The Capital Stack Matthew Pittinsky of Parchment and Blackboard on Revolutionizing Educational Technology and Building Networks
In this episode, David Paul interviews Matthew Pittinsky, the founder of Blackboard and CEO of Parchment, about his journey in the educational technology industry. They discuss the genesis of Blackboard and its role in revolutionizing the learning management system (LMS) industry. They also explore the shift from on-premises software to cloud-based solutions and the challenges faced in building a networked system of record. Pittinsky shares his insights on the current pain points in education and the value of a college degree. The conversation concludes with a discussion of favorite books and closing remarks.
Takeaways
- Blackboard revolutionized the LMS industry by creating a front office system for universities that facilitated instruction and learning.
- The shift to cloud-based solutions, exemplified by Instructure's Canvas LMS, disrupted Blackboard's on-premises model.
- Parchment was founded to address the need for a networked system of record that allows learners to collect and manage their academic and professional credentials.
- The education industry faces challenges such as fragmented technology ecosystems, math achievement gaps, teacher retention, and the perception of the value of a college degree.
Chapters
03:14 The Genesis of Blackboard
08:00 The Shift to the Cloud
12:05 The Birth of Parchment
15:29 Building a Networked System of Record
20:17 Adoption Challenges and Cultural Battles
21:47 The Vision of Parchment
23:34 Current Pain Points in Education
26:18 Is College Worth It?
29:55 Favorite Books