THE MAGAZINE OF THE HAAS SCHOOL OF BUSINESS AT THE UNIVERSITY OF CALIFORNIA, BERKELEY University of California, Berkeley Nonprofit Organization Haas School of Business U.S. Postage 545 Student Services #1900 Paid Berkeley, CA 94720-1900 University of California, Berkeley

BerkeleyHaasSummer 2018

HAAS HAPPENINGS @ CAL FRIDAY, OCTOBER 12 KICK-START YOUR HOMECOMING WEEKEND HOMECOMING • California Greenin’ with Prof. Emeritus David Vogel WEEKEND! • SkyDeck Open House at Berkeley’s accelerator

SATURDAY, OCTOBER 13 THERE’S SOMETHING FOR EVERYONE BEFORE THE CAL BEARS TAKE ON THE UCLA BRUINS • Parent Welcome Event for Haas undergrad families • How SkyDeck Will Create a Bright Future for UC Berkeley with Caroline Winnett, MBA 90 • Bringing Haas Leadership Communications to Health Care with Lecturer Mark Rittenberg • Bear Affair Tailgate BBQ under the Campanile • Cal vs. UCLA

How Berkeley Haas is accelerating blockchain’s potential

OCTOBER 12–14, 2018 | HOMECOMING.BERKELEY.EDU Redefine Interested in a custom program Summer 2018 for your company? EXECUTIVE EDITOR FEATURES AND DEPARTMENTS THE BLOCKCHAIN ISSUE the Future of Together with our Ute Frey UP FRONT esteemed faculty, MANAGING EDITOR

we’ll work with Amy Marcott Business DESIGN you to create Cuttriss & Hambleton, Berkeley Haas alumni enjoy 30% off programs that fit Berkeley any open-enrollment program in 2018 your organization’s STAFF WRITERS Laura Counts, Valerie Gilbert, Contact us for more details: [email protected] distinct needs. Kim Girard Housing risk, p. 8 For our full program list, visit executive.berkeley.edu CONTRIBUTING WRITERS 2 Haas List Michael Blanding, Ori Brafman, Cal football star Patrick Laird, Krysten Crawford, Nancy Davis BS 18, gets youths reading Kho, John Deever, Andrew Faught, Carol Ghiglieri, 6 Power of Ideas Kate Madden Yee, Don Moore, Campaign reform and Sam Zuckerman political attack ads 8 Power of Ideas PHOTOGRAPHY A warning about the Franklin Avery, Jim Block, mortgage industry Cal Athletics, Edward Caldwell, Kelley Cox (KLC Fotos), 10 Faculty Books Cris Gebhardt, Karl Nielsen, Thaveechai Phongpandech, IN THE BACK Piya Ray Chindaphorn, Dan Steinberg, Thor Swift

ILLUSTRATORS Lincoln Agnew, Joey Guidone, Dan Page PHOTO: JIM BLOCK PHOTO: For Berkeley Haas, the old adage is true: The more things change, the more they stay the same. Even BerkeleyHaas magazine is though the Defining Leadership Principles were codified just eight years ago, earmarks of our culture published by the Haas School have defined the essence of business education at Berkeley since our founding 120 years ago. of Business, University of Page 4 California, Berkeley. For Apple’s Isabel Ge Mahe, MBA 08 further information, contact:

16 Haas Network BerkeleyHaas Magazine Editor Alumni from Apple, Evergreen Haas School of Business Services Group, Nike, Slack, University of California, Berkeley Executive Decision-Making NEW | Online Offerings 3 Smooth Segues Opendoor, and Azure Power 2001 Addison St., Ste. 240 A letter from Interim Dean Laura D’Andrea Tyson. Global Berkeley, CA 94704 November 5–7, 2018 Multiple Programs | Fall 2018 20 Investing in Our Future [email protected] Empower yourself to make better decisions Apply the knowledge and skills you develop online in real time Gifts supporting Haas BerkeleyHaas Summer 2018, Join Professor Don Moore for this three-day executive The new Berkeley Executive Education online programs offer a 4 Happy 120th Birthday, undergrads and the Number 98. Sustainable Food Initiative program using real-life examples and business case studies. flexible schedule and exercises that relate directly to your career. Berkeley Haas! For change of address, email Gain the tools to make the most out of new opportunities. Join Berkeley Haas faculty from anywhere as they guide you 22 Worldwide Events [email protected] Learn how your intuition guides you and avoid the mind through live instructions in our leadership and product manage- Haas celebrates a milestone with a look at some defining moments. Dean Rich Lyons, BS 82, traps that can impair effective decision-making. ment programs. receives a top Berkeley honor Find special online-only content and submit alumni 24 Connections IDEAL FOR: Leaders who expect to be making decisions that IDEAL FOR: Those who seek a flexible schedule with direct ap- notes at haas.org/alumni-mag impact the success of their functions or organizations. plication of practical learning exercises and who want to grow their 12 A New Internet Startup WeTravel network among an elite cohort of professionals. How Berkeley Haas is accelerating blockchain’s potential. 26 Accolades 26 Alumni Notes 39 In Memoriam 40 Personal View Haas Lecturer Ori Brafman executive.berkeley.edu | CONTACT: +1.510.642.1304 Cover illustration by Dan Page on running toward fear Summer 2018 1 Up Front Up Front Haas List

Beyond Yourself INTERIM DEAN’S MESSAGE Cultivating Bookworms Haas Culture After a breakout to encourage kids in first season as a Cal Bears through sixth grades to running back, Patrick read. Laird visited 20 Smooth Segues Laird, BS 18, had a local schools to promote Carved newfound fan base. So he the program, which asks A Letter from Interim Dean decided to do something students to download Laura D’Andrea Tyson positive with it. Laird, a a journal and commit walk-on who last year to reading a certain in Stone An outstanding dean lays the groundwork for a seamless transition rushed for 1,127 yards and number of books. If to his or her successor. Our outstanding dean, Rich Lyons, has done eight touchdowns, created successful, they’ll score just that. He has assembled a committed and talented staff, and he has the Patrick Laird Sum- four free tickets to Cal’s identified clear strategic priorities for Berkeley Haas. With support mer Reading Challenge home opener. from his team, I will work as interim dean to advance these priori- ties until a new dean is appointed. I thank Rich for his steady vision and the dedication he has inspired in the members of the Berkeley Haas community. My main responsibilities over the next few months are to oversee the school’s day-to-day operations, to represent Haas at California Hall with Chancellor Carol T. Christ and Provost Paul Alivisatos, and to ensure a smooth transition to our next accomplished leader. I am PHOTO: CAL ATHLETICS CAL PHOTO: honored by the trust that my colleagues and the chancellor’s office have placed in me to carry out these tasks. The last time I served as dean at Berkeley Haas was some 20 Patrick Laird, BS 18, with first grader Patrick Sproul, a fan who years ago. Since then I have watched our school secure its reputa- sparked the idea for Laird’s summer reading program tion as one of the world’s top-ranked business schools, recognized as a force for values-driven leadership. The Defining Leadership Principles—Question the Status Quo, Confidence Without Attitude, EMBA Program Students Always, and Beyond Yourself—are now an intrinsic part of our school’s character. These principles are reflected in the school’s World Ranked commitment to educate future leaders to tackle “wicked” prob- The Berkeley MBA for Executives Program lems and make the world a better place. As faculty director of ranked #4 in the world, according to the Economist the Institute for Business & Social Impact, I have witnessed Which MBA? list. More specifically, Haas ranked this commitment in action every day. #1 in terms of the EMBA program helping alumni The chancellor’s office hopes to have a new dean named fulfill their goals, networking, and helpfulness of and in place sometime this fall. In the meantime, know that EMBA alumni. This is the first year our EMBA I will be doing my best to serve the school, guided by its program has participated in this ranking. Defining Leadership Principles and strategic priorities.

PHOTO: JIM BLOCK PHOTO: Sincerely, Rich Lyons, BS 82, on one of his final days as dean, standing before the Defining Leadership Principles Alumni etched into the faculty building Globe-Trotting Hero Our Defining Leadership Principles are now truly Phil Seo, MBA 11, just had the adventure embedded into the Berkeley Haas experience. In June, of his life. The North Vancouver native and his sister, Martina Seo, are one of Question the Status Quo, Confidence Without Attitude, 10 teams competing on The Amazing Laura D’Andrea Tyson Students Always, and Beyond Yourself were etched into the Race Canada: Heroes Edition, which began Interim Dean, Berkeley Haas airing in July. The siblings raced around the Bakar Faculty Building by Cronk Gate. The idea for the world completing challenges in hopes of display grew out of the culture champions committee and winning $250,000 and other signals the importance of our Defining Leadership prizes. Each team represents everyday heroes; Seo and his Principles to our community. But being carved in stone sister were selected for their doesn’t mean our culture is static, says Chief Strategy & volunteerism. Together, they’ve Operating Officer Courtney Chandler, MBA 96. “How we logged at least 10,000 hours of community service, much of view and act on our four Defining Leadership Principles it helping kids worldwide. will continue to evolve, and I am confident our distinctive Siblings Martina and culture will grow even stronger.” Phil Seo, MBA 11 PHOTO: KARL NIELSEN

2 BerkeleyHaas Summer 2018 3 Up Front Up Front Haas News

Question the Status Quo: Students Always: Founding Redefining Business Entrepreneurship Courses Education By the late 1960s, innovative Berkeley Of the 65,500 business school grads were creating companies that grads in 1949, only 6 percent smashed the staid models and caught took graduate degrees. Why? public interest like wildfire. The school Some business schools were lit- responded in 1970 by offering a course tle more than secretarial train- in Entrepreneurship and Business De- ing, while Berkeley’s undergrad velopment—one of the first such courses curriculum surpassed many grad- in the country at a time when peer insti- uate programs. But did our educa- tutions still emphasized preparation for tion best serve the business com- Fortune 500 company jobs. munity and the country? Berkeley’s entrepreneurship empha- Dean E.T. Grether, who be- sis was prescient as the California-born lieved that merely teaching case computer revolution would soon change studies failed to educate stu- the culture forever. Today, Haas is a vital dents in broader theoretical part of a campuswide entrepreneurial frameworks, traveled to Har- ecosystem that includes accelerator pro- vard and Carnegie Mellon to grams, mentoring, coursework, student evaluate their curricula. The in- competitions, seed funding, space, and tensely rigorous scholarly path networking opportunities. instituted at Berkeley meant challenging assumptions, not Beyond Yourself: just mastering skills. By the end Pioneering Social Impact of the 1950s, the business school’s grad students were asking the hardest Deans (shown, from left): In 1964, our school held “The Summit at Berkeley,” a questions in their field—a practice that won them E.T. Grether, Richard Holton, gathering of 30 economists and historians from various and Earl F. Cheit were among universities presenting ideas about the social and polit- respect from their university colleagues in the the great institution builders other social sciences. World-class research and a of our school. They paved ical environment of business. Future Dean Earl F. Cheit stimulating intellectual environment have been the way for the growth compiled presenters’ essays into a book, The Business a part of graduate business studies at Berkeley and evolution that define Establishment, and so ushered in the study of corporate Berkeley Haas today social responsibility and the social impact of business. Haas ever since. by adding the MBA and PhD programs (Grether), Soon after, Berkeley offered coursework in the field Confidence Without Attitude: launching one of the that addressed the larger context in which business country’s first courses in operated and became the model for other leading busi- PHOTO: EDWARD CALDWELL EDWARD PHOTO: Advising Government entrepreneurship (Holton), ness schools. and pioneering studies in Berkeley Haas has a long history of providing data- social impact (Cheit). Today, the summit’s legacy can be seen in the Insti- driven advice to state and national governments. tute for Business & Social Impact, a hub for Haas’ ef- Cora Jane Flood (pictured) It started in the 1930s, when Dean E.T. Grether lent forts—including centers and programs, courses, case questioned the status quo his expertise of markets and pricing structures competitions, conferences, speakers, and experiential when she gave the university’s Happy 120th Birthday, then-largest gift to establish amid the Great Depression’s wave of business regu- learning and leadership opportunities—to prepare stu- the “College of Commerce” lations and Dean Henry Francis Grady helped Pres- dents to become ethical, socially focused leaders intent (the precursor to Haas), giving ident Franklin D. Roosevelt develop the program on finding creative business solutions for the world’s Berkeley the second-oldest Berkeley Haas! of reciprocal trade agreements. Dean Richard most pressing problems. —John Deever business school in the U.S. Holton served as assistant secretary for economic and the only one founded It’s been 120 years since Cora Jane Flood made her bequest of securities and Read Sandra Epstein’s in-depth history of by a woman. affairs in the U.S. Department of Commerce in Berkeley Haas: haas.org/haas-history-book real estate that founded business education at the University of California in the ’60s. 1898. At the time it was the largest private gift to the university ever. “Jennie” In the ’80s and ’90s, Profs. Michael Katz, Jona- Flood’s establishment of the “College of Commerce” endowed professorships than Leonard, David Levine, Carl Shapiro, and James Wilcox all helped guide economic policy at the Berkeley 150 in economics, accounting, and insurance. That donation made our school the national level. Interim Dean Laura D’Andrea Tyson Celebrating 150 Years of Light second oldest business school in the United States—and the only one founded was the first woman to serve as top economic advi- by a woman. sor to a president when she led Bill Clinton’s The University of California began at Berkeley 150 years ago National Economic Council, among other posts. with a simple, but revolutionary idea: that college should be In the case of Berkeley Haas, the old adage is true: The more things change, Prof. Severin Borenstein and his colleagues available to everyone. Guided by the motto Fiat Lux—Let There the more they stay the same. Even though the Defining Leadership at the Energy Institute at Haas have positioned Be Light—UC Berkeley’s sesquicentennial celebrates the Principles were codified just eight years ago, earmarks of our culture have Haas as the go-to source for energy economics university’s duty to bring new knowledge to light, to illuminate solutions for bettering the human condition, and to be a bea- defined the essence of business education at Berkeley since our founding. research that affects California and the nation. And of course Prof. Emeritus Janet Yellen, with a con of opportunity for promising young minds and top faculty. Presented here, a handful of moments showcasing the longevity of Berkeley long history of public service, was most recently Find a timeline of key moments in Berkeley’s history at Haas’ distinctive character. head of the Federal Reserve from 2014 to 2018. 150.berkeley.edu

