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.

01:01:08

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Episode guests

Austen Allred

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Episode notes

Intro

2min

Lambda School: Innovating Education Funding

17min

Mormon Culture and Entrepreneurial Spirit

7min

The Business of College Admissions

17min

Exploring the Impact and Business Model of StrengthsFinder

2min

The Dynamics of Productivity and Monitoring in Remote Work

10min

Evaluating New Educational Ventures and Market Sustainability

4min

Sam Parr (@theSamParr) and Shaan Puri (@ShaanVP) are joined by Austen Allred (@Austen) on the pod today. Austen is the founder of Lambda School (@LambdaSchool). In today’s episode you’ll hear: Austen gives background on Lambda School and explains the challenges and opportunities in the education space (1:05) Shaan asks Austen to explain his rise from sleeping in a car in San Francisco to running Lambda School (14:00), Austen talks about how his Mormon mission prepared him for a life in business (20:28), Austen breaks down how colleges make money off of application fees (28:35), The guys talk about the big business of college entrance exams (36:35) Austen pitches his idea of increasing productivity at companies by reducing the slack from employees (47:20), the guys discuss the pros and cons of employee tracking software in the age of COVID and mass remote work (50:33), Shaan asks Austen to predict ways different “Lambda School’s for X” are going to grow into the future (58:00). Thank you to our sponsor Square! Square makes it easy for your business to accept payment, and so much more! Check out this week's sponsor at square.com/go/hustle! Joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion.

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