Higher Education Disruption | Austen Allred on The 2 Cent Dad Podcast

Check out the Episode Page & Show Notes

Key Takeaways

  • Many colleges won’t reopen after COVID:
    • “I would say generally speaking over the next year with COVID, we’re going to see a lot of universities shut down.” – Austen Allred
  • Students today are hyperaware of student debt and the value of their time
    • There are more alternatives to college now than ever before, a college degree no longer guarantees a successful career
      • Austen predicts an increase in trade and vocational schools
  • “I think we will see kind of the unbundling of the university”Austen Allred
    • Just how newspapers got unbundled, education is next:
      • Sports section → Barstools/Twitter
      • Dating → Tinder/Bumble
      • Classifieds → Facebook/Google ads
  •  The world is shifting so quickly you can’t really take career advice from your parents anymore:
    • “I think taking career advice from your parents is going to be a worse and worse idea as time goes on” – Austen Allred
  • Even homeschooling is changing. More and more people are open to the idea:
    • “Now that average billionaire that I talk to is homeschooling their kids. That was not true 20 years ago.” Austen Allred

Intro

 About Lambda School

  • The origin of Lambda School was to take a great coding school and just put it online
    • Austin discovered that the #1 reason most people don’t go to a coding school is that they didn’t have the money to pay for tuition upfront so Lambda School started offering ISAs (income share agreements):
      • “You don’t pay us anything unless, and until you get hired making more than $50,000 a year. And then you pay us a percentage of your income for a couple years or $30,000.” – Austen Allred
  • One Lambda School student got hired without a college degree and is now making $240,000 a year 

Education Is Changing

  • Many colleges won’t reopen after COVID:
    • “I would say generally speaking over the next year with COVID, we’re going to see a lot of universities shut down.” – Austen Allred
  • Students today are hyperaware of student debt and the value of their time
    • There are more alternatives to college now than ever before, a college degree no longer guarantees a successful career
      • Austen predicts an increase in trade and vocational schools
  • “I think we will see kind of the unbundling of the university”Austen Allred
    • Just how newspapers got unbundled, education is next:
      • Sports section → Barstools/Twitter
      • Dating → Tinder/Bumble
      • Classifieds → Facebook/Google ads
  •  The world is shifting so quickly you can’t really take career advice from your parents anymore:
    • “I think taking career advice from your parents is going to be a worse and worse idea as time goes on” – Austen Allred
  • Even homeschooling is changing. More and more people are open to the idea:
    • “Now that average billionaire that I talk to is homeschooling their kids. That was not true 20 years ago.” Austen Allred

Additional Notes

  • “Everything is moving online”
    • COVID has accelerated WFH (work from home) for most companies
      • Google is allowing employees to WFH till summer 2021
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Notes By Alex Wiec

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