THE MAGAZINE OF THE AT THE UNIVERSITY OF CALIFORNIA, BERKELEY University of California, Berkeley Nonprofit Organization Haas School of Business US Postage 545 Student Services #1900 PAID Berkeley, CA 94720-1900 Portland, OR Permit NO. 2917

BerkeleyHaasFall 2014 12 TRAVEL FORECASTER 3 RECORD BREAKING 22 AN ENDURING LOVE FOR CAL The legacy of the late Ralph Bahna, MBA 65, An unprecedented number of women join Celebrating the life of Dean Emeritus ripples throughout the travel industry full-time and executive MBA classes Earl F. (Budd) Cheit

1995 · 2000 0 · · 20 99 05 1 · · 2 5 0 8 1 9 0 1 · · 2014 Business 2 0 0 8 April 23-26 1 Leader of the Year 9 4 1 MBAMBA REUNIONREUNION WEEKENDWEEKEND Green Power Player Stuart Bernstein, BS 86, of Goldman Sachs shakes 2015 up investment banking with his passion for clean energy and Relive the best of your MBA experience! the environment Catch up with classmates, listen to engaging lectures, make new connections, and bring your family back to campus.

Everything you loved about getting your MBA—with no exams.

HAAS.BERKELEY.EDU/REUNION Fall 2014

FEATURES AND DEPARTMENTS The Question the Status Quo Issue EXECUTIVE EDITORS Richard Kurovsky UP FRONT Ute Frey MANAGING EDITOR Amy Marcott

DESIGN Cuttriss & Hambleton, Berkeley

STAFF WRITERS Laura Counts, Kim Girard, Pamela Tom 2 Haas List Haas celebrates a record CONTRIBUTING WRITERS percentage of women MBA Edmund Andrews, John students. Deever, Mandy Erickson, Elaine Larsen, Kathleen 4 Haas News Maclay, Dan Mitchell, Dean Rich Lyons on the power Marguerite Rigoglioso, of the Berkeley-Haas brand. Nate Seltenrich 6 Power of Ideas Prof. John Morgan on entre- PHOTOGRAPHY preneurs and risk taking. Noah Berger, Jim Block, Michael A. Fullana, IN THE BACK Kaung Htet, Joe Larese, Jeremy Stanford, Felix Uribe

ILLUSTRATOR Richard Mia

At age 46, successful Goldman Sachs investment banker Stuart Bernstein, BS 86, shifted his career BerkeleyHaas magazine is focus from high finance to promoting clean energy and slowing climate change—despite market published by the Haas School conditions that seemed unfavorable to such a move. Goldman Sachs has dominated clean-tech of Business, University of deal making ever since. page 8 California, Berkeley. For further information, contact: BerkeleyHaas 14 8 Green Power Player Your Haas Network Magazine Editor Stuart Bernstein, BS 86, the Haas School’s Business Leader of the Year, Alumni from the Democratic Haas School of Business has questioned the status quo his entire career. As managing director and Voice of Burma, Yahoo!, the University of California partner at Goldman Sachs and global head of the firm’s clean technology Fistula Foundation, PBS and Berkeley, CA 94720-1900 and renewables and venture capital coverage groups, he’s proven that what’s YouTube video channels, BerkeleyHaas Fall 2014, good for the environment can also be profitable. Banyan Nation, and the Miami-Dade Corrections and Number 87. Rehabilitation Dept. For change of address, email 12 Travel Forecaster 18 Campaign for Haas [email protected]. Finance trailblazer Margo The late Ralph Bahna, MBA 65, the founder of and former Alexander, BS 68, helps chairman of Priceline.com, has been awarded the Haas School’s Leading Haas craft its vision for Through Innovation Award in recognition of his pioneering advancements social impact. in the travel industry as well as his revolutionary vision that continues to influence the Berkeley-Haas curriculum. 20 Worldwide Events The >play Digital Media Conference. 22 An Enduring Love for Cal 24 Alumni Notes Berkeley-Haas would not be what it is today were it not for Dean and Profes- 39 In Memoriam sor Emeritus Earl F. (Budd) Cheit, who passed away in August. His foresight, 40 Personal View compassion, and determined grasp of what a business school could be ush- Laurie Peterson, MBA 11, ered in the school’s growth and modernization. He was also a pioneer in the shares how she’s built a study and teaching of the impact of business on society. startup without VC funding.

Cover photograph by Noah Berger Fall 2014 1 Haas List

MBA 3 Shattering Undergrads Alumni Transforming Lean In, written by Facebook COO Sheryl Sandberg. Students Healthcare Records Dream UC Berkeley is one of only Undergrads seven top schools nation- 4Alumni It’s a banner admissions year for Game Changers wide offering cognitive Leaning Fulfilled computing courses using Men of Steel women in Berkeley MBA programs. In October, the In Incoming full-time MBA students It may have taken Hugh D. IBM’s Watson supercom- 5 More than Williams more than 70 years to ceremonial final steel 1 puter. Solomon Darwin, 50 Berkeley-Haas included a record 43 percent women. earn a UC Berkeley degree, but at age 101, he finally beam was placed atop executive director of the 8 Eshleman Hall, the new undergraduates headed The 241 new students in the class did it. Williams received the diploma in September, Garwood Center for Corpo- student union complex to Sept. surrounded by his family at the senior complex in rate Innovation, is teaching were chosen from an applicant pool on Lower Sproul Plaza. 18 to be part of an Cupertino, Calif., where he lives. “Open Innovation, Lever- All of the steel for the exclusive live audience with one of the highest percentages Williams was attending UC aging IBM Watson” with Ad- project—support beams, with Facebook Chief of women ever, says Stephanie Fujii, Berkeley when World War II started. junct Associate Research handrails, and the Operating Officer Sheryl A physical issue prevented him Prof. Donald Wroblewski. assistant dean of the Full-time MBA like—was supplied by Sandberg, author of from joining the military so he took The 24 undergraduates Program and Admissions. The Execu- Hayward-based Glazier the NYT bestseller Lean a job in a machine shop supporting craft new healthcare appli- Steel, co-owned by Tom In. The live webcast tive MBA program admitted a record the war effort. He married a fellow cations for Apollo Hospi- Glazier, BS 04. Rick Liu, covered how Berkeley- UC Berkeley student, the late tal Group, Asia’s largest 31 percent women to its class this BS 05, is CFO. “When I Haas students could Ardell Rademacher, and continued healthcare organization. year, compared to a national market- working as a machinist to support bring Lean In to campus Hugh D. Williams High-level IBM executives and why Lean In Circles place average of 15 percent. And the his family. He never graduated. shepherd the four teams, work for peer support. Evening & Weekend class nudged A UC Berkeley advisor told Williams that if he one of which will compete Sandberg also shared close to a record number of women petitioned to graduate, the university would probably for $100K. “I want students career advice and grant it, but he never did. Some months ago, Williams to realize that with these explained why today’s with 28 percent, up from 26 percent confided to his daughter that he regretted not digital tools they are capable students have the last year. Haas leaders, admissions pursuing his degree. So his daughter contacted of addressing one of society’s potential as a generation and program staff, faculty, and stu- Barbara Felkins, assistant director of academic grand challenges—global to reach true equality. affairs for the undergraduate program. Felkins healthcare—by building dents have made it a priority to im- found the microfiche of Williams’s transcript and disruptive business models prove gender balance at added it to the current campus database. Using the for emerging markets,” Haas Awards the school. Dean Lyons requirements published for the class of 1941–1942, says Darwin. High she determined that Williams had completed his Oakland A’s General Manager Billy Beane and NY Mets General Manager Sandy Alderson. was among a group of Honors degree requirements. History was made for the 14 top business school centenarian. MBA 6 Cardinal Oakland A’s legends Billy Beane and Sandy Health CIO Patty leaders who visited the Alderson surprised 241 full-time MBA students Morrison received the White House earlier during orientation week to discuss how their use Global third annual Fisher- this year to outline best Faculty of advanced data transformed baseball talent Hopper Prize Sept. 18 Challenge for lifetime achievement practices for cultivating management—a feat immortalized in the Two Evening & Weekend Rising Star Rick Liu, BS 05, CFO of Glazier as a CIO. The prize is women leaders. 2Berkeley MBA students have been awarded by the Fisher Michael Lewis book (and later movie) Moneyball. Steel, and Tom Glazier, BS 04, Assistant Professor “[General] managers thought for a long time that shortlisted in a competition to help the VP and co-owner. CIO Leadership Program 7 Sameer B. Srivastava British nonprofit World Child Cancer at Haas. Her 30-year 9has been awarded a Schwabacher we couldn’t bring some of the principles used in (WCC). The pair are among 40 students applied to Haas, I wrote career includes IT Fellowship, the highest honor Haas real estate or financial business to baseball,” on seven finalist teams in the Financial in my essay how I wanted leadership roles at bestows on assistant professors. Times MBA Challenge, which seeks to make a mark on the Motorola, Office Depot, The award is intended to recognize Alderson said. “Moneyball caused a revolution Sameer B. Srivastava among owners.” Moneyball details how Beane business plans for the long-term Bay Area skyline through and Pepsi Co., spanning up-and-coming faculty stars sustainability of WCC’s programs in the company that was industries including and includes a small cash award, used scientific analysis to assemble a team of developing countries. WCC partners started by my dad in high tech, consumer a research grant, and a modest instructional point undervalued players. On a shoestring budget, the with hospitals and healthcare workers 1979,” says Glazier. products, retail, and credit. Srivastava’s research focuses on the formation, A’s broke an American League record in 2001, in Africa, Asia, and Central America “Seeing that happen at healthcare. She’s also dynamics, and consequences of social networks to increase children’s access to drugs Berkeley is particularly mentored other rising within organizations. He teaches Power and Politics winning 20 consecutive games. “We are data- and treatment. Matt Volm, MBA 16, rewarding.” Also sporting IT managers, 20 of whom in Organizations for MBAs and two Haas executive driven and pretty ruthless in our implementation,” is focusing on Ghana. Rekha Iyer, Glazier steel on campus: are now CIOs. programs: the Women’s Executive Leadership Program Beane said. “We really want to remove our MBA 15, helped develop a plan to use the new art museum and Strategy in Competitive Markets. mobile technology to raise funds for a under construction and emotions from the decision making.” Bangladeshi hospital. the Pacific Film Archive. MBA students during 2 BerkeleyHaas orientation week Fall 2014 3 Up Front Up Front

Follow Dean Rich Lyons Haas News on Twitter @richlyons.

BY THE NUMBERS DEAN’S LETTER Undergraduate Global Connections New CEE head announces executive New Faces Program Soars in Staff members focus on services for alumni the Rankings program in India Two new staff members will help connect alumni to Berkeley-Haas will teach one another and boost lifelong learning programs innovation and leadership and career services. Sarah Hernandez, the director #1 principles in India this Return on investment of alumni relations, will cultivate and develop the November with a new executive (ROI) for in-state students, alumni network through events like the popular program designed for business according to Poets & faculty roadshows. She’ll also work with volunteers to Quants. The ranking is leaders there. strengthen existing Berkeley-Haas Alumni Network based on research by “CEE is excited to launch this chapters and help launch new chapters. Hernandez PayScale for its 2014 program in India,” says Jeff has many years of experience helping B-school alumni College ROI Report. Rosenthal, the new CEO of communities thrive. Most recently, she was the senior View the ranking: the UC Berkeley Center for associate director for regional programs and lifelong Executive Education (CEE). haas.org/haas-roi. STANFORD JEREMY PHOTO: learning at Stanford Graduate School of Business. Rosenthal, previously with Haas Professor and former Dean Laura Tyson and Federal Reserve Jeff Rosenthal is the Prior to Stanford, she established the West Coast new CEO of the UC Korn Ferry, is a former lecturer alumni relations office for the Kellogg School Chair and Haas Professor Emeritus Janet Yellen. Dean Lyons flanked by Nikhil Arora and Alejandro Velez, both BS 09, co-founders of Back to the Roots at $1.1M Berkeley Center for at Berkeley-Haas and assumed of Management. their Oakland headquarters. 20-year net ROI for in-state Executive Education. his post in August. “Given students. Lara Klein, BA 90 (psychology), is associate director India’s growth and importance of the Haas MBA Career Management Group (CMG). Capitol Projects in the global business community, we are happy to She offers one-on-one coaching for MBA alumni in Berkeley EMBAs get inside track on how be playing a part in developing great leaders there.” any stage of their careers—for example, mid-career Brand Pride #2 The one-year program aims to enroll approximately ROI in the same Poets Washington works executives seeking a promotion and parents looking We Are All Berkeley-Haas & Quants article for 50 director- and VP-level executives, primarily from to rejoin the workforce after raising children. All MBA Federal Reserve Chair and Haas Professor Emeritus I regularly hear from fellow alumni that they feel more pride than ever in the out-of-state students. India, but also from neighboring countries in South alumni receive six free coaching sessions a year via Janet Yellen was one of many Washington luminaries institution that we all share. This growing sense of identity, accomplishment, and and Southeast Asia. It includes four weeklong the CMG, held in person or over the phone. Sign up to meet with students in the Berkeley MBA for aspiration has been in process for decades. We created it together. And we will modules taught by Haas professors, focusing on through CareerNet at haas.berkeley.edu/alumni/ Executives Program during their immersion week last continue to feed it together. $1M leadership, innovation, strategy, and product benefits. Klein, who has extensive coaching and HR July in the nation’s capital. Less often, I hear from alumni who graduated prior to the 1990s that their 20-year net ROI for management and communications. Berkeley-Haas experience, will work with alumni relations to plan Haas Prof. Laura Tyson, who has served as an résumés and other references to our school say “School of Business, UC Berkeley” out-of-state students. alumni qualify for preferential pricing for all programs for alumni chapters nationwide. The CMG economic advisor to Presidents Clinton and Obama, but do not mention the Haas part of our name since the school we share was not open-enrollment programs. also offers nearly 100 webinars each year, networking leveraged her extensive professional and personal called that when they graduated. events, workshops, a worldwide career advisor referral #2 networks to reveal multiple perspectives on the I want to assure you that we’re all the Haas School of Business at UC Berkeley. U.S. News & World network (fee-based), and networked job-search teams. relationship between business and policy. FEEDBACKFEEDBACK From From Our Our Readers Readers You will have noticed that we, too, are referring to the school in new ways, the name Report, tied with MIT. Students attended meetings and events that of this magazine being a perfect example. The word “Berkeley” is where the power yielded insights from members of Congress, White Reading Professor Terrence in our brand is globally—we never want to lose that. I generally refer to “Berkeley- House policy makers, ambassadors, lobbyists, and Hendershott’s claim in his interview Haas” when I speak externally now. This gets the B-word right out front. It also #4 journalists. “The EMBA DC Immersion Week provided honors the Haas name that we all share in as well. In more formal settings, I use USA Today ranking among with Pamela Tom that there is what was truly a once-in-a-lifetime opportunity to “Haas School of Business, UC Berkeley.” the top 10 business majors. no “conspiracy” to rig the stock interact in a substantial way with the very top level market against ordinary investors Why do some alumni hesitate to use the name for which our school is now known of leaders in Washington,” says Peter Yang, EMBA 14. reminds me of Captain Renault’s in the marketplace? The answer, I think, comes from their experiences in industry. The Washington, D.C., trip is one of five immersive statement in the movie Casablanca: Take the big four public accounting firms. Someone who retired from one of those experiences emphasizing experiential learning, “I’m shocked, shocked to find that four firms’ predecessor companies would never say that they worked for the firm as collaboration with elite companies, and networking it is known today. They really are separate institutions. Corrections: gambling is going on in here!” with high-level business and policy experts. Berkeley-Haas is a different story. We are the same institution with the same UC Summer 2014 Issue Perhaps Hendershott chooses to believe that high frequency traders (HFTs) spend Berkeley mother ship, the same mission we’ve always had, and the same values. The profile of Jennifer millions to place their servers within inches of the Our Defining Principles attest to that. They codify the long-standing culture of our Eccles, MBA 86, included various exchange servers and pay millions more to school and articulate our personality, regardless of when you graduated. Our name text from an earlier draft major investment banks to sit inside their “dark pools” has evolved as has our school in various ways. But the core is the same. We are all and not the final copy. We just for good luck. I have personally experienced Berkeley-Haas. apologize for this error. some of my trades being “front ended” by whomever And as a cohesive community, we support our own. Referring fellow Berkeley- Please view the correct it was (HFTs, banks, institutional investors?) because Haas alumni for jobs, steering talented prospective students our way, using our text at BerkeleyHaas I naively placed them as market, not limit, orders. If network to make introductions, hiring Haas, and sharing your story—all of these magazine online or on our Prof. Hendershott paid attention to all of what Michael reinforce our values and make Berkeley-Haas even stronger. BerkeleyHaas app. Lewis wrote about in Flash Boys he would know that Sincerely Yours, In the article, “Entrepreneurs it isn’t just HFTs that are gaming the markets but also Named Executive Fellows,” their big partners in deceit on Wall Street itself. retired Hewlett-Packard STANFORD JEREMY PHOTO: Charles McCormack, MBA 76 executive Barb Waugh should EMBA students surround Alan Greenspan, former chairman of have been included as a the Federal Reserve, and his wife, NBC News Chief Foreign Affairs Tell us what you think about this issue. Send feedback to: Director of Alumni Relations Sarah Hernandez and Associate Rich Lyons, BS 82 current executive fellow. Correspondent Andrea Mitchell. [email protected]. Director of the MBA Career Management Group Lara Klein. [email protected]

4 BerkeleyHaas Fall 2014 5 Up Front Up Front

Read Prof. John Morgan’s Game Theory blog for his MBA class: Power of Haas Ideas http://gametheory211.blogspot.com/

