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November 23, 2021

College is absurdly expensive. Can a radical new model change that?
With Austen Allred, Co-Founder & CEO of BloomTech. Since filming, Lambda School has rebranded to Bloom Institute of Technology.
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When Austen Allred was going to high school, nobody said anything other than: "Go to the best college you can, pay whatever it costs, study what you love. ‘Because as long as you graduate from college, you will be set for the rest of your life." After having been preached this for decades, Austen’s generation was one of the first to realize that that's fundamentally not true. Today, we're getting to a point where people are rethinking college education, and they're weighing the costs and the benefits.

There are a number of schools that if you just look at the outcomes of the students that attend relative to the debt that those students incur, most students would have been better off not attending that school in the first place. This is what sparked Austen’s idea for Lambda School - a radical new model to college education.

Lambda School is entirely online, and they train people to be software engineers and data scientists for no upfront tuition in exchange for a piece of what you'll make later. At Lambda School, you don't pay until you're hired.

Since filming, Lambda School has rebranded to Bloom Institute of Technology.

Read the video transcript: bigthink.com/videos/alternative-education


About Austen Allred:
Austen Allred is the Co-Founder and CEO of Lambda School. A native of Springville, Utah, Austen’s start-up journey began in 2017 with him living in his two-door Civic while participating in Y Combinator, a San Francisco-based seed accelerator. This experience became the foundation of Lambda School’s rapid growth.Before founding Lambda School, Austen was the co-founder of media platform GrassWire. He co-authored the growth hacking textbook Secret Sauce, which became a best-seller and provided him the personal seed money to build Lambda. Austen’s disruptive ideas on the future of education, the labor market disconnect, and the opportunity of providing opportunity at-scale have been featured in: The Harvard Business Review, The Economist, WIRED, Fast Company, TechCrunch, The New York Times, among others. Austen is fluent in Russian and currently lives in San Francisco Bay Area with his wife and two kids.


Read more of the stories on alternative education and college:
The problem with the push for more college degrees
►► bigthink.com/the-present/college-degrees/
College education is still a class luxury in America. PeerForward is changing that.
►► bigthink.com/the-present/college-low-income/
American education: It’s colleges, not college students, that are failing
►► bigthink.com/the-present/us-college-graduation-rate/


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