4 BerkeleyHaas Summer 2018 5 Up Front Up Front Power of Haas Ideas

POLITICAL ADVERTISING ASSOC. PROF. CLAYTON CRITCHER Age Matters policy body, the Federal against the committee Open Market Committee majority, and also one- Predicting the (FOMC), are “hawks” or third less likely to take a Fed’s leanings “doves”—that is, whether dovish stance. I Approve of This Attack Ad they emphasize keeping Perhaps most striking How a well-meaning campaign reform prices in check or foster- was that FOMC mem- ing economic growth bers’ personal experi- boosted nasty political ads and employment. ences with inflation have This contrasts with been a key determinant standard economic of Fed policy. Specifically, With primary season well underway, voters have likely heard a familiar analysis, which holds the interest rate targets refrain: “I’m Candidate X, and I approve this message.” Since 2002, that FOMC members’ in- set at FOMC meetings— federal law has required the tagline on all ads paid for by candidates flation expectations and the Fed’s most important for federal office. votes on policy reflect policy decisions—have The aim was to discourage negative campaigning. But research objective information on often strayed from levels published in the Journal of Marketing Research by Berkeley Haas how the economy is per- suggested by Fed staff Assoc. Prof. Clayton Critcher shows that it’s actually made attack ads forming. If that were the and tilted toward the more powerful. case, though, each FOMC subjective forecasts “People tend to be suspicious of political rhetoric—especially Prof. Ulrike Malmendier member would take the of FOMC members. negative political rhetoric,” says Critcher. “But we found that the same policy position, mandatory tagline has an unintended effect: It makes ads attacking Federal Reserve policy- since all of them have Interest rate an opponent’s policy positions seem more credible.” What’s more, makers are among the access to the same people have a more positive view of the candidate who gives the best informed and most information. “We’re targets—the tagline endorsement. knowledgeable experts trying to understand Fed’s most Past research has found that negative ads can be more effective on the economy, and their why these experts have important policy than positive ones, and attack ads have swelled in recent years, from decisions on interest very different views,” 29 percent in 2000, to 64 percent in 2012, and up to 92 percent the rates are supposed to Malmendier explains. decisions—have week before the 2016 presidential election, according to the paper. be based on exhaustive Malmendier and her often strayed Attacks on an opponent’s policies, unlike character attacks, are analysis of data. But co-authors implemented from levels clearly relevant to the job, but voters may be skeptical of whether Prof. Ulrike Malmendier a new model of expe- suggested by they’re true. Critcher and his co-researcher, Minah Jung of New York believes something else rience-based learning, University’s Stern School of Business, suspected the tagline might may also be at work: the which holds that Fed Fed staff and influence that. personal experiences policymakers forecast tilted toward They recruited 2,000 people and experimented with video, audio, with inflation that Fed inflation based on how subjective and print ads related to Congressional races from 2006 to 2010, as decision makers have had prices have behaved up well as fictional ads they created by combining snippets from real over their lifetimes. to the time of an FOMC forecasts. advertisements. In a working paper co- meeting. The researchers Although the tagline did not consistently change people’s reaction authored with Stefan Na- created an econometric Malmendier and her to positive ads or ad hominem attacks, the tagline did give a clear gel of the University of model that incorporates co-authors estimate that, lifetime inflation experi- throughout most of the boost to the policy-based attacks. In addition, people had a more Chicago and Zhen Yan of ence to forecast each 2000s, the Fed’s interest favorable view of candidates running negative ads when the tagline the University of Michi- FOMC member’s voting rate targets would have was included. gan, “The Making of Hawks and Doves,” Mal- behavior. They controlled been 0.5 to 1 percentage The tagline had an even stronger effect than partisanship. “It may mendier offers evidence for changing attitudes by point lower if policy had seem intuitive that Democrats and Republicans believe that Demo- that Fed policymakers’ age, political party affilia- been based exclusively on crats and Republicans, respectively, run truer ads. It is remarkable lifetime experiences tion, and academic back- staff forecasts. that mandatory endorsements can have effects that are at least as with rising prices help ground in economics. In other words, age large,” they wrote in their paper. shape their projections When the authors matters when choos- Also surprising was why the tagline works. “We initially thought of future inflation and compared their experi- ing Fed policymakers: the boost came from what sounded like an implicit promise of the influence their votes on ence-based forecasts with Experience of inflation ads’ truthfulness—with the candidate putting themselves and their monetary policy. members’ actual voting differs largely according credibility on the line by affirming that they ‘approved’ the message,” If they lived as adults behavior from March to birth year. Critcher says. But even when the researchers invented new taglines through periods of high 1951 to January 2014, “Our results add a and told participants that the law required candidates to deliver inflation, such as the they found that those twist to the practical them, they observed the same boost to ad credibility. “The bigger 1970s, they tend to be with more inflation expe- notion that the choice of effect was the perception that the ad had been touched by regula- much more leery of run- rience were more likely a policymaker can have tion. That gave a legitimating halo to the message as a whole.” away prices than if they to have hawkish voting a long-lasting impact on Critcher and Jung didn’t find a perfect solution to tagline bias, but came of age during later patterns. The effect policy outcomes,” the they did find that a more neutral tagline (e.g., “My name is X, and I am decades, when inflation was striking: An FOMC paper concludes. “To running for Y”) that can’t be confused for an implicit promise of truth was largely under control. member who had an predict a policymaker’s significantly decreased the unintended consequences. In short, lifetime inflation above-average experience leanings, it is helpful to “We hope that by bringing this to light, policymakers might realize experience is important with inflation was one- look at the person’s prior this provision is not serving the public good and find a better way,” in determining whether third more likely to take a lifetime experiences.” Critcher says. —Laura Counts members of the Fed’s hawkish stance that went —Sam Zuckerman ILLUSTRATION: LINCOLN AGNEW 6 BerkeleyHaas Summer 2018 7 Up Front Up Front Power of Haas Ideas

HOUSING FINANCE PROFS. NANCY WALLACE AND RICHARD STANTON Skip the Job they could improve the that they value in a work Interview correlation between colleague, including kind- interviews and work ness, conscientiousness, Housing Risk Prof. Don Moore on performance to 0.52— and wisdom. That’s true, improving the accuracy nearly as good but the evidence suggests The mortgage industry is still on shaky ground, of personnel selection as more costly tools like that these things are also warn Profs. Nancy Wallace and Richard Stanton job tryouts. hard to diagnose based Another key is to on an interview. More- determine which skills over, intelligence tests omit biases of current Despite tough banking rules enacted after last decade’s housing crash, and abilities are actually necessary to succeed on employees—conscious the mortgage market again faces the risk of a meltdown that could the job and then identify or unconscious—about endanger the U.S. economy, warn Professors Richard Stanton and hard-to-fake ways of gender, ethnicity, or age. Nancy Wallace in a paper co-authored by Federal Reserve economists. assessing them. Each Evidence suggests that The threat reflects a boom in nonbank mortgage companies, a category of interview question should it’s difficult for individu- independent lenders that are more lightly regulated and more finan- have a point and should als to completely set aside cially fragile than banks—and whose share of the U.S. mortgage market assess some work-rele- their cultural attitudes has ballooned. vant ability or behavior. As when assessing others’ “If these firms go out of business, the mortgage market shuts down, such, it should be easy for potential cultural fit in and that has dire implications for the overall health of the economy,” Prof. Don Moore interviewers to specify the organization. As a says Stanton. beforehand what a good result, hiring decisions During the housing bust, nonbank lenders failed in droves as home One of the clearest lessons answer might look like. perpetuate the current prices fell and borrowers stopped making payments, fueling a wider to emerge from decades Actual responses should demographic makeup of financial crisis. Yet when banks dramatically cut back home loans after of research on person- be scored against these the organization. the crisis, nonbank mortgage companies stepped back into the fray. nel selection is that the criteria. These scores Now, nonbanks account for half of all mortgages, up from 20 percent traditional face-to-face should then be averaged to One assessment in 2007. Their share of mortgages with explicit government backing job interview is terrible establish some numerical tool that’s less is even higher: nonbanks originate about 75 percent of loans guaran- for predicting future job assessment of interview teed by the Federal Housing Administration or the U.S. Department performance. performance. biased and more of Veterans Affairs. Authoritative reviews If you’re concerned accurate than Nonbank lenders are regulated by a patchwork of state and fed- of the research litera- that the scored questions interviews is eral agencies that lack the resources to adequately oversee them, ture put the correlation seem to omit an intuitive so risk can easily build unnoticed. While the Federal Reserve lends between face-to-face job holistic assessment of the an intelligence money to banks in a pinch, it does not do the same for independent interviews, as they are candidate, then you can test. It turns out mortgage companies. usually conducted, and consider adding one. This that intelligent Unlike banks, independent mortgage companies have little capital subsequent job perfor- can be averaged in with of their own and scant access to cash in an emergency. They rely on a mance, at around 0.4. the scores for the specific people perform type of short-term funding known as warehouse lines of credit, usually While that’s better than interview questions. better at provided by larger commercial and investments banks. Stanton and nothing, it leaves much to Another assessment their jobs. Wallace provide the first public tabulation of the scale of this lending. be desired. For example, tool that’s less biased and There was a $34 billion commitment on warehouse loans at the end weight and height have more accurate than When choosing a can- of 2016, up from $17 billion at the end of 2013. That translates to about about the same correla- interviews is an intelli- didate, don’t hold lengthy $1 trillion in short-term warehouse loans funded over the course of a tion. There are plenty of gence test. It turns out meetings discussing the year, they calculated. If the economy falters or if banks extending cred- tall people who weigh less that intelligent people merits of each. Simply it to mortgage lenders cut them off, many of these companies would than short people. perform better at their hire the one with the find themselves without recourse. So how can your jobs, whether they’re highest overall score. If the market collapses, taxpayers would potentially be on the hook company improve how it designing microchips or These recommenda- for losses posted by failed mortgage companies, primarily due to the selects people? First, if mopping floors. And there tions will likely improve mortgage-backed-security guarantees provided by Ginnie Mae and you are going to continue are intelligence tests that the predictive validity of the government-sponsored agencies Fannie Mae and Freddie Mac. using interviews, do not discriminate on the your company’s selection Mortgage companies are supposed to bear the losses if these securi- structure them. The same basis of language, culture, process and also reduce tized loans go bad. But if those companies go under, the government interviewers should ask or ethnicity. These tests, the time and effort you “will probably bear the majority of the increased credit and operation- all candidates the same such as Raven’s Progres- put into recruiting. al losses,” the paper says. Ginnie Mae is especially vulnerable—almost set of questions. Research sive Matrices, are simple A hiring process that is 60 percent of the dollar volume of the mortgages it guarantees comes shows that structuring to administer and both cheaper and more from nonbank lenders. Nonbanks— a category of interviews this way is the considerably less costly in effective at the same time? What’s more, vulnerable communities would be hit hardest. In independent lenders that are single most important time, effort, and organiza- That’s a contender worth 2016, nonbank lenders made 64 percent of the home loans extended more lightly regulated and thing organizations can do tional resources than are selecting. —Don Moore more financially fragile than to increase their predic- to Black and Latino borrowers and 58 percent of the mortgages face-to-face interviews. banks—now account for tive validity. Frank L. Many people worry— A fuller account of this to homeowners living in low- or moderate-income tracts, the paper research appeared in the half of all mortgages, up from Schmidt and J.E. Hunter’s justifiably—that intel- reports. —Sam Zuckerman 20 percent in 2007. Nov. 2017 issue of California definitive review of the ligence tests fail to take Management Review: research literature suggest into account many things haas.org/job-interviewing ILLUSTRATION: JOEY GUIDONE

