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I’ll play devils advocate. The industry is saturated. The world doesn’t need more programmers, the world needs better programmers.

Programming literate doesn't mean you work in the industry. It means you can work anywhere with the possibility to automate parts of yourself.

The intent of Lambda School (and how they make their money) is to train engineers for tech jobs.

If the quality of students from Lambda is low relative to the industry, that's a problem for both the student and the school.