YouSaid · the spoken record

Chip Paucek

lines on the record: 103
first: 2018-10-13
most recent: 2018-10-13
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“We're starting to resonate And I guess I would argue that it's early days. But it's a huge opportunity because we just need more access to this kind of stuff, not less.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“They will. No, no, no. They will. But I guess it's interesting as our company becomes more notable. So Valerie Jarrett joined our board. When she did, she said, you know, you haven't heard of this company, but you soon will. I mean, we feel like we're starting to resonate.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“I will not do it. Anyway, this was great talking. It was a really interesting discussion of where it's going because you're right, it has changed so substantively in terms from the beginning. But it is also something.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“I would say in general we believe that that's more good for our business than bad Puts a lot of wind at our back as online ed gets more accepted. Just once again, online education people don't think is any good. Over time, as it becomes more obvious to people, it'll make our job marketing for our university partners easier. There will be some competition, but the market is so big. Like, I feel like where to you is right now is we're Amazon in the stage where they were adding the tabs.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Kind of programming more broadly And does that affect your business? Because if all these individually all, because eventually you think about a lot of internet things before it was done by a lot of people, then everyone just had it in-house.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Well, Kaplan way back was test prep and then over time got into becoming a for profit university. And so, what I think is fascinating is where the space is going, having a state flagship. Purchase a former for profit and offer that kind of programming more broadly, tells you where the world's going.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“It's sort of a notable moment because what you have is you have a major state flagship embracing what would have been and still is somewhat controversial 10 years ago, Kaplan was pretty controversial, but Kaplan is trying to educate a much broader, by the way.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“So, finishing up, just I want to talk about the broader line, finishing up when you think about online education, you said there's going to be more, is it going to, what do you think the impact will have is that more people are educated or that people don't go to colleges?”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“The physician assistant program is pretty groundbreaking. You know, you wouldn't think of speech pathology or the doctor of physical therapy. That one's probably pretty interesting for an online program. Our data science program at Berkeley was literally the first of its kind. No one had ever done data science. And that particular dean, she's incredible. She basically pounded me to do it. We didn't want to do it at first. This is way before sort of data was hot.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“They won't get a job anyway. They won't get a job doing that. So we're worried, even though there's a lot of people that really want it.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“So, you know, we've talked a lot about creative writing and haven't done it because we worry that even though there's demand for it, we're worried that somebody”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“I mean, I like it enough that if you think about it, it's kind of nuts that I actually did the NBA and I got a lot out of it, I will tell you. Even though we were public through most of it, like.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“I did one of those. I actually took a train up to Philadelphia when I worked to the Washington Post on accounting, an accounting course, and it helped me catch a lot of terrible internet companies. Do you want to take our blockchain course? Not today. But maybe, maybe. I don't like school.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Now, we bought a company last year in Cape Town, South Africa, so we now have 500 employees in Cape Town South Africa that offered something like to you, but instead of for a degree, it's for a short course. And at Recode, Eric Rosenbach taught one of the courses, Harvard Cybersecurity, made me particularly proud when you got on stage and said that was one of the coolest presentations we've seen. So, the short course, you're talking about skills attainment for truly a worldwide audience sort of stand out for the crap from the crowd, get a certificate. Sure.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Mostly the US. So the interesting thing when I tell you why should you pick up your life, quit your job, and move to attend, a lesson learned to you from our early days. We spent a lot of capital doing international marketing for our schools. The value prop for an international student is not quite as aligned. Why? Because if you kind of want to come here. If you can afford it, you can get in and you can speak enough English. You typically want to come here for some time period”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“And he really wanted to do it sort of. Now, the thing about the old fashioned way, you're still opening the old fashioned way to a ton of people that could never experience it. So that's hugely powerful. But”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“We do a lot of tech enable video So, like, you're in front of a light board. So, like, you know, they're drawn on it, and they're like you're illustrating a lot of things. And in accounting, that was an accounting course. In the accounting course, that's super useful because you're moving stuff between tea accounts and.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“But really right now, like, I mean, I'll give you an interesting lesson from even with our current technology. There's one particular professor in the Chapel Hill program That really we kept trying to push to do some of the newer things. And he kept sort of insisting on wanting to do it the way that he's comfortable. And so we end up filming him and letting him do his thing. And even though it has less of fewer bells and whistles, it's like the second highest-rated course. Why? Because he's brilliant.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“No, definitively over time, like VR, AR, like you're talking about, you will have an impact, particularly in the physical disciplines.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“I read the first one That's some crazy stuff. You know what I mean? This kind of looks like It's crazy. And we'll eventually see the end of it in another seven years”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“You know, and I'm not even a golfer Mobile, mobile, mobile. Mobile, mobile, mobile. And really high, like a single two U course has more video content than a season of Game of Thrones. Right.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Education right now. Yeah, another long putt. All right. Okay. You're making golf references everywhere we go. You know, and I'm not even a golfer. Don't birdie at me. Okay, so what technologies is just mobile, right? Mobile, mobile, mobile. Just mobile, mobile mobile. Live.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“No, it was in Hong Kong. It was in Hong Kong. I was in Hong Kong with my son And I was forced to go. We have an officer. But it was interesting. It was interesting. I'm always interested, I'm more interested in VR than other people are because I think it actually, I just played a game just a recent game. Now, those things that are in malls now, they're quite fun.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“That's the key. I think for education, it's not today, it's not a viable use case. No, a company like 2U, as we get more successful, will be able to invest before others will. But I would say, you know, it's not like VR today has been wildly successful for anybody. Right. And so that you're not going to see a hugely successful education use case to start it.