8 BerkeleyHaas Summer 2018 9 Up Front Up Front

Hear Prof. Emeritus David Vogel discuss California’s environmental Faculty Books leadership at Homecoming, Oct. 12-14

change regulation—and has reprimand the 18-year-old, the boss controlling the also been the nation’s richest The Business of Catastrophe aviation tower lauded his quick action. state since 1971. “Deference to expertise over authority—paying It is, on balance, a Uncovering the organizational causes of disaster and attention to the person who knows what is going on— remarkable success story. the best practices of “highly reliable organizations” is one of the fundamentals of mindful organizing,” “There are gaps, but California Roberts says. proves you can combine Other features of “mindful organizing,” a environmental protection and framework further developed by Karl Weick and economic growth,” Vogel says. hen a high-profile disaster occurs— Kathy Sutcliffe and highlighted in the book, include An expert on international from the BP Deepwater Horizon a preoccupation with failure, a reluctance to simplify environmental regulation, spill to Pacific Gas & Electric’s San interpretations, sensitivity to operations, and a Vogel says he was surprised Bruno pipeline explosion—the commitment to resilience. when he delved deeply into public scrambles for answers Top predictors of reliability include open the reasons behind the state’s andW accountability. Often, among the teams of law communication and respectful interactions as well green streak. Environmental enforcement and government investigators, you’ll as a dedication to reliability at all levels—something wins are often cast as a triumph find organizational behavior expert Karlene Roberts, easier said than done in corporate America, where of citizens and regulators Berkeley Haas professor emeritus. efforts toward reliability happen in the context over business interests, but in That’s because about three decades ago, of escalating pressures for profits and speed, California, business support researchers at Berkeley pioneered a new way Ramanujam says. Citizenship behaviors, or the has been critical. to understand human-made disasters, looking willingness of people to go beyond the call of duty “Without business backing, beyond human error and technical glitches to the when the unexpected happens, are also critical. California regulatory laws organizational causes of catastrophes. Roberts was While Roberts and Ramanujam focus on complex would, without a doubt, be one of these trailblazers, helping to launch the new organizations susceptible to potentially catastrophic much weaker,” says Vogel, field by studying the practices that “highly reliable situations, other companies can benefit from organizations” (HRO) use to avoid disasters. Roberts the Solomon P. Lee Professor Karlene Roberts becoming more reliable. “Some of the practices Emeritus of Business Ethics. and others applied this lens to nuclear power plants, that HRO researchers brought to the surface “One of the things that was commercial aviation, utilities, the health care system, Organizing for are…good communication, good coordination, most striking to me was the and other industries. Reliability—A Guide for situational awareness, and responding to surprises,” importance of a politically “If you see a really good thing in an organization Research and Practice Ramanujam says. “You can see how those practices divided business community, and how often some going on consistently, then you have to look Stanford Business Books could enhance not just outcomes like reliability Turning Green into Gold influential businesses found that they could benefit deep below the surface to see how that happens. but also outcomes such as innovation, speed, [and] by protecting the state’s environmental quality.” You need to look at the individual embedded in flexibility.” —Laura Counts the organization,” Roberts says. “You have to New book details how California has prospered by For example, steamship and railroad companies This article was published jointly with Vanderbilt served as powerful allies for Yosemite and the Sierra’s look into the culture, the decision-making, the embracing environmental regulations communication, the training.” University’s Owen Graduate School of Management. sequoias—which they recognized as valuable tourist Read the full Q&A at haas.org/reliability attractions. They pushed for Yosemite Valley and Roberts, chair of UC Berkeley’s Center for the Mariposa Grove to became the first federally Catastrophic Risk Management, and Vanderbilt’s alifornia was founded on the most protected wilderness in 1864, and later, to expand the Rangaraj Ramanujam, a leading scholar in the field environmentally destructive industry of size of the national parks in the Sierras. who specializes in health care systems, take stock its era—hydraulic gold mining—and its When smog threatened to obscure Los Angeles’ of the past 30 years of research in their new co- towering redwoods and rich oil fields growing glamour, it was the real estate community edited book, Organizing for Reliability—A Guide for soon attracted a stampede of profiteers. that helped fight for pollution controls beginning in Research and Practice (Stanford Business Books). CSo why was it, in the face of such powerful the 1940s. In 1964 California passed the world’s first economic incentives to plunder its natural emissions standards for motor vehicle pollutants, resources, that the state became the nation’s and in 1967, business interests helped the state win “Deference to expertise over environmental leader? out over the Detroit auto industry to enact emission That’s the question Prof. Emeritus David Vogel regulations that were stricter than the federal authority—paying attention set out to answer in his new book, California government’s (an exemption now threatened by the to the person who knows Greenin’: How the Golden State Became an Trump administration). Environmental Leader (Princeton University Press). Vogel also details the extent to which regulation has what is going on— is one of It’s the first comprehensive account of the forces benefited business, even opening up new industries. the fundamentals of mindful and feuds that shaped California’s longstanding David Vogel California is now the nation’s leader in solar energy and —Prof. Emeritus Karlene Roberts environmental leadership. California Greenin’: in electric vehicle adoption, and Silicon Valley venture organizing.” The book’s timing is apropos: The Trump How the Golden capitalists have invested billions in clean tech. administration is rolling back environmental State Became an Vogel, who has made the state home since 1973, regulations on the grounds that they’re a burden on Environmental Leader says the research was a personal eye-opener. In the Roberts recalls one of the incidents she witnessed early in her career, aboard a Navy nuclear aircraft business. Yet Vogel points out that California has long Princeton University Press face of planet-changing environmental threats, he been on the front edge of environmental regulation— says California is more important than ever as a carrier, that piqued her interest in cultures of high protecting coasts and forests, restricting oil drilling, model for how states can lead the way on protecting reliability. She watched as the lowest-ranked sailor and enacting the country’s most ambitious climate their natural resources. —Laura Counts on deck waved off a jet landing with seconds to spare because he noticed a tool in the way. Rather than

10 BerkeleyHaas Summer 2018 11 WHAT IS BLOCKCHAIN? Blockchain is essentially a database designed to be transparent and secure. It can store many types of records, including cryptocurrency (like bitcoin), assets, contracts, data, identity, and more. It’s also a distributed ledger. There is no central storage repository; rather, records are kept in widely scattered networks of devices that all A NEW instantly register changes to the database. says. “Not only will it create new services and mar- engaging a part-time faculty director and a program ketplaces, but it also has the potential to create manager to oversee it. new kinds of human and user experiences.” (See sidebar, p. 15.) BLOCKCHAIN DEMYSTIFIED Now Lee has another mission—to make UC For all of the talk about blockchain, there’s still a INTERNET Berkeley, and Haas in particular, a world-class lot of confusion as to what it actually is. Blockchain center for research and teaching on blockchain, technology is an electronic record-keeping system How Berkeley Haas is accelerating cryptocurrency, and related distributed-web tech- Ian Lee, MBA 10, was first used to track exchanges of bitcoin and other nologies. Lee was the catalyst behind a wildly suc- the catalyst for a wildly digital money. Much of the buzz surrounding blockchain’s potential cessful interdisciplinary blockchain class this successful interdisciplinary blockchain reflects the fact that bitcoin—once the spring, and he regularly returns to Haas to teach blockchain class at province of a handful of cultists—became one of the and lecture. “Blockchain fits at the unique inter- Berkeley and presented fastest-appreciating assets in investment history, section of business, law, technology, and engineer- on blockchain to Haas rocketing in value from 30 cents in 2011 to a high ing, and no business school is better positioned to students as part of the of almost $20,000 last December before slipping to explore all of these interconnections than Haas and Dean’s Speaker Series. some $8,000 later this past July. BY SAM ZUCKERMAN UC Berkeley,” he says. But excitement also runs wild because blockchain The business school is taking a big leap to real- represents a radical departure from conventional ize this vision through the University Blockchain database technology, which many see as eventually Research Initiative, a program funded by Ripple, replacing much of the web as we now know it. Most a fast-growing San Francisco company that uses systems now store records of anything from bank ou might call Ian Lee, MBA 10, a block- blockchain to move money globally. Haas is one of 17 transactions to video clips on computer servers in chain innovator. As a management con- academic institutions on five continents—and one faraway data centers. By contrast, blockchain is a sultant and venture capitalist in the of only two business schools—to win a multimillion distributed ledger with no centralized storage. Re- early part of the decade, Lee got im- dollar, five-year grant from Ripple to support faculty cords are kept in widely scattered networks of de- mersed in the then-arcane world of bit- and student research on blockchain, cryptocurren- vices. This means no central silo could be hacked, coin and blockchain, the revolutionary cy, and payment systems, as well as applied learning as it was in the Equifax and Target scandals. technology that underlies digital money. opportunities and events such as conferences, com- In a blockchain system, every change to the data- From 2014 to 2017, he led Citigroup’s blockchain and petitions, and guest speakers. base registers instantly throughout the grid, meaning cryptocurrencyY initiatives as part of its ventures divi- “Ripple chose to partner with us because of the everyone in the network can see everything as it’s re- sion, Citi Ventures. In 2015, he helped IDEO launch breadth and depth of activity that’s already corded. In addition, blockchain uses cryptography CoLab, the research and development arm of the global underway—both at Haas and through- to provide supposedly fail-safe identification product design firm, where he now works as an execu- out the Berkeley campus,” says Interim of every participant and every transaction. tive in residence and explores uses of blockchain that Dean Laura Tyson. “It comes at a per- In principle, these features mean no one are taking it far beyond its original cryptocurrency fect time, as students across campus can tamper with the data without get- milieu—everything from instant global money transfers are demanding even more classes, re- ting caught. “If you try to do anything, the to digital copyright management. search opportunities, and activities world can see you,” says Doug Galen, MBA It’s like 1999 all over again, when the world was related to blockchain.” 88, co-founder and CEO of RippleWorks, promised that the internet would deliver not only Haas’ new blockchain program a private foundation with ties to Ripple. convenient shopping and financial services, but also will be housed in the school’s Insti- To devotees, blockchain’s built-in wisdom, tolerance, and democracy. Lee and the grow- tute for Business & Social Impact decentralization distributes power ing ranks of blockchain enthusiasts are convinced this and work closely with the Berkeley more democratically than tradition- new technology will change the world. Master of Financial Engineering al technologies. What’s more, since “We characterize this as the beginning of the dis- Program. The grant was announced tributed web—a more decentralized internet,” Lee in June, and IBSI is in the process of PHOTO: JIM BLOCK

Summer 2018 13 blockchain links users directly to each other, power- ing at how digital payments can increase financial ful middlemen may not be needed—raising visions of inclusion in developing economies—where block- BLOCKCHAIN CHAMPIONS money transfers without PayPal or any proprietary chain technology may play an important role. Haas alumni influencing blockchain’s evolution platform, for example. In the MFE program, student teams are working Indeed, enthusiasm for blockchain is in part a reac- on blockchain technology projects with corporate tion to the failings of the internet—widespread false clients, including a strategy for trading cryptocur- information, hacking, privacy concerns, and the like. rencies. The program is scheduling Q&A sessions The idea of peer-to-peer digital currency, for example, with multiple alumni who have launched crypto CRYSTAL BALL BLOCKCHAIN FOR GOOD | DOUG GALEN, MBA 88 sprang from the financial crisis of 2008—a way to rei- startups, and a new seminar is planned for fall. Blockchain devotees believe distributed computing Doug Galen is making the catchphrase “blockchain for good” more magine the opaque financial system as a transparent Berkeley Executive Education, in partnership technology will change our world. But what does network where people control their own assets. with the Berkeley Center for Law and Business, of- than just rhetoric. As CEO of RippleWorks, a private foundation with that mean for daily life? The alumni featured in this Democratizing visions aside, some of the world’s fered a Blockchain Unlocked program in early ties to Ripple, he oversees programs that connect leading exper- biggest and most powerful institutions are staking article: Doug Galen, MBA 88; Devadutta Ghat, tise from the U.S. tech sector with social ventures for short-term, out positions in blockchain. Worldwide business EMBA 15; Ashley Lannquist, MBA 18; and Ian Lee, high-impact projects. He recently led a research initiative at Stanford spending on the technology will soar from $945 MBA 10, offered up some predictions. University on blockchain applications dedicated for social good as part of his fac- million in 2017 to $9.7 billion in 2021, according ulty role at the Graduate School of Business. “Thirty percent of foreign aid is lost to to the research firm International Data Corpora- “Not only will [blockchain] corruption or other forces,” Galen says. “Imagine if we had absolute transparency tion. For example, Microsoft is preparing to use and could ensure 100 percent of the money went to the intended people.” blockchain to track video game rights and royalties. create new services and Personal data And a consortium of automakers recently launched You would own your data. With the Mobility Open Blockchain Initiative, one of marketplaces, but it also has personal blockchain-based accounts, the largest industry-specific blockchain consortia you could choose to sell it for a profit, | the potential to create new GLOBAL BLOCKCHAIN VENTURES ASHLEY LANNQUIST, MBA 18 (representing more than 80 percent of global auto instead of companies profiting off of Ashley Lannquist became a blockchain player even before earning her manufacturing by volume), to develop applications kinds of human and user your information. Haas MBA. For a course sponsored by Blockchain at Berkeley, she ranging from peer-to-peer ridesharing to track- —IAN LEE, MBA 10 managed her own bitcoin investment portfolio. The profits paid her ing of auto parts through the supply chain. Ashley experiences.” Ashley Lannquist, MBA 18, MBA tuition. She later scored a consulting assignment with auto- Lannquist, MBA 18, co-founded the initiative as a co-founded the Mobility Vehicle sharing student and co-directs it. maker BMW that led to a key role organizing a consortium of automak- Open Blockchain Initiative Your car could be a money maker. With ers exploring uses of blockchain in that industry. Now, Lannquist is project lead for automakers, co-led the blockchain-based smart contracts, for blockchain and distributed ledger technology in the San Francisco office of the BERKELEY HAAS AND BLOCKCHAIN August. It was one of the first in-person executive Haas FinTech Club, and it could autonomously facilitate ride education blockchain programs in the world based World Economic Forum. She also presents at blockchain conferences worldwide. In the burgeoning world of blockchain and crypto- co-founded Berkeley sharing (for a fee) when not in use. “Blockchain isn’t always efficient or safe enough to be used for everything it’s been currency, many alumni have already established in a major university. Lannquist co-founded and ini- Executive Education’s advertised for,” she notes. “But industry by industry, we’ll see applications.” themselves as leaders—including Galen of Ripple- tiated the program and has lectured in it, alongside Blockchain Unlocked Works; Phillip Gillespie, MFE 10, who heads the students in the Blockchain at Berkeley organization. program—before she Voting Tokyo operations of international cryptocurrency All this is part of a wave washing over the wider even graduated. Your vote would count. Blockchain brokerage B2C2; and Devadutta Ghat, EMBA 15, who Berkeley community. More than 7,400 students could ensure accuracy and allow CASH FOR DIGITAL CURRENCY | PHILLIP GILLESPIE, MFE 10 is using blockchain technology to create a decentral- have signed up for Blockchain Fundamentals, an on- ized video distribution network. line version of a course developed by Blockchain at secure remote voting. A big challenge for blockchain-enabled cryptocurrency is turning Alumnus Lee approached faculty at Haas, the Berkeley students. Among Haas students, the Haas digital currency into conventional money. Phillip Gillespie moved from School of Law, and the College of Engineering in FinTech Club, with Lannquist serving as co-presi- managing foreign exchange trading for Goldman Sachs to running the 2016 with a novel idea: collaborate across disciplines dent for three terms, became a center of blockchain Entertainment Tokyo office of B2C2, a startup brokerage that provides cryptocurrency to launch blockchain programs. One result was this activity and innovation in financial technology. Lan- Your leisure time could change. It may liquidity for large financial clients. Gillespie sees his role as spring’s Blockchain, Cryptoeconomics, and the Fu- nquist brought in guest lecturers to educate fellow include cryptocurrency gaming and providing advanced finance expertise in a field dominated by techies. “We believe ture of Technology, Business, and Law. The pioneer- Haas students and started a blog (now with some crypto-collectibles, like the wildly cryptocurrency is not a fad,” he stresses. “It’s the formation of a new asset class.” ing interdisciplinary course, taught by Haas Lecturer 2,000 followers) in response to classmates seeking popular CryptoKitties, which allows Gregory La Blanc; Adam Sterling, MBA/JD 13, execu- to better understand blockchain. buying and selling of cartoon cats. tive director of the Berkeley Center for Law and Busi- There’s no denying that an element of fad and ness; and Professor Dawn Song and postdoc Raymond hype surrounds blockchain. Some say the changes DISTRIBUTED VIDEO | DEVADUTTA GHAT, EMBA 15 Cheng of the Department of Electrical Engineering it will bring will be as important—or more impor- Startup funding and Computer Sciences, was a runaway success. tant—than the web itself. So far, blockchain hasn’t Devadutta Ghat has built video systems for some of the tech world’s You could follow your money. Directly Faculty members, several of whom are on the cut- made the world a better place, but it has helped a largest companies and now is the CTO of VideoCoin Network, which investing in companies by buying ting edge of fintech research, are examining the vola- handful of people get very rich. is using blockchain and cryptocurrency to build a decentralized tokens that could be exchanged for tile cryptocurrency market, as well as blockchain “Is there a blockchain bubble? Probably,” says video streaming platform. VideoCoin lets content vendors tap into more generally, from a variety of disciplines. Finance Brett Green, an assistant finance professor. “We products, services, or stakes in the idle computer capacity around the world to store, process, and Prof. Christine Parlour is studying how changes have to think hard about what kinds of problems business would allow for transparently stream videos, lowering prices and fueling competition. Blockchain technology in payment systems may affect bank stability and blockchain can solve and what it might not be very seeing how your money is being used. keeps track of services rendered and transactions between content creators and the broader economy. In a new working paper she good at solving.” server providers. “Decentralized computing is the holy grail,” Ghat says. “We want to analyzed pricing and returns on 222 digital coins— We don’t know the answer to that ques- completely displace cloud computing centers.” which can now be incorporated into portfolios or tion yet. But one thing is certain—research traded like any other asset. She is also developing a and teaching at Haas and within the new FinTech Center, which will be a focal point for broader Berkeley community will play leading-edge research. Prof. Paul Gertler is look- an important part in solving that puzzle.

