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throw123123123 commented on CFPB Takes Action Against Coding Boot Camp BloomTech and CEO Austen Allred   consumerfinance.gov/about... · Posted by u/Jimmc414
ceejayoz · a year ago
More than these folks did, for sure.

> BloomTech falsely claimed its “income share” agreements were not loans, did not create debt, did not carry a finance charge, and were “risk free.” In fact, the agreements are loans with an average finance charge of $4,000. The loans carry substantial risk, as a single missed payment triggers a default and the remainder of the $30,000 “cap” becomes due immediately. BloomTech further hid the cost and nature of the “income share” loans by not disclosing key terms like the finance charge and annual percentage rate, as required by law.

Student loans from a legitimate lender don't come with balloon payments, the APRs and any finance charges are clearly disclosed, etc., and they're not making up graduation rates.

throw123123123 · a year ago
Federal loans are not dischargeable, which are way way worse than this.
throw123123123 commented on CFPB Takes Action Against Coding Boot Camp BloomTech and CEO Austen Allred   consumerfinance.gov/about... · Posted by u/Jimmc414
ceejayoz · a year ago
Any you’d like to highlight that come anywhere close to “we picked a sample size of one student” or “no finance charge means $4k finance charge”?
throw123123123 · a year ago
Do they tell students they may be saddled with debt for 30 years and that the cost of tuition is much larger than the incomes they get from their majors?
throw123123123 commented on I'm Peter Roberts, immigration attorney who does work for YC and startups. AMA    · Posted by u/proberts
lolinder · a year ago
What this person says is already contradicted by the immigration attorney who started this AMA.

I'm amused and perplexed at all of the "I'm not a lawyer, but..." comments when this is literally an AMA with a lawyer.

throw123123123 · a year ago
I'm sure Peter Roberts is a fine professional, however, I have passed border patrol/immigration personally this way dozens of times and know of many other people who do it. You can find people doing this in an instant if you want.

I once got in trouble with BP because they didn't believe me that I was coming in to work on a project and thought I would be looking for a job to stay illegally. BP finally decided to let me in and told me that what I was doing was fine, but they just didn't find it credible that I would leave my GF alone for a month in Argentina.

throw123123123 commented on I'm Peter Roberts, immigration attorney who does work for YC and startups. AMA    · Posted by u/proberts
proberts · a year ago
That still would cross the line even if that wasn't your plan when you entered.
throw123123123 · a year ago
Sorry, but this can't be right. Companies fly in people on B2 visas all the time to do onboarding, work on specific projects for a short period, and participate in offsites.

I've done this 10+ times in my career, for big and small companies, and it was never an issue even when explicitly saying these things with border patrol/immigration.

What gets you in trouble at the border is the risk of permanently staying, and the risk of drugs&money.

throw123123123 commented on Anime is a $25B industry that pays its animators pennies   hitregbroke.com/anime/... · Posted by u/methou
jongjong · 2 years ago
I bet a lot of people are thinking "Why don't they do their own animes" but this neglects the reality that all distribution pipelines for any kind of media have been totally monopolized. The anime creator has zero bargaining power over the media monopolist.
throw123123123 · 2 years ago
There's the internet.
throw123123123 commented on Five richest men double their money as poorest get poorer   theguardian.com/inequalit... · Posted by u/ciconia
itchycoo-park · 2 years ago
Here's a fun exercise: Take a look at the Forbes Rich List for 2020-2021, and find me a billionare who lost wealth.

What we did over those years will be recorded as one of the single biggest wealth transfers in history.

throw123123123 · 2 years ago
Why not creation of wealth?
throw123123123 commented on Canada plans brain drain of H-1B visa holders, with no-job, no-worries permits   theregister.com/2023/06/2... · Posted by u/Bender
throw123123123 · 2 years ago
If only you applied the same logic to americans
throw123123123 commented on Big Tech Resumed Hiring Foreign Workers Just Weeks After Layoffs   leefang.com/p/big-tech-re... · Posted by u/AndrewKemendo
thaumasiotes · 2 years ago
Well, consider a different scenario.

I was on a two-person team that was, due to recent client poaching, pretty severely overstaffed. Our manager had just been promoted and we got a new one hired in.

He viewed our lack of work to do as temporary and started recruiting. He eventually hired a third member and we started training her. After the first day of training, I was fired with no notice and no severance. The manager remarked, in the surprise exit interview, that he had taken a look at staffing recently and we had too much.

There are a couple interesting things to consider here:

1. We had been severely overstaffed (as advertised!) for several months before he even started hiring. He was well aware of it.

2. My team's original manager had offered to me that I was free to live anywhere in the world, as long as it had an internet connection. He left the team so soon after I joined that this didn't happen. But the new manager gave many indications of being acutely uncomfortable with the idea that I had made a request that he wasn't willing to grant immediately.

My question to you is, was I fired because we were overstaffed, or was that mentioned in the exit interview for no particular reason?

And my followup question is, did the companies discussed here do layoffs because they were overstaffed, or because they felt they had the right amount of staff, but they wanted to pay them less?

throw123123123 · 2 years ago
I dont know, but companies need to keep hiring because of both staff turn over and switch of priorities. Presumably, the people getting hired are for positions that are perceived more valuable by management than the work people being let go are doing.

And of course, companies also have practical right to make mistakes, from overstaffing to understaffing, or to place bets that do well or do not.

The point is that these things would happen even if things were being run perfectly, so they are not indicative of nefarious practices or abuses.

throw123123123 commented on Big Tech Resumed Hiring Foreign Workers Just Weeks After Layoffs   leefang.com/p/big-tech-re... · Posted by u/AndrewKemendo
mathgeek · 2 years ago
The implied “problem” is that these companies are loopholing the H1-B process to hire for positions that American workers were laid off from. Of course, lawyers know how to make things work.

> The intent of the H-1B provisions is to help employers who cannot otherwise obtain needed business skills and abilities from the U.S. workforce by authorizing the temporary employment of qualified individuals who are not otherwise authorized to work in the United States.

throw123123123 · 2 years ago
The H1b requirement is the loophole to prevent americans from hiring non-americans. A world without loopholes is a world without H1Bs.
throw123123123 commented on Big Tech Resumed Hiring Foreign Workers Just Weeks After Layoffs   leefang.com/p/big-tech-re... · Posted by u/AndrewKemendo
throw123123123 · 2 years ago
I don't see why that is inconsistent. Companies doing layoffs keep hiring people, what are the news?

u/throw123123123

KarmaCake day245March 8, 2021View Original