ENTREPRENEURSHIP Professor John Morgan Tell the Truth The groups engaged in two games. Both involved decisions about how Study links honesty to brain’s much money to take for oneself or to prefrontal region give to an anonymous recipient, but Taking Chances only one game involved honesty. In one game, participants simply Loss aversion, not risk, motivates chose one of two payment options entrepreneurs, Prof. John Morgan finds to implement. For example, with options to take $10 and give $5 to Leaving one’s job to become an entrepreneur is inarguably risky. But another person or take $5 and give it may not be the fear of risk that makes entrepreneurs more $10, the selfish move would be to determined to succeed. A new study finds entrepreneurs are also choose the first option. The other game concerned about what they might lose in the transition from steady was identical except that instead employment to startup. of choosing an option directly, the In “Entrepreneurship and Loss Aversion in a Winner-Take-All participant had to send a message to Society,” Prof. John Morgan and co-author Dana Sisak, assistant the other recipient stating “Option A professor at the Erasmus University Rotterdam, focused on the is better for you” or “Option B is better powerful impact of loss aversion. for you.” The other person would then Loss aversion, or the fear of losing one’s salary at a full-time job, choose between the two options. In along with its prestige, is directly linked to the amount of effort an Assistant Prof. Ming Hsu this game, the selfish move involved entrepreneur puts into a startup. Loss aversion, the researchers sending a dishonest message, Are humans programmed to tell the found, is what drives most entrepreneurs, not a love of risk. misleading the other participant for truth? Not when lying is advantageous, “There is a view that entrepreneurs are often overconfident personal gain. says a new study led by Berkeley-Haas gamblers who thrive on risk, yet there is little evidence to support In the game not involving honesty, Assistant Prof. Ming Hsu. The report this view,” says Morgan, who studies competition in online markets. the behavior of patients with DLPFC ties honesty to a region of the brain “Entrepreneurs aren’t Steve Jobs. They’re just ordinary people who damage was indistinguishable from that exerts control over automatic want to start a business. I wanted to try to understand a little better that of the control groups. However, impulses. what motivated those individuals.” in the game involving honesty, the Hsu, who heads the Neuroeconomics Many studies focus on what makes a successful entrepreneur patients with damage in that region Laboratory at Haas and holds a joint different from the rest of us. Morgan sought to learn what motivates of the brain were more willing than appointment with the Helen Wills individuals to sacrifice a secure job and what determines an the other groups to lie in order to Neuroscience Institute at UC Berkeley, entrepreneur’s effort to succeed. benefit monetarily. said the results, just published in the The study is based on a theoretical model the researchers developed “The fact that dorsolateral prefrontal journal Nature Neuroscience, indicate and was inspired by the dramatic stories people like to tell about risk- cortex patients were less able to that willpower is necessary for honesty taking entrepreneurs. implement honesty points to a causal when it is personally advantageous All entrepreneurs have a “reference point,” which defines how they role for DLPFC enabling honesty to lie. feel about their salary or, say, happiness level, compared to others, behavior,” Hsu explained. “And because It is well established that the brain’s Morgan says. That reference point is not connected to profits and DLPFC is known to be involved in dorsolateral prefrontal cortex is losses but is directly linked to how much or little the entrepreneurs control over automatic impulses, important for exerting control over are willing to lose when starting a company. this suggests that being honest when impulses, but the role of this region Morgan and Sisak found an entrepreneur’s level of ongoing concern it’s advantageous for you to lie requires in honesty and deception has been a about loss aversion correlates with entrepreneurial effort. In other control.” matter of debate. words, entrepreneurs who put a high stake on avoiding loss—more so Hsu noted that the study, using “So far, studies investigating the than acquiring new gains—worked harder. tools from cognitive neuroscience, role of the dorsolateral prefrontal Morgan used a winner-take-all framework, which is common behavioral economics, and theoretical cortex in honesty have primarily within the Internet startup environment, for his study of biology, has significant implications used correlational methods, like entrepreneurs. Startups such as Facebook or Twitter might not for understanding social interaction neuroimaging,” said study co- offer the best platforms but still dominate their markets. In markets and cooperation within business author Adrianna Jenkins of the such as real estate, where there is no clear single winner, this model organizations and beyond. Neuroeconomics Laboratory. “So it would be less appropriate, Morgan says. “For every Facebook, there Hsu’s research team included hasn’t been clear whether this region is were hundreds of failed ventures,” he says. “We model this aspect Jenkins and Eric Set from the involved in curbing honesty or enabling of entrepreneurial markets explicitly.” This research can help Neuroeconomics Laboratory, Donatella it.” Hsu and his research team explored entrepreneurs gain self-knowledge so they make better decisions and Scabini and Robert Knight from the this question by studying three groups have a clear understanding of “why they’re doing what they’re doing,” Knight Laboratory in UC Berkeley’s of patients: one with focal brain Morgan says. Department of Psychology, and Pearl damage to the dorsolateral prefrontal “One of the most important traps entrepreneurs fall into is when Chiu, Brooks King-Casas, and lead cortex (DLPFC), one with damage to they’re not experiencing success and they become increasingly willing author Lusha Zhu from Virginia a different region of the brain, and a to take risks because of where they are psychologically,” he says. “One Tech’s Carilion Research Institute. control group with healthy brains. The lesson from the research is to be careful when you are behind. It’s not —Kathleen Maclay groups otherwise generally matched necessarily the best decision to double down.” each other in age and gender. In other words, risk aversion can be a good thing. —Pamela Tom

ILLUSTRATION BY RICHARD MIA

6 BerkeleyHaas Fall 2014 7 2014 Business Leader of the Year Green Power Player Stuart Bernstein, BS 86, of Goldman Sachs, shakes up investment banking with his passion for clean energy and the environment

By Edmund Andrews

Imagine it’s 2010 and you’re a top investment banker and economies of scale reduced prices. He even found on Wall Street. You’re actually a banker’s banker, a silver lining—lower panel prices made rooftop solar the go-to guy for giant financial institutions when and large-scale solar projects more competitive they need money. You’ve just helped them raise $170 against fossil fuel alternatives, thereby accelerating billion after the worst financial crisis of the past adoption. century. For Bernstein, this was also a personal mission. He But now you’re 46 and thinking about a new loved mountaineering and mountain biking and had chapter in your career and life. You’re passionate been a member of the Sierra Club and the American about promoting clean energy and slowing climate Alpine Club for more than two decades. He cared change. Not only that, you want to design and build deeply about preserving the environment and served an environmentally friendly, efficient home that will on the advisory board for the Natural Resources be a net-zero user of energy and a model for others Defense Council’s Center for Market Innovation. to follow. “It seemed apparent to me that this was not only That, in a nutshell, was the situation for Stuart one of the greatest challenges of our generation but Bernstein, BS 86. He had excelled as Goldman Sachs’ of many generations,’’ he says. “It was existential. top capital markets banker for financial institutions, I thought if I could apply my skills to the problem, I but he was restless. would be doing my small part to make things better.” Many Goldman partners retire from investment As it turned out, Goldman Sachs liked his ideas so banking at similar points in their careers. Some go much that the firm asked if he would consider creat- into business for themselves. Others go into public ing and leading a clean technology and renewables service, philanthropy, or academia. Bernstein had his business for them. Goldman even put its own capital Stuart Bernstein, BS 86, own ideas. Clean energy, he believed, was the future. into a clean-tech investment fund. managing director and It would be hard to exaggerate how far-fetched this Today, Bernstein’s unconventional shift is a prov- partner at Goldman Sachs, seemed at the time. Bernstein would be jumping into en success. He has been the lead investment banker began his career on Wall an industry in which he had no professional experi- for two of the nation’s most celebrated clean-tech Street, eventually becoming ence—and from which investors had been fleeing. companies: Tesla, Elon Musk’s electric car manu- Goldman Sachs’ top capital Solar-panel companies were going bankrupt thanks facturer, and SolarCity, which finances and installs markets banker for financial to brutal price competition from Chinese manufac- solar-power arrays. Goldman Sachs has dominated institutions. In 2010, wanting turers. Biofuels and other clean-tech sectors were clean-tech deal making ever since he arrived in Palo to more fully pursue his pas- floundering too, the fracking boom having sunk natu- sion for the environment and ral gas prices to their lowest levels in years. Most in- clean energy, he moved back vestment banks were either cutting back or shutting “It seemed apparent to me that to California to head the down their clean-tech businesses. firm’s clean technology and But Bernstein rejected the conventional gloom. [preserving the environment] was not renewables group as well as He had written a white paper on his own time that its venture capital coverage showed that developing cost-competitive renewable only one of the greatest challenges of group. Goldman Sachs has energy could be a way to slow global warming caused dominated clean-tech deal by fossil-fuel consumption as advancing technologies making ever since his arrival. our generation but of many generations.’’

8 BerkeleyHaas Fall 2014 9 Stuart Bernstein, BS 86, on Mount Shuksan in Wash- ington state. Bernstein is Alto. He is also leading Goldman’s investments in “What happens when you see a skyline full of con- a skilled mountaineer and venture-stage clean-tech companies, among many struction cranes?” he asks. “You know that it’s not go- has been a member of the other activities. ing to end well. Business cycles last eight to ten years, American Alpine Club for “I’ve never felt I had to do what everyone else was and we keep making the same mistakes about every more than two decades. doing,’’ Bernstein says. “In fact, when everybody else seven years.” Ignoring Goldman’s competitors—and is doing the same thing, it sets off a red flag in my even some critics within Goldman—Bernstein start- mind.” ed turning down deals. This fall, the Haas School of Business is honoring When the financial crisis hit in 2008 and banks, Bernstein as its Business Leader of the Year. That insurance companies, and other financial institu- puts him in the company of Janet Yellen, Haas pro- tions desperately needed to recapitalize, Bernstein fessor emeritus and now chair of the Federal Reserve; was prepared. He led Visa’s $19.7 billion initial public Paul Otellini, MBA 74, the former CEO of Intel; and offering—the biggest IPO in history at that point— Shantanu Narayen, MBA 93, CEO of Adobe Systems. and raised billions for other institutions, including Bernstein is intensely committed to Berkeley Goldman Sachs. and Haas. As a new Goldman Sachs employee, he But by early 2010, after a quarter-century of in- learned that the firm, like many investment banks at vestment banking, Bernstein wanted to focus his ef- that time, had never recruited a Cal graduate before, forts on mitigating climate change. but Bernstein lobbied to change that. He flew out In California, he quickly became intrigued by to Berkeley on his own dime to interview students electric cars. Nobody had launched a successful to prove they would be great candidates. Today, new car company of any kind, let alone an electric- Goldman actively recruits on campus and employs car company, in almost 70 years. Electric vehicles more than 200 Berkeley and Haas graduates. In 2007, had been unattractive and poorly designed. They Bernstein joined the Haas School Board and in 2009 couldn’t go far on a single charge, and there wasn’t an delivered the school’s undergraduate commencement infrastructure for recharging batteries. The Bernstein net-zero home lit by 3-watt LED bulbs. When speech. In 2012, he and his wife, Marcella, provided a But Bernstein had seen Elon Musk’s Tesla, with every exterior light is illuminated, the house uses only 200 watts. major contribution to establish the Berkeley Energy its sleek style, luxury-sports-car performance, Houses using conventional technology use 30 times as much and Climate Institute—a hub to coordinate the and advanced engineering. He’d scrutinized the energy. All of the plants are drought tolerant and over time will university’s energy and climate efforts. economics and recognized Musk’s mastery of both expand to cover more of the pebbles. the fine details and the big picture. He worked on Challenging the Status Quo with Every Step Tesla’s initial public stock offering and then led sub-contractor was given a tutorial on the design Joining Wall Street’s biggest investment bank after almost $4 billion worth of subsequent financings. philosophy. To minimize wasted materials, he pro- earning a bachelor’s degree in business might not Tesla shares have soared from $17 in June 2010 to hibited contractors from using dumpsters that filled seem like bucking convention. But when Bernstein more than $230 as of press time. landfills and instructed them to put construction graduated in 1986, Wall Street and Berkeley might as waste in a “pile of shame” in the yard. The workers well have been on different planets. The big invest- The Ultimate in Green Living enjoyed figuring out ways to reduce, reuse, and recy- ment banks recruited from East Coast Ivy League For evidence of Bernstein’s personal passion for cle almost everything. Only at the end of the project schools, and most Berkeley graduates stayed on the clean energy, look no further than the home he and was the small pile removed. West Coast. But Bernstein had become fascinated by Marcella designed from the ground up using passive Bernstein now measures the home’s energy effi- economics and finance. Though he had no contacts, design techniques, which use building location and ciency down to almost every circuit, tracking “phan- he secured an interview and persuaded the company orientation relative to the sun, window design, ther- tom” energy loss from appliances and determining to hire him as an analyst. mal mass, shading, and ventilation to control tem- where they can further reduce their energy consump- Two years later, Goldman wanted to promote perature and air quality. Their goal: to build a net- tion. He was horrified to discover that his old plasma Bernstein to an associate, an unusual move at that zero energy use, sustainable house using natural and TV was consuming 20 watts in stand-by mode. time. Once again, however, Bernstein had other ideas. healthy components at no cost premium. And not an “If you don’t monitor everything, you won’t change He turned down the great offer and left his job to pur- uncomfortable or austere house requiring aesthetic behavior,’’ Bernstein explains. Bernstein document- sue two degrees at Harvard: an MBA at the business compromises either. One with a beautiful design, ed the whole project on his blog, Net Zero House. “I’ve never felt I had to school and a Master in Public Administration at the comfortable temperatures, fresh air, state-of-the-art This summer, the home achieved key milestones in- Kennedy School. appliances, and enjoyable entertainment systems. cluding net-zero energy consumption, Passive House do what everyone else One Goldman executive warned Bernstein that he They wanted to prove that you could have it all. certification, and LEED Platinum certification. In would never make up for the money he could have To achieve his vision, Bernstein scoured the globe fact, the house is operating so efficiently it can also was doing. In fact, when earned during those years on Wall Street. Many of his for technical information and ideas on every con- power two electric vehicles. classmates at Harvard were perplexed as well. “The ceivable aspect of clean energy and efficiency—LED And it didn’t cost more to build. It was time- MBA students thought I was a socialist for going to lighting with the best light quality, electric heat consuming to figure out, but the total cost was no everybody else is doing the Kennedy School, and the people at the Kennedy pumps, innovative HVAC systems, you name it. different than for a traditional house of similar fit School thought the Harvard MBA students were capi- No detail was too small. Anticipating droughts, the and finish. the same thing, it sets off a talist pigs,” he recalls. house employs passive greywater systems to irrigate Bernstein says his home offers a model that’s not Bernstein thrived in both programs, taking both the landscape. Not only does the house reuse washing hard for others to replicate. “We learned from others red flag in my mind.” second-year classes simultaneously and graduating a machine and shower water for irrigation, but it reus- and our goal is that people can benefit from our work, year early. After graduating, he returned to Goldman es the heat from shower water to pre-heat incoming including the mistakes we made,’’ he says. and steadily rose to its senior ranks. As the housing water thereby reducing water waste and the cost of Sitting at an outdoor café in Palo Alto on a sunny and mortgage markets became engulfed in manic hot-water heating by up to 40 percent. weekday morning, Bernstein pulls out his smart- speculation and reckless leverage, Bernstein saw a “The hardest part was to convince sub-contractors phone and turns on an app that monitors the house’s crisis in the making. that we had to do everything differently than they major systems. At that moment, it is using 1,020 had been doing it for decades,” Bernstein says. watts and producing 9,352 watts, irrigating the land- He was an unusual taskmaster. He required his scape with greywater, and generally treading lightly general contractor to take a five-day course to be- on the environment. come certified in passive-home construction. Each Life is good.

10 BerkeleyHaas Fall 2014 11 Leading Through Innovation Award 2014

Travel Innovation Award, given at the annual Haas Gala on commuter train—he’d develop a rapport, diagnose their “If a person can add another Nov. 14. Bahna passed away in February at the age of problems, and find reasonable solutions. 71. His wife, Dorothy, and family have accepted the “He was switched on all the time and a tireless work- honor on his behalf. er,” he says. “He was a builder: of relationships, of jobs, half hour or an hour in a week The award was created to celebrate alumni who em- of family, of value, and even of buildings. He was a con- [to thinking], their power Forecaster body the Haas spirit of innovation and serve as exem- stant creator in everything he did.” plars to others. Bahna was also a member of the Haas A native of Grand Rapids, , Bahna was a Big The travel industry has evolved thanks in large part to the ingenuity School Board. He helped shape the Innovative Leader Ten wrestling champion at the increases immensely.” of the late Ralph Bahna, MBA 65 Curriculum and created the Bahna Initiative, which en- before earning his MBA at Berkeley and taking his first —Ralph Bahna ables Berkeley-Haas to forecast and imagine the future job as a commercial sales manager at TWA. It took him of graduate business education, especially within the two years and more than two dozen documents to con- By Laura Counts digital sphere. vince his superiors to try his plan for a new seating class Bahna’s former colleagues and family members say to capture the business travel market. His highly suc- would say almost anyone could do it. He would preach Ralph Bahna addressing new MBA students in 2012. he had an exceptional ability to step back from the de- cessful Ambassador Class, with its added amenities and about reading a huge amount and thinking clearly. He asked questions until he understood a situation, then The founder of the Club tails, look at the big picture, and quickly boil it all down. price point below first class, was the first of his innova- Quarters chain and When Ralph Bahna thought of add- Jeff Boyd, chairman and former CEO of Priceline.com, tions to be widely imitated. he could simply define the problem and come up with former chair of Priceline. ing an automated check-in ma- says Bahna advised company founder Jay Walker on In 1973, at age 30, Bahna became president of creative solutions, often challenging the status quo.” com, Bahna also invented chine to save travelers from waiting how to operationalize the “name-your-own-price” Cunard Lines and CEO three years later. He put Cunard In addition to his wife, Dorothy, and his son, Adam, and auto- in line at his newly launched Club travel concept. During Bahna’s 2004 to 2013 tenure as on a strict financial austerity plan. (“They were doomed Bahna is survived by his daughters, Laura Lovejoy mated check-in machines Quarters , he and his busi- chairman, Priceline’s stock price rose 4,000 percent as by the jet but operated as if they weren’t,” he told Berke- and Deborah Chrabolowski; his sister, Joanne Deeb; and helped launch the ness partner headed to the base- it grew into the country’s biggest online travel agency. leyHaas magazine in a 2012 interview.) He set his sights and eight grandchildren. cruise industry. ment to build a prototype from an “When he became chairman, senior leadership dia- on overhauling the aging steam liner QE2 into old printer and a card reader. logues had been largely transactional, as in ‘what are a luxury vacation at sea. Among his innova- The basement workshop is a fa- we doing today?” Boyd says. “He led a deep dive into tions: an on-board computer center allowing miliar story for new college grads what was going to drive the business over the coming people to take classes along the way, and—in bootstrapping their first startup. years and had us look at things more strategically.” a stroke of marketing genius—a partnership The difference is that Bahna, Bahna made that type of higher-level thinking an with to fly passengers one MBA 65, was already a successful intentional part of his routine. way on the Concorde. Cunard became the executive, having revitalized “If a person can add another half hour or an hour in a biggest buyer of Concorde seats. Trans World (TWA) with week [to thinking], their power increases immensely,” Stevens says Bahna drew on lessons from a pioneering business class and he told incoming Haas MBA students at a rare 2012 the cruise industry when they developed having helped launch the cruise orientation-week appearance. Club Quarters—a line of membership-based industry by re-imagining Cunard Bahna was scrupulous about maintaining company hotels in high-demand urban centers. Ste- Line’s Queen Elizabeth 2 (QE2) as a luxury vacation. confidentiality and avoided the personal spotlight— vens, who had been with Sea-Land and U.S. “He was a big thinker. No detail was too small or his 2012 talk was only the second time he had spoken Lines, had partnered with Bahna to design too big,” says Allen Stevens, who co-founded Club publicly in 20 years. Yet he was no wallflower: he had a a more cost-efficient . When the Quarters with Bahna and serves as vice president of personal magnetism and compassion that drew others financing fell through, they turned their parent company Masterworks Development Corp. to him. attention to real estate. “The automated check-in machine was just one of his His son, Adam Bahna, also a vice president at Mas- The idea behind Club Quarters was “to have many innovations that took over—you see them now at terworks, says one of the reasons people responded the best locations, be full service, charge less, every airport.” to his father was because he listened to them—and and still make a big profit,” Bahna told Berke- In recognition of his career as a transformational listened with purpose. No matter where he went or leyHaas. Club Quarters now operates 17 ho- figure in the travel industry, Bahna is the posthumous whom he met—a CEO across a negotiating table, a tels in the U.S. and London. recipient of the Haas School’s 2014 Leading Through cabbie stuck in traffic, or a fellow passenger on his “What he would do was look at every single thing that goes on in a hotel and look for win- win situations that cost us less and give the customer more,” says Stevens. Adam Bahna says even with his repeated successes, his father remained humble and maintained his tireless work ethic. “He was the guy coming up with the ideas. But he wouldn’t say he was a genius or focus the spotlight on himself,” Bahna says. “He