14 BerkeleyHaas Summer 2018 15 In the Back In the Back Your Haas Network

CONFIDENCE WITHOUT ATTITUDE Evergreen investment approach of for the sports footwear buying a company, and apparel juggernaut. Asset making quick improve- “When you have a strong Jeff Totten, BS 13 ments, and selling it for brand and the power to The Path of Most Isabel Ge Mahe, MBA 08, CEO, Evergreen Services profit, Evergreen seeks positively impact the oversees Apple’s business Group, San Francisco to build its businesses world, there is tremen- across mainland China, over 10 or more years, dous opportunity for a Resistance Hong Kong, and Taiwan— increasing their value higher purpose.” Alumna’s tenacity and talent impact a region that generates nearly 20 percent and impact. It has Nike, considered a Apple worldwide of revenues for the added five companies pioneer in corporate tech giant. to its group since its social responsibility, was Isabel Ge Mahe, MBA 08 inception and now has named one of the world’s VP and Managing Director of Greater China, Apple 250 employees. most innovative com- Shanghai He may be a young panies in 2017 by Fast CEO, but that doesn’t Company. A European Isabel Ge Mahe left Steve Jobs perplexed. For more than a year, mean Totten is any distribution center, for Apple had been trying to lure her from her position as VP of wireless less qualified to lead example, runs on renew- software engineering for Palm Inc. Nothing had worked—not even a a company. able energy. Gatchell Jeff Totten began feeding gift basket delivered upon the birth of her first child. Now, the Silicon “We are often limited initially explored the his entrepreneurial drive Valley legend had invited Ge Mahe into his home. more by what we are Beaverton, Ore.-based in high school, when Jobs listened as she described her intense loyalty to Palm, where allowed to do than by company during a gradu- he took photographs she had worked for six years and was integral to the struggling what we are capable of ate school internship, at sporting events and smartphone maker’s turnaround effort. His bewilderment turned to doing,” he says. “You can in which he helped Nike sold the pictures to determination. “He went into sales mode and, after about two hours, develop much faster as develop its first publicly parents. Rather than convinced me that if I wanted to make a bigger impact in the world, I a leader if you partner available social and envi- buying typical teenager had to come to Apple.” with people who give ronmental impact report. swag, he used his She joined in July 2008 as VP of wireless technologies, charged you responsibility early.” He returned to Nike earnings to buy stock in with developing the wireless capabilities of the new iPhone and —KMY after earning a master’s public companies. nearly every other Apple product. Based in Cupertino, she oversaw degree in public policy Now, at 27, Totten is engineers working on baseband and telephony software, Wi-Fi and Gold-Medal from UCLA, intent on founder and CEO of Bluetooth, and location and motion technologies, in addition to Apple positively impacting the Evergreen Services Insight Pay and CarPlay, and was instrumental in developing HomeKit. world via the corporate Group, a family of A year ago, Apple tapped Ge Mahe to fill the critical new position Chuck Gatchell, BS 99 sector. At Nike, Gatchell managed IT service VP/GM Olympics & of VP and managing director of Greater China, where she oversees leads a team that focuses providers backed by the Athletes, Nike 12,000 employees across mainland China, Hong Kong, and Taiwan—a on the Olympics and private equity fund Alpine Portland, Ore. region that generates nearly 20 percent of revenues. Paralympics across vari- Investors, at which he Based in Shanghai, Ge Mahe provides leadership and coordination ous functions, including began working right out across Apple’s China-based team. She’s also played a central role in product, marketing, of college. He eventually the integration of several regional features for the iPhone and iPad, merchandising, and advanced to the post of including Shanghainese dictation, SMS fraud protection, English on sales. His current vice president, and is 10-key Pinyin keyboards, and the ability for consumers to rely on a priority: Tokyo 2020. grateful Alpine took a phone number as their Apple ID. Being socially respon- chance on him. The tenacity that caught Jobs’ attention has been evident since Ge sible isn’t just a Nike “As soon as I got to Mahe’s early life. Born in China, she moved to Vancouver at age 16 thing for Gatchell. The Berkeley I realized that if with her father, a former college professor who worked menial jobs first in his family to I wanted to be an investor, to make ends meet. She helped out—despite her father’s objections— graduate from col- I should start my career toiling nights and weekends at Church’s Chicken while finishing high lege, Gatchell in 2002 in an investing role,” he school. She learned English while working the register. co-founded Advance!, says. “That’s why I was so A Haas course about the Applying to Simon Fraser University, she chose engineering over a nonprofit dedicated happy to find Alpine—it social and political computer science because it was the more challenging and prestigious to increasing college was a company looking environment of business program. “I like to take the path of most resistance,” she says, “because awareness and access to recruit people out of as well as the Enron it’s easier to stand out.” After graduating with a master’s in electrical for young people in undergrad and to give and other corporate engineering in 2000, Ge Mahe worked for two years for AirPrime, a his hometown of La them opportunities to do scandals in the early wireless products company purchased by Sierra Wireless, before Habra, Calif. things one might expect 2000s motivated Chuck joining Handspring, which was folded into Palm in 2003. It’s this Beyond Your- to do only after getting Gatchell to set a lofty Ge Mahe came to Haas in 2005 to expand her business knowledge. self approach, nurtured an MBA.” goal for his career. In addition to the bonds she formed with fellow evening and weekend at Haas, that continues Totten’s vision for “I came to Nike to MBA students, she credits Haas for giving her a deep appreciation for to fuel Gatchell, a former Evergreen, launched in change the world,” says teamwork and the ability to work with diverse groups. athlete for Cal’s cross- 2017, is based on Gatchell, vice president “My guiding principle has always been to be the best, and I country and track teams. long-range thinking. and general manager of challenge my team to go beyond what is possible and never to settle He’s run with it ever Rather than a typical Olympics and athletes for second place,” says Ge Mahe. —Krysten Crawford since. —AF PHOTO COURTESY OF APPLE 16 BerkeleyHaas Summer 2018 17 In the Back In the Back Your Haas Network

High-Frequency foreign exchange trading But that major, she says, QUESTION THE STATUS QUO desk, where he designed was the perfect training Intuition high-speed systems to ground. comb through market The transition to tech data faster than rivals, happened naturally Inderpreet Wadhwa, MBA 02, Letting There Be Light giving Citi an edge. “You enough. In her last year of developed India’s first private can’t find too many college, Silicon Valley was utility-scale solar project in Entrepreneur provides India’s first 2009. His company, Azure compensation consul- becoming the place to be. Power Global, now produces private utility-scale solar power tants who ended up “I knew something was 1,000 megawatts of solar being high-frequency bubbling there,” McGee energy, with another thousand Inderpreet Wadhwa, MBA 02 traders,” he says. says, “and I wanted to be moving into production. One Founder and CEO, Azure Power Global At Haas, Guo displayed part of it.” She didn’t know megawatt produces enough New Delhi extraordinary intuition much about tech, but it energy to power thirty villages. about financial markets was a culture she was Even a short conversation with Inderpreet Wadhwa leaves no doubt Yang Guo, MFE 12 and a disciplined way of eager to explore. that he possesses the curiosity, intellect, and drive of a born entre- Data Science Manager, thinking about risk, Her anthropologist’s af- preneur. Especially interested in social impact, Wadhwa in 2008 Opendoor talents that helped his finity for storytelling found founded Azure Power, an Indian solar company that seeks to be the San Francisco team develop a sovereign a home in global commu- lowest-cost power producer in the world. credit risk model that nications. “I love figuring Wadhwa, who grew up in Punjab, always dreamed of studying Yang Guo sits at one of bested 26 competitors to out the interesting stories in America and working in Silicon Valley. After earning an under- the hottest corners of the win the 2012 Interna- within a company that graduate degree in electronics and communications engineering in business world, where tional Association of need to be told,” she says. 1994 in India, Wadhwa got his chance. He landed a product manage- advanced quantitative Financial Engineers She’s done that at some ment job with Oracle and, later, a spot in the Evening & Weekend finance meets big data. student competition. big-name companies, Berkeley MBA Program. He runs the pricing data Grateful for his MFE including BEA Systems, In 2005, Wadhwa moved to CRM provider Loyalty Lab, in part to science team at Open- experience, Guo returns Uber, and Cisco, where flex his entrepreneurial muscles. “I knew if I wanted to start my own door, a San Francisco each year to Haas to she worked in both ex- business and find investors, I’d need to show a track record of prod- company that seeks to guest lecture in Prof. ecutive communications uct development in a more capital-constrained environment than revolutionize home Terrence Hendershott’s and global marketing. Oracle,” he says. “It was a real-world application of my Haas lessons.” buying and selling. high-frequency finance While at Cisco, she en- A few years later, Wadhwa traveled back to India to assist in a Instead of using real class, showing students rolled at Haas, seeking a family member’s complex real estate litigation. At one point during estate brokers, home- how their studies apply in deeper understanding of that protracted stay, Wadhwa found himself seated next to a govern- owners sell directly to the real world of high- business fundamentals. ment official, when the talk turned to renewable energy. Opendoor, which in turn speed trading. —SZ She says the Berkeley- “I had some academic knowledge of the topic, and it was enough markets its inventory Columbia Executive MBA to make me the expert in the room,” he says. The official invited him online. Guo has the Tech Program allowed her to to make a presentation to other government officials. “At the end critical job of figuring out grow while staying in a job of it, they asked if I was going to build a solar company or go back what price to pay for Anthropologist she loved. “I had the op- to America.” houses, an especially portunity to go to school Throughout his early career, Wadhwa would often meet with important problem on Friday, come back to fellow Indian expats in Silicon Valley to discuss what their contribu- because Opendoor, unlike work on Monday, and put tions to their home country could be. “They were just dinner party traditional brokers, my experience to use.” conversations [though],” says Wadhwa. But given the opportunity to takes on all the risks McGee is head of improve life in India, Wadhwa chose to return. of ownership. global communications “I thought, ‘Someone’s going to do it. Why not me?’” says Wadhwa, Guo credits Berkeley at Slack, the collabora- who credits the rigorous analytical skills honed by his Haas experi- Haas for giving him the tion hub used by every- ence as key to tackling the formidable challenge. Since developing tools to work on the one from large tech and India’s first private utility-scale solar project in 2009, Azure proj- cutting edge of finance— media companies to dairy ects now produce 1,000 megawatts of solar energy, with another for example, the dynamic farmers and dentists. thousand moving into production. One megawatt produces enough relationship between Karesha McGee, McGee values Slack’s energy to power thirty villages. pricing and risk and how BCEMBA 12/13 international reach and What’s more, the social impact of Azure is immense. to apply those insights to Head of Global Corporate the opportunity to explore “We need land for our projects, so we develop partnerships with massive amounts of data. Communications, Slack how technology is chang- local landowners. That means they’re earning income on wasteland “For me, Haas was San Francisco ing the way people that was otherwise non-income producing,” says Wadhwa, who also responsible for a stark work around the world. hires locals to operate the projects. Those stable, well-paying jobs career change,” Guo says. As an undergraduate ma- “What is the story that mean more money is available for spending on health and education Before enrolling, he was a joring in cultural anthro- resonates with a cus- in small communities near the solar projects, not to mention cheap, compensation consultant pology, Karesha McGee tomer in Munich versus clean power for villages that may never have had it before. with no finance experi- couldn’t have predicted a customer in Mumbai?” What’s the secret to Wadhwa’s success? “You have to believe ence. After graduating, that her studies would she says. It’s a question in your analysis and build out from there,” he says. “You need a he became a trader on lead to a communications that delights the anthro- plan—and make sure you have plans B, C, D, and E ready as well.” Citigroup’s high-frequency career in the tech industry. pologist in her. —CG —Nancy Davis Kho PHOTO COURTESY OF AZURE POWER GLOBAL 18 BerkeleyHaas Summer 2018 19 In the Back In the Back Investing in Our Future

