happens, but that sometimes it is the best thing that could happen to you.

The lessons about rejection leading to opportunity continued after he took a job with the Denver Post. He initially wanted to be the one to cover the Rockies, who at the time were a new expansion franchise. When he was given the news he wouldn’t be able to, he was crushed, but months later, he applied for the head sports writer job, because Woody Paige was slowly being phased out. He got the job, which proved to be a stepping stone for his time with the NFL Network.

Later in his career, Schefter realized the value of creating longstanding, professional relationships. When John Elway decided he was retiring in April 1999, he told Schefter first and told him not to spread the story because the Columbine shooting had occurred only a few days before. Elway wanted to give people time to grieve. Schefter could have jumpstarted his career had he broken the story. He didn’t break that story, but he gained Elway’s trust that day. Schefter is now the first person Elway, now an Executive VP with Broncos, turns to when the Hall of Famer has news to break.  While reporting about the New York Jets, he discovered that the Jets have an interesting process with free agents. The franchise asks the taxi drivers, custodians, and other people who interacted with free agents how the free agents treated them. The free agents who treated these people better always had a better success rate. He continuously tried to get the idea across that being a good person can do wonders for your career.

It isn’t easy to separate oneself from others in the workforce. When he was just starting out, Schefter would work weekends and holidays, because he knew he’d be able to get opportunities that weren’t avalible to him otherwise. Schefter realized this, and as a consequence continued to expand his abilities as he grew older. Originally a newspaper writer, Schefter tried radio and TV as an experiment to see if he’d like it. Ultimately, he ended up becoming a TV reporter because he opened himself up to new opportunities. Leaving the NFL Network for ESPN was likewise a case of being opportunistic, because when it was time for a new contract, Schefter, like many of the football players he covers, was insulted by the low take-it-or-leave-it offer from the NFL Network.

According to Schefter, you have to continue to put yourself out there in the face of rejection, or you might just miss the opportunity that follows.

Three Up

Tesla Motors (TSLA)

Tesla’s stock jumped over 36% last week after the company reported their first every profit in their 10-year history. Last week’s performance puts Tesla’s stock up nearly 120% on the year.

Barnes & Noble, Inc. (BKS)

Barnes & Noble gained on Thursday with the news that they are breaking into the tablet game. The Nook, Barnes & Noble’s e-reader, will now have access to the Google Play Store, making it nearly a fully functional Android tablet.

Electronic Arts (EA)

Shares of EA surged over 17% on Wednesday after a strong earnings report. This gain propelled the stock to a new 52-week high.

Three Down

Microsoft Corporation (MSFT)

Microsoft’s stock declined last week after posting a solid year thus far. Microsoft announced that they have agreed to guarantee revenue for ads appearing on Yahoo websites. Also, the EU agreed this week to hear Cisco System’s appeal against Microsoft’s acquisition of Skype Technologies.

McDonald’s Corporation (MCD)

MacDonald’s share price fell after disappointing April sales figures came out. Even though sales were up 0.7% in the US, global revenue fell 0.6% in April.

Cognizant Technology Solutions Corp. (CTSH)

Shares of the outsourcing company fell on Friday after their earnings report left investors wanting.

Photo Credit: Lindsay Pollak

Early last month, a group of venture capitalists, angel investors, and tech industry leaders, led by Facebook founder Mark Zuckerberg and his college roommate Joe Green, formed FWD.us.  The group, pronounced “Forward U.S.,” aims to lobby for their version of immigration and education reforms, and facilitate scientific breakthroughs with broad public benefits.  The non-partisan group is attempting to build a bipartisan community in support of their proposed policies. There appears to be plenty of star power to do so. In addition to Zuckerberg, the founders of Microsoft (Bill Gates), Napster (Sean Parker), LinkedIn (Reid Hoffman), and Dropbox (Drew Houston) are also founding members of FWD.US.

The group’s concern with U.S. immigration policy is based on the idea of a new knowledge economy.  In an op-ed written last month in the Washington Post, Zuckerberg, who has become the face of the group, claimed that today’s economy “is based on knowledge and ideas – resources that are renewable and available to everyone.”  Gone are the days where natural resources, manual labor, and industrial machines are the main engines of economic opportunity; innovation is the driving force behind the modern economy, and at the core of innovation are ideas.

