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AustenAllred's profile
Austen Allred
Austen Allred
Austen Allred
Verified account
@AustenAllred

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Austen AllredVerified account

@AustenAllred

CEO @LambdaSchool (YC S17): A CS education that's free until you get a job. I have made remarks that I do not agree with.

San Francisco, CA
lambdaschool.com
Joined December 2010

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    1. Eric Mustin‏ @Ericmustin Sep 12

      Eric Mustin Retweeted Leo Polovets

      Nice list of compensation models you put together, but tbh the "lambda school compensation model" yada yada is content marketing around a boilerplate coding bootcamp that you can pay $20kish to attend, not an incentive alignment model.https://twitter.com/lpolovets/status/1040058325688152064 …

      Eric Mustin added,

      Leo Polovets @lpolovets
      I love compensation models that align incentives between parties: * Salespeople paid on commission * Tips for service * Carry for fund managers * Tuition that's based on a graduate's future income * Affiliate models * Money-back guarantees What are other interesting examples? https://twitter.com/briannekimmel/status/1039682691178713088 …
      2 replies 0 retweets 0 likes
    2. Austen Allred‏Verified account @AustenAllred Sep 12
      Replying to @Ericmustin

      Not true at all. If a student attends Lambda School and doesn’t get a software engineering job they pay $0. If they get a low-paying job they pay less than $20k

      1 reply 0 retweets 0 likes
    3. Eric Mustin‏ @Ericmustin Sep 12
      Replying to @AustenAllred

      Buut your compensation model also includes an option to pay $20k upfront, as stated on the /about page of your site. So tho I understand what ur claiming, unless ur going to followup and tell me 0 students take that option, i don't follow how it's a new incentive alignment model.

      1 reply 0 retweets 0 likes
    4. Austen Allred‏Verified account @AustenAllred Sep 12
      Replying to @Ericmustin

      It’s less than 5% of students paying upfront

      1 reply 0 retweets 1 like
    5. Eric Mustin‏ @Ericmustin Sep 12
      Replying to @AustenAllred

      Man...i really hope that approach works out for you, seriously in all honesty i do, but like certainly you want that mix to be higher...right? I guess I really don't follow how this business works but i certainly wish you the best.

      1 reply 0 retweets 0 likes
      Austen Allred‏Verified account @AustenAllred Sep 12
      Replying to @Ericmustin

      Pretty simple, we get paid if our students get jobs

      11:06 PM - 12 Sep 2018
      • 1 Like
      • Eric Mustin
      1 reply 0 retweets 1 like
        1. New conversation
        2. Eric Mustin‏ @Ericmustin Sep 12
          Replying to @AustenAllred

          lemme ask u this. lets say a student goes 30% through ur class, it turns out, you know, its not right for them/they drop out. Tons of lost resources dedicated to them. So i get it, ur selective to avoid that. But how do you grow to "get paid" enough without being less selective?

          2 replies 0 retweets 0 likes
        3. Eric Mustin‏ @Ericmustin Sep 12
          Replying to @Ericmustin @AustenAllred

          feels like the only reasonable answer there is to change your student mix to more upfront people that are paying you and maybe like, getting a small refund if they drop out vs total loss of investment. and then its the same incentive model like everyone else. maybe im wrong.

          0 replies 0 retweets 0 likes
        4. End of conversation

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