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Right, that they will have a job. They've worked there. That makes sense. But I want to get back to VR and I want to get off beard yet and haptics and things like that. There's obviously all that going on. How far away is that?”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“There you go. Midwife, speech. Now you know the cool about that What's cool about that is that think about the impact on the local community when they graduate.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, but today, you know, the reality is having great instruction and having great faculty and then going physically and doing it is a big part of what we do.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Hyper engross. But the important thing is creating that unit. That's something that over time we do believe new technology will make it better and better and better. But this isn't a story about”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Well, our physician assistant program, which was the first ever online physician assistant programs with Yale. So we built the cadaver unit. So I could tell you all kinds of things about cadavers, by the way. We had to deal with cadavers.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“You know, so it's tough, like the number of VR startups in education that are dead now. Education is not the place where you can reach the mass consumer that you need to sort of populate. It makes total sense, doesn't.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Now, we did a really interesting deal with, you might have seen something about with WeWork Where every student in every two you back program can go to any we work on the planet at no cost? So we did sort of breakthrough opportunity. That's a place to go”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Well, the phones, their iPads. iPads, yeah. So mobile's huge because we have a mobile workforce. So, like, you know, the.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“We try to focus only on those? As a company, we have choices as to where we can put our capital. And so we try to put our capital in places where”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, or think about the Warden Executive Program is one way to think about it. Like our Berkeley data science program or our Harvard Business Analytics program, those are all really good. But there's also a huge shortage of speech pathologists in the world. Like when my youngest...”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Is, but you know, we do believe that there's a way to accomplish that in the same way that we've done some of the graduate programs.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“I'm just going to be a Harvard, right? Yeah, no, actually, so I'm One of the things that's tricky about it is the world can't pick up their life and go to Stanford. That's not most people's experience. Most people, most of undergrad, to be clear, is not the person going to Georgetown or the person going to Stanford.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“One of the things we feel like we're bringing to the table is sustainability is part of the ecosystem is important. Like my company's doing well, the university's doing well. Why? Student wins. University wins. I win. It's pretty simple. So like. If the student doesn't win, nobody wins. But I also have to make sure that the university has a strong, sustainable operation going. So, from a cost standpoint, we actually do think that long term, we can have a really significant impact both on the overall student cost and on the actual cost of tuition.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“You and I are sitting here saying we couldn't get into Georgetown or GW today. Schools that weren't aspirational when I was growing up are now completely aspirational. There's so much worldwide demand for those schools. Now, if you're a small, unbranded private liberal arts college somewhere in the country that no one's ever heard of, you can't be charging the kind of prices you are have that be sustainable.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so I personally believe that those, the latter part is overreported. And if you look at the top 500 schools, Generally speaking, Tons of demand for the undergrad level.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“I feel Right, yeah, you need some big, bold ideas. All right, so the idea is that you get your degree, like the people will not go to what happens to colleges, because like one of the issues I know with colleges, even though there's increasingly hard to get into colleges, and yet a lot of, it's only a small group of them that it's increasingly hard to get in, and then there's a vast amount of companies.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“But what's interesting there is that they're trying to go after a big idea. And I feel like EdTech's been plagued by too many people doing small things.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“And we started the company. Well, we thought it was really a bad idea in the beginning. And Chapel Hill was like, nope, we're going to do it. And we were like, no, you can't do that. You're taking away the one thing that we're selling, which is that you don't have to go. We were totally wrong”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Well, more than that, like, I'm a tar heel. I'm not just, I didn't just go to the school. An example of something that we do in these programs is we do these immersions where students go physically.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Well, you can get, I mean, if you can get everything that you would have gotten in the campus program, including the affiliation with the school, which is something I feel like gets left out a lot.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“I just take them all. They're making me buy another PS, whatever. PS4, yeah. I don't know. I'm not doing it. I'm declining. I'm declining. When you tell them, why don't you vote at the old one? No, no, no. Anyway, let's get back to you. So there was all these different kinds, but they're not any one thing. What do you think is emerging? Like the idea of a degree system.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“So it's very intense technical training. And the IPO had like four weeks ago. So, what's interesting about EdTech is that one of the things that's notable about our IPO, not to switch to that, but is that, first of all Most for profit education hadn't been successful, and there was really nothing like us on the market. And Wall Street likes familiarity. So, our IPO was like, we're almost like the anti unicorn. Like, in some ways, I raised $102 million of venture capital. My Series D post money was $280 million. Our IPO was half a billion. We didn't get to big numbers until well into our public journey, so it's a much more traditional story.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“I heard of like Ud A company that just went public about a month ago that's run by a very good friend of mine called PluralCite.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“He's just taking horses That's right. Really was what it was. With asynchronous interaction or interaction through forums or interaction with all of the people that were online taking the course, but not personal interaction.”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Well, it's more that you're offering something with, it's not just lifelong learning. Like you're actually offering the real degree or a certificate. Having achieved”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT
“Did themselves, right? And then there were companies like Coursera or FutureLearn that offered massive open online courses as companies. And now those companies in some ways are trying to figure out how to turn into two”
2018-10-13 · Decoder with Nilay Patel · Recode Decode: 2U CEO Chip Paucek · IDENTIFIED FROM THE TRANSCRIPT