Podcast Summary
Clarifying Graduation Statistics Misunderstandings: Transparency is key when reporting data to avoid misunderstandings. Be clear about reporting metrics to prevent potential misconceptions for investors and the public.
Transparency and clarity are crucial when reporting data, especially in the business world. This was highlighted during a discussion on this week's "This Week in Startups" podcast, where the CEO of Lambda School, Austin Allred, addressed misunderstandings regarding graduation statistics. The misunderstanding arose due to a difference in reporting metrics between enrolled students and graduated students. Allred was open about the situation and clarified the confusion, emphasizing the importance of being transparent with investors and the public. It's essential to understand the context and meaning behind the numbers presented to avoid potential misconceptions.
The Importance of Transparency and Direct Communication in Media Interviews: Be open and forthcoming when responding to media inquiries, even if the journalist's intentions are unclear. Transparency and providing evidence to back up claims is the new norm for CEOs and influencers.
Transparency and direct communication are essential when dealing with media inquiries, even if the journalist's intentions may be unclear. In the discussed scenario, Austin, the CEO of Lambda School, defended himself publicly against what he perceived as a biased reporter. The reporter, who was not a journalist but another founder, became aggressive during an in-person interview, leading Austin to question the journalist's motives. The incident highlighted the importance of being open and forthcoming when responding to media inquiries, especially in today's digital age where information can spread quickly. Austin's approach of being transparent and providing evidence to back up his claims was the right response and has become the new norm for CEOs and influencers. However, it's important to note that media ethics and values vary greatly across different platforms, making it essential to assess each situation individually. Overall, the incident serves as a reminder that direct communication and transparency are crucial when dealing with media inquiries, especially in the age of social media.
Income Sharing Agreement: Pay after securing a job: Lambda School's innovative model allows students to pay no upfront tuition and instead share a percentage of their income after securing a well-paying job, making education more accessible and affordable.
Lambda School offers an innovative education model where students pay no upfront tuition fees but instead pay a percentage of their income after securing a well-paying job. The risk is entirely borne by the school, and if a student fails to secure a job above a certain threshold, they pay nothing. This model is particularly attractive to those who are debt-averse or have already accumulated significant student debt. Unlike traditional education, where students are saddled with debt regardless of their employment status or income, Lambda School's income sharing agreement provides a safety net. This approach has the potential to make education more accessible and affordable for a large segment of the population. Additionally, Lambda School offers training in high-demand fields like coding, making it an attractive option for those looking to transition into tech careers.
Lambda School's Unique Approach to Education and PR: Lambda School offers income share agreements, eliminating upfront tuition costs and focusing on student success, while facing criticism from journalists for sensationalized stories and biased narratives, the school remains committed to its mission.
Squarespace is a leading platform for creating beautiful websites, with user-friendly editing tools that enable teams to easily update content. Lambda School, on the other hand, is disrupting traditional education by offering Income Share Agreements (ISAs) that only require payment when students are successful in their careers. This eliminates the incentive for shady practices and has gained recognition from universities. Despite facing criticism from journalists, Lambda School's focus remains on the success of its students, with minimal impact on their operations. The ongoing trend in journalism, however, is to sensationalize stories for clicks, often targeting the tech industry with biased narratives. Lambda School's response to PR crises is to stay focused on its students and disregard negative attention, as the success of its students ultimately validates its mission.
Blurred lines between investigative and opinion journalism: Misplaced focus on opinion over facts harms real journalism, founders should communicate via email or DM, publish interviews on own platforms, podcasting and nuanced conversations will help restore truth in journalism.
The line between investigative journalism and opinion journalism is becoming increasingly blurred, and this trend is causing concern for those who value factual reporting. The speaker, a former journalist, expressed frustration with the rise of influencer-led institutions that prioritize opinion over facts and has seen firsthand the negative impact this can have on real investigative journalism. The example given was of a story about a potential coronavirus epidemic that was mocked and dismissed due to a misguided focus on handshakes, when the real story was the impending health crisis. The speaker advises founders to only communicate with journalists via email or DM, and to publish all interviews on their own platforms to ensure accuracy and context. Despite this, the speaker remains optimistic about the future of journalism, believing that podcasting and nuanced conversations will help to bring truth and fact back to the forefront.
Authentic conversations and effective hiring: Podcasting fosters authentic conversations, while LinkedIn Jobs simplifies effective hiring
Podcasting provides an opportunity for authentic and nuanced conversations that are not always found in traditional journalism. The ability to have lengthy discussions and ask hard questions creates a platform for truth and transparency. However, in today's media landscape, nuance is often overlooked in favor of sensational headlines. The conversation also touched upon the potential impact of social media and technology companies falling into the hands of those who may manipulate information for political gain. Hiring the right talent is crucial for business growth, and LinkedIn Jobs offers a solution by making the process simple and effective. The platform screens candidates based on both hard and soft skills, ensuring a good fit for the business. The success stories of companies like takeoffs.io, who have found qualified candidates through LinkedIn, further highlight its effectiveness. In summary, authentic conversations and effective hiring are essential in today's complex media and business landscape.