12 BerkeleyHaas Fall 2014 13 In the Back In the Back Your Haas Network

CONFIDENCE WITHOUT ATTITUDE The Reality of Andersen and, later, at Now, 20 years later, Disney Interactive. He’s Grant has raised tens of Fantasy worked for Yahoo for millions of dollars for Clifton Ma, BS 98 seven years. fistula surgery since Power to the People Sr. Director, Fantasy The unrelenting nature joining the Fistula Helping transform the Sports, Yahoo! of the business keeps Foundation as its first CEO Santa Monica, CA Ma’s work challenging. in 2005. The organization Democratic Voice of Burma “Fantasy players has gone from supporting absolutely need to know one hospital to more than Sonja (Winckler) Velez, MBA 00 what’s going on in their 100 in 28 countries and CFO, DVB Multimedia games at every single nearly tripling its budget to Yangon, Myanmar moment,” he says. Ma $6 million. Her success himself has been active earned her the 2014 In 2012, after 14 years of upward mobility and deep satisfaction at in fantasy leagues for Nonprofit Marketer of the the brokerage firm Charles Schwab, where she was vice president many years and under- Year award from the of corporate planning and analysis, Sonja Velez stepped away stands his customers well. American Marketing from the working world. But for all their popular- Association in July. The abrupt shift in her career path might lead some to believe ity, fantasy sports are not Grant attributes much that she had undergone a premature midlife crisis. But that particularly diverse or of the foundation’s growth wasn’t it at all. Fantasy sports have been global—at least, not yet. to her Haas training. “I Velez simply decided to take a break. She spent time with around since the 1960s, Most players are white learned how to ask, ‘What’s her ill father, traveled, and earned an MFA in creative writing. but their popularity has males in the U.S., and Ma the real problem we’re When she returned to full-time work in April 2014, she was still exploded with the Internet is working to spread the trying to solve? What’s the in finance, but it was as CFO of the Democratic Voice of Burma and mobile technology. hobby to minorities and niche we are trying to fill?’” (DVB), a media organization that began in 1992 as the voice Today, some 41 million women worldwide. He’s she says. “In our case it of expatriate opponents of Myanmar’s military regime. It was people participate. And made headway but says was surgery to repair broadcast into Myanmar (or Burma, the country’s name is still in overseeing the experience he still has a ways to go fistula. And that makes it dispute) via shortwave radio from neighboring Thailand. for a majority of them is and looks forward to the easy to communicate the The move overseas is not completely surprising. Velez earned Clifton Ma. challenge. —DM concept to donors.” a bachelor’s degree in international relations and development at Ma is the business lead Travel has shaped UC Davis in 1995 before earning her MBA at Berkeley-Haas. for fantasy sports at Restoring Grant’s career. After gradu- Now, as Burma moves toward a more democratic form of Yahoo, the world’s top Women’s Lives ating from Berkeley, she government, DVB has a physical presence inside the country and provider of fantasy sports worked in advertising then is trying to become a for-profit organization. That’s where Velez games and apps. Kate Grant, BS 80 took a seven-month trip comes in. “The story of DVB won me over,” she says. He directs everything CEO, Fistula Foundation around the world. “I The channel, which started television broadcasting via from strategy and deal San Jose, CA became disillusioned with satellite in 2005, was instrumental in relaying details of the 2007 making to user retention developing creative ways Saffron Revolution, a series of demonstrations against the ruling and revenue. He also to sell things to people,” junta in Burma and the resulting governmental crackdowns. coordinates with other she says. departments across Transforming DVB into a commercial enterprise is a major Instead, she earned a Yahoo, a juggernaut in challenge. Some staff accountants have no formal training. And master’s of public affairs sports media. “People like while the outfit’s executives are competent, managing a for- from Princeton in 1994 to joke that all I do is play profit enterprise is different from running an NGO. “It’s a whole then worked for the House fantasy sports for a living,” new exercise for the management team,” Velez says. Thankfully, Foreign Affairs Committee says Ma. “While my job she has the experience to lead DVB through its transition. Her and with USAID, both in does involve actually tenure at Schwab included managing astonishing growth during Washington, D.C., and the testing and playing our the tech boom and abrupt slowdowns during two recessions. Rockefeller Foundation in games, most of my time is One of the biggest challenges for Velez is the same faced by New York, before returning many American executives working in developing countries: spent talking to sales, On a trip to Ethiopia as to California. the relative lack of formal structures and methods. “There are engineering, and part of a U.S. Congressio- Looking ahead, Grant so many issues we don’t have to deal with in the West,” she says, partners.” nal delegation, Kate Grant plans to expand hospital such as a lack of consistent accounting and taxation standards. The ability to jump back visited a hospital for women services in developing Despite the hardships of working for a bootstrapped media and forth between the suffering from fistula. countries. Currently only outlet in a developing nation, Velez also says her experience has details of running a The condition, caused by about 2 percent of women been an “unforgettable adventure.” fantasy site and the obstructed childbirth, who need fistula surgery Whatever she ends up doing next will be informed by her big-picture concerns of leaves its victims incon- receive it. experiences at DVB. “I may be back in the Western world,” strategic planning was tinent and often shunned For those women, it she says, but she aims to continue doing work that “builds something Ma picked up by their families. Grant changes their lives a bridge between socially beneficial enterprises and the while earning his was deeply moved by how dramatically, ” she says. traditional corporate world.” —Dan Mitchell bachelor’s at Haas and surgery restored the “They go from being his MBA at UCLA. He women’s lives. “I thought, if outcasts to getting their honed those skills as a I ever have money, I’d put it lives back.” —ME consultant at Arthur here,” she says. PHOTOGRAPH BY KAUNG HTET 14 BerkeleyHaas Fall 2014 15 In the Back In the Back Your Haas Network

Technology these collectors sell to face among home cooks QUESTION THE STATUS QUO street-level aggregators, looking for advice on how Trumps Trash who sell to larger distribu- to make baby food and Mani Vajipeyajula, tors, who sell to processors. family meals that From 2007 to his retire- BCEMBA 12 “We are trying to organize everyone will eat. ment earlier this year, Tim Founder and CEO, this very informal industry,” Wong’s new career Ryan, BS 70, was in charge The Sensitive John Wayne of Miami-Dade’s jail system, Banyan Nation he says. Under Banyan’s began as a lark two years Bringing compassion to the the largest jail system in Hyderabad, India plan, pickers still perform ago, when the new Florida and the eighth larg- correctional system the bulk of the sorting but mother and passionate est in the . have more job stability. foodie started posting They sell to local aggrega- videos with cooking tips Tim Ryan, BS 70 tors, who can sell to on YouTube for friends. Retired Director, Miami-Dade Corrections and Rehabilitation Dept. Banyan for a higher price Within a month, the Miami, FL than they currently engaging videos, shot receive, Vajipeyajula says. and edited with basic Working two jobs and attending classes left Tim Ryan little time to The company then equipment and the help take part in the demonstrations rocking the Berkeley campus during processes and sells the of friends, caught the the late 1960s. But he remembers the “blue meanies,” the sheriff’s materials directly. attention of PBS. “I was deputies assigned to Vietnam War protests. Banyan is currently shocked when they A month after graduation, Ryan took a job with the Alameda focusing on plastics and approached me,” Wong County Sheriff’s Department as a deputy. A mere two years later, Mani Vajipeyajula knew already has a plant says. “I created the videos Ryan says, “I was a blue meanie.” One of his assignments was to cover from his early days at processing 1.5 to 2 tons for fun.” After discussions war demonstrations on Berkeley streets. Berkeley that he wanted of it daily. With investor and a pilot, the media “I’d seen it from the other side so I was sensitive to the fact that to do something good for support, in the next three giant partnered with Wong people have the right to make their statements about the government,” India and decided, based to six months Vajipeya- to produce an entire he says. “You just want to keep everyone safe.” on prior visits there, to jula hopes to expand season—24 episodes— Ryan didn’t set out to work in law enforcement. He expected to tackle his home country’s both beyond Hyderabad of three- to four-minute be drafted and sent to Vietnam after college. But his draft lottery waste-management woes. and into the realm of cooking segments. number portended a different future. He applied at the sheriff’s office Vajipeyajula used every e-waste recycling. —NS Filmed in her Los because it paid better than an entry-level banking position and he opportunity of his Angeles home and was contemplating law school. For his first assignment, he and two Berkeley-Columbia Farm to Table occasionally featuring other deputies provided security for 1,200 inmates at Santa Rita Jail. Executive MBA program to her sons, ages one and “Thank goodness the inmates knew what to do,” Ryan says, “because develop a plan for a to Small Screen three, Wong’s shows offer I sure didn’t.” company that today uses Patricia Wong, MBA 07 catchy music and written As Ryan grew accustomed to the job, he found that corrections technology and data Creator, Farm to versus spoken instruc- work suited him. He attended the sheriff’s deputy academy, earned a analysis to eliminate Table Family tions for healthy twists master’s in public administration at Cal State East Bay, and spent 28 supply-chain inefficien- Los Angeles, CA on classics such as pizza years working for the Alameda County Sheriff’s office, moving up in cies, improve the quality of and pasta as well as fun rank to captain. For ten years he served as commander of the Alameda recycled materials, and meals like green eggs County jails, the first of several roles overseeing correctional facilities support worker safety and ham. A second in his 43-year career. within the country’s season is in the offing. In 1998 he became chief of corrections for Santa Clara County, disjointed and largely Wong also has a website where his demeanor earned him the nickname “the sensitive John informal recycling sector. and blog, Farm to Table Wayne.” Four years later he was offered the chief of corrections post Not long after gradua- Baby Mama, where she for the Orange County correctional system based in Orlando, Florida. tion, Vajipeyajula, who posts recipes for her His children married, Ryan saw it partly as a strategic move. “I thought has two electrical growing community. being near Disney World might bring the grandchildren,” he says. engineering degrees in A former financial In 2007, Ryan became the director of Miami-Dade’s jail system, addition to his MBA, left a analyst, Wong uses her the largest jail system in Florida and the eighth largest in the position as software marketing, finance, and United States. He was responsible for a $300 million budget, 2,800 engineer at Qualcomm to When Patricia Wong business development employees, 7,000 inmates, and 2,500 others in community programs. launch Banyan Nation. started out as a consul- skills frequently. “I am The business training he received at Cal served him well in Banyan is poised to make tant for Arthur Andersen building an audience and running correctional facilities. “You have to have the ability to take a an impact in the booming after college, she never a brand, and I’m in the practical look at things and not jump to conclusions,” he says. “I think city of Hyderabad in South imagined she’d be a video midst of negotiating my education at Berkeley helped me do that.” India, home to some 8.7 star. But as the creator of contracts with music Compassion and being careful about the use of force are also million people, roughly the Public Broadcasting labels, sponsors, and essential. “Each jail has its own culture,” he says. “In Florida I found 50,000 of whom are “rag Service (PBS) video partners,” she says. “This there wasn’t a lot of training on the job, so I changed that.” pickers” who salvage channel “Farm to Table is the perfect opportunity Ryan retired in January 2014 and now runs Ryan Correctional recyclable materials from Family” and personal for my lifestyle right now Consulting Services, which helps jail operators prepare for the 4,500 tons of waste YouTube channel “Farm because it gives me time accreditation. He also has more time with his wife, Sue, and their generated daily. to Table Baby Mama,” to be with my children.” three grandchildren—though he and Sue now live in Miami, no longer In the existing system, she’s become a familiar —MR next door to Disney World. —Mandy Erickson PHOTOGRAPH BY MICHAEL A. FULLANA

16 BerkeleyHaas Fall 2014 17 In the Back In the Back The Campaign for Haas

ASK THE DONOR UPCOMING EVENTS Following the Money haas.berkeley.edu/events Fellowship recipient Morgana Davids studies finance to make an impact Investing in Patience Pre-Christmas Alumna Margo Alexander helps Haas craft Drinks primary care for the December 4, 2014 underserved. “I got its vision for social impact London excited about the possibility of being in 37th Annual Old During her 30-year finance career, Margo Alexander, BS 68, rose to a position to see that become one of the most senior women on Wall Street as chairman money was getting to Blues Luncheon of PaineWebber’s Asset Management Company (now UBS Global important things,” December 11, 2014 Asset Management). She was the first woman to head a top-ranked she says. Berkeley research department and to oversee a major trading floor and among Davids learned the first women to head a large asset management business. After about finance on the Haas Celebration retiring in 2003, Alexander joined the Acumen Fund, a nonprofit that job and excelled at it. in Silicon Valley, raises charitable donations to invest in companies and entrepreneurs The internship turned Menlo Circus working to solve problems of poverty. She served as board chair for nine into a full-time years and is currently chair emeritus and chairman of the company’s position, first as an Club February 4, 2015 social impact investing committee. analyst then as senior Atherton Alexander serves on the advisory boards of the Haas School and analyst. By the end of the Center for Responsible Business (CRB). A consistent and loyal her nearly three years Women in annual donor to the Haas Fund, she was a driving force behind the at PCDC, she was new Institute for Business and Social Impact (IBSI) and has provided underwriting loans Leadership support for the tenth annual Women in Leadership Dinner and a and managing a Conference faculty fellowship for the CRB. $100 million national March 14, 2015 healthcare loan Berkeley Why is the creation of IBSI important for Haas? portfolio. When I read about the Center for Nonprofit and Public Leadership, Wanting to learn Haas Celebration the Global Social Venture Competition, and the Center for more about economics, at Gap Responsible Business, it seemed to me there were many overlapping accounting, marketing, issues and that it would benefit the school to have a singular focus. and other aspects Headquarters There’s much work to be done. For example, how do you really of business so that March 18, 2015 measure and track impact? The new Institute has the right platform, she can handle even San Francisco the right leadership, and is tremendously exciting. Growing up with parents in the helping larger transactions, Davids applied to Haas. “I was attracted Global Social What have you learned through the Acumen Fund? professions, Morgana Davids, MBA 16, to the four Defining Principles and the Venture We’re in a crazy phase of “impact investing” that will be refined had no experience of finance beyond Hollywood. She thought of the industry fact that the school focuses on making Competition and shaken out. A fund can’t maximize social value and maximize sure we’re well-rounded in our business profitability. Some managers propose that they aim to make as a cutthroat world full of people like Finals & Gordon Gekko, the ruthless protagonist knowledge,” she says. 10–15 percent returns. That seems unlikely to me based on our With leanings toward healthcare Conference experience. At Acumen, we stand first with the poor and secondly for of the film Wall Street, and wanted no April 10, 2015 part of it. or leveraged finance, she is supported sustainable returns. It takes a long time for our investments to reach Berkeley Davids earned a bachelor’s by a $50,000 CJ White Fellowship and a sustainable point. We originally thought it would be five to seven has also been named a Forté fellow, years; it is more likely to be seven to 12 years. These companies need degree in psychology and French MBA Reunion from Barnard College then set out to a designation that recognizes women a lot of hand-holding, follow-up tranches of investing, and patience. committed to becoming leaders in Weekend That’s why we refer to our model as patient capital investing. improve the world. She worked for two years coordinating clinical trials and business. April 23–26, 2015 Is that the case for all areas of social impact? community outreach on rheumatic “Attending Haas events this spring Berkeley and seeing alums like Margo Alexander, IBSI is an exciting idea because there are so many different issues. diseases such as scleroderma for a who are brilliant and have been so For example, governance. What is the impact of policy and principles hospital in . Annual Alumni successful at making their mark on the on governance? Who benefits from those policies and principles? Although she enjoyed her time at Conference world, I knew I’d made the right choice,” The same with the environment or any social impact target. It the hospital and found the experience April 25, 2015 Davids says. She is part of the record- sounds easy to talk about impact investing, but it’s complicated. valuable, Davids realized that she Berkeley would prefer a role on the money breaking 43 percent of women in her MBA class. What advice can you offer to students? Photo caption side of research. To learn more about You don’t need to be in the There is an incredible hunger among students to do work that is finance, she completed a capital “The students I’m with are an Bay Area to continue learn- meaningful and makes a positive contribution to our world. This investment internship with Primary amazing combination of smarts, ing from Berkeley-Haas. “space” offers all that and the chance to affect the ways that Care Development Corporation motivation, and success,” she says. Remain a Student Always investment, development, and philanthropy work. The intellectual (PCDC), a nonprofit that lends funds to “I feel lucky to be here.” online through videos of and personal rewards are tremendous. So, in answer to your community health centers to expand —Marguerite Rigoglioso faculty and speakers at question: Go for it! insights.haasalumni.org. PHOTOGRAPH BY JOE LARESE

18 BerkeleyHaas Fall 2014 19 In the Back In the Back

Get involved with an alumni chapter in your area: haas.berkeley.edu/alumni/ Haas Worldwide Events community/chapters.html.

