Venture capitalist Bill Gurley posted about a Korean company called Megastudy that provides online courses for students. The company sells each lesson for somewhere between $20-$120, and it shares a quarter of its revenue with its teachers. The business has reached a billion dollars and it has paid a teacher as much as $2M in a year.
Think about that for a minute: a school teacher that makes $2M.
Before the internet, the economics of a teacher were constrained to the size of their classroom. If I teach 25 kids in a class for a year, it limits the amount of money I can make. People bemoaned the millions that football players made in comparison, but each football player entertained millions of people through television, where teachers could only reach 25 at a time.
The internet has a remarkable ability to lift prior scale restraints. One teacher can now reach millions of students through the internet, and they can start making a football player's salary.
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