Beyond Yourself UPCOMING EVENTS Sustaining the Sustainable haas.berkeley.edu/events Oakland A’s Game Giving with Gusto Carl Jacobs, BS 65, is Food Initiative August 17 adding $1 million to Alumnus’ gift allows Haas undergrads to reap the Carl D. Jacobs Schol- Gift from food-industry veteran aims to tackle global challenge Oakland educational opportunities arship to support even more Haas undergrads Nordic-U.S. Mixer Though the world produces from California. at Copenhagen At 74, Carl Jacobs, BS 65, is pondering his legacy. An HR management more than enough food to Business School and strategic planning consultant for 35 years, Jacobs has worked with feed everyone, the United August 21 Nations Food and Agriculture organizations nationwide, providing analyses that have led to effective Copenhagen strategy and development of performance-based incentive plans. He’s Organization estimates that also authored and contributed to numerous scholarly books and papers some 815 million people— Summer Welcome and lectured on workplace issues. 10.7 percent of the global Party Jacobs, of Woodland Hills, Calif., strongly supports public education, population—went hungry August 23 having given over $300,000 to UC Berkeley and having created the Carl in 2016. One in three people Berkeley D. Jacobs Scholarship, which supports Haas undergraduates from suffered from malnutrition. California. He’s adding $1 million to the fund, mostly through an estate And the world needs to pro- Summer Picnic & gift, extending his philanthropic reach. He’s also committing himself duce at least 50 percent more Welcome Party to science education (“so people will learn to take care of our planet”) and food to feed the extra two The world needs to September 9 music education (Jacobs started singing with the Berkeley Glee Club billion people projected to inhabit Mountain View and earned a master’s in Jewish cantorial music two years ago), to Earth in 2050. produce at least enhance quality of life. He recently spoke with BerkeleyHaas about his Enter the Sustainable Food Initiative 50 percent more food to Food & work and philanthropy. (SFI) at the Berkeley Haas Center for feed the extra two billion Wine Tasting Responsible Business (CRB). The SFI is September 22 the hub for sustainable food entrepre- people projected to Why do you give to Haas? Napa neurship, innovation, and responsible inhabit Earth in 2050. Jacobs: I began giving to the school when we started the Los Angeles leadership at Haas and engages cross- Homecoming Haas Alumni Chapter in 1986. As state support of UC declined, campus with the Berkeley Food Institute. the Berkeley Haas Sustainable Food October 12–14 I became interested in supporting the school. In my era, the big Recently, the SFI received a boost Initiative Fund, a discretionary fund for Berkeley costs were room, board, and books. Tuition was minimal. I started from Jonathan Sebastiani, BCEMBA 11, management and operation of the SFI. the scholarship in the ’90s to enable California students to attend a wine-industry veteran who reinvented For Sebastiani, currently head of Haas Gala Berkeley or to graduate with less debt. himself at Haas with high-end jerky—a Sonoma Brands, a consumer products November 2 San Francisco Where did you learn the value of philanthropy? staple that athletic Sebastiani relied on incubator and venture fund that for his training diet and felt was unfairly innovates and invests in category- Jacobs: Giving back was inculcated in me before I was 10. My dad was Old Blues Reunion dismissed as “gas station food.” disrupting brands, the decision to always philanthropic, an aerospace engineer heavily involved with the His gourmet jerky concept, refined invest in the SFI was an obvious one. & Luncheon California Science Center as a docent and volunteer exhibit builder. At and polished in what Sebastiani “Ten percent of our GDP is food, and December 6 his death, gifts went to six University scholarship funds including mine. describes as the “supportive, collab- the industry employs hundreds of Berkeley I, in turn, made a gift to the Science Center in loving memory of him. orative, and safe” Haas environment, millions of people,” he says. “I’m in Berkeley Haas How did Haas prepare you for your career? eventually became Krave Jerky, which the trenches of corporate America, he sold to the Hershey Company in at the table with CEOs of big food Celebration in Jacobs: I look to the Defining Leadership Principles, especially Silicon Valley Question the Status Quo and Confidence Without Attitude. In my first 2015 for a reported $240 million. companies. They’re all wrestling with “There was a moment in my life the sustainability question.” February 6, 2019 job, the CEO had a pet project he thought would motivate employees. Atherton Though new in the personnel department, I politely cited motivation that Haas played a big role, and I’m CRB Executive Director Robert theory I learned at Haas and indicated the project would not motivate forever indebted,” says Sebastiani. His Strand says, “Sustainability means MBA Reunion people. It went up the chain of command, and they appreciated that I appreciation of and commitment to meeting the needs of the present Haas manifested in a gift to the SFI without compromising the ability of Weekend was knowledgeable and passionate enough to say it. Since then, I’ve April 26–28, 2019 that will enable the center to expand future generations to meet their own been able to tell prospective clients or employers that if they want Berkeley someone to tell them what they want to hear—not need to hear— its programs. needs. We have grand ambitions, and they have the wrong guy. Through classes like Edible Education, Sebastiani’s gift further enables Alumni the Food@Haas Speaker Series, us to expand on what we’re doing Conference development of case studies on food already, like doubling down on What advice would you give to Haas graduates? April 27, 2019 sustainability, and career connections the Edible Education course and Jacobs: An old commercial said, ‘grab for all the gusto.’ I’ve always Berkeley done that. Grab everything you can at Haas and after you finish. with food companies, the SFI educates democratizing access.” Be open-minded to opportunities, maintain your integrity at all the next generation of business leaders For his part, Sebastiani is looking times, and give back to the school that helped you get there. Also, tackling the global food challenge. forward to contributing hands-on Sebastiani’s bequest is split into expertise. “All of the lessons and tools you have one mouth and two ears. You should listen more than you Remain a Student Always talk. Finally, make somebody’s day—catch them doing something two parts: the Jonathan Sebastiani I learned at Berkeley I use in my work at online through videos of right. I learned that early in my career, and it led to my success. Food Venture Fund supporting Sonoma Brands,” he says. “I’m honored Berkeley Haas faculty and entrepreneurial students who are to have been asked to be part of this speakers at insights. —Interview with Andrew Faught launching food-related businesses and initiative.” —Nancy Davis Kho haasalumni.org. PHOTO: DAN STEINBERG/AP IMAGES FOR BERKELEY HAAS 20 BerkeleyHaas Summer 2018 21 In the Back In the Back

Haas Worldwide Events Connect with alumni in your local area: haas.berkeley.edu/chapters

Annual Alumni Conference SF Chapter’s Dog Shelter Volunteer Day 1 Kallista Stephenson, MBA 17; Daniela Trulls; Victoria Chen, BS 13 Volunteer Leadership Conference 2 New England leaders Marina Liang, BS 14, and Dan Parker, MBA 11 1 2 3 4 3 NYC leaders Pooja Sakesena, MFE 06; Alex Pederson, MBA 12; and Judy Chou, BS 96 4 Monica Wiese, MBA/MPH 05, and Richard Wilson, EMBA 15 Haas Celebration in Silicon Valley 5 Eduardo Buenviaje and Ricky Cornejo, EMBA 18s 6 Lori Benintendi, MBA 92; Julie Brown, MBA/MPH 85; and Neal Johnson, EMBA 18 5 6 7 8 7 Ace Patterson, MBA 16, and Rajat Gulati, MBA 16 Haas Celebration in SF 8 Julia Wyckoff, MBA 91 9 Mark Breitbard, MBA 97; Dean Rich Lyons, BS 82; and John Byrne Chou Hall Dedication 10 Kevin Chou, BS 02 11 Ned Spieker, BS 66, and UC President Janet Napolitano 9 10 11 12 12 Project Manager Walter Hallanan, BS 72 Dean’s Tour, London & NYC 13 Paul Callaghan, MBA 81; Ali Hasan Butt, MBA 09; Hannah Gandevia; and Dean Rich Lyons, BS 82 14 Kenny Vaughn, MBA 16, and Seneca Vaughn 15 Sunil Arora, BS 04; Bryon Crowder, MBA 99; 13 14 15 16 Jay Bharadwa, BS 04; and Margo Alexander, BS 68 MBA Reunions & Alumni Conference 16 Nick McFarland and Theresa Finn Talany, MBA 08s 17 Mei-Hsia Tan, Carlos Dieguez, PHOTO: JIM BLOCK PHOTO: and Anke Thiele, MBA 98s 18 Michelle Buckles, MBA 93 19 Bonnie Sherman, Julie Lee, Sherry Lin, and Michael Moving Tribute Sherman, MBA 03s 17 18 19 20 Haas’ legendary rock-star dean honored with top Berkeley award Dean’s Speaker Series 20 Ian Lee, MBA 10, executive In a surprise announcement at the Alumni Conference in April, Haas colleagues nominated the dean with letters that cited in residence, IDEO 21 Michael Mikel, founding Dean Rich Lyons, BS 82, was awarded the Berkeley Citation, among his caring support for staff, active team approach with students, board member, Burning Man the highest honors the campus bestows on an individual in our and legendary musical talents. The award citation noted Lyons’ Project community. Chancellor Carol Christ, who opened the conference work instilling a new kind of business school culture with a set 22 Mellody Hobson, president, Ariel Investments with a joint keynote with Lyons about culture and leadership styles, of core leadership principles and a larger sense of purpose. 23 Jonathan Haidt, prof., paused to bestow the award, given to Lyons for his distinguished True to his rock-star style, Lyons ended the keynote NYU Stern achievements and notable service to the university. The dean was with a rendition of Green Day’s “Time of Your Life” on his 24 John Riccitiello, BS 81, 21 22 23 24 chairman & CEO, Unity visibly moved by the honor, as 600+ alumni gave a standing ovation. acoustic guitar. Technologies

22 BerkeleyHaas Summer 2018 23 In the Back In the Back

Do you have a good Berkeley Haas connections story? Haas Alumni Notes Email it to [email protected]

CONNECTIONS The Power of One Another

When Johannes Koeppel and Zaky Prabowo, MBA 15s, tapped into the Berkeley Haas community, Tour de Force they struck gold—in the form of connections, advice, and financial backing. Group-tour startup WeTravel builds their company one Berkeley Haas connection at a time

Johannes Koeppel and Zaky Prabowo, Brett Wilson, MBA 07 Rob Chandra MBA 15s, want people to see the world. VP, Advertising, Adobe Haas Lecturer and Distinguished Teaching Fellow, Their startup, WeTravel, enables group Brett Wilson, who now sits on WeTravel’s General Partner, Avid Park Ventures travel by managing bookings, communica- board, mentored Koeppel and Prabowo Rob Chandra, who taught Prabowo in his entrepreneur- tions, and financial transactions for small when they were students in Berkeley’s ship class, has advised WeTravel since its inception and companies and individual hosts. Adequate LAUNCH accelerator program and was believes in the founders’ determination. “Johannes group payment mechanisms have stymied an early angel investor. “It was clear from and Zaky have an opportunity to build an interesting travel companies, and WeTravel aims to be the outset that these guys were smart, business because they are clear thinking, hard- the solution. Last year (its second full year), scrappy, and tenacious—intangibles working, and extremely scrappy,” he says. you need to be great entrepreneurs,” Chandra helps the pair understand the seasoned the startup booked $15 million in transac- Wilson says. investor perspective and advises on investor offers. tion revenue for customers. His guidance includes Says Koeppel, “Rob would say, ‘You need to negotiate But when it comes to building their professional and on this front here,’ or ‘This offer is actually good. I would company, they stick close to home. personal advice. “Brett just take it like this.’” Earlier this year, WeTravel raised always insists that we $2 million in seed funding, from sources take good care of each that included Berkeley-connected other,” says Prabowo. Eduardo Reyes, MBA 15 investors. Brett Wilson, MBA 07, “And he reminds us to Product Specialist, Facebook push each other, to be led the seed round and helped Eduardo Reyes, who hails from accountable to what we facilitate backing by the Guatemala, volunteered his promise one another.” Berkeley-only venture fund time in the early days of PHOTO: KARL NIELSEN The House Fund, allowing WeTravel. Reyes pitched WeTravel to add employees the product to students and expand internationally. nationwide and provided Both Koeppel, WeTravel’s connections to inves- CEO, and Prabowo, the tors and schools in Latin CMO, have numerous years America. “Haas has an of international travel and incredible culture of helping work experience (as does the and learning from one another third co-founder and CTO Garib that leads to communal success,” Reyes says. Mehdiyev). But perhaps their “The experience [with WeTravel] taught me most important attributes are, how to start a company, how to set an organi- quite simply, grit and passion— zational culture, and how to take a vision and qualities that have led many mem- Mariko Araya, MBA 18 build it from the ground up.” bers of the Berkeley Haas community Mariko Araya worked for Tokyo Disney to offer their time, connections, Resort before attending Haas and and advice in service of helping brought her knowledge of the Japanese WeTravel thrive. tourism industry to an internship with Champ Suthipongchai, MBA 15 WeTravel. “Zaky and Johannes were Managing Partner, Creative Ventures great listeners of what I wanted to achieve through working with them Classmate Champ Suthipongchai’s personal Johannes Koeppel and Zaky Prabowo, MBA and gave me the autonomy to go after angel investment was WeTravel’s first funding. 15s, co-founders of WeTravel. The pair worked new deals,” she says. Araya connected Suthipongchai, who bonded with Koeppel on gradua- at SkyDeck, UC Berkeley’s startup accelera- WeTravel with Japanese MBA students tion night, was struck by Koeppel’s authenticity and has since tor, when they were starting out and used and with one of the country’s top tour been impressed with the company’s flexibility. “They had a grand their Haas connections to slowly build their operators—connections worth millions and ambitious vision but are able to adapt themselves when business. Earlier this year, WeTravel raised in transactions. $2 million in seed funding from sources that they see opportunities to monetize,” he says. “That demon- included Berkeley-connected investors. strates clear thinking and being grounded in reality.” PHOTO: THOR SWIFT PHOTO: THAVEECHAI PHONGPANDECH