EVENT >play Digital Media Conference MBA & Undergrad Orientation 1 Sabrina Simmons, BS 85, CFO, Gap, Inc. 2 Danae Ringelmann, MBA 08, founder & chief development officer, Indiegogo. 3 Lucky Sandhu, BS 96, EMBA 15, co-founder, Reliance Financial. Berkeley-Haas Volunteer 1 2 3 4 Leadership Conference 4 Dan Parker, MBA 11, and Felix Miranda, MBA 14. 5 East Bay Chapter volunteers Frank Rockwood, MBA 93; Susan Rockwood, MBA 89; Dave Sher- man, MBA 85; and class leader Kinman Tong, BS 03. 6 Lindy Vejar, BS 85, MBA 97; Vic Trione, MBA 70; and Haas staff Elizabeth Friedman Branoff. 7 Jose Cobangbang, BS 09; Virginie Suos, BS 09; Jose Hernandez, 5 6 7 8 BS 09; Judy Chou, BS 96. Homecoming 8 Richard Maas, BS 76, and Jocelyn Lloyd. 9 Jim Burk, BS 62, MBA 63; Cal student Cesar Arroyo; and Anne Burk, BA 62. 10 Valerie Niggell, MBA 94, and Chris Niggell. 11 Panpan Wang, MBA/MPH 12, and Archit Bhargava, MBA 12. 12 George Kalandadze, MBA 16, 9 10 11 12 hugging Sini Ninkovic, MBA 15. 13 Kathlyn Hughes, BS 85, and John Selleck, BA 84. Dean’s Speaker Series 14 Duncan Niederauer, former CEO, New York Stock Exchange. 15 Brigadier General Tammy Smith, U.S. Army Reserve. 16 General Bikram Singh, former chief of army staff, Indian Army. 17 Deanna Berkeley, president, alice + olivia. 13 14 15 16 Income Inequality Panel 18 UC Berkeley Economics Prof. Emmanuel Saez. 19 Dean Rich Lyons and Haas Prof. The Business and Fun of >play and former Dean Laura Tyson. Dean’s Visit to Seoul, South The popular digital media conference surprises and delights Korea 20 Jay Jung, MBA 03; JW Lee, BS 13; Jihong Bu, MBA 13; Isabelle Schuhmann, MBA 16, plays a virtual-reality game MBA students from the University of Michigan’s Ross School Byeongchan Bae, MBA 10. using a headset (designed by Oculus VR) with a motion- of Business, Duke’s Fuqua School of Business, the University 21 Steve Park; Charles Chang, BA tracking platform (designed by Sixense) that allows for of Pennsylvania’s Wharton School, and others planned West 17 18 19 20 79 (economics); and Dean Lyons. full-body presence in 3-D games. The >play Digital Media Coast treks around >play. Budd Cheit Tribute 22 Rick Cronk, BS 65, was one Conference, held Oct. 24 in San Francisco, is the largest The day featured memorable keynotes from industry of several people who fondly student-run technology and digital media conference in the titans, including the founders of Cloudera and Tilt; panels on remembered Dean Emeritus country and continues to grow in size, attracting students and the latest trends, such as on-demand food delivery technology Earl F. Cheit at a service honoring alumni from Haas and beyond. This year, the conference’s with leaders from SpoonRocket, Sprig, Caviar, and more; a his life on Oct. 19. 23 The Cal Marching Band played tenth, co-chairs Billy Blaustein, Chip Malt, and Jon Weinberg, product expo and rocket pitch, and a career fair. Learn more at a moving musical tribute in Budd’s all MBA 15, reached out to peer MBA programs and more playconference.net. honor along Strawberry Creek. than 250 tickets were sold to non-Haas community members. Haaski Golf Tournament 24 Bob Weishar, MBA 15; Eisuke Muroga; Keith Lohkamp, MBA 96; 22 23 21 24 and Brian Best, MBA 96.

20 BerkeleyHaas Fall 2014 21 In Memoriam In Memoriam An Enduring Love for Cal

Earl F. Cheit impacted Berkeley- Former Haas Dean Raymond Miles helped re- The Life of Haas Dean Emeritus cruit Budd for the dean’s position. “He was clearly Earl F. (Budd) Cheit Haas and management education the most experienced administrator on the faculty, Though a successful administrator, in profound and lasting ways and his campus leadership experience and his rela- 1926 Born in Minneapolis. Cheit never failed to place a pre- tionship with the Haas family were valuable.” mium on outstanding performance Completed PhD, Cheit actually served as dean twice, in 1976–82 University of For nearly two decades, Haas students have passed in the classroom. The Haas annual Joined UC Berkeley Minnesota. Thesis: through the classroom wing named for Earl F. Cheit, Award for Excellence in Teaching is and 1990–91. “We often joked,” says Miles, “that he 1954 business school “Incentive Effects named for him. was not only my predecessor but also my successor.” as a visiting business school dean and professor emeritus and for- of Workmen’s As dean, Cheit made superlative teaching one of his associate professor mer executive vice chancellor of UC Berkeley. And yet Compensation.” 1957 the number of lives Cheit touched—through his excep- top priorities, a passion that is immortalized with of economics and research economist tional foresight, compassion, and an early and deter- the school’s annual Earl F. Cheit Award for Excel- lence in Teaching. at its Institute of mined grasp of what a business school could be—ex- Served on the Industrial Relations. tends back more than half a century. Cheit also held high-level administrative posi- board of the Richmond Unified 1961 Cheit, or “Budd,” as he was known by friends and col- tions at the university, including interim director of One of just six School District leagues, died of cancer at his home in Kensington, Calif., athletics and executive vice chancellor. His dedica- professors elected until 1965. on Aug. 2. He was 87. tion to the arts led him to be named a founding chair to the Emergency Born in Minneapolis in 1926 to Russian immigrants, and lifelong patron of the Cal Performances Board of Executive Committee he grew up in Hague, North Dakota. He was the first in Trustees. 1964 of the Academic “I can’t think of anyone whose variety of services Senate during the his family to attend college and became a staunch advo- turbulent Free Speech cate for higher education. Cheit’s obituary in The New to the campus has been so significant,” Haas Movement. York Times cited his “prescient” understanding of the Professor David Vogel told The Daily Californian. Named Organized first challenge of keeping higher education affordable. A re- “His legacy at the school and at the university is a executive vice permanent one.” 1965 multi-disciplinary port Cheit wrote in 1970 discussing these financial is- chancellor of conference on sues and offering forward-looking solutions sparked a Yet perhaps Cheit will most be remembered for UC Berkeley business and society. front-page article and editorial in the newspaper. his role in developing the character of Haas’ culture. until 1969 From 1957, when he joined the business school, until Beyond Yourself was a principle Cheit took to heart long before the school codified it. Helped shepherd his 1991 retirement, Cheit envisioned and initiated the Published nationally 1968 completion of Zellerbach modernization of the Haas School. In 1995, the much- In an introduction to an oral history transcribed influential report Hall to promote the arts 13 years ago for a University of California History “The New Depression lauded architectural gem that is home to Haas was just on campus. the newest jewel in his crown, a shining mini-campus Series, Cheit’s colleague at Berkeley’s School of in Higher Education,” within a campus that came to exist in part through Law, Professor Emeritus Robert H. Cole, described describing 1970 Cheit’s concern for others: “His remarkable career impending financial Cheit’s years of determination and hard work. Appointed dean of the is one of virtue rewarded, with the emphasis all on difficulty of most Today Haas enjoys a measure of partial autonomy universities, with business school until within the larger Berkeley campus—with its own offic- the virtue. The force that has driven Budd’s career is forward-looking 1982. Created the es of admissions, alumni relations, and career services, character, and his wide achievements are the real- solutions. 1976 school’s own career not to mention a development staff to secure private do- ized expression of character. [His] respect for other services and fundraising people…for the worth and integrity of each person is operations. Began nations. None of these existed before Budd Cheit. seeking funding for a Cheit was also a pioneer in the study and teaching of perhaps best illustrated by how thoroughly it is in- dedicated building. the impact of business on society. He was instrumental grained in the details of his daily life.” Earned campus- 1989 in the establishment of the Business and Public Policy “The impact of Budd’s contributions,” says Dean wide Distinguished Teaching Award. (BPP) group at Berkeley—a path he chose after experi- Rich Lyons, “extends well beyond our school and encing firsthand the campus turmoil of the 1960s. Cheit campus. He sowed many seeds of our school’s In- 1990 Returned as acting stitute for Business and Social Impact, which helps dean of Haas for urged the business school to examine its role within the one year. larger community. for-profit and nonprofit enterprises magnify their “I was the first person to be recruited at Cal (and, I impact on society. Budd influenced management 1991 Retired from the believe, nationally) to work in what was then a very na- education more broadly through his research and Haas School. scent area of management education,” says Professor teaching on the role of business in society and the Appointed Cal’s Emeritus Ed Epstein, who helped found what became potential for markets to create a better world. We Interim Athletic 1993 BPP. “Budd contributed greatly to the well-being of the are deeply in his debt and will miss him dearly as a Director. Berkeley campus, the business school, and higher edu- colleague and friend.” Honored with the cation writ large for nearly sixty years.” Cheit is survived by his wife of 63 years, June (An- 1995 drews) Cheit; four children, Danielle (Wendy) Cheit Elected founding dedication of Earl F. chair of the Cal Cheit Hall. of Kensington, Calif., David Cheit of Davis, Calif., Performances “His legacy at the Ross Cheit of North Kingston, R.I., and Julie Ross of Board of Trustees, 1996 where he New York, N.Y.; and three grandchildren. Became master remained active school and at the “‘Retired’ is the last word I would have ever used of ceremonies until his death. to describe him,” says his son David Cheit, BA 74 1998 of the Old Blues university is a (political science), JD 85. “His energetic service and Luncheon, a post he unwavering support over the years for Cal Perfor- held until his death. permanent one.” mances, Cal sports, and countless activities in be- tween were driven by a love for this university that 2014 Died Aug. 2, age 87. —Haas Prof. David Vogel lived as long as he did.”—John Deever

22 BerkeleyHaas Fall 2014 23 In the Back In the Back

Check out books written by alumni at Haas Alumni Notes haas.berkeley.edu/alumni/books.

to do to prepare for the spending the majority ALUMNI NEWS: ACCOLADES & BOOKS UNDERGRADUATE makes an immediate im- 1970 Our Defining Alumni Association has Principles challenge of acceptance. pact both on the pitching Junichi permission to give you of my time representing Last year, more than mound and with a family Student my contact info. my good client General Strategic Conversations: Creating such a great company,” Tobler Yamasaki, of Always 1956 35 students and their in distress, has been a “And my wife’s fine Catalyst Venture Fund and Directing the Entrepreneurial says. “I enjoyed the wonderful Our Defining Tokyo, Japan, parents attended. “We best seller with Amazon, jewelry business has as in-house counsel. The Workforce (Cambridge University award evening together with Norman Par- Principles reports, “After are looking forward to also taken off—great fund is doing great and Press, 2014), co-authored with my lovely wife, Claudia.” sons, of Clovis, Confidence including being listed as working for the Mitsui- without success again. My life demand at the high end. generating many inter- J.-C. Spender (www.cbridge- Calif., reports, Attitude the number one best- Sumitomo Bank, I has been wonderful and Cheers!” esting deals, allowing me partners.com/book). Strong, a The Art and Science “After 35 years selling paperback in new started my own company of practicing den- part of that is due to my sports fiction. On June both to be a lawyer and management consultant and of Negotiation in 1984. Combining what 1977 founding partner at CBridge Part- tistry, I and an associate experiences at Berkeley. 28, 2014, I ran in a track I learned at Haas and the to make good use of the ners in the Greater Boston area, John L. founded a small busi- Thanks.” meet in Southern Cali- MS program in IEOR at Angela DeCarli, of finance skills I learned Graham, interviewed leaders at numerous ness, Global Administra- fornia, and my winning the College of Engineer- Petaluma, Calif., in the Cal business pro- PhD 80, organizations, including EMC, tive Services, LLC, with Rich Tompkins, of time in the 400-meter ing with my experience announces, “I have gram. I am thrilled that Best Buy, and Red Hat, to see professor Redding, Calif., writes, race was among the top recently been elected my daughter Michelle emeritus of me as manager. I had to at Mitsui-Sumitomo how they’ve creatively engaged upgrade my computer “Greetings, Aloha. 10 in the world in my age has been indispens- president of the has just entered Cal as front-line employees to reimagine international Celebrating more than group for 2014.” Lakeville Volunteer Fire a freshman. What could business at skills in a hurry and at able for my career work. their strategies and successfully 50 years as a real estate Department in Petaluma. possibly be better than UC Irvine, has the age of 65 (I’m 80 now) I hope guys at Ehrman implement them. The book offers broker in California and 1965 We operate in southern that? Along with me and co-authored that was no easy task. Hall dorm in Unit 2 still a framework for how managers, Hawaii with The Tomp- my sister Barbara, that Inventive I’ve taken up painting— Vijay (Pandit) Kumar, remember me.” Sonoma County as a Stephanie Fujii, MBA 04, and entrepreneurs, and leaders of all kins Company, Inc.” will make three mem- Negotiation: watercolor and acrylic. of Mountain View, Calif., nonprofit that relies on Courtney Chandler, MBA 96 stripes can optimize the way they informs, “Mountain View 1976 donations. We are in bers of the Cal family.” Getting Beyond Yes (Palgrave Right now, I’m grading 1963 approach change. continues as one of need of a fire station and Alumnae Lead Macmillan, 2014) with Lynda and organizing 650 LP David Glanz, of New 1983 Lawrence and William records for eventual Ronald Cas- Silicon Valley’s important York, N.Y., partner of a looking for donations MBA Programs , of Our Defining , of Hernandez Requejo. The book sale. Any takers? I’m still sano Principles cities. Google is head- law firm specializing in of any sort. Please Mitch Rosenberg Alumnae are now leading two of offers specific techniques running my small busi- Walnut Creek, Beyond quartered here. I am still large commercial real contact me (angela@ Thousand Oaks, Calif., Haas’ graduate degree programs. Yourself showing how to be more ness (trustee services). Calif., reports, on the board of advisors estate matters, writes, decarlipropane.com) if writes, “I am very happy Courtney Chandler, MBA successful with negotiation And I buy and sell 12” LP “Celebrated of Internet Speech, but I “News? Boy has our you are interested!” that I am doing my part 96, who joined the Haas staff in illustrated by real-life stories records. ” our 50th wedding consider myself retired. to ‘give back’ to Cal. 2009, became the director of the world exploded! and the latest research in His fourth grandchild, anniversary (wife Karen).” “I am a member of the Zachary Whitman, see I’m ‘giving’ both of my Evening & Weekend MBA pro- “We are fully engaged neuroscience and behavioral a boy, was due this fall. A retired CPA, he was re- Sierra Club and do hikes MBA 1979 notes. , Andy and Paige, gram last February and executive and working overtime in economics. Every example “So, the all-girl string elected in 2014 to a fifth around the Bay Area to Cal for the next four director in August. Previously major purchases, sales 1981 demonstrates a principle in my family—two term as Walnut Creek with other members. and debt, and equity years as they are both she served as senior associate perfected by the authors’ daughters and three city treasurer and serves It keeps me busy and financings, in NYC and Hal Bogotch, of Los incoming freshmen. I am director of part-time and execu- decades of experience in on the investment com- very proud of their hard tive MBA admissions at Haas. In granddaughters—has I stay healthy. My son across the country. New Angeles, Calif., reports as everything from oil pipelines mittee for the Walnut work and commitment August, been broken. My middle Jay is manager of a civil condo and multi-fam- follows: “Hal has a new Stephanie Fujii, MBA to international peace. Creek Library Endow- to excellence and look 04, was named the first assis- granddaughter says engineering company ily development, office book editing project with she wants to attend ment Foundation. and has to travel all over Chimayo Press, publisher forward to their journey tant dean of the Full-time MBA Thinking about Theft buildings, special-use Program and Admissions, a newly Berkeley. Cal is a family the United States. My projects, campus expan- of Compelling American through Cal. GO BEARS!” created position. A nine-year Swiss Entrepreneur Robert tradition. My mother at- daughter sells real es- sion development for Conversations. Haas veteran, Fujii served most of the Year Tyminski, tended; my father got a tate in Santa Cruz and is not-for-profit institu- “Hal had a lovely fam- recently as executive director of MBA 94, of master’s (English) there; having a decent year. My tions, and much more ily vacation with his wife, Last fall, Chris Tobler, MBA full-time MBA Admissions. In her San Francisco, my sister went to Cal. granddaughter, Linden, as well as representing Laura, and daughter, new role, she will oversee both the 88, CEO of Switzerland-based She was a DZ. Various age 6, just started kin- Annalisa, in the Colum- Sefar Group (www.sefar.com), a clinical every different type of full-time MBA admissions and professor in the cousins also attended dergarten.” player in these deals and bia River Gorge Na- was awarded the Swiss Entrepre- tional Scenic Area, near the full-time MBA program office. Department Cal Berkeley.” at all levels of the capital Both women join Mike Rielly, the neur of the Year award by Ernst Nick Van Valkenburgh, of Portland, Ore. They hiked & Young in the family business of Psychiatry stack. And I do the hard executive director of the Berkeley 1959 Huntsville, Ala., announc- to the top of Multnomah category. The company, which stuff, like long-term, MBA for Executives Program. at UCSF, es, “Retired this year after Falls and attended a manufactures precision fabrics, has recently Sprague Edwards, ‘unsubordinated’ devel- of Twain Harte, Calif., careers with the U.S. Air cousin’s wedding in has been in his family since 1830. published The Psychology of opment ground leases; Strategy and announces, “I became Force, Apple, Boeing, and repping the credit Cascade Locks. Hal and Originally it produced silk bolting Theft and Loss: Stolen and Fleeced Organizational cloth for sieving flour. These days the president of the as a contractor to NASA enhancers in affordable- Laura are also celebrat- (Routledge, 2014). The book Transformation Sefar products are used in various Tuolumne County Cal Alan Mindell, BS 64 and the U.S. Army. Began housing bond financings; ing their daughter’s 10th investigates different types Bruce Strong, industries, including electronics, Alumni Association, volunteering at the U.S. and purchases and sales birthday, which is the MBA 91, offers medical, automotive, aerospace, of stealing, including robbery, by default. Our annual 1964 Space & Rocket Center as of ‘transferable devel- same date, Aug. 26, as kidnapping, plagiarism, and a docent emeritus.” their 13th wedding an- practical advice and architecture. Tobler has been ‘Burgers at the Lair’ took Alan Mindell, of Solana opment rights’ (zoning technotheft, and includes a look niversary.” on how leaders CEO for ten years. Some 2,200 place Aug. 31.” Edwards Beach, Calif., writes, rights). employees work for the company at the economic aspects of the 1966 can transform helped organize Cal night “My novel, The Closer, a “Those in the Haas and renew their at locations in 25 countries. “This Iantha (Adams) Wes- Ken Cera, of New York, crime with research from at the Sonora Library baseball love story about world who want to talk organizations was not only a personal honor but sel, of Blair, Neb., writes, N.Y., informs, “I am a behavioral economics. for junior high and high a career minor league commercial real estate effectively also a high recognition of what “Retired some time ago. partner in a small law school students inter- relief pitcher who finally should call or email. It Mitch Rosenberg, BS 83, with his in his new book, my ancestors have done to create Am enjoying travel and firm, with offices in New ested in attending UC to reaches the majors and would be fun to meet folks in 1979; and today with his find out what they have playing bridge.” you and talk shop. Haas York and San Francisco. twins, Paige and Andy, both Class I have recently been of 2018 24 BerkeleyHaas Fall 2014 25 In the Back In the Back

