BloomTech tried to fix career education with one irresistible wager: the school would win only when the student did. The wager attracted $122 million, thousands of learners - and a reckoning over what it really means to share the risk.
The New York fintech began with a provocative bargain: fund a young person now and share in their future income. Its retreat into ordinary loans is a compact lesson in why financial products must be understandable before they can be clever.