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With a catalog of over 2000 videos and with over 30 million lessons delivered, Khan Academy has become the world's most popular educational website. Salman Khan has the distinction of being "Bill Gates' favorite teacher," as the second richest man in the world says he uses the Khan Academy videos to help his children learn math and science.

Are entrepreneurship and education opposed? Can companies be profitable while revolutionizing education? How can startups, with their emphasis on rapid change, co-exist with education, something that is traditionally risk-adverse? Is there an innovation that will be the tipping point for the transformation that is much needed in today's education system? Last night, the MIT/Stanford Venture Lab (VLAB) held an event entitled "De-Classifying Education," in which these questions were addressed by a panel of entrepreneurs and investors.