The Khan Academy happened almost by accident. It all started when its creator, Salman Khan, made a video tutorial for his cousins. You can find out what happened after that by watching this video. Khan, quite rightly, received a long standing ovation, and I must admit I haven't been so thrilled about education since Sir Ken Robinson's talk.
Khan's proposal, which wasn't his really, but was started by some of his early followers, is simply to reverse the teaching process. Use video as self-instruction at home, and bring what used to be homework into the classroom, where teachers spend more time with individual students, rather than explaining theories to 30 children. Khan's approach would also work well for students who want to supplement their learning while taking online courses.
The idea is, indeed, very exciting, especially for those of us who have been propagating the use of technology in teaching. It has been tested in some schools, and the result have been very encouraging.
Watch the video, and tell us what you feel. Spread the word - tweet this, post it on Facebook, etc.