Go Beyond Yourself: Volunteer for Berkeley-Haas. Haas Alumni Notes haas.berkeley.edu/alumni/volunteer

UNDERGRADUATE of several articles on “Since 1998, I have 1993 expectations—either buy ternative investors. Four the University of Wash- cont. Seeking Alpha, Andrew’s been living in the beauti- Kevin Crow, of Gran- online or preview for free months in, I am grate- ington Medicine Re- activist efforts were ful twin island Republic ite Bay, Calif., reports, at a local independent ful for the educational gional Heart Center. After recently highlighted in a of Trinidad & Tobago. It is “Happily serving at Intel jeweler (more than 150 foundation and network Haas, Jason attended UC Crain’s Chicago Business an amazing country, with helping the world think locations and growing). from Berkeley (and to a Davis Medical School. He article describing the a fascinating and rich faster. “On the personal side, lesser degree—Colum- lives in western Wash- very successful turn- culture, and the most “And some amazing am living in Seattle and bia Business School) ington with his wife, Aye around of Sparton Corp. southern island in the trips this past year! Boy happily married to Yon- and I am excited about Talavera, BS 01. (NYSE: SPA) titled Tales archipelago. nie Woo (Cal 1994). We work (first time!).” Scout groups to two gor- 2003 of a Turnaround. The ar- Through marriage, I have geous camps at Catalina have two children and ticle details Lawndale’s a blended family of eight Island (Emerald Bay) and are enjoying the journey.” Roy Ng, of San Francisco, 2008 proxy fight that led children. Three have Lower Bear Reservoir Calif., informs, “After graduated from college, 1996 five incredible years at to the recomposition of (Winton). Spent a week Alan K. Chuang, BS 94 Sparton’s board and the three are currently in camping east of Yosem- Jeff Cohen, of Beverly SuccessFactors and SAP, hiring of outside turn- college, and the last two ite checking out Mono toward the specific Hills, Calif., forwards the Tania Mirchandani, BS 99, with her husband, Dinesh Mirchandani, I’m excited to embark around management. are still in high school. Lake, beaver dams, and needs of individuals and following news: “Jeff, a and daughter, Mila, at LAX. on my next adventure! None attended Berkeley, ghost town ‘Bodie.’ It’s their families. I wanted founding partner of trans- In September, I joined Andrew Shapiro, BS 83 1984 but one is doing his doc- to bring a higher level actional law firm Cohen Tania (Kapoor) banking sales. Recently Twilio as chief operating amazing how much there Our Defining Mark Metcalfe, of San tor of physical therapy at is to see in our own Cali- of access and service Gardner LLP, has been Mirchandani, Principles moved to London with officer. We’re the leading Andrew Sha- Our Defining Principles Antonio, Texas, an- UC San Francisco.” fornia backyard. to my clients and help engaged by the American of Los Angeles, Confidence husband and kids after cloud software com- piro, of Mill without Question the nounces, “I am now with “Are my kids re- them with all their Bar Association to author Calif., an- Attitude spending three years in munications platform Valley, Calif., Status Quo 1991 a health care provider ally heading into high financial concerns. To a book on negotiation nounces, “I am Shanghai and previously for developers. Simply continues to group called Airrosti; Belinda Martinez, of school? Good thing I learn more about my firm currently titled The Deal- now leading eight years in New York. put, Twilio is revolution- enhance and we focus exclusively on Oceanside, Calif., writes, haven’t aged any. Soccer visit my website at www. maker’s Ten Command- my own private wealth Mother of two children, izing communications by broaden the outreach resolving musculoskel- “My family had a reunion season is on—as I write, twotalents-asn.com.” ments: Business Tips and management team at ages 3 and 5.” migrating legacy systems Melissa, BS 03, and Nicklas efforts of his activist etal issues. The company at the Grand Canyon for my teams are both unde- Tactics from the Trenches Goldman, Sachs & Co to software in the cloud. Skogman investment management is relatively small, but we the first time, and I had feated. Looking forward 1995 of Hollywood.” in L.A. My new business Raphael Our Defining We power some of the firm, Lawndale Capital Principles are growing quickly and no idea of its magnifi- to a great Cal football Brian Watkins, of Se- partner, Anton Serikov, Haas, of San fastest-growing con- Melissa (Calavan) Skog- Management, now in its 1997 Question the are currently in Texas, cence and the breathtak- season as well. We’re go- attle, Wash., informs, “I also went to business Francisco, Status Quo sumer and enterprise man, of London, U.K., 22nd year. He regularly Oklahoma, Ohio, Virginia, ing adventures it offered. ing to surprise (in a good am back in the diamond/ Daniel Abram, of Los school at UCLA Anderson Calif., updates businesses, Uber, Box, announces, “Melissa presents at the UCLA Illinois, and Washington. What I was really im- way)! GO BEARS!” jewelry business after Angeles, Calif., reports, “I School of Management. as follows: “First Airbnb, Salesforce. Calavan was married Anderson’s Directors Marika and I are now in pressed by was the fact leaving Blue Nile in 2008. co-founded Osurv (www. He has a strong invest- alumni note since 2000. com, Intuit, Zendesk, to Nicklas Skogman Education and Certifica- San Antonio, Texas, for that all plastic bottles I realized a few years osurv.com), which builds ment background, mak- Moved: S.F., London, Home Depot, Walmart, among their immediate tion Program, the UC most of the time, but we have been eliminated ago that there had to be cutting-edge mobile ing him a great addition NYC., S.F. Two great boys Coca-Cola, among many families in his hometown Berkeley Haas School do get back to the Bay from the park. I hope a smarter (better) way feedback technology. We to the team. (4 and 10 months). Mar- others. We’ve raised more in northern Sweden on of Business Investment Area pretty frequently.” this will resonate with to buy an engagement help companies under- “My husband and I ried Foothill dorm-mate, than $100M in venture midsummer’s day, June Management Speaker other national parks and ring. Therefore, I founded stand what their custom- had our first child in Jennifer, BS 00. financing and have over 21, 2014. The following Series, and the Council 1986 family cultural venues, to Ritani (www.ritani.com). ers are thinking, so that June 2013. We can’t “After 14 years in 300 employees in S.F., weekend they celebrated of Institutional Investors. Becky (Wong) Liu, of help in the movement for Beyond being a lead- they can address issues believe how quickly she M&A, two kids, and a Mountain View, N.Y.C., with their 35 closest The stock market’s re- Hillsborough, Calif., see reducing plastic waste.” ing designer and U.S. immediately. So far, I’ve has grown. Her name mortgage, it felt like the and London. friends on the south cent focus on corporate David Liu MBA 1998 manufacturer of bridal/ had an incredible experi- is Mila and she is an right time to follow my “Looking forward to my coast of Spain. Melissa 1992 governance matters has notes. fine jewelry, Ritani is ence applying my Haas extremely happy baby. entrepreneurial dream. next adventure and stay- also gained dual British kept him busy travel- Joe Silvestri, of Novato, the first in the category business skills to help We feel so fortunate and In April, we launched ing in touch with the Haas citizenship this year, ing around the country David Liu, of Hillsbor- Calif., announces, “I to embrace the ‘Clicks many companies, from blessed. We are expect- Melting Point Solutions, alumni community!” having spent the past speaking on governance ough, Calif., see MBA recently became VP, and Bricks’ model. Ritani Caesars Entertainment to ing our second child in a smart secondary seven years living in reforms and activist 1998 notes. client partnerships, at Kevin Crow, BS 93 is serving millennial Casio, supercharge their March. Ready for the market platform for al- London. She works in investing. customer service.” adventure!” business development Kiosk Creative. We’re a 1994 He writes: “This past 1988 full-service marketing at Lonely Planet, and Alan Chuang, of Pasa- 1998 2000 year, I spoke at The Soci- James Devers, Our Defining agency dedicated to her husband is in equity Principles dena, Calif., announces, ety of Corporate Secre- of Cascade, achieving amazing re- Irene (Chen) Poston, of Claudia Gallegos sales at Carnegie Bank.” Beyond “After 15 years in the taries and Governance Trinidad, Yourself sults for our clients. We Redwood City, see MBA Cazares, of Fresno, finance industry and 2004 Professionals 2013 Na- reports, “In specialize in strategic 2003 notes. Calif., reports, “Started gaining the CPA, CFA, tional Conference and on March, I was marketing, intelligent a new job in the housing Trevor Nelson, of Los An- and CFP(r) designations, 1999 a panel titled ‘The Great appointed managing di- CRM, and kick-ass development field with geles, Calif., announces I finally decided to start Debate: Shareholder rector/country manager creative. Check us out at Jeff Fong, see MBA 2006 Granville Homes Inc. in the birth of daughter my own firm! TwoTalents Activism in the Board- of G4S Secure Solutions www.kiosk.tm.” notes. the Land Development Chase James Nelson Capital Management room’ at the National (Trinidad) Limited. G4S Department.” Roy Ng, BS 00 on June 9, 2014; son was created to provide Association of Corporate is a large company with Lazarus Wood Nelson a personalized portfolio Directors 2013 Board more than 600,000 , of Dr. Jason Talavera, of was born on Aug. 3, 2012. of investments geared Leadership Conference.” employees and located Brian Watkins, BS 95 London, U.K., writes, Seattle, Wash., was ap- Wife Jessica Nelson is a In addition to authorship “New job in corporate Raphael Haas, BS 00, and pointed as cardiologist at 2005 USC grad. in 120 countries. his family

26 BerkeleyHaas Fall 2014 27 In the Back In the Back

Submit your news online at Haas Alumni Notes haas.berkeley.edu/alumninotes.

UNDERGRADUATE 2007 Titan 1 is the fastest, Kristoffer Our Defining worked at Toyon Associ- few choreography proj- in Kos, Greece, playing tant at Applied Predictive cont. Stephen Maier an- tallest print, high- reso- James S. Principles ates Inc. as a systems ects this fall. If you are a professional women’s Technologies, a big data Student nounces, “My wife lution SLA 3D printer Jacob, of Always programmer since gradu- contemporary/jazz/hip basketball after playing consulting firm.” and I will be moving to on the market today. Vallejo, Calif., ating from Haas. hop dancer or supporter, basketball in China and Kyrgyzstan in a month to Please see http://haas. writes, “I will please reach out to us at Poland last year. She Silver Lin, of South San Radhika Sreeraman is 2011 apprentice in an enter- org/1CGeybo. Thanks!” start my program at alumnidancecollective@ is feeling strong again Francisco, Calif., who in radiation oncology prise that teaches locals UC Berkeley School of Waiz Badar recently gmail.com! You can also after recuperating from spent the summer study- and an ARRO Education to have their own busi- Mike Choe forwards the Law, Boalt Hall, this joined NetSuite as a check us out at face- some knee surgery and is ing for the CPA and LSAT, Committee member. nesses, thus promoting following: “Mike Choe will coming fall semester. senior financial analyst. book.com/alumnidance.” excited to try out for the writes, “My advice to all economic development. It begin his MBA studies at Expected graduation He has lived in the Bay WNBA in 2015. those aspiring accoun- 2005 date: May 2017. will definitely be a change USC Marshall School of Area since graduating Cameron Our Defining tants and/or lawyers: Amy Chou, of Our Defining Business in fall 2014.” “I recently moved back Principles Natalie Yadegar up- Principles of pace!” from Haas, working Tremblay- Start early!” Oakland, Calif., Beyond Beyond to the United States after the past few years in Adams writes, Yourself dates, “Natalie Yadegar is “excited to Yourself Alejandra Dominguez two years of working in finance at NVIDIA. “Looking joined BrightRoll as a XiaoAn Wang, of Boston, be a ‘double Villarreal writes, “[Am] Singapore as an forward to find- market research analyst Mass., reports start- Bear’ as part of academic consultant.” Derek Chen recently Eddie Lee, BS 11, pitching Podo at hardware accelerator ing new opportunities at the end of summer ing statistics master’s currently working in the Highway1’s Demo Day the MBA Class of 2016!” neuroscience field and joined Anaplan, a com- to leverage my growing 2014. She celebrates a degree study at Harvard looking for a position as a Steven Lam forwards pany that provides a Eddie Lee, of Santa my life thus far, but worth experiences in mobile successful transition University. Rick (Kuo Chen) Liu, data analyst/marketing.” the following: “GoGoVan platform for businesses Clara, Calif., updates, every minute. marketing, sales sup- into tech marketing from of San Ramon, Calif., is a rapidly expanding to build financial plans “Founded a company, “Upon moving back to port, campaign manage- health care consulting.” writes, “Since gradu- 2008 delivery-van reservation and assess execution Podo Labs, making a the Bay Area at the end ment, and data analysis.” ation, I’ve pursued Serena Cao is “enjoying and renting service co- against them. Derek small, app-controlled of May this year, some various career paths, the MBA life in London. :)” founded by Steven Lam. will be a model builder camera that sticks other Cal alums from the Eric Wong, of Millbrae, from public accounting It allows customers to in the San Francisco anywhere. Podo will be Berkeley Dance Com- Calif., announces, “I have to corporate finance Alison Sanders, of New request a van and driver office. in retail stores for this munity and I started up recently received my CA to brand finance and York, N.Y., is attending Irina Tagintseva, BS 09, at the for short deliveries or holiday season (www. a dance organization in license as a certified strategy. These wonder- business school at the San Francisco opera transportation through a Stephanie Chen, of San podolabs.com). Had S.F. called the Alumni public accountant, and I ful ventures and experi- University of Chicago, mobile app. The commu- Francisco, Calif., is work- an eye-opening couple Dance Collective. The look forward to continue ences have led me to my Booth, Class of 2016. Irina Tagintseva, of San nity of delivery providers ing with YouTube on De- of trips to Shenzhen, year or two break we building the skills I picked current position. I’m now Francisco, Calif., reports, available on GoGoVan vices at Google and living China, to learn about had from dancing as up from Haas. And I’ve a financial controller/ Christina Starzak, of Los “I was invited to join a ranges from motorcycles, in San Francisco. and manage the supply we entered the real enjoyed spending more CFO for Glazier Steel, a Angeles, Calif., reports, group of mentors for vans, and lorries to even chain and manufactur- world helped us realize time with family after steel fabricator/installer PITME Labs three-week 10-foot to 26-foot trucks. Danielle Chien moving closer to them “Kicking off season two Our Defining ing process for Podo.” how much dancing and located in Hayward. In- Principles as a celebrity producer program (http://www. GoGoVan empowers updates, “After movement means to us. following graduation.” terestingly enough, both pitme.com) to help accel- logistics service provid- Confidence 2012 on Sony Pictures’ The working in San without It’s awesome to still be myself and the owner erate the pace of techno- ers to tap into a city-wide Francisco for Attitude 2013 Queen Latifah Show. The Claire Lee, of Our Defining able to call ourselves Happy Hour hosted on the Amazon campus! Bottom: Rosemary of the company, Tom logical innovation in the pool of demand that Principles new season premieres a large-scale San Francisco, dancers/choreographers Muna Abdu, of Addis Hua, BS 14; Sherry Jiang, BS 14; Kriti Sondhi, BS 14 (Chem. Eng.). Glazier, are Haas 2005 was previously out of Question the September 15; tune in MENA region. In August insurance brokerage Calif., sends Status Quo after graduating, as we Ababa, Ethiopia, has Top: Kevin Li; Shibi Kannan; Frank Li; Raunak Nirmal; Molly Duffy graduates. We’ve known weekdays on CBS.” 2014, I mentored eight their reach. Steven is firm for one year, I now this news: “Fin- thought it wasn’t in the started a new job as a each other since high entrepreneurs from the pleased to share that attend Vanderbilt Law ished teaching cards! We have been marketing officer. school. Recently, Tom 2009 Middle East in business the company is hiring for School in Nashville, some amazing kids for holding classes every 2014 MBA actually officiated at my Our Defining development and digital its expansion into Asia Tenn. I aim to have a Christina Aoun is an Jonathan Principles two years in Memphis, other week in the city Rosemary Hua, of wedding! We’re proud marketing. The second following a successful future legal career in in- ad trafficker (Ad Opera- 1963 Cheung, of Question the Tenn., through Teach For at LINES Dance Center Seattle, Wash., an- to say that Glazier Steel Status Quo batch will graduate from Series A funding round.” Fremont, Calif., tellectual property and America. Definitely the since June, and we are tions) at Hulu. nounces, “Started a new G. Michael Yovino-Young, is currently contribut- the accelerator program announces, corporate law!” two most trying years of planning to start our first job at Amazon.com as a of Berkeley, Calif., is one ing to the Berkeley Art this month.” Shawna Samuels joined “I co-founded business analyst! I’m on of three generations of Museum renovation WeiserMazars LLP in Kudo3D, a 3D printer Christopher Hammond, the transactions team, Cal Bears, with father and the Lower Sproul 2010 January 2014 as a senior hardware company, of Berkeley, Calif., an- working on a machine Joe Yovino-Young (1926), Redevelopment project. auditor in the Woodbury, with a Haas alum, Tedd Lev Eldemir updates, nounces, “I am enrolled that runs millions of and daughter Diana We are the main steel N.Y., office. She has lived (Kao-Chih) Syao, MFE “After more than two in my final year at Boalt transactions through an Yovino-Young (1989). subcontractor on-site. and worked in the state 07. We recently had a years working in fixed- Hall School of Law and algorithm to catch fraud “Celebrating 54 years of We’re excited to be able of New York since Kickstarter campaign income capital markets will be practicing cor- and other risky transac- professional service as to give back to a won- graduating from Haas. for our first printer, the at Citigroup, I now work porate law at Skadden tions. An example of the a real estate consultant derful institution that Titan 1, raising more for Frontier Healthcare Arps’ Palo Alto office work that I do is writing and appraiser, including we know and love.” Ryan Theimer, of San than $680,000. We were Holdings as an opera- beginning next fall. We code to create rules that 30 years as president of Francisco, Calif., joined also featured on Fox tions analyst. Frontier are expecting our first improve the algorithm.” Yovino-Young, Inc. The Monique So reports, PG&E as a senior IT met- Business and many partners with groups of child in April.” company’s offices have “Got my MBA from Kel- rics analyst in September Talia Caldwell, BS 13 other industry media. physicians to help develop Clement Kao, of Berke- always been on Telegraph logg.” and manage ambulatory 2014. He had previously Talia Caldwell, former ley, Calif., informs, “I am Avenue in Berkeley.” surgery centers.” Claire Lee, BS 12, (far right) in her first dance class. Photographed Cal women’s basket- now a business consul- by fellow Haas alumna June Kim, BS 12. ball star, is currently