Supporting good journalism: Paying for investigative journalism enables journalists to focus on in-depth reporting, reducing clickbait and sensationalism. Founders and investors should engage with journalists for accurate info and constructive feedback.
The current state of journalism, particularly investigative journalism, is facing significant challenges due to broken incentives and the pressure to generate clicks. To address this issue, it's crucial to support good journalism by paying for it. This will enable journalists to spend more time on in-depth reporting and reduce the reliance on clickbait and sensationalism. Additionally, founders and investors should be open to engaging with journalists, providing them with accurate information, and offering constructive feedback when necessary. By working together, we can help restore trust in journalism and ensure that important stories are told accurately and fairly.
Twitter's Role in Spreading False Information and Its Impact on Society: Concerns about Twitter's handling of false information and its impact on society, along with Elon Musk's attempt to influence leadership, highlight the need for a balanced approach to social media use and potential regulation.
The debate around Twitter's role in spreading false information and its impact on society raises questions about the platform's responsibility and potential solutions. Elon Musk's firm, Eliot Management, has attempted to influence Twitter's leadership by nominating directors. Meanwhile, the U.S. State Department discovered millions of coronavirus tweets containing false information, fueling concerns about the platform's ability to combat misinformation. Despite personal addictions to Twitter, concerns about its impact on users' attention and productivity, as well as its role in the financial world, highlight the need for a balanced approach to its use and potential regulation. For instance, Lambda School's innovative financing model allows investors to fund student tuition and earn returns, reducing the reliance on traditional venture capital funding. This model could potentially lead to more sustainable and socially responsible uses of financial resources. Overall, the conversation underscores the importance of striking a balance between the benefits and challenges of social media and technology in our lives.
Lambda School's Income Share Agreement model aligns incentives: Lambda School uses ISAs to eliminate upfront costs, only charging students after securing a job with a certain salary, potentially leading to better outcomes and more efficient use of resources, but critics argue it privatizes education and could threaten public education's role.
Lambda School's business model, which uses Income Share Agreements (ISAs) instead of traditional student loans, aligns incentives between students, investors, and the company. This model allows students to access education without upfront costs and only pay once they secure a job with a certain salary. Critics argue that this privatization of education functions threatens the role of public education, but proponents believe it can lead to better outcomes and more efficient use of resources. The success of Lambda School and similar models depends on rigorous student selection processes to ensure a good return on investment. The traditional university system, with its low graduation rates and high student debt, could learn from this approach to make education more accessible and affordable.
Aligning incentives is crucial in education: Universities could improve student loan assistance and tech companies should focus on affordable solutions to address societal issues, while maintaining a balance between private and public education.
Aligning incentives is crucial in addressing societal issues, particularly in education. University executives had no incentive to help students with their loans because they were paid upon enrollment. The tech industry should invest in products that cater to people in middle America, solving important problems instead of just focusing on premium services. A good example is Dexter Learning, an affordable, student-led elementary school. However, there's a tension when it comes to private education versus public education. Any effort to make education accessible and affordable for all should be met with support. The controversy lies in private companies entering sectors previously monopolized by the government. Consumers have the power to opt out and competition ensures quality. Additionally, efficiency is essential for startups, and tools like Front can help manage emails more effectively.
Technology's Impact on Defense Industry: From email management to advanced defense solutions, technology is revolutionizing industries, including defense. Companies like Frontapp and investors in defense tech are ensuring ethical use through just war theory, while technology like sensors and drones offer effective alternatives to traditional methods.
Technology, whether it's for managing work emails or providing next-generation defense solutions, is playing an increasingly important role in various industries, including defense. Frontapp, a product that makes email management a team sport, can help businesses become more efficient. Meanwhile, investors like Catherine Boyle are backing companies in the defense technology sector, such as Vannevar Labs and Andrew Industries, which focus on providing the Department of Defense with advanced technology that wasn't previously accessible to them. The framework of just war theory is essential in determining what types of products these companies will build, ensuring they contribute positively to society. The use of technology, like sensors and drones, is seen as a more effective alternative to traditional methods, such as building walls. Overall, these advancements in technology are enhancing capabilities and solving complex problems in both the commercial and defense sectors.
Technology Companies and Defense Collaborations, Food Delivery Market Competition, and Ethics of Non-Lethal Weapons: Microsoft and Amazon work with the government in defense, while Google faces opposition. DoorDash files for IPO amidst food delivery competition, potentially thriving in the coronavirus environment. Ethical considerations, transparency, and innovation are crucial in technology, food delivery, and law enforcement.
The debate around technology companies working with the government, specifically in defense, continues to be a contentious issue. Some companies, like Microsoft and Amazon, are open to collaborating, while others, such as Google, have faced internal and external pushback. The transparency and clarity of a company's mission regarding such collaborations is crucial. Another topic discussed was the competition in the food delivery market, with DoorDash filing for an IPO amidst fierce competition from Uber Eats, Grubhub, and Postmates. Despite the intense competition, DoorDash's potential to thrive in a coronavirus environment due to the convenience of delivery was noted. Furthermore, the ethics and advancement of non-lethal weapons for law enforcement was brought up, with a call for innovation in this area. Overall, the conversation highlighted the importance of ethical considerations, transparency, and innovation in various industries.
