5 ms·

Pure spitballing. What if: in exchange for fully subsidized schooling at a state school, graduates participated in a profit-sharing agreement with the country a

Pure spitballing. What if: in exchange for fully subsidized schooling at a state school, graduates participated in a profit-sharing agreement with the country and city that they went to school in? Similar to the Lambda model (what happened to them anyways?).

drw3 3y ago
Sued by former students: https://www.forbes.com/sites/edwardconroy/2023/03/29/former-students-are-suing-for-profit-coding-bootcamp-bloomtech/?sh=f2ffaf555234 https://www.forbes.com/sites/edwardconroy/2023/03/29/former-...
- femiagbabiaka 3y ago
  Yikes! Well this seems like a place where colleges are socialized better: we all know that getting a college degree, especially certain degrees, are no indicator of employability.
- kelnos 3y ago
  Sure, but Lambda got sued for misrepresenting material facts about the deal to their students. I don't think this lawsuit (or Lambda's actions) invalidates the idea GP presented.
  - drw3 3y ago
    I don’t disagree, I was just responding to the person who asked what had happened to Lambda :)
lmm 3y ago
"Profit-sharing agreement" is economically the same thing as "indentured servitude", which is illegal (for good reasons IMO).
- femiagbabiaka 3y ago
  Under that line of thought, wouldn’t taxes also be indentured servitude? Or loans? IMO the key is that the government will need to take a loss on the “loans”.
  - sieabahlpark 3y ago
    [dead]
  - lmm 3y ago
    > Under that line of thought, wouldn’t taxes also be indentured servitude? Taxes are much like indentured servitude. We allow the government to do things that we wouldn't allow private entities to do. > Or loans? Loans for specified amounts are legal, subject to some fairly strict protections (limits on APR, discharging them in bankruptcy, lots of required disclosure). You can't generally write a profit-sharing agreement that way - how would you tell the person how much they're going to have to repay? How would you stop them declaring bankruptcy immediately to get out of it?

drw3 3y ago

Sued by former students: https://www.forbes.com/sites/edwardconroy/2023/03/29/former-students-are-suing-for-profit-coding-bootcamp-bloomtech/?sh=f2ffaf555234 https://www.forbes.com/sites/edwardconroy/2023/03/29/former-...

femiagbabiaka 3y ago
Yikes! Well this seems like a place where colleges are socialized better: we all know that getting a college degree, especially certain degrees, are no indicator of employability.
kelnos 3y ago
Sure, but Lambda got sued for misrepresenting material facts about the deal to their students. I don't think this lawsuit (or Lambda's actions) invalidates the idea GP presented.
- drw3 3y ago
  I don’t disagree, I was just responding to the person who asked what had happened to Lambda :)

lmm 3y ago

"Profit-sharing agreement" is economically the same thing as "indentured servitude", which is illegal (for good reasons IMO).

femiagbabiaka 3y ago
Under that line of thought, wouldn’t taxes also be indentured servitude? Or loans? IMO the key is that the government will need to take a loss on the “loans”.
- sieabahlpark 3y ago
  [dead]
- lmm 3y ago
  > Under that line of thought, wouldn’t taxes also be indentured servitude? Taxes are much like indentured servitude. We allow the government to do things that we wouldn't allow private entities to do. > Or loans? Loans for specified amounts are legal, subject to some fairly strict protections (limits on APR, discharging them in bankruptcy, lots of required disclosure). You can't generally write a profit-sharing agreement that way - how would you tell the person how much they're going to have to repay? How would you stop them declaring bankruptcy immediately to get out of it?