CFPB Takes Action Against Coding Boot Camp BloomTech and CEO Austen Allred

Post by not_wyoming » Thu, Apr 18, 2024, 2:36 PM UTC

solardev wrote: post #10

Are there any legit income-sharing schools of this type, tech or otherwise? Done fairly, it sounds like an interesting alternative to upfront tuition. On the surface it doesn't seem like a bad model, but of course it could be twisted to evil ends. From the article: > The loans carry substantial risk, as a single missed payment triggers a default and the remainder of the $30,000 “cap” becomes due immediately. > Studen…

Post by bikemore » Thu, Apr 18, 2024, 2:41 PM UTC

sandofsky wrote: post #24

saadatq wrote: post #8

Unreal: > Allred tweeted that the school achieved a 100 percent job-placement rate in one of its cohorts, and later acknowledged in a private message that the sample size was just one student.

When confronted about this on Hacker News, Austen defended himself with: > I did say the hiring rate of a cohort of one student was 100%. And in the same tweet I said, in all caps BUT VERY SMALL SAMPLE SIZE. Odd how that doesn’t make the article, don’t you think? https://news.ycombinator.com/item?id=26813371 Incidentally, it did make it into the article he's referring to, twice.

Post by uhohspaghetti » Thu, Apr 18, 2024, 2:43 PM UTC

CPLX wrote: post #105

sandofsky wrote: post #98

Earlier quoted context omitted.

In January 2020, as news broke about Lambda School's scummy behavior, Graham gave Austen a pep talk which he later expanded into the essay, "Haters." It has aged like a fine milk. https://paulgraham.com/fh.html

The more we see the legacy of PG’s various protégés and “thought leadership” out in the world the more I start to think Jessica Livingston might have been responsible for much more of YC’s successful trajectory than people realized at the time.

Post by bikemore » Thu, Apr 18, 2024, 2:44 PM UTC

sandofsky wrote: post #24

saadatq wrote: post #8

Unreal: > Allred tweeted that the school achieved a 100 percent job-placement rate in one of its cohorts, and later acknowledged in a private message that the sample size was just one student.

When confronted about this on Hacker News, Austen defended himself with: > I did say the hiring rate of a cohort of one student was 100%. And in the same tweet I said, in all caps BUT VERY SMALL SAMPLE SIZE. Odd how that doesn’t make the article, don’t you think? https://news.ycombinator.com/item?id=26813371 Incidentally, it did make it into the article he's referring to, twice.

Post by chamomeal » Thu, Apr 18, 2024, 2:47 PM UTC

not_wyoming wrote: post #274

/Years/ ago, I tweeted something about how companies like Uber and Lambda were privatizing public services. ISAs specifically seem like a privatization of taxes. Austen Allred quote-tweeted me to his gazillion followers and caused a big pile-on about how awful and wrong and anti-progress I was. Couldn't happen to a nicer guy.