#128: How Bloomtech's Outcomes-Based Loans Change College Financing Forever | Austen Allred

Austen Allred is the co-founder and CEO of BloomTech Institute of Technology. A native of Springville, Utah, Austen’s start-up journey began in 2017 with him living in his two-door Civic while participating in Y Combinator, a San Francisco-based seed accelerator. This experience became the foundation of BloomTech's rapid growth. Before founding BloomTech, Austen was the co-founder of media platform GrassWire. He co-authored the growth hacking textbook Secret Sauce, which became a best-seller and provided him the personal seed money to build BloomTech. Austen’s disruptive ideas on the future of education, the labor market disconnect, and the opportunity of providing opportunity at-scale have been featured in: The Harvard Business Review, The Economist, WIRED, Fast Company, TechCrunch, The New York Times, among others. Austen is fluent in Russian and currently lives in San Francisco with his wife and two kids. You can find him on Twitter @Austen.   11:03 "Since we are promising (at least implicitly) an outcome, what if we guaranteed that?" - Austen Allred 13:12 "Instead of using an income share agreement, we created something called the "outcomes based loan." - Austen Allred 14:21 "It's also about where you're placing people." - Brian Keith 15:20 "A student should have a job offer by the end of this hiring day." - Austen Allred 16:48 "Why shouldn't you get a job in a day?" - Brian Keith 17:52 "It ends up with the same great job... you just kind of go in through the side door instead of the front door. - Austen Allred 21:21 "It's a broken system." - Austen Allred