Masters of Scale Build the right incentives, w/VIPKid’s Cindy Mi
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Dec 6, 2022 Cindy Mi, founder and CEO of VIPKid, has transformed online education by harnessing the power of incentives. She discusses how adaptive strategies and understanding stakeholder dynamics are crucial for business growth. Cindy shares her journey from a tutoring school to creating a global learning platform, highlighting the impact of positive reinforcement in education. She also addresses the challenges of balancing affordability and engagement while fostering community and support among educators and students during turbulent times.
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Early Discouragement
- Cindy Mi's math teacher tore up her science fiction book and kicked her out of class.
- This discouragement led her to disengage from math but ignited a passion for English.
English Learning Journey
- Cindy Mi learned English through audio cassettes and by assisting her uncle's tutoring business.
- She discovered that learning could be enjoyable through engagement and games.
Incentive Alignment
- Structure incentives by offering rewards after completing tasks.
- Align buyer and seller incentives; both parties should anticipate the reward.
