2U bankrupt 3 yrs after buying edX from Harvard, MIT for $800M

"edX — which continues to offer free, on-demand courses taught by faculty members at Harvard"

I like the idea, but I can't fathom how a company could reasonably assume they could do this as schools aren't meant to be profitable, they're meant to educate which is why they are generally in the public realm.

Discussion of the original announcement of the deal:

https://news.ycombinator.com/item?id=27674413