I highly doubt that any of the coding boot camps can make a difference in whether someone gets hired by FAANG.
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Replying to @akarp
I agree that's true of most bootcamps, but the ones that give people enough technical skills to think they have a better shot at a startup than a big company might. Interested in
@AustenAllred 's thoughts on this, given you're addressing his business model.2 replies 0 retweets 0 likes -
Replying to @jaengelman @akarp
First there’s a misunderstanding of how the deferred tuition works (at least at Lambda School). Students agree to pay a percentage of adjusted gross income according to tax returns, so we’re fine if they start a company. Agreement lasts up to 5 yrs, you make payments for up to 2
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Replying to @AustenAllred @jaengelman
Well, their company has overwhelming chances of failing, unfortunately. But given the agreement they’ve entered, they now have an extra incentive to pursue that route.
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Replying to @akarp @jaengelman
I think you completely misunderstand the financial tradeoffs most people in that situation are making. Our average student has never made more than $35k/yr. They’re not looking to be cute and arbitrage away tuition. They want a fucking job.
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If you’re in my financial position, or yours? Sure, we’d be hesitant to trade away a percentage of salary for two years (capped at $30k total) once you’re making $50k+. In our students’? They don’t have that luxury.
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Replying to @AustenAllred @jaengelman
They do want a job but not as hard as someone who has paid actual cash to get the skills and gets to keep all of their future pay.
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Replying to @akarp @jaengelman
You’re assuming they come from equivalent economic circumstances
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You have two students of equivalent skill. One has been working in an Amazon warehouse making $11/hr. The other working in SAAS sales making $90k/yr. Former on deferred tuition, latter pays cash. A jr eng role comes along for $80k/yr. Who is more likely to take it?
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Replying to @AustenAllred @jaengelman
I don’t see exactly the point of this example. I think the right perspective is to focus on an arbitrary (but fixed) profile and consider how one’s incentives are affected by a given set of terms.
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Ok, look at it from the perspective of a brilliant student who is making $11/hr. You want to go to school to become a software engineer. Pay upfront? Impossible. Loans? Too risky (risk 100% of annual salary?) Income share agreement? Doable
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