Y Combinator Startup Podcast #120 - Austen Allred
Apr 3, 2019
Austen Allred, CEO and co-founder of Lambda School, discusses the innovative education model that offers coding courses with payment only after securing a job. He dives into the accessibility of tech education, advocating for practical learning over traditional degrees. Austen also addresses the importance of networking and the challenges of fundraising, sharing personal anecdotes from his entrepreneurial journey. He reflects on the nuances of remote work and the evolving landscape of education, emphasizing inclusivity for underrepresented candidates.
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From VC Aversion to Funding
- Austen Allred initially avoided VC funding after a previous deal fell through unexpectedly, leaving his company without funds.
- He then opted to bootstrap and demonstrate his skills by writing a successful growth book, ultimately attracting job offers.
Mispriced Human Capital
- The human capital market is inefficient, leading to mispriced talent and unrealized potential.
- Lambda School aims to address this by providing access to high-paying jobs and empowering individuals to negotiate fair salaries.
Addressing Labor Shortages
- Lambda School identifies labor market shortages and develops training programs to address them.
- They are exploring opportunities beyond software engineering, such as nursing, to fill critical gaps and improve market efficiency.