28 BerkeleyHaas Fall 2014 29 In the Back In the Back

Go Beyond Yourself: Volunteer for Berkeley-Haas. Haas Alumni Notes haas.berkeley.edu/alumni/volunteer

MBA cont. 1979 Our good friend Mother “My new firm is called response is that I would Haas recruiting event at but we are growing a Nature kindly gave us AK Financial Engineering Zachary Whitman re- love to experience the the Stadium Club. He’s specialty in both technol- that big shake at 3:20 Consultants, LLC (or AK ports, “[At New York Life elusive feeling of bore- running for city council in ogy (including Internet of a.m. Had people been FEC LLC). You can reach Insurance Company], I dom! Have not had that San Jose this November.” Things) and health care. 1965 at work in the cellars me at abe@kohen- Our Defining assist individuals, fami- experience in about 40 And we’ve formed some Ron Doak, Principles when the earthquake hit, consultants.com or at years! Would love to hear 1993 exciting partnerships Question the lies, and businesses in of Manvel, Status Quo those tumbling barrels, [email protected]. from anyone else living in Bill Dagley, of with Innov8Med.com and the planning that results Our Defining empty or full, could have “With one daughter Principles Texas, writes, in better liquidity and the Los Angeles area.” San Rafael, Vator.tv. These are excit- “Currently, I’m been lethal. (Cal PhD 2012) in the Calif., writes, “I Confidence ing times!” tax minimization as you without “The 2014 crop looks Pacific Northwest and 1984 Attitude finalizing my second grow your business/fam- currently serve beautiful in Napa Valley; one daughter in grad 1994 novel. My first novel, The ily wealth and in times as president of harvest started early and school in Israel, my wife, Nickel Bag, is available of transition. My clients Private Wealth Partners, David Farcas is CEO at will probably end early, Zahava (Cal BS 1980), at Barnes & Noble and can better understand where we have been Centrovet Vaccines and and we’re all grateful for Stuart Webber, MBA 81 and I traveled to visit on Amazon. In addition, and optimize the balance Lynda Mansson, MBA 90, with her sons Nicholas and Matthew successfully managing Pharmaceuticals for I write screenplays. I’ve the friends and neighbors each: Passover in the between accumula- information systems, and investment assets of Animal Health. completed three and who helped clean up and Pacific Northwest along tions, distributions and visual communication at “Our firm, Traversi Capital happily married to Gary high net-worth individu- one is currently under the visitors who continue the Oregon coast and protections over the near Trinity Lutheran College, Advisors, a FINRA- Miller, a Canadian. They als and families for more 1995 20TH REUNION consideration. Sold or to come share the plea- trips to Israel with its term, midterm, and long located in Everett, Wash. licensed advisory firm, have all just returned than 35 years. The mar- April 23-26, 2015 licensed several of my 10 sures of this special place. great beaches in May term. The products I work He was formerly the continues to grow and from a family reunion in kets are always interest- patents and am attempt- Life is good.” and August.” with are life insurance, department head for the topgrade. In the past Jackson Hole, Wyo.” ing and challenging, and I ing to keep my creative disability insurance, business department. year, our transaction- really enjoy working with fervor to writing novels 1991 long-term care insur- Stuart lives in Seattle side highlight was selling clients on a long-term and screenplays. This is ance, and mutual-fund- with his wife and daugh- a company to Apple, and Jungkiu Choi, of Sin- basis. also my 48th year of high based investments. I ter, while his son, Clark, is our executive advisory- gapore, reports, “As of “This last year has school and college foot- bring focus and process serving in the Peace Corps side highlight was January 2014, I changed been extremely busy and ball officiating. It’s been advising Institutional interesting on all levels: to planning so you can in Azerbaijan. Richard Reeder, MBA 84 my job from group COO, a great and rewarding focus on your family, your Investor’s Family Office retail banking, Stan- travel to Costa Rica, experience. I’ve officiated work, and your friends.” 1982 Richard Reeder, of of the Year on a variety of dard Chartered Bank, to Scotland, Ireland, Eng- games that included Lafayette, Calif., reports, investment platforms.” land, and several trips to Grant Hoag, of Irvine, Ca- partner, head of financial more than 30 current “Spent the July 4 week- institutions practice, Asia Chicago and Montana.” TH lif., announces, “In 2013, I and former NFL players. 1980 35 REUNION end leveraging the Haas became a member of the 1990 25TH REUNION Pacific, of A.T. Kearney.” “A planned visit to April 23-26, 2015 MBA—and pick and Hilary Weber, of San City of Los Angeles Office April 23-26, 2015 California and Berkeley shovel—to move a lot of Francisco, Calif., reports, of Public Accountabil- is on the schedule for dirt for the new propane “I’m loving the entre- Laura Flores, MBA 95 Michaela Rodeno, of ity to provide ratepayer summer of 2015. I live Kim Staking, MBA 80 Jean Imai Von Berg, MBA 83 tanks’ support pad at the Lynda (Shaw) Mansson, preneurial life as the Napa, Calif., sends this advocacy for the De- south of Houston and Oakland Ski Club lodge of Saint-Prex, Switzer- founder of Opportu Laura Flores forwards update: “The August 24 partment of Water and raise exotic and rare Kim Staking, of Fairfield, Jean (Imai) Von Berg, near Donner Summit and land, updates as follows: Startup Leadership the following: “In August, earthquake (6.0) had Power, the largest public breed chickens (www. Calif., announces, “After of Larkspur, Calif., an- old Hwy. 40. Excavations “Lynda is the CEO of the (opportu.com), now in Laura Flores was ap- people all over the world utility in the U.S.A. Our mychickendiaries.com).” a two-decade career nounces, “As of July and forms were done MAVA Foundation, a fam- its third year. We consult pointed as Ambassador, concerned about Napa mission is to enhance at the Inter-American 2014, I started a new and ready for gravel, con- ily philanthropic founda- with startups in all Permanent Representa- Valley, its people, and its public transparency and 1976 Development Bank, and business as a sole crete, and new tanks—to tion focused on the stages, mainly on leader- tive of Panama to the wines. We learned the accountability by inde- Robert Krebs is practic- a few years consulting on proprietor, Larkspur be ready before the first environment. MAVA is the ship, people strategies, United Nations. She was hard way that Cham- pendently conducting ing patent law in Palo international develop- Gardens. Do check it out snowfall. Now, on to the largest private funder of and general business previously the head of pagne bottles, even audits and management Alto and San Francisco ment issues, I joined at www.larkspurgar- water supply.” the environment based issues (‘Whatever it the Panama country empties, are less likely to reviews of the utility.” with the firm of Nixon fall over and break than the faculty of Califor- dens.net.” in Europe and focuses on takes to succeed’). The office for UNFPA, the Peabody LLP. In August, nia State University, West Africa, the Mediter- startups we work with U.N. development agency other wine bottles. So get 1983 1985 30TH REUNION Charles Jones, MBA 90, and he organized a seminar Sacramento (Sac State). Leslie (Stevens) Wein- ranean, the Alps, and a are in various industries, responsible for advanc- ready for the Big One by Abe Kohen, April 23-26, 2015 Richard Jones II, MBA 92 in Silicon Valley for the I am in the finance area Our Defining berg, of Los Angeles, fourth programme called ing critical issues of the stocking your cellar with of New York, Principles Patents for Human- bubbly. and concentrating on Students Calif., writes, “I am begin- Sustainable Economy. International Conference N.Y., updates, Always 1988 1992 ity program. Under the “Although people risk management and ning my second year as Our Defining Through this work (and on Population and Devel- “After a long Principles program, entrepreneurs closer to the epicenter insurance. It is good to an empty-nester! Just Ralph Garcia privately) she travels Richard Jones, of Oak- opment (ICPD) agenda, career on Wall Beyond and other innovators be back in California and sent the kids (19 and 22) Jr., of San Yourself extensively throughout land, Calif., informs, “Still including maternal (five miles from the Street in trading and who deploy patented back to academia. In back to school yesterday Mateo, Calif., the world. at Intel, looking forward health, youth empower- city of Napa) than us technology, I am now a technologies to address addition to the MBA from (Southern California and announces, “Lynda has two grown to my second sabbatical ment, family planning, suffered some damage consultant on institu- global challenges will Cal, I received a PhD from New York City). The first “We finally took a long sons—one is currently next summer. Ran into and gender equality.” (Villa Ragazzi had some tional trading technol- be selected annually for Wharton.” few days are always a family vacation that in- on an eight-month solo fellow classmate Eliot minor breakage/mess ogy, which relies on my awards by the United difficult adjustment, but cluded N.Y.C., Frankfurt, trek through Africa and Minor, MBA 93, while in Nap Hosang, of Berkeley, and no power/water until expertise, for the benefit States Patent Office. For 1981 pretty soon I will adjust Normandy, and Paris.” another is studying at Singapore on business Calif., retired from clini- 8 p.m. Sunday night), of my clients, but is a more information, con- Stuart Webber, of Seat- to the ‘new normal.’ Harvard. She has been earlier this year. And I cal practice four years no lives were lost and nice change of pace and tact Robert at rkrebs@ tle, Wash., is now head of People constantly ask David Traversi, of San living in Switzerland for also ran into Charles ago and now is “just as most injuries amounted quite invigorating. nixonpeabody.com. to bumps and bruises. the schools of business, me what I am planning Francisco, Calif., reports, the past 23 years and is Jones, MBA 90, at a Hilary Weber, MBA 93 busy as before. to do now and my usual

30 BerkeleyHaas Fall 2014 31 In the Back In the Back

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MBA cont. 1997 Our Defining three-year assignment Geographically, I’ve been management issues. My tions on social media. educated in Haas, this fun news, we took the Dan Endries, Principles in New Zealand, enjoying bouncing among New company is named Pied- Life is super full these is my first overseas as- kids to Costa Rica this Question the the new surroundings Zealand, China, and the summer and had a blast! of The Hague, Status Quo mont after the avenue days with the startup signment at work. But the and managing the Smet- U.S., but am always pres- surrounding Haas. grind adding to the hotel business is fun and I highly recommend it as “Not a good sign. Still Netherlands, Gallegos household. ent at alphaglider.com.” “On the personal side I usual joys of time with our guys are trustworthy, a must-do trip with kids.” managing UC Berkeley’s announces, Graciela (age 13), Diego live in Madrid with Maria family. Our kids Mihika so I am enjoying it. It is full first online degree pro- “I am entering my third (age 11), and Catalina Pia and our kids (Mario, and Anushka are 14 of surprises and excite- gram (MPH) and getting year of a three-year 2000 15TH REUNION (age 3) have all settled in 12, and Juan, 8). I miss the and 10 now, and Rupal ment in both work and help from Holly Schroth. expat assignment with April 23-26, 2015 wonderfully at their new Bay Area so much that continues her work as a life, such as swimming Assisting Calix. I lead the interna- Dominic Mon- schools and are quickly I keep telling myself we docent at the Seattle Art with a sea turtle in Waikiki , on tional sales engineering tagu, MBA/MPH 95 becoming accustomed should follow so many Museum. And to add to Beach right off my work- Myanmar health system team and have helped to using Kiwi terms like classmates and move that, we just adopted a place (I never knew there reorganization tasks. grow international sales ‘sweet as,’ ‘heaps,’ and there at some point.” puppy as well (not sure lived sea turtles in the “Vacationed in Colo- of our fiber access equipment over 10x in ‘gumboots.’ We’d love to what we were thinking!). The Nature Conservancy’s Mike human-packed Waikiki) rado mountains recently. Johan Smet, MBA 97, with his see some Haas friends David Liu, of Hillsbor- If you’re in the Seattle Dennis, MBA 99, and Ashland and surfing for the first Considering the move. my two-plus years with children: Graciela (13), Diego while we’re here, so let ough, Calif., announces, area, do look us up— Mayor John Stromberg, PhD time in my life at the age Nine-year-old son who the team, with sales on (11), and Catalina (3) in front of us know if you have “David Liu (Haas MBA we’d love to see you.” 70, leading Congressman Greg of 47. On your next visit to attended our gradua- six continents. Dur- the Trimble Loadrite offices plans to come to this 98/BS 86) and Becky Walden (middle) on a tour. Honolulu, do not forget to tion is now 28 and has ing my travels, I have side of the globe!” (Wong) Liu, BS 86, see me at Halekulani and moved back to California enjoyed meeting with Renee Gallegos-Smet celebrated a next gen- on a forest restora- have our best Mai Tai in from the East Coast. In former Haas classmates and Johan Smet, of Andrew Laszlo, MBA 97 eration Haas milestone tion project outside of the world together.” close touch with in Sao Paulo, Brazil, Auckland, New Zealand, JoAnn Andrew (Andy) Laszlo, with our son Scott, age Ashland, Oregon, and Dunaway, MBA 92, Arno and Cannes, France. update as follows: “The of Hillsborough, Calif., 15, when he graduated recently led U.S. House Tiana Santos, of Rio de , and It has been a great new year brought us Hesse, MBA 95 reports, “This summer from the Berkeley Busi- of Representatives Janeiro, Brazil, continues Dave Charron, MBA 95, experience working with many big changes as Mauricio Quiroga-Pascal, my firm, 137 Ventures, ness Academy for Youth leader Congressman her consulting career, MBA 00 my wingmen keeping me many cultures, learning Johan started in Janu- closed an institutional Summer Academy. In Greg Walden on a tour. joining Ericsson as a out of trouble. We want the various business ary in his new position fund totaling $137 mil- July, Scott as ‘CEO’ of his principal consultant in Mauricio Quiroga- , practices around the as general manager of Laura Flores, MBA 95 lion, which is our largest business team and his Hiro Nakamu- October 2014. Pascal, of Santiago, back in California!—and globe, and developing Trimble Navigation’s re- Our Defining fund yet, so we now have classmates completed ra, of Hono- Principles Chile, announces, “On . relationships with our cent acquisition, Trimble Hazem Galal, MBA 95 more than $250 million entrepreneurship train- lulu, Hawaii, Question the April 2014, I launched partners. Occasionally, Loadrite, in Auckland, Status Quo Tanya (Shaw) Stein- Twenty years coming up.” under management. ing and culminated their updates, , of Mill Valley, Calif., my latest book, Openpre- these relationships have New Zealand. In his new hofer We provide structured program by presenting “Moved from writes, “How time flies! neur: Applied Happiness 1996 personal benefits as role, Johan is managing liquidity products to their business plan for Tokyo to Honolulu this Five years ago, I started to Generate Value and my family and I re- a staff of approximately Daniel Tellalian, MBA/JD 98, Jonathan Geurkink, of Doug Kirkpatrick, MBA 97 founders and employees crowdsourced movie April and started working my own financial plan- Meaning. It has been a cently returned from a 85 and overseeing the and Monica with daughters Seattle, Wash., writes, in later-stage companies scripts.” at Halekulani as SVP/ ning firm, Redwood Grove success in Latin America; combined business trip/ integration of Loadrite’s Daniela (5) and newborn “I have been working as Doug Kirk- Our Defining who are seeking im- secretary/treasurer. For Wealth Management. we just launched its director of research for family vacation to Dubai weighing system for the Principles Fatima patrick, of mediate partial liquidity. Srivats Our Defining those of you who wonder This year, I just rolled third edition. The book and the Maldives, where aggregate, construction, Students Principles Lesa Sroufe & Co. for the Always summarizes all the I helped install the first Queenstown, Typically, people use our Srinivasan, Daniel Tellalian, of Los what Halekulani is, it is a out asset management past two and a half years, mining, and waste in- Question the experiences and novel Calix system on a luxury New Zealand, funds to exercise options of Clyde Hill, Status Quo Angeles, Calif., announc- luxury hotel right on the for clients who prefer to cranking out alpha with dustries into the Trimble methodologies we have resort island and my announces, and pay the associated Wash., writes, es, “On St. Patrick’s Day, beach of Waikiki. From outsource the investing. our value-contrarian portfolio. used at Openpreneur, my family stayed as guests “After 15 years of picking taxes or to buy a home.” “Blast seeing Daniel’s second daughter its enclosed, serene I also had fun partici- investment strategy. I “Meanwhile, Renee consulting company. The of our partner. My oldest international stocks folks at the reunion in arrived (in the car!). He is atmosphere Halekulani is pating in the Personal can’t believe it’s been is taking a break from book gives concrete tools daughter, Molly, couldn’t at Artisan and Janus, I Laila Tarraf has a new 2013. After that, last honored to be listed as called the oasis of tran- Finance Boot Camp at 20 years since I started her affordable housing to use happiness as the join us, as she is starting decided I could deliver job as head of human summer I plunged into the attending physician quility in the middle of the the reunion and catching the Haas odyssey with a consulting practice to main driver to generate her junior year at Cal higher after-tax returns resources at GI Partners my second company as on baby Fatima’s birth ever-busy Waikiki district. up with classmates over remarkable group in the make the most of the value and meaning. The majoring in chemical to my clients by going in San Francisco. Laila an entrepreneur: www. certificate and has a It is a big challenge for me lunch and dinner. In more Class of ’96.” book’s openpreneurial biology. Go Bears!” direct. I launched my on- and her daughter just knownact.com (try it story that never gets old because, although I was line investment advisory returned from a yearlong out!). Yes, tech startups at parties.” tools combine Open Pamela Horick updates, platform, AlphaGlider, to adventure around the do happen outside of Innovation, Design Think- “was recently promoted the public this past sum- world as well! Silicon Valley, folks! Terry Whalen reports, ing, Lean Startup, Social to senior director, chan- mer. We take an ‘actively “Know’N’act is about “We moved offices to Sec- Network Enterprise, and nel strategy, for the passive’ approach—ac- 1998 providing organizations ond and Howard in SOMA. Positive Psychology. It is market strategy and tively managing asset Mario Álvarez Fernán- the ability to capture Please come visit.” currently being trans- sales operations divi- allocation using ultra dez, of Madrid, Spain, real-time, contextual lated into English and sion of Kaiser Perman- low-cost, passive index updates, “After many customer insights and 1999 Chinese and will be avail- ente. I will be evaluating exchange-traded funds years of management closing the loop with Mike Dennis, of Port- able in those languages channel opportunities (ETFs). I’m enjoying the consulting and a few as them via a rich array land, Ore., writes, “City in 2015. To order, just go to optimize membership freedom and challenges MD of a mid-size firm of responses. We help of Ashland Mayor John to www.openpreneur. growth in the most effi- of being an entrepre- I am currently advising businesses improve Stromberg, PhD 70, and com. Go Bears!” cient and cost-effective neur, and I am thankful mid-market companies their customer loyalty, The Nature Conservan- way.” The Endries family in the Maldives: Bailee; Dan, MBA 97; to Haas for preparing on varied business and increase revenue, and cy’s Mike Dennis have LouAnn; and Riley me for this moment. manage their reputa- been working together Hiro Nakamura, MBA 99, at Diamond Head with his family