24 BerkeleyHaas Summer 2018 25 In the Back In the Back

Haas Alumni Notes Save the date: MBA Reunion Weekend, April 26–28, 2019

ALUMNI NEWS: ACCOLADES & ACCOMPLISHMENTS UNDERGRADUATE 1981 and “would like to work Valley high-tech market- tial mortgages all over making a difference in for someone else for a ing professional, Beth re- California, manages the the lives of its employees Hal Bogotch, Our Defining 1949 of Venice, Principles change!” Change was in alized in 2010 that she’d Windsor, Calif., office and protecting its plans. Beyond Good second season as Cal’s Students the air and Laura was rather talk about pita for Pinnacle Capital He writes, “Currently Edward Martins, of Calif., writes, Always director of the sport. “Recently forced to move, involun- chips than memory chips Mortgage. His fifth (and have two teenagers and This year, he led his Danville, Calif., and his tarily. Luckily, she found and started her food blog final) child graduated a third who is nearly a wife, Donna, recently celebrated my team to three victories first anniversary on the an affordable condo and OMG! Yummy. Since then, from high school. He teenager. Hopefully, one funded the Hayward was able to buy her own Beth has transformed her hears college is sort of of them will be looking and a No. 2 seed at the Museum to provide three job, as an adult literacy

FRANKLIN AVERY place. Although she still career by combining her expensive these days, to continue the Cal NCAA Raleigh Regional. years of free admission coordinator with the Los Angeles Public Library. I has a teen son in high marketing and culinary so feel free to reach out tradition. Celebrating to all. The museum has a school, she travels as skills to build her own to him for all your pur- 20 years of matrimony Setting a Precedent current exhibit on the match volunteer tutors with low-literate adult often as possible to see food brand and create chase or refi mortgage with my wife, Heather, local disruptions caused her adult daughters. content and marketing needs. “Cheers!” this summer. Still an by the detention of learners. It’s very rewarding work! I also Laura is happily single strategy for growing and active member at TBH, Japanese American but holds hope in finding established food and 1990 serving on the board of citizens during World organized two conversa- Back: Gregg Walti and Marie Jenise Gaskin, BS 80 tion classes for ESL a man with whom to food tech companies. Gary Hornbeek, of Palo directors, head of two War II. share her life. Beth is also a freelance committees, and teach- Walti, BS 97. Front: Kaily Walti, students.” Alto, Calif., is now vice Conner Walti rently leads the firm’s food writer, teaches cook- president of finance at ing on the weekends.” 1950 1985 ing classes, and co-leads Outsourced Accounting Quicken Inc. in Menlo Together with our two Ellen O’Connor, MBA 83 Practice. With her roles Mimi (Mary Renard) Doug Barry, of Tiburon, Tasting Jerusalem, a Park. He volunteers as 1997 Knox, of Walnut Creek, virtual cooking commu- kids (Kaily, 8, and Conner, North Bay Chapter Presi- on the firm’s board of di- Calif., reports, “I have treasurer of the Palo Alto Marie (Cavanaugh) Walti, 7) we invest our time rectors and management Calif., announces, “A good become a partner in a nity that explores Middle Little League. of Newport Beach, Calif., dent Ellen O’Connor, time was had by 120 Eastern cuisine and was and resources in empow- committee, she also new, all-inclusive, Cal announces, “I opened ering struggling families MBA 83, won the inau- classmates at the Grand Weekend Music Festival featured in the New York 1994 a family restaurant in gural Beyond Yourself helps ensure gender di- Finale Reunion of the Times food section. in Watts, Calif., and at the Lair of the Bear downtown Santa Ana, feeding the homeless Award at Berkeley Haas’ Dawn Belt, MBA 07 versity within the ranks. Class of 1950 on May 23. When not cooking, Lawrence Fox, Our Defining Gaskin says strong Camp in the Sierras. The of Richmond, Principles Calif., and am building in Santa Ana.” Volunteer Leadership Dawn Belt, MBA 07, Oski joined the group at writing, photographing, female mentorship and Sept. 7–Sept. 9 music Calif., is still Beyond a thriving e-commerce Conference this spring. was named one of the University Club at the festival is an awesome or strategizing, Beth Yourself skincare business. My leadership development Stadium singing ‘All Hail.’ going strong at In May, Richard Wong O’Connor was honored California’s top women way to reunite with your is an avid golfer, wan- husband and I celebrated programs are the keys to Thanks to everybody who nabe world traveler, and Kaiser Perman- became the first CFO of for her tireless efforts lawyers of 2018 by the fellow Haas grads and our 10-year wedding Houzz Inc., a platform for helping women advance made it such a special grocery store geek. You ente in human resources connecting North Bay Daily Journal. Belt, a discover some amaz- anniversary on May 10. home remodeling and in business. affair!” can find Beth talking alumni with each other partner in the corporate ing artists in a unique summer camp setting. about food on Instagram, and with students by group at Fenwick & 1961 Top Entrepreneur Kenneth Cera, BS 81 Tickets can be ordered Twitter, Pinterest, and designing a wide range of West in Mountain View, Edward Scholtz at bearmusicfest.com. her OMG! Yummy and events, including tours BERKELEY HAAS ALUMNI advises tech companies. See MBA 1963. Kenneth Cera, of Hope to see you there! Tasting Jerusalem Face- of the Marine Mammal Over the past two years, Brooklyn, N.Y., recently Go Bears!” book pages. Two recent NETWORK’S CHAPTER OF Center and a winery, a she’s helped represent 1964 attended the graduation highlights of her travel Congrats, L.A.! THE YEAR Big Game celebration, data storage provider of his daughter Michelle Bill Koefoed See MBA were an awe-inspiring Ken Nomiyama trip through Israel explor- student send-offs, parent Nimble Storage in its See MBA 1965. Cera, Class of 2018. 1994. receptions, and a hike. She $1.2 billion acquisition ing the region’s history, also assisted the dean’s 1984 food, and wine, and golf by Hewlett Packard 1974 at Bandon Dunes on the office with valuable re- Enterprise as well as Ned Leiba See MBA Laura Bertolli, of San southern Oregon coast search on brand strategy. handled financings for 1983. Rafael, Calif., after a with seven guys, most of Bill.com and BuzzFeed. 30-year career owning whom she met at Cal. Golf’s Esteemed In 2017, Belt was named 1978 and operating her small one of The Recorder’s business, Bertolli’s 1986 Club Kent Halkett, Our Defining Auto Body, sold the Women Leaders in Tech of Brentwood, Principles Gary Lentz, of Santa Jeremy Miller, BS 01 (right) business in August. She Law and recognized on Tenn., reports, Confidence Rosa, Calif., who is without is currently seeking new the Silicon Valley Busi- Jeremy Miller, BS 01, “In 2017, I Attitude business opportunities licensed to write residen- ness Journal’s Women of the founder and CEO became a mem- Influence list. ber of the Tennes- of FSAstore.com/ see Bar and joined the HSAstore.com, was Tennessee Alliance for Making the List named a 2018 New York Legal Services as an Jenise Gaskin, BS 80, Entrepreneur of the attorney providing advice Beth (Corman) Lee, BS 85, a partner at account- Year from EY (Ernst and guidance to seniors doing what she loves best: food THE LOS ANGELES ALUMNI CHAPTER generates economic and social ing and consulting firm & Young). Miller, who throughout all of marketing. value for local members of the Haas community. In FY17, this group of 16 alumni KELLEY COX, KLC FOTOS KLC COX, KELLEY BPM LLP, was named heads the largest online Tennessee and those one of 2018’s most marketplace for flex across the country with Beth (Corman) Our Defining volunteers hosted dozens of events, including wine tastings, volunteer days, family- Walter Chun, BS 01 Principles influential women in spending and health issues involving Tennes- Lee, of San focused gatherings, and lectures on aerospace, finance, social innovation, and more. see law or procedures.” Jose, Calif., is Confidence Walter Chun, BS 01, Bay Area business by the savings accounts, is now without They also introduced two new programs—one pairing alumni and students for coffee the kitchen- Attitude was named the men’s San Francisco Business eligible for the Entrepre- Linda Schermer, of table storyteller chats; awarded scholarships to local Haas undergrads; and established a b-school golf Pac-12 Coach of Times. Gaskin founded neur of the Year national Beverly Hills, Calif., is a you wish lived next happy hour with other local alumni groups. We salute you, Los Angeles Chapter! the Year by a vote of the BPM’s Pension Consult- program, announced in real estate broker and door. Formally a Silicon league’s coaches in his ing Practice and cur- November. attorney. Laura Bertolli, BS 84 Gary Lentz, BS 86

26 BerkeleyHaas Summer 2018 27 In the Back In the Back Alumni Slack Alumni Notes Workspace Haas Connect with Berkeley Haas alumni and Undergraduate or will@whelawfirm. In 2016, I launched an to-borrow community an internship in internal students in a variety of 2016 cont. com if I can help you with award-winning profes- gear lending library to get medicine and at Mount channels: #blockchain, Sadaf Safari, of San anything.” sional Indian dance com- even more folks out- Sinai Hospital for a resi- #energy, #tech, and more! Jose, Calif., celebrated pany, Chalo Let’s Dance side. We also host local dency in neurology. his one-year anniversary design. Wong joined (chaloletsdance.wix.com/ artists—currently we’re Join: working at Applied Houzz after nearly dance). The company showing photography by Laura Hertz, of Los haas.org/slack Materials. He writes, eight years at LinkedIn, performs Bollywood and fellow alumnus David Angeles, writes, “I am the “Each of my projects and where he served as the Bhangra dance monthly Chang in the store. Check CEO and co-founder of a activities at work company’s vice president for private and public us out and reach out if startup social enterprise reminds me what I of finance and played events. We recently I can help! At james@ called Gifts for Good learned at Cal and Haas. an instrumental part in partnered with the East lastmingear.com.” (giftsforgood.com), which After working less than building out and running Bay chapter of the Berke- I started after business a year at the corporation, leyHaas alumni network school at USC Marshall the financial planning als in business develop- I was listed as an to offer a unique meet- last year. Gifts for Good of Gifts for Good’s official and analysis, treasury, in- ment, operations, design, Employee of the Quarter, and-greet Bollywood is the first business e-commerce launch. It’s vestor relations, procure- Divyesh Patel, BS 08, with engineering, finance, and I truly owe it to my Jacqueline Rouse, BS 17 dance performance and gifting company focused been a busy year!” ment, and sales compen- 2-month-old Anaya Patel information security, Cal community. I have workshop in Berkeley. I solely on social impact. sations teams. He was marketing, product, used every career and in September, I’m feel blessed to be giving We curate and custom- 2014 also deeply involved in sales, and services. If recruiting opportunity to embarking on my eighth back to Berkeley Haas, as 2009 ize premium gifts for the company’s IPO, earn- you’re interested in visit the campus and give month at Gump’s in the company will be do- employees, clients, and ings announcements, and Nikhil Arora and Blend, please reach out back to the community, San Francisco on the nating its services while events by supporting the M&A activities. Alejandro Velez, Back to to [email protected] which makes me proud inventory planning team. Judy Huang, BS 01 I do what I love. Forever, work of more than 40 the Roots co-founders, to learn more!” of myself.” In another bold move I Go Bears!” nonprofits and cause- 2001 Judy Huang, of partnered with actress dyed my hair red! (It was Our Defining and celebrity cook based enterprises in 19 Will Edmonson, of West Berkeley, Calif., Principles 2015 2017 previously dark brown.) 2008 Ayesha Curry (who’s also states and 65 countries. Hollywood, Calif., writes, announces, Students I’m a firm believer in Be it for client holiday Isabella Brandes, “I continue to practice “After getting Always Divyesh Patel, of married to Warriors point being able to be myself gifts, custom apparel, of Cuenca, Ecuador, law, primarily handling my MBA in mar- Houston, took on a guard Steph Curry). In James Dong and David Chang, and in bringing my whole conference giveaways, announces, “After business litigation for keting from the commercial manager role addition to investing in both BS 10, at Dong’s Last self to work. For years, I or first-day-on-the-job finishing my Haas individuals and small University of Michigan for The Dow Chemical Back to the Roots, Curry Minute Gear store during the was fearful of making branded swag, we have undergraduate degree I businesses in Southern at Ann Arbor, I returned Company—and on hosted a gardening and opening reception of Chang’s this move because I was all corporate gifting joined the Peace Corps California. I offer big law to the Bay Area. Now, January 25 welcomed cooking workshop at the photography exhibit so into corporate needs covered. We are as a community health firm experience and tal- I work at UC Berkeley Anaya Patel into this Oakland Whole Foods America. But I did it, and I already working with sev- volunteer. Here in ent at affordable rates. performing marketing world. “We are very Market that was 2012 have no regrets—be- eral big-name brands— Clement Kao, BS 14 Cuenca, I have been able Please feel free to con- and operations for an excited to start this new broadcast on Amazon cause it looks great.” including Red Bull, Madi- to put my business tact me at 424-248-9581 energy research program. journey of our lives.” and Instagram. Arora and Velez delivered the son Square Garden, and Clement Kao, Our Defining background to use by Principles helping a new local Luke Walquist, undergraduate com- Lionsgate—to add social of San Our Defining Students nonprofit organization, of Long Beach, Principles mencement address in impact into their corpo- Francisco, Always Hogar de Esperanza, to N.Y., announc- Question the 1958 1963 1968 1973 1978 1983 1988 1993 1998 2003 2008 2013 May and were also rate gifting programs. My updates as Status Quo streamline its business es, “I landed a honored this spring with team members consist follows: “I dream job in a a “Marketers That of Jenise Steverding (the recently started working Jin Kim, BS 15 practices, thereby improving services for our health care Matter” award presented second member of TOMS as a product manager at company’s finance Undergraduate Alumni in Classes Ending in 8s and 3s Jin Kim, of San Fran- high-need HIV patients.” by the Sage Group and Blend, a fintech startup rotational program and cisco, who joined global the Wall Street Journal digitizing the consumer am moving from Costa health care giant Abbott Jacqueline Rouse, of for “creating an indoor lending ecosystem. Rica to Singapore in July. Laboratories after Fairfield, Calif., reports, gardening category We partner with banks After helping friends with graduation, writes, “I’ve “After taking a huge leap to help millions of new and lenders to power interviews, applications, families grow their frictionless, compliant, been leveraging what I of faith and leaving my Come role as a category and salary negotiations, learned in the classroom own food.” and more accessible I wanted to enable more Rachelle Kresch, BS 12 and still follow the four specialist at Walmart lending—starting with people to find opportuni- 2010 mortgages. We’re defining principles of eCommerce in San Bruno Rachelle Kresch, of San motivated by the fact Question the Status Quo, James Dong, of together Our Defining Francisco, graduated this that our product Confidence Without San Francisco, Principles May with her masters of positively impacts the Attitude, Students reports, “My Question the engineering from UC lives of people all over Always, and Beyond outdoor gear Status Quo OCTOBER 12–14 Berkeley. Rachelle America. Founded in Yourself. As a young shop, Last Min- completed her degree 2012 by a group of professional, having REUNION AND PARENTS WEEKEND ute Gear, has been while working full time at former Palantir engi- them as a personal growing steadily as one Laura Hertz, BS 13, CEO of AT HOMECOMING Ernst & Young where she neers, Blend raised mission is very impor- of the best places to get Gifts for Good started as an intern while $100M from Greylock tant, because you tend The campus you love welcomes you back with open arms— camping and backpack- attending Haas and is and Emergence Capital to lose sight of what you and a full slate of events to appeal to all of Cal’s diverse alumni ing gear, and skiing or Shoes’ global giving now an advanced in 2017. Blend’s people- are really aiming for in snowboarding clothes. In program) and Missy Hal- community. This is Berkeley’s 150th birthday—there’s no better analytics manager. centric culture focuses your life. So, I appreciate addition to retail sales of perin (Fox Broadcasting time to celebrate Cal community, connections, and culture. on impact, ownership, Haas for teaching me new gear, we also have a EVP of talent for nearly 2013 collaboration, humility, valuable skill sets as 24/7 smartphone self- 30 years). In September, drive, and transparency. well as giving me a service rental program Kapil Gururangan, of I married my high school homecoming.berkeley.edu Blend is currently hiring lifetime mission.” and just added a free- Stanford, Calif., matched sweetheart of over a at Kaiser Santa Clara for decade—within a month experienced profession- Luke Walquist, BS 17, and his sister in Costa Rica

