Education: Contested Valuations of Extraction, Creation and Circulation

Abstract

This chapter examines India’s EdTech sector as a contested field of market formation comprising three distinct institutional models: venture-capital-driven platforms (such as BYJU’S), public digital infrastructures (NPTEL/SWAYAM) and organic creator ecosystems (YouTube educators). A comparative analysis reveals that these models employ distinct market mechanisms, valuation metrics and governance structures, resulting in divergent outcomes. The collapse of BYJU’S illustrates the fragility of platforms that prioritize value extraction through financialized growth and aggressive sales tactics. In contrast, public platforms like NPTEL demonstrate resilience through a value-creation logic aligned with educational purposes and the public good. At the same time, organic digital educators operate on principles of value circulation grounded in community trust and reciprocity. The analysis reveals that educational value cannot be commodified; rather, it remains a social process that is dependent on relationships and institutional trust. The success of alternative models raises critical questions about EdTech’s future trajectory: will it be extractive or generative, proprietary or public? This chapter demonstrates that institutional purpose, not technology alone, determines platform sustainability.