I witnessed the quality of education provided in the areas of design and product management and I wasn't impressed. To me GA felt like a predatory business that provided a very superficial veneer of legitimacy to extremely unqualified candidates. The good ones going in would be well served by the networking but people that didn't know anything about the field would crash and burn at their first contact with the reality of the industry.
I'm not one of those people hung up on traditional college education, I got my degree mostly studying by myself and always found most of what my college offered useless, so I'm not coming from the angle of "you need an x year college degree for this...".
I realize this is an harsh opinion but it's not cool to get north of $10k from people that need a job and tell them "we'll make you a designer in 3 months", that just doesn't happen.
"Over time, General Assembly became less of a consumer facing business and transitioned into one that was serving primarily business clients — which means access to Adecco Group’s over 100,000 businesses is a big boon to the company’s continued expansion plans."
I thought this was interesting. Anyone know more about the services General Assembly was offering to businesses? I guess there is more money and less risk associated with this market. Going after the public / the bootcamp model means you run into accreditation laws surrounding educational institutions and you have to do more work (e.g. tracking placement rates).
4 times revenues is pretty good for a company like that. Lots of physical presence required, a ton of handholding so it doesn't scale nearly as well as your typical 'SaaS' or other software company. Well executed and well negotiated.
Is it safe to say the bootcamp boom is over? For a while, it seemed like everyone and their cousin was starting a bootcamp, trying to cash in on the gold rush. Now, most of the biggest ones I know of (GA, Flatiron, Dev Bootcamp (RIP)) have been gobbled up.
I hope this doesn’t result in some form of debt peonage temp work, but having worked some Adecco jobs when I was younger, I wouldn’t put it past them. In my experience, they were mostly recruiting for jobs in really toxic workplaces that couldn’t otherwise attract talent, and that were described as “temp-to-hire,” but that never worked out that way. They would get rid of people once they had pushed them to the limit of contracting laws or if you in anyway complained about/reported anything at your job site.
I could easily see this devolving into some kind of debt-based H1B system, where they drastically overprice a bootcamp education that they give for “free” to desperate jobseekers, and then use to lock them into underpaid roles at bad workplaces that can’t recruit technical talent without this kind of predatory leverage.
After watching someone go through their training, I'm not very impressed. They also enormously inflate their job placement statistics by giving graduates a difficult set of hoops to continually keep jumping through in order to be counted at all. For example, miss posting a blog one week, poof!, you're no longer counted in their placement statistics.
It seems cheap to me. I did some digital marketing course there. The classes are more on the basic side but certainly a good intro for some basics in programming and digital business.
Note that this isn't cheap because training doesn't scale like software businesses. That means the revenue multiple is lower than for a software company.
Is it just me or did they sell for pretty cheap? Congrats either way!
Surprised it wasn't WeWork