The problem is that, according to Zuckerberg, the United States isn’t doing a good enough job in attracting the most talented and hard working people necessary to lead this new world economy.  “Why,” he asks, “do we kick out more than 40 percent of math and science graduate students who are not U.S. citizens after educating them? Why don’t we let entrepreneurs move here when they have what it takes to start companies that will create even more jobs?”

Many of the most valuable thinkers in the Silicon Valley are foreign born.  For example, Ruchi Sanghvi, who was the first female engineer hired by Facebook and is currently the Vice President of Operations for the file hosting service Dropbox, was born in India.  Ukrainian born Max Levchin founded PayPal and the personal media-sharing service Slide.

Among the reforms that FWD.us is advocating for, according to its website, are improved border security and an immigration policy that is biased in favor of attracting extremely talented and hard working people. They also look to implement a path to citizenship for current and prospective immigrants to the United States, including those present in the United States illegally.

The question remains whether or not this group of highly intelligent, talented, and motivated knowledge economy leaders can exercise enough influence to see their efforts realized. The knowledge economy idea advanced by Zuckerberg is clearly the direction that the country is moving in.  But will this group – made up of seemingly political laymen – succeed in their attempts?  It certainly helps that FWD.us’s president, Joe Green, worked for 2004 Democratic presidential nominee John Kerry, after turning down Zuckerberg’s offer to move to Silicon Valley and join Facebook in the company’s early stages.

That being said, it has hardly been smooth sailing since the inception of FWD.us. Soon after the group’s launch, a memo leaked to Politico that indicated that the group’s technology executives would use their companies and their control over distribution networks to support the group’s causes.  Green quickly backtracked, but the leak raised eyebrows among those who have long considered the social media services they use to be insulated from politics.

The high-tech entrepreneurs behind FWD.us may, for the most part, lack political experience.  But what they lack in political clout, they make up for in their bright minds, strong wills, and bountiful resources.  The knowledge economy is the future – and Washington, D.C. is being forced to take notice.

Earlier on that day, the company reported a 51 percent rise in Q1 profits. Berkshire netted $4.89 billion (about $2,977 per Class A share), up from the previous year’s $3.25 billion. Reporters and shareholders asked Buffett questions ranging from Berkshire’s specific operation protocol to broader opinions on the global economy.

Buffett offered plenty of advice on investing and other important issues throughout the weekend but was successfully able to dodge tough questions about succession at the company. No new information on the succession front was revealed but high ranking officials guaranteed that Berkshire’s deeply embedded culture would endure regardless of who was in command.

An interesting array of questions was asked during the day-long meeting. In terms of recent portfolio additions, many were curious why Berkshire has endeavored on a newspaper purchasing spree and continues to be confident in IBM. To respond to the first question, Buffett insisted the papers they have purchased will supply “a decent rate of return.” Similarly, in terms of IBM, Buffett said that despite not buying more shares with their recent earnings miss, he is still confident in the company’s position because of robust defensive protections.

Later in the day, the focus shifted towards the tricky succession issue. Buffett was asked about Ajit Jain, head of Berkshire’s reinsurance operations, as a possible successor but quickly dodged the question and changed topics. Additionally, a proposal about possible company decentralization was shot down as Buffett said: “breaking [Berkshire Hathaway] up into several companies, as far as I’m concerned, would produce a poorer result.”

The day of questioning ended around 5 PM and Buffett left each audience member with a piece of advice: “you just have to avoid getting excited when other people are excited.” Overall, it was a positive and productive shareholders meeting for Berkshire Hathaway as it looks to grow to even greater heights.

I got the chance to chat with Roman about the release of his new book, Man 2.0 Engineering the Alpha, and get a little insight into how he managed to build his online empire.

I got John’s attention with a tweet. Almost as a joke, I tweeted at a friend wondering aloud how often I’d have to badger the recent New York Times best-selling author to get an interview. As it turns out, once was enough. Within a few minutes, Roman replied, agreeing to an interview. This, by the way, was 2 days after his first-ever book release.

It’s not like the guy is starving for publicity. In the weeks leading up to and following his book release, Roman has been a ubiquitous presence in the media, appearing on television, in newspapers, leading magazines on fitness and business, you name it. He has written for Ask Men, Huffington Post, Men’s Health, Fast Company, The New York Times, and more. He has appeared on ABC and Good Morning America. So, why did Roman agree to an interview with some college kid at NBR?

