Nov 15, 2017

Harvard professor predicts half of U.S. colleges will soon be bankrupt

Alayna Treene

Photo: Matt Rourke / AP

Harvard Business School professor Clayton Christensen, known for his theory of disruptive innovation, predicts that half of the 4,000-plus colleges in the U.S. will be bankrupt in 10 to 15 years, victims of a massive migration to online education, per CNBC.

Why it matters: The shift to digital technology will shake up education as it has most industries, Christensen says, and probably undermine the business models of traditional institutions. He is not alone. The Department of Education and Moody's Investors Service project have projected that closure rates of small colleges and universities will triple and mergers double in the next few years.

Go deeper

Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 649,904 — Total deaths: 30,249 — Total recoveries: 137,319.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 4 p.m. ET: 116,505 — Total deaths: 1,891 — Total recoveries: 921.
  3. Federal government latest: President Trump is considering a quarantine on New York, parts of New Jersey and Connecticut. He signed a $2 trillion stimulus bill to give businesses and U.S. workers financial relief.
  4. State updates: Alaska is latest state to issue a stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month and has moved its presidential primary to June 23. Some Midwestern swing voters that supported Trump's handling of the virus less than two weeks ago are now balking at his call for the U.S. to be "opened up" by Easter.
  5. World updates: In Spain, over 1,400 people were confirmed dead between Thursday to Saturday.
  6. 🚀 Space updates: OneWeb filed for bankruptcy amid the novel coronavirus pandemic.
  7. Hollywood: Tom Hanks and Rita Wilson return to U.S. after being treated for coronavirus
  8. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Keep ReadingArrowUpdated 15 mins ago - Politics & Policy
Axios

Coronavirus updates: Italy reports 889 deaths since Friday

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Italy has reported 889 new deaths since Friday. The country has the highest death count from the novel coronavirus.

The big picture: The U.S. leads the world in confirmed coronavirus cases, as the number of global cases nears 650,000. Governments around the world are trying to curb the medical and financial fallout of COVID-19, as infections surge across Europe and the U.S.

Go deeperArrowUpdated 1 hour ago - Health
Rebecca Falconer, Orion Rummler, Marisa Fernandez

Trump weighs quarantine of New York, New Jersey and Connecticut

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

President Trump said on Saturday he is considering a "short term" quarantine of New York, New Jersey and parts of Connecticut — states that have already taken steps to quarantine residents and promote social distancing.

The big picture: With 112,000 people infected, the U.S. has the most COVID-19 cases in the world, exceeding China and Italy, per data from Johns Hopkins. A second wave of American cities, including Boston, Detroit, New Orleans and Philadelphia, are reporting influxes of cases.

Go deeperArrowUpdated 2 hours ago - Health