This paper, written by Sir John Daniel during his fellowship at the Korea National Open University in September 2012, explores the phenomenon of Massive Open Online Courses (MOOCs) and their impact on higher education. The author traces the evolution of MOOCs, from their early cMOOCs (connectivist) models to the more recent xMOOCs (x) that have dominated media attention. The paper highlights the paradoxes and myths surrounding MOOCs, such as the relationship between university brand and teaching quality, the role of pedagogy, and the business models that support these courses. Key points include: - The hype around MOOCs, driven by media frenzy and commercial interests, often overlooks the history of educational technology fads. - The real revolution lies in universities embracing openness, despite their traditional business models based on scarcity. - The competition among institutions to offer MOOCs will force them to focus on teaching quality and student needs, potentially leading to a deflationary trend in higher education costs. - The paper discusses the challenges of MOOCs, including low completion rates and the lack of credit for online courses, and explores potential solutions through learning analytics. - The author argues that MOOCs will not significantly address the needs of higher education in developing countries but may encourage local institutions to develop online learning more deliberately. - The paper concludes by emphasizing the potential for MOOCs to improve teaching and encourage institutions to develop unique missions, while also acknowledging the ongoing challenges and contradictions in the MOOC movement.This paper, written by Sir John Daniel during his fellowship at the Korea National Open University in September 2012, explores the phenomenon of Massive Open Online Courses (MOOCs) and their impact on higher education. The author traces the evolution of MOOCs, from their early cMOOCs (connectivist) models to the more recent xMOOCs (x) that have dominated media attention. The paper highlights the paradoxes and myths surrounding MOOCs, such as the relationship between university brand and teaching quality, the role of pedagogy, and the business models that support these courses. Key points include: - The hype around MOOCs, driven by media frenzy and commercial interests, often overlooks the history of educational technology fads. - The real revolution lies in universities embracing openness, despite their traditional business models based on scarcity. - The competition among institutions to offer MOOCs will force them to focus on teaching quality and student needs, potentially leading to a deflationary trend in higher education costs. - The paper discusses the challenges of MOOCs, including low completion rates and the lack of credit for online courses, and explores potential solutions through learning analytics. - The author argues that MOOCs will not significantly address the needs of higher education in developing countries but may encourage local institutions to develop online learning more deliberately. - The paper concludes by emphasizing the potential for MOOCs to improve teaching and encourage institutions to develop unique missions, while also acknowledging the ongoing challenges and contradictions in the MOOC movement.