Education: How Societies Create Wealth
Mar 18th 2013 5:17PM
Updated Mar 18th 2013 5:20PM
Ronald Packard, CEO and founder of K12, explains his belief that investing in education is an investment in society's future wealth and how that inspired the creation of K12.
The Motley Fool's chief investment officer has selected his No. 1 stock for the next year. Find out which stock it is in the brand-new free report: "The Motley Fool's Top Stock for 2013." Just click here to access the report and find out the name of this under-the-radar company.
Matt Argersinger: Well, I'm joined by Ronald Packard today from K12. Thanks for spending some time with The Motley Fool.
Ronald Packard: It's a pleasure to be here.
Matt: Let's go back real quick. It's mid- to late-'90s. Up until that point, your experience is mostly consulting [in] investment banking. I want to know about the lightbulb that went off. Was it always a passion for education or was it kind of you saw the Internet and you saw an opportunity and this seemed like [unclear].
Packard: I think it was always a passion for education. I really believe it's the way to [unclear] create wealth is to have an educated workforce and populations, so I was back in the '90s, father of a six-year-old girl, who I just sat down one day to work on her math with her and didn't think she was getting enough math in a good public school. And I thought, you know, I'll just go online and try to buy a more advanced math course and teach her what the best schools in the world are doing -- being a mathematics/technology kind of guy myself.
And I went online. What I found was lots of supplemental sites but nowhere to say this is first grade math, teach her this. If she passes this test, she's on par with anyone in the world. So I said you know what? Maybe if I built one like that, others may want that. And the light went on. There's no reason with the Internet today that you couldn't have a complete school online. And I wrote a business plan, raised funding, and started the company.
The article Education: How Societies Create Wealth originally appeared on Fool.com.Fool contributor Matthew Argersinger has no position in any stocks mentioned. The Motley Fool recommends K12. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.