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That isn't how any of this works. There has been a constant allegation that Lambda School sells its ISAs and therefore no longer has incentives that are aligne
by austenallred 6y ago
That isn't how any of this works.
There has been a constant allegation that Lambda School sells its ISAs and therefore no longer has incentives that are aligned with students. The assertion is that, in “Big Short” style, we sell off all the risk of our students being placed to someone else and don’t have to care about outcomes.
Nothing could be further from the truth.
When Lambda School finances ISAs here’s how it works:
We get together with investors and say, “Based on past performance, we predict this ISA will be worth $x.” We can then receive an advance of $x, minus interest and a possible margin of error.
Importantly:
1. That amount needs to be paid back, plus interest.
2. If the value of the ISAs ends up being less than predicted, either we have to reimburse investors for the loss, or we won’t be able to continue borrowing in the future.
This is not a unique or predatory structure in any way.
If a student drops out, doesn’t get hired, or doesn’t pay back, Lambda School makes less money. If a student does great, gets hired, and pays back quickly, Lambda School makes more money.
This is not a scandal, and holds true to incentive alignment in any way. Lambda School remains entirely aligned with its students.
- sugarwater 6y agoAfter Lambda School completely removed code review, grading, attendance, TLs when I was enrolled... I just couldn't see how the incentives were aligned anymore. There was no one looking at my assignments, my assessments, my projects and telling me what I got wrong and how I could do better. Those choices made by Lambda only hurt students' learning and therefore chances to get a job. And when students complained, the school addressed the complaints but barely made a change.
- sjg007 6y agoPair programming is the best way to learn so that's unfortunate.
- odshoifsdhfs 6y agoI wish people would stop saying things like this. Nothing against you, but no, pair programming is not the best way to learn. There are various learning styles and people fall in diverse ways to learn best. I hate visual and social learning. Just doesn't work for me. Youtube videos and pair programming is just the worst thing you can do for me if you want me to retain any information. While some say there is 8, others 4, others 6, (mainly some divide some items in 2 vs 1), people are different and learn in different ways. Heck, just the amount of teaching styles/methods should be a good hint that there is no size fits all when it comes to learning. Source: Childhood education degree + years of researching the topic.
- sjg007 6y agoWe learn from our peers. Sure a teacher helps but most learning is peer based.
- odshoifsdhfs 6y agoLets assume that is true, it doesn't mean you need or should use pair programming to learn from your peers. Depending on your style of learning, pair programming may work, a visual presentation may work better, or just typed docs for other people. Pair programming may have originated in the 70's (depending on source), but there are hundreds of years of research on learning, please don't make the mistake of taking something as gospel. (and in case you would like to point to apprenticeships in the past, they look nothing like pair programming, as it was mostly a subordinate relationship between master and student)
- chris11 6y agoI don't see as much benefit from pair programming if it involves two students and replaces being taught by an instructor.
- sugarwater 6y agoVery much blind leading the blind leading the blind from my experience at the school
- sandofsky 6y agoThe original poster said, "If their students don't get a job, Lambda doesn't get paid." Absolutely nothing in your reply changes the fact Lambda is paid before the student gets a job. You're trying to change the topic to something you can wiggle through, and I refuse to engage. You were caught on tape lying about this, and I have no reason to believe you've stopped lying. https://soundcloud.com/vwoo/interview-with-austen-allred https://soundcloud.com/vwoo/interview-with-austen-allred
- effingwewt 6y agoThank you! Allred constantly lies through his teeth and it makes me fucking rage. He spouts the same bullshit over and over. Lambda isnt free for the students, they pay, and here's Mr Disingenuous to claim he needs to get money to train students 'from somewhere' And not to mention he uses students to teach students! He can't even keep 'teachers' on board! Edit- males->makes.
- austenallred 6y agoWe have nearly 200 full-time employees including many, many instructors (not to mention contractors). This is just not true.
- effingwewt 6y agoAs opposed to how many students? This is very much true, you are a known, proven liar, and your 'bootcamp' is beyond predatory. You lie about placements, you lie about your number of instructors, I will take the word of every one of your students over the PR speak you spout repeatedly.
- austenallred 6y agoAbout 2,000 concurrent students. We are not profitable, so if it’s a scam it’s not a very good one. Nothing about Lambda School is predatory and I have never lied.