32 BerkeleyHaas Fall 2014 33 In the Back In the Back

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MBA cont. mies. He writes, “Writing Bend Bulletin’s quarterly now working at Stanford 2004 chine costume (from Iron a book on gold in 2014 magazine devoted to University. While I love Andrew Sheppard re- Man 2) for Comic-Con.” feels like writing Dow women’s mind, body, and my job, I never forget the ports, “This past August 36,000! in 2001 after spirit. She has also been fact that I got my start I stepped into the role of Cameron Doolittle, the market had crashed. quoted in a Forbes at Berkeley. In fact, I’m COO for GREE Inter- of Falls Church, Va., Nevertheless, this work Woman article, “Why finding a lot of Cal folks national, a subsidiary announces, “I serve as should contrast with Success Can Be Uncom- here!” of GREE Inc., a leading president and CEO at many existing books fortable (And What To Do mobile game company Jill’s House, a ministry relating to gold investing. About It),” and inter- based out of Tokyo, Ja- to families raising This book is presented viewed for two podcasts, pan. In my new role I’ll be children with intellectual in four sections. The first A Congruent Life and helping the 300-person disabilities. part presents the context Create Your Own Reality. organization jump to the “We have four amazing of rising global liabilities She was nominated for kids (ages 9, 7, 6, and 4).” next level. I am excited to Diego Melazzi, Giambattista Selvaggi, Juan Hernandez, and that questions the resil- the Bend Chamber of Seth Halpern and Aaron McNally, both MBA 02 mix things up!” Thomas Winkler, all MBA 05, at the World Cup stadium in Natal for ience of traditional safe Commerce Entrepreneur Brad Irby, of Buenos the Uruguay vs Italy game. assets and highlights of the Year award but Aires, Argentina, updates and Portugal. They 2003 TH the current relevance lost to a gelato manufac- 2005 10 REUNION as follows: “Late last year, Cheryl Strachan, MBA 00, with reminisced about their ‘futbol’ or rugby and 2007 of gold investing. The turer. It was a bitter- Sophia Bowers forwards April 23-26, 2015 I moved to Buenos Aires Kayla (6), and Nicole (3) glory days on the Haas having Argentine BBQs Michael Berolzheimer, second section explains sweet loss as she’s a this update: “In summer and launched a new Soccer Club while hiking (asados) with our new of Lafayette, Calif., writes: the dynamics of gold huge fan of gelato. 2014 Sophia Bowers business in outsourced Cheryl (Proctor) Stra- through the Amazon friends. Marcela has “What a year for the class prices. The third section “Haas continues to be joined Keysight Tech- software development. chan, of Calgary, Canada, jungle and are now Irene Poston, MBA 03 been able to reconnect of 2007! I was honored of the book is pragmatic, a great source of sup- nologies as a business The unique combina- writes, “I left my job as a contemplating whether with her law school to join TubeMogul co- focusing on investment port. Karen Beth Peiler development manager.” Daniel Rabb informs, tion of an educated work dietitian in May to try my to head to Russia in four friends, and she is loving founders John Hughes, opportunities derived and Kimberly Gates “Red Tower Capital, Inc. force, similar culture, and hand at something more years for the next Cup.” being closer to family. Brett Wilson, Mark from this unique asset. Barker, both MBA 00, James Eron, of Palo Alto, is a private real estate similar work hours make entrepreneurial. Have We are very happy here!” Rotblat, and Alex Hood The fourth section of the have both been on Call of Calif., writes, “Moved lender. Our mission is to outsourcing to South been quietly making Marc Rahlves, of New in New York to celebrate book is mostly descrip- the Wild trips in the last to Palo Alto: Seven efficiently deliver com- America a more pleasant plans in-between Cal- York, N.Y., reports, “In July, I Thomas Winkler, of TubeMogul’s IPO on the tive and deals with the year; Rumesha Ahmed, years after co-founding petitive alternative real and successful venture gary Stampede and other started my new job as the Seattle, Wash., reports, “I Nasdaq! characteristics of gold. BS 03, asked me to our server operations estate financing to inves- for our clients. With summer adventures with COO of Nuru International, had a chance to recon- “Bee Partners, my The book is readily avail- speak for her firm, HSBC, company China Net tors and owners alike the demand for techni- our two daughters (now a social venture devoted nect with several Haas seed-stage VC firm, is able on Amazon (paper- and a classmate from Cloud (and nine total in throughout California. cal services growing 6 and 3). Will hopefully to fighting extreme friends during a trip to evolving and growing— back and kindle).” 2002, who wishes to Shanghai/China), I’ve Red Tower Capital also Yan Chow, MBA 05 every day, we are growing have something more to poverty and finding the World Cup in Brazil we now have employees report soon!” remain anonymous, do- relocated back to the purchases loans and faster than expected. in June. We hung out 2002 solutions to end world and continue to focus on nated funds for the first Bay Area to launch our loan pools and partici- Yan Chow, of Our Defining “My wife, two sons, with MBA 2005 class- poverty in remote, rural Principles Berkeley-led startups. 2001 Call of the Wild advertis- U.S. offices. Awesome to pates in real estate joint Orinda, Calif., and I moved to Buenos areas in our lifetime. It has Beyond mates Rogerio Scatolini, We’ve been first inves- ing campaign in Women’s be back. Kids love their venture opportunities, Yourself Aires to be closer to her Mourtaza Asad-Syed, been a whirlwind of writes, “At the Christian Fuentes, Diego Adventure Magazine’s new schools, and it is primarily in the Northern family and to explore a tors now on nearly half of Geneva, Switzerland, activities, and I just end of Au- Melazzi, Giambattista fall issue.” great re-connecting with California area.” different way of life. The of our investments and has just published the returned from our projects gust, I will be Selvaggi, and Juan Her- alumni and old friends.” kids have adapted very continue to be amazed Gold Investing Handbook: in Kenya and Ethiopia, transitioning from Kaiser nandez—and obviously Michael Golden, of Jennifer Sang, of Hercu- well over the last year by the pace of innovation Protect Your Assets from which are truly inspira- Permanente to LongView had a great time. Rogerio: Shanghai, China, up- Juan Mijares reports, les, Calif., announces, “In and are speaking the happening worldwide. If the Upcoming US Debt tional. Next year, we will International Technology Thank you for being a dates, “A busy summer “In his 11th year post- August 2014, Jen Sang language like natives. you or your colleagues Default! (Investment open our U.S. headquar- Solutions as chief inno- great host!” saw the launch of a side Haas, Juan co-founded will join the UC Berkeley The transition was a are starting a company, & Strategy, 2014). The ters in Southern California vation officer to work on project to help par- People as a Service in College of Engineering bit tougher for daddy, 2006 call us! In addition, I’m book is focused on gold and I look forward to being new ventures. This will ents find international Miami, Fla., and leads as the executive director but I’m enjoying the investing in the context back on the West Coast involve commuting to the Jeff Fong forwards this schools in Shanghai, as the chief multifunc- of the Coleman Fung experience. We spend of unsustainable public and to reconnecting with Washington, D.C., area, news: “This summer www.chalksmart.com. tion officer (CMO). PaaS Institute for Engineering most weekends playing debt in developed econo- my classmates and the although I will still call Jeff Fong joins the San Emilie Cortes, MBA 02, on the Perfect timing as my provides pre-qualified Leadership, a center that wider Haas community. the Bay Area home. Francisco 49ers as a cover of U Magazine 3-year-old Olivia is en- talent to businesses, educates engineers and “I also got married in “Our two older chil- senior manager, financial tering preschool!” utilizing the rise in the scientists seeking pro- April of this year to Ana, dren are now in college planning and analysis. Emilie Cortes, Our Defining freelance economy fessional and executive Principles whom I met during my while the youngest is His transition into the of Bend, Ore., Seth Halpern, of and technology that careers. Jen has spent Confidence time in Colombia. a high school junior. business of professional continues to without Austin, Texas, writes, allows them to work the last decade spear- Attitude Fortunately, Germany and This past summer, the athletics follows eight run Call of the “Haas 2002 alums Seth effectively from across heading academic and Colombia did not meet oldest completed a data years in tech finance for Wild Adventures Halpern and Aaron the globe. Learn more organizational initia- each other at the World analytics internship at Juniper and Agilent. He from Bend and is happy to McNally (NYC) hit their online: http://peopleas- tives at Haas, including Cup this summer :). Also, PayPal while the second is a double alum who third straight World Cup aservice.co/.” development of the MBA report positive momen- I became an uncle last oldest took an intensive also earned a bachelor’s tum in her new entrepre- together. They traveled BILD curriculum and the two-month Mandarin degree from the Haas year, and it turns out that I Brett Wilson, Michael T. neurial (ad)venture. She across Brazil and saw Irene (Chen) Our Defining master space plan.” language immersion School in 1999.” am not horrible with small Principles Berolzheimer, and John was the subject of a cover a number of games Poston, of Red- program in Beijing. children.” Beyond Hughes, all MBA 07, celebrating Mourtaza Asad-Syed, MBA 01 story for U Magazine, including the US team’s wood City, Ca- Yourself Meanwhile, the youngest lif., writes, “I am The Irby family: Lucas; Brad, TubeMogul’s IPO in New York City. matches against Ghana made her own War Ma- MBA 05; and Max

34 BerkeleyHaas Fall 2014 35 In the Back In the Back

Go Beyond Yourself: Volunteer for Berkeley-Haas. Haas Alumni Notes haas.berkeley.edu/alumni/volunteer

boy Mihir to our family! and most recently as cally, it was my child forwards Chan to our family in Giulia, and I welcomed Google, Lolapps, News- MBA cont. Alexis Green, of Our Defining Quang Tran Seattle, Wash., Principles Born Saturday, Aug. 9, executive director, head with life-threatening this news: “Clingme was 2013. She brings so a healthy and alert baby Corp, WineGlobe, etc.” Question the 2014, around 4:30 p.m. of technology origination food allergies who was co-founded by Quang H. much joy and happiness girl, named Maria Fran- announces, Status Quo “Got engaged Pacific Time.” with GE Capital. much more open and Tran, with an ambition to to us daily.” cesca, in the early hours Galina Vlaeva, following enjoying my work at happy to eat foreign connect local merchants of July 9. Our twins two years with eBay Inc., to Kirk O’Brien. 2009 2011 CalFounders, an alumni- Getting married January foods, such as tradi- with potential customers. Joseph and Rocco— joined Google as a mo- only program for UC 31, 2015, in San Diego.” Vidya Chadaga sends tional Korean dishes. I The app aims at providing born while I was in the bile/local shopping lead. Berkeley founders. We this news: “In July 2014, highly recommend tak- a customized experience EWMBA program and connect once a month Vidya Chadaga joined ing children on interna- for users in exploring local now almost 5—have 2013 to discuss founder chal- Marketo as director tional trips; it definitely life such as shops, food, taken to the role of older Kevin Callaghan joined lenges. Feel free to sign of product marketing. broadens their world and entertainment. Cling- brothers very well.” EasilyDo as senior up at calfounders.com.” Vidya has built a career perspective!” me was first launched director of enterprise in product marketing and in June 2014 in Vietnam Justin Owen is leading business development Nate Bucholz announc- product management in Ming Hua, of Shanghai, and is expected to roll out corporate FP&A at in the summer of 2014. Sarah Morra, MBA 13, and Rich es, “We’re moving back to companies including SAP, China, writes, “I recently throughout Southeast Barracuda Networks and EasilyDo is a productiv- Qualters hiking on Angel Island San Francisco! After four Oracle, and ServiceMax.” joined SAP’s Shanghai Asia in the near future.” recently married. ity app, aka a vir- in the Bay Area years in London, my wife, Vijay Raghuraman, MBA 07, office as senior director, tual personal assistant, Anya, and I will return with baby boy Mihir Adrian Greystoke, of GC strategy and plan- 2010 5TH REUNION Opal Perry, of Bel- available for free on iOS 2014 with our son Lev (age Miami, Fla., writes, ning. I spent the past April 23-26, 2015 fast, Northern Ireland, and Android. 2.5). We should be back April Underwood serves “Started a new job as 2.5 years as the chief of Thomas Chalberg, MBA 11 updates, “Opal and her in April and would love to as director of product at director of technology staff–strategic program wife, Leesa Tori, are Ariel Dekovic, of Berke- rekindle the friendships Kevin Hill, MBA 07, and Dahlia Twitter. at Carnival Cruises, so management for Cisco Gary Coover writes, “I Thomas Our Defining relocating to Belfast, as ley, Calif., Principles and network.” moved to Miami, just Systems.” spent 2013 helping to Chalberg, of Opal assumes the new announces, Our Defining 2008 Students Principles Kevin Hill, of Oakland, downtown.” architect and launch the Redwood City, Always role of chief operating “I recently Samsung Accelerator (NY Beyond Ori Elkin is working on an Calif., reports, “I left Ramy Ali is working as Usman Khalid has Calif., sends officer, Allstate Tech- started as the Yourself and PA offices). For 2014, “exciting social solution for ADSK after eight years “a management Brynn Hadler, Our Defining worked internationally this news: nology and Operations interim execu- the gay community. Details to join Ventyx, the soft- consultant in the Middle of Sydney, Principles for Standard Chartered we’re looking to recruit “After leaving Genen- International. They are tive director Confidence entrepreneurs to lead in TechCrunch soon.” ware division of ABB, East—with a model like Australia, without Bank since graduat- tech in 2010, I have been excited for the expat at City Slicker Farms, the manufacturing gi- no other management writes, “I’ve re- Attitude ing from Haas. In 2013, new teams. Additionally, working on a startup experience and hope a West Oakland-based Seth Familian, of San ant. I’m helping us bring consultant. :)” cently started he took on the role of I’m happy to connect biotechnology company, to see some former food justice and urban Francisco, writes, “Just to market industrial a YouTube channel with product head, credit anyone to our early-stage Avalanche Biotechnolo- BCEMBA classmates in agriculture nonprofit. launched http://maptiv8. software for making the Ketan Babaria was information on food cards, based out of the investment, acquisitions, gies. Our mission is to Belfast or elsewhere in I’m getting to use my ac- com—the pivot for my promoted to senior direc- allergies. Go to youtube. Singapore office. and partnerships team.” save the sight of people their travels.” counting, strategy, mar- most of our electric util- Gustavo Brandileone, MBA 14 startup. It’s really cool! ity grid. Very rewarding, tor and head of product, com/user/Allergy- suffering from blind- keting, leadership, and What a whirlwind the Frankie Roohparvar was Rey Fernandez sends indeed. D3 Incubation Unit at Bytes1. ing diseases, using the negotiation skills all at Gustavo past few months have CapitalOne. In his new “My book, 7 Ways to promoted to CEO of Sk- this update: “After 14 transformative power once, practically every Our Defining “My wife, Jenny, and Brandileone, Principles been. Launched two new yera, a provider of enter- years of Bay Area living, day. It’s exhilarating and I had a lovely daughter, role, Ketan will play a Get Your Children to Eat of gene therapy. We of Cupertino, Students brands (Maptiv8 and prise solid-state storage am going back to my Always Dahlia, in December, major leadership role in Healthy Food, will soon recently moved our of- incredibly rewarding.” Calif., reports, “I RSVPeeps), learned lots systems. The company hometown of NYC in and she has kept us CapitalOne’s exploration be available in print fices to Menlo Park and recently joined about company build- was featured in the Gart- July 2014 to head up very busy. I also partici- in disruptive consumer version on Amazon. It completed our Series B James Forbes, of El Se- the worldwide supply ing and pivoting, and ner report “Cool Vendors day-to-day operations of pated in a mentorship products. was originally published financing ($55M) in April gundo, Calif., relocated demand management somehow managed to in Storage Technologies, Manhattan Prep.” program called Spark. I as an e-book. First pub- 2014. We entered into to Southern California in team at Apple and moved have fun along the way. 2012.” For the two years highly recommend it!” Rand Wacker, of lished book! a major R&D collabora- 2014. He took a new role to Cupertino. Enjoying life Looking forward to the before this promotion, Rahul Jauhari is cur- San Francisco, Calif., “We traveled with our tion with Regeneron within Chevron, where in the South Bay but miss adventures the coming Frankie worked as the rently working on a new Daniel Lahoz, of Sao was promoted to VP, children to Korea and to Pharmaceuticals in May he had worked while Berkeley and Haas a lot.” months will bring and Paulo, Brazil, writes, enterprise product at Austria this year. Ironi- firm’s COO. startup in ed-tech. 2014. Most recently, in completing his EWMBA psyched to stay con- at Haas. “joined Bank of America Box in San Francisco. He July we completed our Brandon Doll, of nected with everyone in Sean Simplicio reports, Joel Gutierrez, BCEMBA 11/12, Our Defining Merrill Lynch as VP, group joined the company as a IPO and are now listed Berkeley, Calif., Principles our amazing class. “My band, The Top and Opal Perry, MBA 11, catch- operations manager.” senior director, enterprise on NASDAQ (AAVL). We Sarah Morra, of San informs, “After Beyond “Finishing off the Scores, had our first ing up in Chicago Yourself product in 2013 and has are growing rapidly so Francisco, Calif., is plan- working part pivot of GradMap into successful gig on New Vijay Raghuraman, of built a career in product please spread the word! ning a wedding with her time for the Maptiv8—a data visu- Year’s! Please ‘like us’ on 2012 Fremont, Calif., updates, management since “Stefanie and I are con- fiancé, Rich Qualters. Oakland Raiders while alization platform. This our Facebook page to Manu Rekhi reports, “On the work front, Bill. graduating from Haas. tinuing to live in Redwood They will be getting finishing up the second Map won’t be going any- get updates about “Joined Inventus as a full- com, the company that I City. We now have two married at Lake Tahoe year of my MBA at Haas, I where, but the interface upcoming shows time investor in summer joined right after my Hull Xu returned to the children who are our pride in the spring of 2015. began a full-time, hybrid is about to get a whole (facebook.com/thetop- 2011 after four years as MBA, continues to grow, Bay Area and his former and joy: Annika (5) and Sarah also joined the finance/strategy role in lot more interesting in scores). Coming soon to venture partner. Investor and we have an increas- company Barclays Invest- Alexander (2).” S.F. affiliate council of mid-July with the team. the coming months! an arcade near you!” and advisor to FarFaria, ing group of Haas MBAs ment Bank in September Out & Equal, a nonprofit During my part-time Big thanks to Haas for Credit Sesame, ViVu, in our products team. 2014. He spent the past Joe McPherson, of organization that sup- work, I was fortunate to inspiring the growth Jacqueline Yuen Genwi, Dhingana, and “Also, we are super six years in Asia, first with Brynn Hadler, MBA 09 (center left), surrounded by her son, Washington, D.C., writes, ports LGBT diversity and work on a project for the and development of the announces, “Alvin and I more. Entrepreneurial and workplace rights. excited to welcome baby Barclays Investment Bank daughter, and husband at Lotte World in Seoul, South Korea. “Hello Haas! My wife, Raiders with MBA 2014 platform.” welcomed Avery Claire industry background at