It’s all about the image. Roman has spent years developing his online persona, and it is this persona—his voice—that he attributes his success to. He is charismatic, funny, and above all, relatable. He sells bodybuilding programs while proclaiming a love for Star Wars and Dungeons and Dragons. He speaks at length about his journey from a bookish, out of shape nerd to a fitness model and entrepreneur. When word got around that Roman was a playboy, he encouraged the rumors: Sex sells, and his credibility as a life and fitness coach was bolstered further. People listen to the man they want to emulate, and a lot of young guys want to be a rich playboy with a twelve pack. But he’s also a nice guy, a man of the people. In agreeing to an interview with lil ole me, a little more credibility is lent to the fact that this is a man untouched by fame and fortune, a down to earth guy you can’t help but like. And there’s the key: it’s this likability, his sense of humor, his affable guise; these are the things that allow him to charge upwards of $50 for a .pdf file of workout tips, and with repeat customers to boot, when in theory any one of his programs should be good enough on it’s own.

And that’s what’s so different about his new book. It’s not just a fitness book; it’s designed to make you a better man (Ladies, the next book is all about you, don’t worry) in terms of physique, lifestyle, sex, everything… But unlike most self-help or programming books, it really reads like a fun, grabbing narrative. Roman is a gifted writer, and if he wasn’t on this great path to stardom, he sees himself as a high school English teacher, coaching wrestling, and moonlighting as a science fiction or fantasy writer. He’s a huge fan of Game of Thrones (but hell, who isn’t these days?), and his favorite character is Jamie Lannister. We nerded out together for a few minutes over or mutual love of the series, and I couldn’t help but feel like I was just talking to an old friend. He laments that fiction, for now, must be put on the backburner; his typecast as “that fitness guy” would unfortunately overshadow other ventures. John, if you’re reading this… If Arnold can be the Terminator and the Governator, I think you should be alright.

The fact of the matter is, like the multitalented Schwarzenegger, the man really does wear many hats. While he is best known as “that fitness guy” online, the Roman Empire (sorry bud, I think that name’s taken) consists of so much more. He is an angel investor that advises over a dozen companies, he does personal financial and business management consulting, he’s working on a screenplay, and he tried out stripping once, just for fun. He got here on his own merits; he attended a seminar with famed author Tim Ferriss on how to publish a book, and then did just that, in style: “on the shoulders of giants”, using all the connections he had acquired in his time in New York City, John partnered with Adam Bornstein (having a co-author who has already released books in the field helped a lot, says John), and simply mimicked what worked for other people to get his deal done. He borrowed techniques from Tim, Tucker Max, and celebrities, using his credibility from his online “guru” presence to his advantage, and treated his book pitch much like a startup’s business plan. It worked: he attracted a lot of attention, turned down several glowing offers, and finally picked up a seven-figure, 2 book deal. Not only that, he got Arnold Schwarzenegger, one of the biggest fitness celebrities in the world, to write the introduction. John is a man we can all learn from.

And he’s learned from some of the best. In true geek fashion, his heroes are Nikola Tesla and Thomas Jefferson (for their ingenuity and quirky behavior), Captain Kirk (for his reluctant hero characteristics), and, of course, the man himself, Schwarzenegger.  He certainly shares characteristics with all three; John is not your typical meathead.  I got to chat with him a number of subjects, one of which being the controversial topic of steroids. I believe John has the best opinion in the industry on the subject—they are not necessary for incredible aesthetics, but are certainly a fascinating medical phenomenon that warrant more research and less of a stigma. In addition, they are extremely prevalent in today’s world of professional sports. Like it or not, it’s almost dangerous not to be on some sort of drug in most pro sports, because the other guy definitely will be, and he’s gonna be bigger, faster, and stronger than the natural you. This means you’re in for a world of hurt. It’s also a lot easier to avoid testing than most people think. While steroids are dangerous when used without careful medical assistance, John believes (and hopes) the medical world will embrace the potentiality of anabolics.

