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CodeSmith is a Sinking Ship - Get a refund

r/codingbootcamp

u/NoOutlandishness00 wrote (the comment Michael replied to):

tbf, this has been coding bootcamps in 2023-2024 in general and not exclusive to codesmith. Tech has been rough and app academy went through the same thing last year

u/michaelnovati replied · · edited ★ FEATURED
I was doing some illustrative math. THESE ARE NOT FACTUAL NUMBERS, THERE ARE ESTIMATES FOR ILLUSTRATIVE PURPOSES AND THE SOURCE OF THE GUESS SPECIFIED. In early 2023, Codesmith had 4 full time cohorts (running every 7 weeks - roudning up ) and 1 part time (running twice a year), and seemed full or with waitlists So that's 7.4 cohorts a year (let's say 7) = 28 full time cohorts + 2 part time. Let's say 32 people per cohort average (a full is 36 but's lets again round down) That means = 960 people starting, @$21K = $20M of revenue Now the current state: 1 full time cohort (running every 7 weeks) = 7 per year full time cohorts + looks like 4 part time from their website Enrollment end of 2023 was 'averaging 26 people' from one of the info sessions, so let's use that That means = 286 people, $6M of revenue ------- That's not just a drop, that's like a 70% drop in enrollment and revenue. I have no idea if this magnitude of drop is similar to all bootcamps, I would assume it is, but I would not be chalking this up to a 'this is the norm' type argument. I guess while were all around here talking about bootcamps, maybe we're all the unintelligent ones and the smart people have moved on to other things already...