28 BerkeleyHaas Summer 2018 29 In the Back In the Back

Brand Yourself Haas Alumni Notes as Haas Claim your @berkeley. edu account to keep your Undergraduate implications of my 1978 for the direct detection of paintings I created in my used to make touch- Haas-affiliated email organic as well as paid cont. birthplace, Tule Lake, gravitational radiation Berkeley studio in the screen sensors and address(es). search. Our experience is Calif., a site established using the National 1970s. I invite all to view other high-tech prod- that most SEO compa- by the U.S. government Science Foundation’s it in the museum’s current ucts—also has facilities nies provide lukewarm ties and advance their to incarcerate Japanese Laser Interferometer exhibition, Way Bay, in China and Korea; its Discover how: results. We have a careers. I built The Edge Americans during Gravitational Wave through September 2. markets are interna- haasalumni.org/ different approach and (getyouredge.net), an World War II.” Ken Observatory (LIGO). I I am currently working on tional.” email put together a team just online guide to help was interviewed about headed facility construc- a book, Radiant Circles, as we used to do at people stand out. his experiences by a tion when the two LIGO about these paintings, Haas. Everyone is the Through it, I’ve inter- local newspaper, The observatories were which were influenced by best in a particular role, viewed Alec Brownstein, Mercury of Newport, built—near Richland, Josef Albers and the and together we focus VP of creative at Dollar R.I.: read more at Wash., and Livingston, avant-garde filmmaker on one goal—online Shave Club, serial haas.org/2Kt0hHu. La.—and then headed Jordan Belson. In my domination for our entrepreneur Jack Smith, the LIGO Livingston paintings, interactions of channel planned for the recovered, restored their clients (inboundpassion. and more. Haas taught William Ziemba Observatory. I now colors give a hint of Amazon. It will require monuments, and a little com).” Phil Mitchell, MBA 84 me to think differently See PhD 1969. work at the National immaterial phenomena.” constant dredging, as the prosperity and a lot of and gave me an edge. Science Foundation sediment load is quite hospitality is the norm. To Christine (Cordi) Volker, MBA 78 big. It is expected to lower travel there, polish your marketing, business dev/ I want to share that 1973 and oversee the partnerships, and with others.” LIGO Program.” shipping transportation Russian skills.” Takejiro Hama, of Tokyo, Christine (Cordi) Volker, costs but will affect fish advanced technology Japan, has retired. of Richmond, Calif., breeding grounds. Fish is 1983 software development. writes, “I’m excited to Since, I’ve been enjoying the main protein source Ned Leiba, of Stockton, 1976 announce the release of for populations living working for startups. MBA my audiobook. Gabrielle Calif., a practicing Currently leading Vision Grant Wong, of Oakland, John Pollner, MBA 82 along the river. My advice: California CPA for over 40 Calif., writes, “Time flies; de Cuir, the award-win- visit the Amazon now as Science Labs, which just 1963 ning narrator, breathes years, successfully sued completed UC’s LAUNCH it’s now 10 years after my John Pollner, of ‘development’ and the California Board of Edward Scholtz, of life into the characters of Our Defining program (formerly the retirement from 43 years Washington, Principles big-scale destruction is Accountancy (CBA) when Redondo Beach, Calif., Venetian Blood: Murder Business Plan Competi- as an engineer (BSME 64) D.C., is lead Students altering it forever. it tried to impose is a labor arbitrator. in a Sensuous City, my Always tion), where we made the and working on many financial sector “Last year, I traveled to requirements for projects at Berkeley, international mystery Kyrgyzstan, Tajikistan, finals of the pitch 1965 published last year. In economist at retroactive duplicative competition. We are including Haas. I wrote the World Bank. Uzbekistan, and fingerprinting for CPAs. my first book, Band of addition, I’ll be flying to Kazakhstan, [home to] excited to be helping Bryan Bloom, MBA 85, founder Russell Austin, Texas, in July to Marcelo Trivelli, MBA 80 Besides recently working “As part of the proceed- those with impaired 3D , of Our Defining Brothers, Saga at the nomadic and ancient of Inbound Passion, LLC Kalmacoff Principles accept the Sarton with new EU members, ings,” he informs, “the vision, which affects 56 Calgary, Water’s Edge, in 2015 at urban peoples of the Silk Students Women’s Book Award in Marcelo Trivelli, of Eastern Europe, and Superior Court judge percent of the population. Canada, joined Always age 73, followed by Road, on the route of Contemporary Fiction. Santiago, Chile, writes, Russia, he is now on to found the position of the Enjoy living in Oakland. the advisory Stilwell, America’s Suzanne Perkins, MBA 80, with conquerors like Genghis Writing is a labor of love, “As president of Fun- Latin America developing CBA unreasonable, the For fun, playing tennis, board of The Experience in China Khan, Tamerlane, and but thrilling when you her painting “Phosphene,” dación Semilla, an NGO, credit enhancement CBA seemed to lack basic learning ukulele, and Clausen Center, where 1911–1945 Reexamined 48” x 48,” acrylic on canvas, I’m glad to share that we instruments for infra- Babur. Subdued by records expected of a in 2016, Zhuge Liang’s share your words.” Tsarist Russia after traveling to visit my macroeconomists and from 1972 developed and launched structure finance bonds regulatory agency, and its family, including my central bankers connect. Management Techniques WAYNA, a pedagogical in Argentina (within a revolution and civil war, actions were so prepos- in 2017, and my fourth 1980 Our Defining grandchildren (2 and 5), Created by Tom Clausen, Suzanne Principles tool for nonviolence new challenging they became Soviet terous that the court book, Easy Chinese in 10 Mark Coles, of McLean, Republics. With the whenever possible.” former president of the Perkins, of Students (better living together) environment, given twice questioned if that Lessons, to be finished Va., reports, “I was very Always collapse of the Soviet Bank of America and the Berkeley, Calif., based on a gaming Argentina’s recent agency was genuinely Martha (Garriga) World Bank, the Center later this year. Anyone pleased and proud to announces, methodology. We are currency devaluation and Union they were caught interested in protecting interested, please email travel to Stockholm last in economic depression Stoneburner, of Scott- pursues groundbreaking “The UC working with UNESCO its approach to the IMF). the public.” Read more in sdale, Ariz., manages research in monetary me at nblgylwo@gmail. December to participate Berkeley Art Museum to expand its use in He maintains his musical and social chaos. Now, an article published in com and I will email you in the celebration of the still under dictatorships, Stoneburner Associ- policy and was founded recently purchased educational systems hobbies and has his Accounting Today at haas. ates, a real estate broker by a joint endowment to any of my books at no 2017 Nobel Prize in Phosphene, an acrylic throughout Spanish- extended family all in the with the exception of org/2L1JqMW. “I urge my charge. Go Bears!” Physics won by Barry Kyrgyzstan, they have specializing in real estate Haas and Berkeley/ spray painting on speaking countries Washington, D.C., area, Cal classmates and financing since 1991. She Economics. It is led by Barish (also a Cal alum), canvas (48” x 48”), one and territories (www. and despite not being in colleagues, especially Mauri Schwartz, MBA 85 1977 Kip Thorne, and Rai Weiss is looking for colleagues Pierre-Olivier Gourin- in a series of spray fundacionsemilla.cl).” California, he is an avid CPAs, not to capitulate to to connect with in the chas, professor of Hidefumi Yamagami, avocado fan. bureaucratic and Phoenix Metro area. Mauri Schwartz, management and of Tokyo, Japan, took a 1982 regulatory irrationality,” of San Francis- Our Defining Principles economics at Berkeley. new position in April as a Tim Kingsbury, of Jose Serra-Vega, of Lima, adds Ned. “Fiat Lux.” 1985 co, continues lecturer of corporate and Peru, writes, “I had been to expand the Beyond Livermore, Calif., Bryan Bloom, of San Yourself Ken Nomiyama, of international finance at announces, “Excited to analyzing the environ- reach of her Newport, R.I., reports, the Institute of Business mental impact assess- 1984 35th Reunion Diego, Calif., updates as woman-owned have started a new April 26–28, 2019 follows: “After many “After graduating, I spent and Accounting, Kwansei Alumni Jobs position in April as VP of ment (EIA) of several career management 35 years on Wall Street Gakuin University, Nishi- hydroelectric projects in years doing search firm Career Insiders, Weekly Newsletter finance for C3Nano. I’ll be engine optimization working for JPMorgan nomiya, Japan, after a taking over finance, the Marañon river, one of Phil Mitchell, which offers recruitment, Chase, Citibank, and 14-year professorship at Find job listings, career the two rivers that form Our Defining (SEO) for my own outplacement, executive accounting, and other of Oakland, Principles companies I founded UBS in commercial and Kindai University. “I also tips, networking admin responsibilities the Amazon, but now Calif., writes, branding, and individual Students Inbound Passion, LLC. investment banking. start teaching at Koma- events, and webinars. from another Haas MBA, because of the much “Left IBM in Always job search coaching I retired in 2007 and zawa University near my lower cost of solar energy We serve clients across services to clients world- Customized for Paul Larose, MBA 74, 2010 after the U.S. and work to help moved with my wife to current home after mov- who retired in May. these projects will not be Jose Serra-Vega, MBA 82, with various roles, wide. She also thrives as Newport, R.I. I developed ing from Osaka to Tokyo undergrad and built in the short term. friend Ryskul Kyzart in a yurt, them grow their client VP, Berkeley Haas Alumni C3Nano—the leader including environmental base through online a late interest in learning in March. Now, I can stay grad degrees in transparent conductive So, I am working on the in the summer pasture of Song Network’s SF Chapter, management, product domination. That includes about the history and with my family here.” films, components EIA of a navigation Köl Lake, Kyrgyzstan where she and her co- Sign up: haas.org/ajn

30 BerkeleyHaas Summer 2018 31 In the Back In the Back

View a map of Berkeley Haas in Wine Country: Haas Alumni Notes haas.berkeley.edu/groups/alumni/byhaas/wines

