Duolingo co-founder and CEO Luis von Ahn discusses the company's market dominance and competitive landscape in language learning.
Insight
Luis von Ahn: Do not bet early on unproven new tech platforms
“What we've learned
Is not to bet on these very new products, because you really never know if they're going to work. So it's not that Apple Watch didn't work. Apple Watch ended up working, but what didn't work was apps on Apple Watch. There's just.
That's ju…”
Assertion Not checkable as stated
Von Ahn: Duolingo could charge $150/year and users would pay
“The reality is it's not even 60 bucks a year. I mean, we can charge 150 and people will pay it.”
Assertion Partly supported
Von Ahn: Duolingo has 50x Rosetta Stone's users and 5x its revenue
“By now, I would say we probably have 50 times more users than they do. Our revenue is probably five X their revenue.”
Insight
Von Ahn: Education companies become marketing-driven because product improvement is hard
“A lot of companies in education eventually turn into marketing companies. For the following reason. You realize, man, making improvements in how well you teach is hard. And it really is very hard. It's, it takes years. So for every dollar you have, you quickly…”
Insight
Luis von Ahn: Mission-focused founders usually make more money than profit-driven founders
“In my experience, that type of business usually is a lot more successful. Even if early, if the founder is not necessarily all that much into making money, et cetera, they end up making more money than the ones that are where the founder's like, I just want to…”
Insight
Von Ahn: Traditional education increases inequality rather than reducing it
“A lot of people talk about education as something that brings equality to different social classes, but I always saw it as the opposite, something that brings inequality, because what happened, at least, you know, in my case, those who have money can buy thems…”