In another meathead-defying move, John takes a rather academic stance on the subject of alcohol. We got to talking about the recommendations he would make to college-aged men (rule number one: get some sleep, guys. Sleeping less than 6 hours on average can lower testosterone a lot), and when alcohol came up, he had a few intriguing thoughts on the matter. We all know we should drink less, but c’mon, we’re in college, so that’s a lost cause. Roman observed that almost every civilization in history has figured out fermentation, and that alcohol takes a large part in the development of each civilization. As the great William Faulkner once said, “civilization began with fermentation.” Roman pointed out that perhaps the reason behind the formation of life-long friendships in college can be attributed to these people being your drinking buddies; the euphoric state you get from drinking is thus associated with your bros, prompting chemical reactions to form bonds that last a lifetime. Sure, a little cynical, but still pretty cool.

John Romaniello is the most modern manifestation of the long-held American ideal of self-reliance and rugged individualism. In today’s day in age, where none of us are content working for other people and where the Internet has made it easier than ever to be your own boss, Roman has carved out his own space in the information economy. Startups, fitness; these are the buzzwords of the year. Roman is riding the wave, capitalizing on the trends of society, and doing what he loves.

History remembers 1871 for the Great Chicago Fire, but the lasting legacy was the reconstruction that followed when innovators, architects and entrepreneurs flocked to the city. The city was rebuilt to be bigger and better, having been quickly transformed into the focal point of business that it is today.

With a similar vision, the Chicagoland Entrepreneurial Center (CEC), with the support of venture capitalist J.B. Pritzker and a $2.3 million state grant from the 2009 Illinois Jobs Now! Capital plan, created 1871, a center where digital designers, engineers and entrepreneurs can come to develop their businesses.

1871 is the Chicagoland Entrepreneurial Center’s attempt to consolidate Chicago’s fragmented entrepreneurial ecosystem. From the space’s interior design to a wide range of programming hosted there, 1871′s mission is to help startups grow into successful companies, and keeping them in Chicago after they have done so.

1871 is located on the twelfth floor of the Merchandise Mart off of Michigan Avenue. The 50,000 square foot space is open with short and long desks that are arranged to mimic the streets of Chicago and a wavy, blue wall that represents the river.

There is a large open space where you can bounce your ideas off of individuals from other 1871 startups. At Intelligentsia, a coffee shop startup at 1871 based on the idea of fostering “an environment steeped in educating and humility,” you may find yourself having a cup of coffee with legendary startup founders such as Chuck Templeton who come to the center to share their experience and knowledge to new startups.

When I visited 1871 a few weeks ago, Neal Sales-Griffin, co-founder and CEO of Starter League (also located at 1871) and NU alum, noted that the one disadvantage to this open space was becoming distracted by the work that the brilliant individuals that surround you were doing. But the 1871 interior design team recognized that this might be a problem and thus also created conference rooms and individual office spaces for startups to rent so that they can have a space that allows them to fully concentrate on their work.

The Economic Impact of 1871

This past month, 1871 celebrated its one-year anniversary. The 1871 team asked Lab42 to analyze the economic impact of the startup center in its first twelve months. The results bring to mind the awe that spectators must have felt when observing the success of the Great Chicago Reconstruction over a century ago.

Chicago – an ideal startup ecosystem

In an interview with the Huffington Post, Kevin Willer, President and CEO of the CEC, highlighted three forms of capital that are required for a startup ecosystem to thrive:
human, financial, and social.

Chicago has all three.

Chicago is rich in human capital. Willer points out that “in terms of human capital we have two of the top five business schools, five renowned design schools, and access to several universities with leading computer sciences programs.”

Furthermore, financial capital is abundant in Chicago. “Capital follows great opportunity and we’ve been seeing this over the past two years. Local VC firms are keeping investments local and national VC firms are starting to come [to Chicago] looking for deals. We’re talking about rather sizeable investments ranging from 10M to 40M. Additionally, Chicago has an extremely supportive ‘Angel’ community, which provides ample support to our seed stage companies.”

Chicago has great social capital as well with the influence of Chicago-based Fortune 500 companies such as Walgreens, Allstate, United Arlines and JPMorgan Chase. The PwC Cities of Opportunity 2012 report ranked Chicago ranked first in intellectual capital and innovation, and secured second in economic clout, ease of doing business and technological readiness among U.S. cities.

So why has Chicago not become a startup hub in the past?

“It’s not a problem of talent,” says Willer, “It’s that we are tasked with keeping them [in Chicago],” instead of leaving for other cities like the Silicon Valley.

