The rise of online delivery has had a major impact on higher education, particularly for adult learners. We will trace adult learning from the periphery of higher education in the 1980s through the boom of online in the 2000s, and into the next decade. In terms of competition and scope, the adult student market, online delivery, and for-profit schools are ever-more inter-related. Yet the different components are typically treated in isolation, limiting visibility of opportunities and threats. With our unique vantage point, working with a wide range of adult-serving schools and online higher education leaders, Eduventures is well-placed to offer a compelling, integrated alternative view.