Brokenness = potential energy. Anything badly broken is a dam holding back a lake of unrealized desires. A startup that can bore a hole through such a dam can liberate all that energy.
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The opportunity that comes from brokenness = the number of people affected times how much it hurts them. For example, US higher education is massively broken. In exchange for degrees that are often worthless, millions of people get into debt that will burden them for decades.
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The source of the brokenness of US higher education is a mixture of social custom, institutional rigidity, and government policy that would be extremely hard to unravel. But Lambda School just bored a hole through the dam.
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Lambda School may not be a complete solution to the brokenness of US higher education, but it's an immediate one. And the hole in the dam is still small, but it's growing at startup rates.
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What other problems can be solved by boring a hole through the dam? Could you fix healthcare? On the face of it, it seems unlikely. But I didn't think higher education could be fixed either before I saw Lambda School.
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(I know I'll get hell from trolls for suggesting a startup might fix healthcare. "Tech bro thinks startups can fix all the world's problems." But if I can set off a spark in the brains of a handful of people who might drill through such dams, I'll take that deal.)
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The hiring process is the biggest problem. Most students are in college for one reason, to become employable. Companies don't know how to properly measure a candidate efficiently so they use institutions (even lambda) to certify new hires. The data is clear on this.
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What's odd is that there are millions of underemployed individuals in the US. Hiring non-grads represents a huge opportunity for companies, but most have only paid lip service to this practice. Most employees are grads and do not want to depreciate their asset (a degree).
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Wrong. The problem with school debt is that it’s profitable. Make it no longer profitable and education will be forced to be competitive to be meaningful again.
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