Ask HN: E-learning startup and blackboard failure

After being linked to this thread [link at bottom] on reddit which describes many college/university students anger at how bad the "blackboard e-learning" suite is I started to think about my experience with blackboard at my university. If you haven't used it, imagine web appplications from the late 90's!

This got me thinking, there are no 'really' good contenders in the e-learning market, of course blackboard has a few competitors in the open source and propietary markets but none of them are a great deal better.

I'm pretty sure me and a couple of guys from my comp sci school could create something significantly better than the current market leader (blackboard) within the space of 3 months (summer holiday).

Unless we go all out and run this like a startup business it will obviously go nowhere, do you think this is something we should run with or would getting other schools to use it be to much of an uphill battle?

http://www.reddit.com/r/reddit.com/comments/81bk3/i_submit_a_paper_on_blackboard_called_hw_2docx/