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$130 million raised, rebranded to BloomTech, then shut down. The idea was right. The execution was wrong.
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Free education, pay only when you get a job. The incentives were perfect. The execution was not.
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We claimed 86% job placement. The real number was lower. That dishonesty destroyed everything.
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ISAs sound simple: pay when you earn. Collecting across 50 states with 50 different regulations is a nightmare.
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Aligning incentives between school and student is easy to pitch and nearly impossible to operate.
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The biggest lesson: don't over-promise outcomes you can't guarantee. Students trusted us.