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by nimish
2308 days ago
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If your definition of scam excludes those with at least one successful investor (of time, money, etc), then virtually all Ponzi schemes aren't scams. The early investors win, the later ones lose. It seems with Lambda school there do in fact exist successful candidates. But for a school advertising for everyone, and advertising a particular way of financing education, a majority are left holding the bag with a substandard education. And the school isn't even keeping its skin in the game by securitizing the loans and selling them off at 50%. You decide if that's scam worthy. |
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It is not realistic to have a 100% graduation rate. Obviously, some people will fail/not complete any training. A lot of that has to do with the expectations and commitment of the students.
Lambda is not a "scam". They have every intention of actually teaching and training people to become successful Engineers. They might be making numerous mistakes. They might even be doing a poor job. But they are not a "scam". People are successfully learning and getting jobs. Even if the real rate is closer to 50% instead of 80%.
If being manipulative in marketing makes the company a scam, then pretty much every company is a scam.
I think it is completely fair to critique Lambda and to point out deceptive promises. However, when you go overboard and try to characterize the whole business as a "scam", I think you are going too far. When you go overboard like that, you actually hurt your own argument.