Everyone is very impressed that the EdTech players have now promised to self-regulate themselves to clean up their act . Interestingly, this move proves that they are now tacitly agreeing that they engaged in the predatory practice of mis-selling to boost their profits – a fact which has been well-documented by now.
They are now claiming that they can be trusted to regulate themselves in order to make sure that there are no misleading ads , and that parents won’t be lured into educational debt by using misleading high-pressure sales tactics. The reality is this is just a sham – and is being done to protect themselves from government regulations, so they can continue fleecing parents merrily.
They know that the Govt is now being compelled by the force of public opinion to curb these malpractices, which will force them to clean up their act and toe the line.
If we allow them to regulate themselves, this will be allowing the fox to guard the henhouse . After all, these are the guys who created the mess in the first place ! Why do we expect they will correct their ways – after all, it’s these tactics which allowed them to become unicorns in the first place, and they aren’t going to turn over a new leaf !
They are trying to evade the issue.
The truth is we need governmental regulation . After all, if the government passes rules to regulate schools and educational institutions , why do these online players think they are above the same rules ? Shouldn’t we provide a level playing field to ensure all students get a quality education – both online and in the real world ?
By offering to regulate themselves, they are actually saying that the government won’t be able to do as a good job as they will ! Isn’t this a slap in the face of the Education Minister ?
The promise of self-regulation is just a farce . They will bury these complaints, or take action against a select few to fool us that they are disciplining themselves. Transgressors will be allowed to get away with a fine or a slap on the wrist !
We need the Govt to provide regulation which has some teeth ! They will be forced to toe the line, because they know they will be legally liable if they cross it.
Their investors will crack the whip, and ensure that the mis-selling stops !
After all, this is the job of the Government – to protect citizens , so they aren’t taken for a ride by predatory unicorns, who care more about profits than purpose. And why should they fear regulation ? In fact , the good players will welcome this, as it creates a level playing field, which puts students first.
We elect a Govt to protect poor citizens from being taken for a ride. The Govt cannot outsource this vital job to an industry body !