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Replying to @AustenAllred
Good luck enforcing indentured servitude contracts. This has been tried.
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Replying to @Foudroyant
Sounds like you know exactly nothing about what we’re doing, so that’s a bold statement
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Replying to @AustenAllred
I do know about Yale's experiment along those lines and the difficulties they had. Are your contract terms on the internet somewhere?
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Replying to @Foudroyant
From the 70s? Yeah things are a little different now. They are but I don’t share the contract publicly. In short: 17% gross salary for two years Only when making $50k+/yr $30k total cap Expires after 5 yrs We get access to student’s bank account and tax returns
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Replying to @AustenAllred @Foudroyant
That's cool, you haven't mentioned what you do for the exceptions. - People with health issues? - Change their mind? - Work equity-only? - Continue education?
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Replying to @gatesvp @Foudroyant
Is a risk we take and build into our models. All of the below, with the exception of education (if they’re going to more school contract extends) would just be a default in our book, assuming they don’t hit that salary in 5 yrs
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Change their mind might be different- there’s a pro-rated income share if they finish more than the first month of classes, but we’ve already had a lot of people decide programming or our school isn’t for them in the first couple weeks. They pay $0.
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