Thanks to the opportunity and resources that 1871 is creating, the issue of losing talent is rapidly diminishing. This year, 1871 received 900 startup applications for the 225 spots in its center.

Chicago may become a leading city of opportunity as a startup ecosystem, adding another top ranking to its already long list of accomplishments.

Photo Credit : NBR

Gary Kremen (McCormick, ’85), the founder of Match.com, kicked-off the event with an hour long keynote. Kremen was then followed by a first round of breakout sessions: leading entrepreneurs spoke to what defines a good value proposition, how to negotiate the proper channels necessary for winning consumers, and how to cultivate customer relationships once you have them. After a short break, there were three more panels, on customer segments, revenue streams, and key partners.

Lunch afforded conference goers the opportunity to go to either a roundtable discussion with area VCs, or participate in a clinic that delineated the components of a Business Model Canvas, a concept developed by Steve Blank.

Those convening for the afternoon session were treated to a second keynote speaker, Nikhil Sethi (’10). Sethi developed the advertising platform Adaptly as a Northwestern senior, a company that has since raised millions in VC and works with partners like Kraft and Pepsi. Sethi’s speech was thus the appropriate segue for the day’s capstone event, the final round of the Northwestern Venture Challenge.

Six Northwestern born and bred startups gave twenty-minute presentations with the hope of winning part of the $34,000 in prize money. JiveHealth, the winners of the 2013 Partnership for a Healthier America End Childhood Obesity Innovation Challenge, captured the top prize. JiveHealth was followed in the voting by LicenseBuddy, a team that will be incubated in the same DreamIt Ventures program that produced Sethi’s Adaptly. Centripid Medical and Chisel tied for third.

Top-tier universities, including MIT, Stanford, and Northwestern, are teaming up with MOOC platform suppliers to create virtual classrooms of unlimited size that can educate people on a massive scale. Others, like San Jose State, are offering actual collegiate credit for the completion of selected massive open online courses.

The courses are broken down into a series of video lectures that sometimes are as short as two minutes. The videos are semi-interactive in that the instructor periodically directs the student to pause to review the material, while at other times she might pose a question and then leave time for the students to complete it. These videos are supplemented by academic content posted on the course site by the instructor. Weekly homework assignments are turned in and depending on the course, the assignments are graded by either a computer or fellow classmates. The platforms provide ways for students to interact with other classmates, whether it be through video chat or file sharing. Students are also encouraged to meet up with other classmates who live in the same vicinity.

The various platform providers and partner universities are still working out the details of the business model for the MOOC. They will most likely use a ‘freemium’ business model, in which users have access to basic content at no cost, with premium services coming at a fee. Sitting for the final exam and get a certificate of completion, for example, will likely be a part of the premium package. Currently, fees for exams and certificates range from $90-$300 which is still far cheaper than a standard university education.

There is also the fact that MOOCs could provide the infrastructure and networks for professionals to continue their education and share ideas. Proponents are particularly excited about the potential for MOOCs to produce qualified k-12 educators. Coursera has announced that it will provide a free training program for teachers in k-12 schools that will focus on building classroom and teaching skills. Providing a space for teachers of even the poorest districts to come together and share thoughts on engaging students could invigorate many schools.

Obviously, there is an important part of the college education that a computer screen cannot provide. The social aspect is huge. Students need the opportunity to fine-tune social skills and learn how to effectively work in groups. The MOOC motto of “at your own pace” does not foster discipline and nor does it provide the experience of working under pressure. That is something only mandatory 10am discussion sections or 3 midterms in 2 days can give.

MOOCs give millions of people the opportunity to learn, acquire technical skills, and develop critical thinking. They teach students the same theories of finance, economics, philosophy. Students read and analyze the same literature. they learn the same languages. But, what they don’t get, is a college degree.

Especially in the light of the rise of MOOCs, the question of accreditation has become concern for the educational system. It is possible to learn the same material in a MOOC with equivalent assessments for $300, but to get the accreditation that employers and universities will recognize, students have to pay on average $1,700 a course at a standard university. For those keeping score at home, that means the price tag for a single college credit is $1,400. Seems kind of steep, until you consider that most students take classes so that at the end of their 4 years, they can walk across the stage and grab that ever elusive diploma [cover] which, by the power invested in the university, deems them educated.

Photo Credit: wwarby