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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The numbers are very specifically pegged to software devs. Your $50k+ represents most or all of a median salary for a US family wrapped up in one person. This is awesome for that person. But would it work for chef's school? Journalism? Psychology? Medicine?
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Replying to @gatesvp @Foudroyant
It wouldn’t be the same rate; the labor market drive what we can charge for an education in a specific field. Which, if you think about it, makes sense
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Replying to @AustenAllred @Foudroyant
It does, but it also causes some potential problems in terms of "replacing University", the original point. Like it would make sense for Nursing or Engineering or possibly Medicine. But those degrees to hire. But does it make sense in Science? Most Science grads work at Uni?
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Replying to @gatesvp @Foudroyant
We don’t care where anyone works. Or if they start companies. That said our goal isn’t to replace universities. We think a lot of people actually shouldn’t necessarily go to a university. We view ourselves as a trade/vocational school, which the US desperately needs more of.
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Replying to @AustenAllred @Foudroyant
I can definitely get behind the need for a better trade / vocational school system in the US. But I think we should acknowledge that you are currently arbitraging an inefficient system. :) The ROI on the 4-year Nursing or Eng or Med version would be very different.
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We are for now, yes. But a nursing or medical degree would still be a layup, after dealing with regulation. You just charge different rates. Within one year there will be a startup nursing college on an income share agreement. If there’s not we’ll add it.
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