My First Million #117 Austen Allred - Lambda School's Founder Brings His Best Ideas
Oct 7, 2020
Austen Allred, founder of Lambda School, shares his journey from living in a car to leading an innovative online education platform focused on success-based payment models. He dives into the challenges of the education sector and the financial dynamics behind college admissions, uncovering hidden revenues from application fees. Austen also discusses how Mormon culture shaped his entrepreneurial spirit and the evolving workplace dynamics, especially in relation to employee productivity and monitoring in the remote work era.
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Lambda School's Growth
- Austen Allred's Lambda School grew from 20 students to enrolling 300-400 monthly.
- They place more software engineers than all UC schools combined.
Incentive Alignment
- Lambda School's ISA model ties its success to student success, unlike traditional universities.
- This incentivizes them to provide better training and job placement.
From Car to Startup
- Austen Allred lived in his car in San Francisco due to high rent.
- He did freelance marketing and SEO work before founding Lambda School.