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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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    Austen Allred‏Verified account @AustenAllred Feb 14

    A Debt-Free Alternative to Student Loans: Income-share agreements hold promise for students, investors and taxpayers. Congress should help them take root.https://www.bloomberg.com/view/articles/2018-02-14/a-debt-free-alternative-to-student-loans …

    12:17 PM - 14 Feb 2018
    • 3 Retweets
    • 29 Likes
    • Mike Smith A Singh Be good to people. zvi Saku Panditharatne Sar Haribhakti Paul Gowder 🐱😺😸😹😻😼😽🙀😿😾🦁🐯🐅🐆🐈 Keith Wasserman
    5 replies 3 retweets 29 likes
      1. New conversation
      2. Patrick Vlaskovits‏ @Pv Feb 14
        Replying to @AustenAllred

        Indentured servitude is probably worse than current effed up system.

        1 reply 0 retweets 1 like
      3. Austen Allred‏Verified account @AustenAllred Feb 14
        Replying to @Pv

        An income share agreement is further from indentured servitude than debt is

        1 reply 0 retweets 1 like
      4. Patrick Vlaskovits‏ @Pv Feb 14
        Replying to @AustenAllred

        How so?

        1 reply 0 retweets 0 likes
      5. Ryan Lowe‏ @phyter_tek Feb 14
        Replying to @Pv @AustenAllred

        If your income is below a set threshold, your payments pause. If your income remains below that threshold for a certain amount of time the agreement is voided. All forms of debt can be considered indentured servitude since you must work to pay said debt.

        1 reply 0 retweets 0 likes
      6. Ryan Lowe‏ @phyter_tek Feb 14
        Replying to @phyter_tek @Pv @AustenAllred

        Income shares are at least aligned incentivewise to the debtors, debtees HAVE to provide enough value to them to ensure they are paid

        1 reply 0 retweets 0 likes
      7. Ryan Lowe‏ @phyter_tek Feb 14
        Replying to @phyter_tek @Pv @AustenAllred

        I'm not aware of any other type of debt that has this type of value alignment

        1 reply 0 retweets 0 likes
      8. Austen Allred‏Verified account @AustenAllred Feb 14
        Replying to @phyter_tek @Pv

        For example, you only pay on Lambda School’s income share agreement if your income is $50k+. No interest. If you lose a job your payments stop instead of default. No job? Disappears in 5 yrs. Capped at a maximum you could possibly owe. Better than a loan in every way.

        1 reply 0 retweets 2 likes
      9. Patrick Vlaskovits‏ @Pv Feb 14
        Replying to @AustenAllred @phyter_tek

        Can an income share obligation rendered moot in bankruptcy court?

        1 reply 0 retweets 0 likes
      10. 7 more replies
      1. New conversation
      2. Startup Diazepam‏ @Startup_Dreams Feb 14
        Replying to @AustenAllred

        This idea has been floated for a while. But what is the fundamental difference between loan & ISA? The former has interest the latter captures a portion of salary equated to cost.

        1 reply 0 retweets 0 likes
      3. Austen Allred‏Verified account @AustenAllred Feb 14
        Replying to @Startup_Dreams

        With our ISA for example if you don’t get a job that pays $50k/yr you don’t pay anything

        0 replies 0 retweets 1 like
      4. End of conversation
      1. New conversation
      2. pristine schemes‏ @atthatmatt Feb 14
        Replying to @AustenAllred

        How is that not just debt with more steps?

        1 reply 0 retweets 0 likes
      3. Hallie Lorax‏ @hrlomax Feb 14
        Replying to @atthatmatt @AustenAllred

        It creates an incentive structure where it's in a university's best interest to actually ensure that they increase a student's likelihood of getting a high paying job, rather than tossing them out into the wild after graduation with debt and underemployment

        1 reply 0 retweets 0 likes
      4. Austen Allred‏Verified account @AustenAllred Feb 14
        Replying to @hrlomax @atthatmatt

        If you don’t get a job that pays $x you don’t pay on an income share agreement. And they go away after y years

        0 replies 0 retweets 3 likes
      5. End of conversation
      1. New conversation
      2. Startup Diazepam‏ @Startup_Dreams Feb 14
        Replying to @AustenAllred

        But even more so, if the cost of education stays the same or increases (ISA) merely become a less pernicious agreement.

        1 reply 0 retweets 0 likes
      3. Austen Allred‏Verified account @AustenAllred Feb 14
        Replying to @Startup_Dreams

        The entire focus of the institution shifts if they know they won’t get paid if students don’t get jobs

        1 reply 0 retweets 2 likes
      4. Startup Diazepam‏ @Startup_Dreams Feb 14
        Replying to @AustenAllred

        Wait, the one who is on the hook is the financier, not the school, right? Tuition gets collected per semi right?

        0 replies 0 retweets 0 likes
      5. End of conversation
      1. Jake Chapman‏Verified account @runvc Feb 14
        Replying to @AustenAllred

        regulation would be great news!

        0 replies 0 retweets 2 likes
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