Impact of Coronavirus Outbreak on Daily Life and Economy: The coronavirus outbreak could lead to a large number of cases, potential social unrest, empty store shelves, and disruptions to supply chains. However, some see potential benefits from increased productivity and virtual meetings.
The ongoing coronavirus outbreak is causing widespread panic and significant disruptions to daily life and the global economy. The virus, which has an R0 (reproductive rate) between 2 and 3, could lead to a large number of cases and potentially even social unrest if containment measures fail. This has already led to empty store shelves and concerns about the impact on supply chains. However, some see potential benefits from the situation, such as increased productivity from remote work and virtual meetings. It's important to note that the situation is fluid and the impact is still uncertain, but it's clear that significant changes are underway. Additionally, some people and communities have long-term food storage as part of their beliefs or preparations for emergencies, which could become more relevant in the current context.
Rethinking Cultural Norms: Handshakes and Personal Space: The COVID-19 pandemic highlights the need to reconsider handshakes and personal space for health reasons, with alternatives like the 'Wuhan shake' or elbow bumps and respecting personal boundaries.
The COVID-19 pandemic has provided an opportunity to reevaluate and potentially change cultural norms, specifically around handshaking and personal space. The speaker, who is known in the startup world for his internet fame, shares his experience of avoiding handshakes due to germs and suggests the adoption of a "Wuhan shake" or an elbow bump instead. He also expresses concerns about personal space and potential discomfort or inappropriate situations that can arise from physical contact. Furthermore, he criticizes cultural practices in certain countries, such as China's wet markets and Japan's lack of personal space, and suggests that these issues could contribute to the spread of diseases. Overall, the speaker advocates for rethinking and resetting cultural standards to prioritize health and safety.
Wet markets identified as potential hotspots for disease spread: The coronavirus outbreak has highlighted weaknesses in healthcare, food supply, and manufacturing systems. Lack of widespread testing and disrupted pharmaceutical supply chains are major concerns, while the closure of wet markets in China offers a potential solution for disease control.
The ongoing coronavirus outbreak has exposed weaknesses in various systems, including healthcare, food supply, and manufacturing. In the case of China, the wet markets, which are a significant source of food for many rural areas, have been identified as potential hotspots for disease spread. The Chinese government has since taken action to shut down these markets, but the same level of response has not been seen in the US. Another issue is the lack of widespread testing, which is making it difficult to accurately assess the scope of the outbreak and its impact on mortality rates. Additionally, the global pharmaceutical supply chain has been disrupted due to manufacturing shutdowns in China, raising concerns about the availability of essential medicines and testing supplies. These challenges underscore the need for redundancy and diversification in critical areas, such as food production, healthcare, and manufacturing. Companies, particularly those heavily reliant on global supply chains, are being forced to reevaluate their strategies to mitigate risks and ensure business continuity.
Transparency is key during crises for businesses: Being upfront and honest with users during crises is more effective than creating backup systems. Venture capitalists like General Catalyst focus on investing in highly regulated industries and providing regular updates.
Transparency is crucial during times of crisis for businesses, especially those in the stock trading industry. Robin Hood's system outage during a volatile market caused anxiety and frustration for users. Although creating a backup system for phone or email trades could be an option, it comes with its challenges. Instead, being upfront and honest with users about the situation and providing regular updates is the best approach. Additionally, investing in highly regulated industries, particularly during their early stages, can be an exciting opportunity for venture capitalists like General Catalyst. They focus on both seed and series A rounds, with checks ranging from $250,000 to $100 million pre-IPO. During a podcast discussion, Catherine revealed her interest in aerospace, defense, and computational biology. She also shared her past encounter with Austin and his company, Lambda School, and her admiration for their mission. Despite not investing in them at that time, she acknowledged the importance of their work. The podcast, called "Deal Flow," offers valuable insights into the investment world and the experiences of industry experts.
Staying true to oneself and challenging societal norms: Embrace resilience, communicate effectively online, challenge societal norms, and continue learning to succeed.
Resilience and staying true to oneself in the face of criticism and adversity are crucial for success. This was exemplified by the story of a woman who was encouraged by Bob Dylan's words and continued to challenge societal norms despite the challenges she faced. Additionally, open communication and building a strong online presence can lead to opportunities and growth. The use of social media and direct messages can be effective tools for networking and engaging with potential collaborators or partners. Furthermore, the importance of education and the need to challenge conventional thinking were emphasized. Starting a podcast on education and sharing unique perspectives can lead to a larger audience and influence. Lastly, the idea of being "uncancelable" was discussed, acknowledging that while some may try to silence voices, having a large following and a strong online presence can make it difficult to be fully canceled. Overall, the conversation highlighted the importance of staying true to oneself, utilizing communication tools effectively, and challenging the status quo.
