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by sJ646U9k6c6gME9
2095 days ago
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The idea of Lambda is great, but their execution has been shit. First off, the ISAs are securitized and resold. Lambda has zero incentive to do anything above and beyond pushing students through some percentage of the program. Second, Lambda’s level of instruction in the software tracks is abysmal. I’ve witnessed someone in my household go through Lambda. Day after day she struggled to stay on top of a constantly shifting and poorly organized curriculum. It was taught by an incredibly inconsistent and constantly rotating cast of instructors. The only thing Lambda did provide with some consistency is structure & discipline. There are certainly people who won’t study anything on their own outside of an externally imposed framework that provides a daily cadence of learning as well as regular milestones. In this sense Lambda is a calendar priced like a mid-size family sedan. Third, Lambda’s career guidance and job placement assistance - both of which are advertised as part of the package - are simply laughable. It consists mainly of asking newly hired alumni to post their job offers in a highly visible Slack channel. This is meant to encourage participants to look for jobs “because surely you can do it if those other people can”. Otherwise Lambda doesn’t do anything to help one polish their resume or find jobs through networking. Last but not least, the ISA’s monthly payment is calculated based on gross pay before taxes are netted out. When viewed through this lens, the payment is a lot steeper than originally advertised. Buyer beware. |
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I disagree with your analysis of the incentives here. The price people pay for tomorrow's securitized ISAs depends heavily on how well today's ISAs pay off. It's a delay in the feedback loop, but it isn't broken.
That being said, this incentive alone is likely weaker than the prevailing incentives in for-profit education, which seem to encourage saving a buck wherever possible and over-promising, under-delivering.