Announcing Our Investment in Trilogy
“In the future, talent, not capital, will be the critical factor of production.”
-Klaus Schwab, Executive Chairman, World Economic Forum
Much has been made of the growing skills gap that is undermining growth in our modern economy. At its core, the skills gap exists because technology is changing faster than our workforce’s ability to acquire new skills.
This is not a new phenomenon. In fact, for much of modern history, education and technology have been in a race.
When education is ahead — when societies and schools invest in educational gains that can meet the demand driven by technological progress — jobs can be filled and the economy prospers and grows. Indeed, much of American innovation and productivity over the past 75 years can be attributed to the significant education and human capital investments made in the 20th century.
However, when technology outpaces educational capacity, not only is economic growth stunted, societal inequality also grows as higher paying, higher skilled jobs go to fewer and fewer workers.
Today, we are excited to announce our investment in Trilogy Education. Trilogy is a workforce accelerator that partners with leading universities to create market-driven programs that bridge the digital skills gap. From coding to cyber security to UI/UX, Trilogy’s programs train adult learners in the most relevant, high demand skills in the tech economy. Exceed Capital is proud to partner with Highland Capital and Macquarie in leading the round, with participation from existing investors Rethink Impact, City Light Capital, and Triumph Capital LLC.
Students may be career-switchers looking to enter a new field, or workers who need to keep pace with the most recent developments in a fast moving area of technology. Trilogy works closely with its university partners and regional employers to make sure the curriculum is constantly updated and responsive to the requirements of local job markets.
This model enables universities to respond quickly to changing labor market demands. Once a partnership with Trilogy has been established, a university can introduce high-impact, high-quality programs at a speed and scale that would be difficult if not impossible on a standalone basis. This helps the university achieve its mission by dramatically expanding its capacity to serve students — with flexible, non-degree programs that can be delivered either part-time or full time, in-person or online.
We all know that, in the future, technologies such as AI and Machine Learning will both destroy and create jobs. While estimates suggest that up to 47% of all current jobs are subject to replacement by automation and AI, we do not yet know what kinds of new jobs these technologies will create.
In a world where employers today are already unable to fill roles that require digital skills, will the workforce of tomorrow be able to acquire the skills required to fill those new jobs? How will our educational institutions gain the capacity and agility required to prepare for an ever-changing work environment? How do we reduce the lag time between the development of jobs and the preparation of our workforce — particularly in an era where the half-life of knowledge is shortening every day?
The urgency of these questions is why companies like Trilogy are so important.
We have been tremendously impressed by the entire Trilogy team and the meaningful scale they’ve achieved in a short period of time. We couldn’t be more excited to partner with them in their next stage of growth, particularly as they expand Trilogy globally.
As a society, we need to rise to the challenge of the widening skills gap by increasing our focus on and commitment to new skills training. Trilogy gives our education system a tremendous boost in its race with technology.