Thanks for sharing. Springboard is a startup and has been a large shift in this climate to startups being profitable. Springboard had raised funding during the boom times based on its rapid growth and I'm sure the job guarantee helped fuel that growth too. In a good market where people get jobs that job guarantee wasn't really necessary because people were getting jobs before then. And now when people are not getting jobs, we see that the job guarantee is not a stable business model.
At the end of the day, they have employees they are paying and they are offering you services and they are teaching classes and they are giving you materials and all these things and someone has to pay for.
If you use all the services and then don't pay a single penny then you got something great for free, so of course that's why you would sign up. But it's not a stable business model and right now companies can't get more funding to keep them going anymore.
u/BeginningLimit6287 wrote (the comment Michael replied to):
I don’t think anything in this post really says they’re “falling apart”. People who have only a bootcamp and a couple of projects on their resume are having an extremely hard time getting interviews. That is a statement about the current tech job market not whatever is going on w
u/michaelnovatireplied·
I agree about taking too much from it, but the fundamental point of if you have enough grads that are owed refunds that you weren't planning for, it could brankrupt a company or result in massive layoffs to pay back people. The fact they are delaying those guarantees for 3 months is a sign that might happen, and people should look more into that because it will impact the experience.