The Futur with Chris Do 063 - A Coding School that Invests in You — with Austen Allred
Sep 14, 2019
Austen Allred, Founder of Lambda School, shares his vision for a revolutionary coding education platform that charges no upfront tuition. Students only pay after securing jobs, aligning financial success between the school and its learners. He discusses the dramatic growth of Lambda, from its humble beginnings to a vibrant community of 600 students and 80 contractors. Allred also reflects on the economic divide faced by aspiring coders, emphasizing the importance of accessible education to bridge the gap in tech opportunities.
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Discrepancy in Opportunity
- Austen Allred's experience living between small-town Utah and San Francisco highlighted a stark contrast in opportunity.
- High referral bonuses for software engineers in San Francisco contrasted with the limited prospects in Utah, inspiring him to create Lambda School.
Evolution of Lambda School
- Lambda School's model evolved from a bootstrapped, traditional code school to a free, longer program.
- An experiment offering deferred payment revealed high demand for accessible education, leading to Y Combinator's support and growth.
Strategic Fund Allocation
- Invest raised funds strategically in areas that directly improve student outcomes and operational efficiency.
- Focus on scaling teaching staff, developing supportive software, and building a strong hiring network.