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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 May 20

    Looking at economics textbooks the average economics major looks like: Econ 101: basic building blocks of economics. Every other economics class: ok most of what we taught you was wrong and here’s why.

    11:14 AM - 20 May 2018
    • 5 Retweets
    • 89 Likes
    • shawn swyx wang 🌉 JSON Walker Andrew Fierce ! Cathy Reisenwitz hello Pat Sharp Ritvik nédu 🔱
    5 replies 5 retweets 89 likes
      1. Austen Allred‏Verified account @AustenAllred May 20

        Also Econ 101 is required for every undergrad so that you can be confused about everything forever

        5 replies 2 retweets 44 likes
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      2. Ted Samore‏ @SamoreTed May 20
        Replying to @AustenAllred

        Example?

        1 reply 0 retweets 1 like
      3. Austen Allred‏Verified account @AustenAllred May 20
        Replying to @SamoreTed

        Supply/demand curve relative to labor markets. Blattman has an explanation I mostly agree with:https://chrisblattman.com/2012/01/11/how-much-economics-should-you-study-in-college-or-why-economics-is-like-a-martial-art/ …

        0 replies 0 retweets 7 likes
      4. End of conversation
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      2. Jacob Anstey‏ @jacob_anstey May 20
        Replying to @AustenAllred

        Step 1: Learn and understand that incentives are the foundation of all decisions. Step 2: Learn and understand opportunity cost. Will get you far by just understanding those two concepts.

        1 reply 0 retweets 5 likes
      3. Leann Abad‏ @Leann_Abad May 20
        Replying to @jacob_anstey @AustenAllred

        My prof taught 4 principles: 1. Cost Benefit Analysis 2. Opportunity Cost 3. Marginal Principle 4. Interdependence Understanding those, especially during decision making, have made life much simpler.

        0 replies 3 retweets 16 likes
      4. End of conversation
      1. Colonel Panic‏ @ChrisEsplin May 20
        Replying to @AustenAllred

        Have econ degree. Can confirm. The method of thinking and investigation is valid. Everything else is theory. Tldr; All econ studies rely on assumptions. Most studies are hot garbage. If you want truth, bias every single assumption against your desired outcome.

        0 replies 0 retweets 3 likes
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      2. Sunny R. Juneja‏ @sunnyrjuneja May 20
        Replying to @AustenAllred

        I feel like this is true of a lot subjects especially in sciences. For example, in physics you start with Newtonian Physics because they're simpler models and give basic sense of institutions.

        1 reply 0 retweets 2 likes
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