36 BerkeleyHaas Fall 2014 37 In the Back In the Back

Submit your news online at Haas Alumni Notes haas.berkeley.edu/alumninotes.

MBA cont. for our second home corporate accounts, Kurt Zhao, of Dublin, Sonya Kim, of Our Defining “Heading for holidays IN MEMORIAM preseason game, against launched FindLight 1.0, Calif., announces, “I will San Carlos, Ca- Principles on the Côte d’Azur—will Beyond the defending Super hired a full-time start a new job at Relay- lif., has founded Yourself report back. Organizing a Bowl champion Seattle marketing manager and Health!” the Kindness Cuban night in the south Social Entrepreneur Priya Haji, MBA 03 Seahawks, which the are currently working on Program, which of France!” Priya Haji, MBA 03, the co-founder of Free classmates Alex Justice, Raiders won 41-31. It was FindLight 2.0. Seferyan Leona Zou, of Dublin, Ca- reaches out to seniors Cleya Ormiston, Christine at Last, World of Good, and SaveUp, passed a privilege to share our says: “See what Find- lif., is a program manager who may be experiencing 2012 Tringale, and Steffanie away unexpectedly on Monday, July 14. work with Minah and Light is about at youtube. at the Baidu U.S.A. office the loneliness of infre- Robert (Rob) Willey Johnson-Magnus for She was 44. Born in , Haji earned a Professor Nelson, both of com/watch?v=Yf_hUY-_ in Sunnyvale. quent meaningful human was recently promoted Professor Leif Nelson’s bachelor’s degree in religious studies and whom provided great LLM. And if you are in this interaction. A group of to general manager, marketing research class pre-med at Stanford. After earning her MBA feedback for the project. industry, please visit at trained, caring listeners senior director Digital + project. The project called at Berkeley-Haas, she pursued her vision And it looks like they had www.findlight.com.” BCEMBA will engage seniors in Ecommerce at Method for us to inform a go/no go of improving economic opportunity and a pretty good time conversation to under- products, where he has decision by the Raiders to 2006 equality by co-founding three companies. enjoying the fruits of our Nick Livingston, MBA 14, with stand details pertaining worked in marketing overhaul two existing labors!” Corinne, Alex, and Emma in Mark Osterhaus, of Na- to their emotional well- roles since 2013. He lives Free at Last is a national model program for areas in their home Colorado ples, Fla., reports, “After ness and physical health. in the S.F. Bay Area. substance abuse treatment and HIV/AIDS stadium, O.co Coliseum Nicholas Livingston, of a long, fruitful run with Seniors who are chosen intervention in the African-American and (the Oakland A’s dugouts), Oakland, Calif., announc- frustrating to job-seek- Caesars Entertainment, will receive this service for Latino communities. World of Good, a retail and transform them into es, “After a whirlwind two ers. Visit honeit.com/ I have left to join a small free for the first 30 days. MFE marketplace and wholesaler of sustainable field-level lounges for years with TubeMogul, expert to sign up and but growing hospitality The Kindness Program and fair trade products, improved the lives of purchase by corporate becoming a new Dad (x2) give back today!” management company is part of a new and 2013 thousands of women artisans in 55 countries. sponsors looking to to Alex and Emilia, and based in Naples. Our expanding social venture Travis (Haining) Fu, of It was acquired by eBay in 2010. SaveUp, where Haji was serving as CEO at entertain their employees Peter Nilson, of Berke- wrapping up his EWMBA, focus is on hotel/resort, called One Caring Team, New York, N.Y., writes, “re- the time of her death, is the nation’s first rewards game for saving money and and clients during ley, Calif., writes, “After Nick went all in founding golf, and condo associa- created by Dr. Sonya Kim, cently joined S&P Capital reducing debt. Raiders’ home football graduating in May, I Honeit.com in August. The tion management. My a successful entrepre- IQ as an associate direc- games. missed Berkeley so much Haji was a consistent contributor to the Berkeley-Haas community. She Honeit platform allows Tejas and Karthik Suryanaray- new role is senior VP of neur and board-certified tor, creating quantitative “After extensive that I couldn’t stay away! served as a mentor for the Young Entrepreneurs at Haas (YEAH) program job-seekers to ‘hone’ anan, MBA 14 operations, sales, and emergency physician models for the global research and analysis, we I’m back on campus as and delivered a keynote address at the Global Social Venture Competition their interview skills by marketing. with 20 years of experi- market intelligence recommended in a director of The Student (GSVC) in April 2014. Haji won the GSVC in 2005 with World of Good. booking industry experts Karthik Suryanaray- “The family has moved ence in health care. team’s portfolio advisory presentation to Raiders’ Store, Berkeley’s largest Haji’s honors include being named a Young Global Leader by the World who provide real-time anan, of Los Angeles, to Naples, and we are Through her medical business. After gradu- executives that the team supplier of Cal apparel, Economic Forum; a Social Innovation Leadership Award by the World CSR interview feedback and Calif., announces, “I will happy to be living in a house calls, she dis- ating from Haas Travis pursue this opportunity. gifts, and textbooks. Stop Congress, a non-profit organization whose annual conference celebrates tailored career advice. be starting as a consul- small corner of para- covered a link between joined Bank of America Three months later, the by and say hello the next corporate social responsibility; and inclusion in GOOD magazine’s GOOD Job-seekers can then tant at L.E.K. Consulting dise! Matt is beginning social isolation and a Merrill Lynch as a senior Oakland Raiders time you’re on campus. promote highlights in the Los Angeles office his sophomore year at decrease in the quality of quantitative analyst.” 100, a list of people driving change in their communities in creative and launched new field-level from these interviews to We’re located at 2480 in September 2014. I was Cal, hoping to be in Haas life in aging adults. One inspiring ways. The Priya Haji Memorial Fund has been established to benefit lounges, during the first employers during their job Bancroft Way. recently at Apple and at the start of next year, Caring Team’s mission is programs and students interested in social innovation and entrepreneurship. home preseason game search, saving everyone “Before starting the previously at Stryker while Pat is a freshman to address this condition Donate at haas.berkeley.edu/IBSI/priya. against the Detroit Lions. PhD time now that a resume new position at Cal, my Endoscopy. It has been a at Kentucky, studying and reduce health care On August 28, Professor isn’t enough. Screening wife, Manya, and I found year of changes: My son, chemical engineering costs associated with this Nelson and his PhD Charles Hazen, BS 38 John Abramson, BS 50 Richard Shryock, BS 53 for culture fit has become time for a whirlwind trip Tejas, was born on April and pre-med. Emily has demographic and rejuve- teaching assistant, Minah highly inefficient and of Belgium and the Neth- 30, in May I graduated, begun her sophomore nate their hope for regular Peter Avenali, BA 39 Robert De Maris, BS 50 John Fetros, BS 54 Jung, were able to join costly to recruiters and erlands, where we richly and now I will be relocat- year at her new high meaningful connections Martha Slade, BS 39 Donald Hash, BS 50 Mitchell Glenn, BS 56 me in a field-level lounge hiring managers and enjoyed the art, architec- ing with my family to Los school in Naples.” with others who care.” David Rea, BS 40 William Isaacs, BS 50 Jerry Abbott, BS 59 ture, and Belgian beer.” Angeles after seven years John Rosston, BS 42 Merlin Murphy, BS 50 Adrienne Segol, BS 59 2008 in the Bay Area!” Juergen Jack Canvin, BS 43 Wade Nittler, BS 50 Nicholas Nicoletti, Hrant Seferyan, of Our Defining Schmidt, of Principles Sylvan Heumann, BS 46 David Parkinson, BS 50 BS 62 Berkeley, Calif., is also an Abigail Tinker, of San San Fran- Question the Barbara Friedrich, James McNally, BS 65 alum from the NSF/I- Francisco, Calif., sends Status Quo Gilbert Castle, BS 51 cisco, Calif., BS 47 Robert Guthertz, BS 71 Corp 2013 startup this query: “Are you Lewis Girard, BS 51, and Munich, Richard Ward, BS 47, MS 59 Gregory Moore, BS 71 incubator program. After considering a new Germany, writes, Florian Forster, PhD 13 MBA 69 Bernice Glueck, BA 51 Eugene Chu, BS 73 emerging from the car purchase? Get an “Excited to work at SFDC John Danner, BS 48 William Hirose, BS 51, Robert Garrity, BS 73 intense seven-week electric vehicle!” As an to bring some innovation 2013 program his team EV program manager George Nicholaw, BS 48 JD 57 David McKendrick, to European big clients. Florian Forster, of founded FindLight, an at PG&E, Abigail is hard Fun to work with a very Wilbert Yopp, BS 48 Lawrence Lew, BS 51 BA 75, PHD 89 online catalog, search at work finding ways to Munich, Germany, writes, Victor Destin, BS 49 Charles Sheedy, BS 52 Leah Harhay, BS 95, fast-growing company “Looking forward ‘big engine, and marketing support EV adoption and Jesse Fackrell, BS 49 James Craig, BS 53 JD 02 and a truly forward-think- time’ to start with this in- platform for the photon- help California meet its Horace Firth, BS 49 Donald Dorward, BS 53 Priya Haji, MBA 03 ing CEO. Any summer credible bunch of people ics industry. They GHG reduction targets by interns interested, I can Dorothy Berelson, Sonya Kim, MD, BCEMBA at Amazon. Back in David Mayer, BS 49 John Doyle, BS 53 launched the beta in making it easy for you to point them in the right Friend 07/08, CEO and founder of Munich with Doro, Henri, John Paul, BS 49 Harold Makishima, April and since then charge your EV. Mary Dennison, Friend One Caring Team direction. Douglas Raaka, BS 49 BS 53 Haas PhD candidate Minah Jung, MS 12; Brandon Doll, MBA 14; secured several leading and little Greta.” Robert Haaf, Friend and Haas Assoc. Prof. Leif Nelson at the Raiders game Ronald Richards, BS 49 Raymond Moser, BS 53

38 BerkeleyHaas Fall 2014 39 In the Back Volunteer Haas Personal View Laurie Peterson, MBA 11 Pay it Forward:

legal restrictions on my fundraising. If you take non-ac- Laurie Peterson, MBA 11, credited investments, consider allowing six months to pass is an award-winning toy for Berkeley-Haas before your next round to allow these restrictions to lift. designer and the founder of Build & 3. Government and private grants. I was particularly interested in the National Science Foundation’s Small Imagine, a toy start-up Business Innovation Research grants as our product creating constructible is educational. These ended up not being the right fit. play sets to get girls They’re for R&D, and we needed executional money. building. The first three Our alumni sets (one shown left) will 4. Accelerator programs and startup competitions. start shipping in community thrives , , StartX, and Berkeley’s November. own SkyDeck offer office space, mentorship, and often thanks to volunteers cash in the form of a convertible note. Competitions offer prize money as well as connections. Build & Imagine won who understand the $2,500 and was offered $50K in investment via Berkeley- Haas’ LAUNCH. value of giving back. Wise Investments 5. Consumer crowdfunding. Build & Imagine raised $30,000 with Kickstarter to fund our design stage. When VC funding isn’t right for your startup Consumers essentially pre-ordered the product before Six months into founding my dream toy company, it was even designed. Crowdfunding can work well for Build & Imagine, I landed a meeting with the venture physical products that have consumer appeal. capital firm I had most admired. They had a fresh 6. Accredited investor crowdfunding. Combining entrepreneur-friendly approach and had invested in money from a lot of different angel investors saves a lot early stage companies in my product category. I had of time and increases your access to investors. It works even applied to intern with them when I was at Haas. best with a respected lead investor whom other investors So, I was prepared to give the pitch of my life to get the follow. I’ve heard good stories of AngelList and CircleUp. funding my startup desperately needed, right? Wrong. I was there just for advice. 7. Individual Angels. Angels tend to approach investing Sometimes venture capital money is not appropriate in startups less systematically than VCs, so they may be for your business. If many of the following are true about open to product categories and businesses that don’t fit your company you may want to explore an alternative the VC model. I needed to find investors who shared my fundraising path: non-tech, hardware or physical prod- passion for providing girls with the building blocks to uct (though this is starting to shift), seasonal and/or hits- become tomorrow’s innovators. I told a compelling story based business, mature or declining industry, profitable about Build & Imagine’s potential and demonstrated growth model (read: slow), going rate for acquisitions in traction with product development, a patent application, industry is 5x profits rather than 50x revenue. and retailer interest. One introduction from a friend led Bart Young, BS 74, MBA 76 The above conditions are all true for Build & Imagine. to my lead investors, who then opened up their network, Amy S. Cheng, MBA 04 I am a woman (a mom!) pursuing a profitable growth resulting in $600K in investments. business in the somewhat stagnant toy industry with a 8. Angel Groups. Organized angels invest collabora- Sami Abou Saab, MBA 12 physical product that is sold largely seasonally. And I’m tively to increase their deal flow. I applied to Berkeley gonna rock it! Angel Network, Pasadena Angels, Harvard Angels, and Bart, Amy, and Sami view volunteering Astia Angels, and got to the final forum stage with Golden for Berkeley-Haas as an investment that Not on the VC path. Now what? Seeds. I found that angel groups were not a good place I spoke with other toy entrepreneurs, reviewed the to go for seed-stage funding. If you have sizable revenue not only keeps Haas vibrant but also funding history of successful companies, and asked for they are a viable way to raise up to $2 million. enriches them with lifelong friendships, advice from investors. Six months later my conceptual If you leadership opportunities, and a strong, funding path evolved into the following: 9. Small Business Association (SBA) loans. are willing to guarantee loans or demonstrate that connected network. Opportunities exist Bootstrap > grants > crowdfunding > angels > angel you’re funding the majority of the project with your with your class, your region, current and groups > become profitable > line of credit > strategic own money, SBA loans through a community bank are investment > private equity > and, finally, acquisition. prospective students, the career a good option. Thanks to a successful Kickstarter campaign and centers, and much more. angel round, I am proud to say our first three magnetic 10. Strategic investments. Think about partnering building sets are now available on buildandimagine.com. with a company that is strategically aligned. A startup I worked for had a $3 million loan from a competitor/ 10 Alternatives to VC Funding partner in exchange for promoting their products. 1. Revenue. In addition to keeping the lights on, early Finally, what is appropriate for Build & Imagine may revenue can help with customer development by not be appropriate for your company. You need to get out providing feedback from real customers. of the building to construct a meaningful fundraising 2. Friends and family. I was pleasantly surprised that framework. Then be open to that framework evolving my personal network was interested when I began fund- along with your company’s progress. Go Beyond Yourself. Volunteer for Berkeley-Haas: raising. I was then confused to hear that since some of my investors weren’t accredited it was going to place a lot of A longer version of this article appeared on Fastcompany.com haas.berkeley.edu/alumni/volunteer

40 BerkeleyHaas