MBA cont. network to be invigorat- challenge, and adventure the only pure patient- me as well. I remain the Bears: You want a better with several lifelong Haas landed a really interest- ing. They keep her on with amazing people and to-patient registry head of marketing and company and happier friends in attendance. ing medium-term project her toes! She adds, “We organizations. I just where patients and/or thought leadership for and better-performing She lived up to her Haas with the European trained, then cycled with returned from a week in their caregivers can the division that services employees? My company, pedigree with a sermon Investment Bank—one board members plan the Tour de France, in the Middle East where I’m search for others with asset managers —mu- HammerResults, offers a that analyzed the of the world’s largest, social, professional, 2015. Toured Greece in working with UC Berkeley their same diagnosis or tual funds, private equity, new and free Culture and repetition of a certain based in Luxembourg— and career events for 2017 and this year dived colleagues on programs who have followed hedge, etc. Fun times to Organizational Improve- phrase in the Torah and called Boost, which is Bay Area alumni. She’s in Palau—saw sharks to help drive positive treatment protocols be in this industry—tech- ment app, which brings concluded that it was part about access to finance especially focused on by the scores and manta change and economic being recommended to nological innovation is you to diagnostic results of G-d’s marketing plan. It for SMEs and PE/VC expanding the scope rays in the blue. Loved all diversification there. them. While there are really affecting us, and and actions within was clever, insightful, and funds in the Caribbean of the group’s outreach by of these incredible expe- Some new firsts for me: a other matching services it’s actually quite excit- minutes. It’s usable for very funny. We are so very region and Africa. As building collaborative rela- riences. Would do every sandstorm delay at the and caregiver networks ing to see nonfinancial any organization larger proud of her.” team leader, I have tionships with local alumni one again in a heartbeat.” airport and spit-roasted available, none provides firms making a differ- than 20 people, I’d say. interviewed about 90 from all the top business goat around a blazing fire patients the opportunity ence. No major news on Has tons of best practice funds, asset manage- schools, including those in the desert. Earlier this to send secure messages the personal front: My improvement content, ment firms and incuba- in Europe and elsewhere year I was in Southeast directly to those who are wife and I celebrated 27 too. Enter the free app tors in the region and outside the U.S. Asia for a series of talks willing to speak with years of marriage last via hammerresults.com, Richard Jones II, MBA 92, in second place identified a short list of to business and govern- them and share their year, our son is finish- try it out, and provide target investees. I am 1986 ment leaders. And some experiences.” Dan also ing his sophomore year feedback if you like. product line manage- palazzomora.org) as part writing a concept note ment. Would love to work Catherine Chiu, Our Defining great boards, including published Thriving at Cal (but out-of-state Cheers, Klaus.” of the European Cultural about how to create an Principles of Saratoga, one out of Finland. through Cancer, which fees unfortunately), and with a tech nonprofit Centre’s TIME-SPACE- enabling environment for Beyond “Teaching entrepre- chronicles his journey in we just got a cockapoo 1991 for kids in the Oakland EXISTENCE exhibition VC funds and business Calif., has left Yourself Opero Partners neurship keeps me sometimes excruciating who celebrates his first area. Anyone with leads, at the 2018 Venice angels in Jamaica, and restarted so engaged with our detail, providing the birthday in July.” please reach out. I’m Architettura Biennale, Dominican Republic, her previous consulting students, and also reader with lessons he still racing bicycles, May 26–November 25.” Trinidad and Tobago, practice, under Falcon with developments in learned while navigating which rewards me with and Haiti. I would enjoy technology, healthcare, the intersection of 1989 30th Reunion wine and keeps me off resuming contact with Associates. She pro- April 26–28, 2019 1994 25th Reunion vides strategic finance, cryptocurrency, and medical, personal, and the cholesterol drugs— Yves Speeckaert, MBA 94 Haas entrepreneurs, more. And it’s rewarding professional lives. “At the [email protected].” April 26–28, 2019 faculty, and other business model, and Mark Coopersmith, MBA 86 growth strategy advice to see our student teams end, it’s an uplifting book Yves Speeckaert leaders for advice on go on to launch success- about the power one has Eleni Kounalakis, former Bill Koefoed was recently announces, “After over how best to build to CEOs and growth- Mark Coopersmith is stage companies. Cathy ful ventures. to change the world, a U.S. ambassador to appointed CFO of Blue 20 years in consultancy capacity for VC funds celebrating 15 years since “Finally, Lori, BA 83 must-read for patients Hungary, is running for Nile, the Seattle-based (KPMG) and structured and incubators and how and her partners are he returned to Haas to actively engaged in M&A (sociology), and I are and caregivers alike, lieutenant governor of e-commerce jewelry finance (Banca Intesa) in to improve the relevant teach entrepreneurship. thrilled our daughter whether battling cancer or California. retailer recently taken Brazil and London, I am regulatory framework. advisory services, tuned Speaking, writing, serving for post-deal integration Alison is now a Golden any other chronic illness.” private by Bain Capital now managing director Alumni who have worked on boards, and executive Bear, studying microbial 1993 of Emergy Capital in VC industry segment, success. She continues Our Defining and Bow Street Capital. education programs now biology and global health 1988 Principles I am open to inputs (my her engagement with the take him around the Yasunori Nakagami, MBA 91 Leslie Smith, at Cal.” Ross Ellis, of Valley of Oakland, Beyond email is registered with Berkeley Angel Network world to spread insights Yourself (BAN) as co-president. In Forge, Pa., reports, “I am Yasunori Naka- Our Defining Calif., writes, Cal Alumni). on innovation and Principles operation since late 2011, going on 20 years at the gami, of Tokyo, “My art instal- “Also, I am happily entrepreneurship. And he Question the living with my Brazilian BAN has invested in over often includes topics suburban Philadelphia- Japan, reports, Status Quo lation Who Are We? 35 percent of companies based financial services “Surprisingly has been installed at wife, Clelia, and have from his book (co-written three wonderful children that have pitched to with John Danner), The firm SEI—in the com- enough, my new the Palazzo Mora (www. the group. She finds the pany’s 50th anniversary asset management who are all at university Other ‘F’ Word: How Linda Carlton, MBA 89, and (in the U.K., Holland, and vibrant startup scene, Smart Leaders, Teams, of its founding. Arguably company, Misaki Capital, impassioned entrepre- one of the first, if not the Scott Wynn became a Harvard Busi- Belgium). I continue and Entrepreneurs Put practicing piano jazz (I’ve neurs, and engaged and Failure to Work (Wiley, first, fintech company, it’s ness School case. I was intellectually curious doing quite well for itself, Linda Carlton, of Oak- invited to an HBS class recorded two CDs) and 2015). He reports, “I’m land, Calif., and Scott creative writing, mostly angel investors in her having so much fun, and it has been good to as a protagonist and gave Wynn were married in a speech last year. It was poetry and short novels.” Riverside Park, Manhat- tough to discuss, with tan, on July 25, 2017. They 90 students each, two 1996 will continue to split their classes for 30 minutes in Tamar Lowell, MBA 94 (far right), with Thomas Lowell and Mia Lowell Mark Beckford, Our Defining Dan Engel, MBA 86 time between Oakland, English, but was fun. I felt of Folsom, Principles Calif., where Linda’s Tamar (Zukerman) Markets, an advisory Question the honored to speak there— Calif., writes, Status Quo Targeted Dan Engel, of San Diego, recruiting business is lo- especially because I was Lowell is CEO of Access firm working on structur- “Still helping Networking announces, “I recently cated, and New York City, refused as an MBA can- Culinary Trips. Based in ing, funding, and tech companies launched PatientTrueTalk. where Scott’s photogra- didate 27 years ago!” Bainbridge Island, Wash., directing investment do business in China Use LinkedIn and the @cal com to solve one of the phy business is based. her award-winning funds in Luxembourg, while learning about cool pressing issues patients Linda was previously with oversight of nine Alumni Directory together 1992 Leslie Smith, MBA 93, stand- culinary tour company new innovations like and their caregivers face married to Douglas Lar- operates small-group, regulated funds so far. I ‘smart agriculture’ and to find the right alumni to Richard Jones, of Oak- ing with her art installation in the cancer world—a son, MBA 84, who passed experiential tours in 10 also do development farm automation via IoT help you get ahead. land, Calif., announces, “Who Are We?” as part of the means to connect to away in April 2001. countries. She adds, economics consulting for at a local startup called “I’ve been retired for two European Cultural Centre’s other patients, especially “Thomas Lowell, MBA 94, the likes of the World eze System. Very excited View search when considering 1990 years now after 18 years “TIME - SPACE - EXISTENCE” at Intel as a venture and I recently celebrated Bank and EuropeAid, about the growth and suggestions: and deliberating over Ross Ellis, MBA 88, and his exhibition at Palazzo Mora, the bat mitzvah of our mostly in Africa and development of the Klaus Hammer, of Swit- capitalist and in busi- 2018 Architettura Biennale, treatment options. son Duncan at the 2017 Cal vs zerland, writes, “Dear first child, Mia Victoria, Latin America. I recently Haas Alumni Network in haas.org/ PatientTrueTalk.com is Stanford football game ness development and Venice, Italy search-alums

32 BerkeleyHaas Summer 2018 33 In the Back In the Back

Find Your Tribe Haas Alumni Notes Over 30 active alumni chapters host events worldwide the MBA 98 alumni who the hands of the Fa- sponsor what will become came to Berkeley this milia Baldini, ensuring the for professional the first private equity April. We all loved to see Biordi legacy continues. development and fun. fund of funds for the each other.” The 72-year-old business, Spanish market. Last founded by Mr. Biordi Meet local alums: year, I moved here with Greg Greeley, the former in 1946 and purchased haas.org/chapters my family from Caracas, VP of Amazon Prime in 1977, has become a and we are now settled in and delivery experience, landmark in North Beach a wonderful neighbor- joined Airbnb as its presi- offering the finest of hood in this captivating dent of homes, one of the Italian handcrafted ma- city. Our 10-year-old company’s four business jolica ceramics. Michael twins are doing great at units. Greeley spent 18 and Deborah Baldini are their new school, and life years at Amazon. the next Italian genera- in general has been good, tion to take ownership in Bingen, Washington. as vice president of com- especially when you Srivats Srinivasan, of of this iconic San Fran- She rejoined Insitu from mercial operations and compare a modern, Eric Meyerson and Mahiro Clyde Hill, Wash., reports, cisco retailer.” Adidas in Germany where business development at vibrant, civilized city with Ochi, MBA 02s, among the “Excited to share that she served as senior MBLI and managing di- what has become of cherry blossoms in Tokyo in Bluewave (a visual story- vice president of global rector of the Diagnostics Caracas. I still travel March 2017 telling and design firm in operations, strategy, and Research Products between Spain and Oakland) is now part of and programs. Prior to Division at JSR. She has Venezuela, as I keep delight of drinking beer Nayamode! This is par- Adidas, she held a num- more than 25 years of many interests in my and sampling many types ticularly sweet because I ber of senior executive experience in the life home country. Please of beef with my class- The Haas Greater Sacramento Summer BBQ in August 2017, with Haas alumni and their families in attendance. Alumni included: Mark now have a base so close positions in business, sciences and clinical reach out if you find mate Mahiro Ochi and Beckford, MBA 96; Brent Haapenan, MBA 13; Craig Mitchell, BS 92; Mike Cappelluti, MBA 00; Rebecca Delmar, MBA 17; Gurjeet Dosanjh, to Berkeley Haas, where finance, and engineer- diagnostics sectors. yourself in Madrid.” meeting his lovely family.” BS 04; Brian Miller, MBA 07; Ben Brasher, EMBA 17; and Melodie Puffer, EMBA 17 it all began. Hit me up for ing at organizations She adds, “I am excited any marketing or design ranging from startups to lead the organiza- 2002 2003 greater Sacramento, which year. Luke was born countries: “Austria was Berkeley Haas alum Alan needs—would love to to Fortune 50 compa- tion into the next growth nies. Those positions phase. Over the last Seong Chen reports, has given me a platform to during last semester at one of America’s first Knitowski, MBA 99. My work with Haas alums. “After working and living energize the region’s Haas and was carried friends and we are here focus is driving a product And happy that this ac- included a series of roles year, MBLI has grown its at Boeing, where she business in the pharma in Switzerland for more innovation and entrepre- across the stage at to remind everyone how strategy using data quisition will bring me to than 11 years, we are neurship ecosystem.” commencement, perhaps important that relation- science to deliver Berkeley more often now.” was in charge of strategy and biotech industry for the global services and gained significant moving (back) to making a Haas degree ship still is today—over intelligent mobile experi- Melbourne, Australia, Paulo Penteado, of his destiny. Congratula- 180 years later.” ences and monetization market and global sales adoption of its products 1999 20th Reunion for unmanned systems; with leading researchers for family reasons. If you Sydney, Australia, tions, Luke! at scale. Our announce- Kim Niquette, MBA 99, skating are down under, please donated his valuable 1997 ment to go public and April 26–28, 2019 on the canals in Amsterdam Insitu, where she was in the immuno-oncology responsible for corporate field. Together with the drop me a note and let’s time, volunteering for Trevor Traina, was enter the cryptocurrency with (clockwise): Winston, meet up!” the Berkeley Alumni Club officially installed as U.S. market will make for an Deborah (Korcheck) Alienor (11), and Jasper (9) strategy, global opera- greater JSR family of in Sydney, helping out ambassador to Austria. interesting ride ahead.” Baldini, of Napa, Calif., tions, and international companies, I look for- growth and partnerships; ward to expanding our Eric Meyerson, of San at the Study in the USA His maternal grandfa- announces, “Familia Kim Niquette, of Amster- Francisco, writes, “After Information Evening. ther, Wiley T. Buchanan, 1998 dam, The Netherlands, and Visa, where she product and services Biordi to Familia Savio to decades in big-to- Haas friendships live forever! Plenty of questions about had served in the same writes, “Last August our was a vice president business especially in Gonzalo Arguello, of Familia Baldini—Biordi medium companies, I’m Edgard Capdeville, MBA 00, applying to Haas from post under President Art Imports lives on to family of four sold most of finance. immuno-oncology, auto- Buenos Aires, Argentina, immune, and metabolic finally doing the real enjoying a nice city view of Rio parents and students. Gerald Ford. writes, “It was beauti- preserve and perpetuate of our belongings and startup thing, leading moved to Amsterdam disease areas.” de Janeiro with local Paulo ful and emotional to be Italian culture in the heart marketing for a new AI Mannheimer, MBA 03 reunited at Haas with of San Francisco’s North with only six check-in startup called Sensai. classmates. After 20 Beach neighborhood. bags, four wheelie bins, Also, we took our kids for Paulo Mannheimer, years, we are not so After 42 years at the helm and backpacks. We also their first international of Rio de Janeiro, changed. We have grown of Biordi, the present expanded our cyber secu- trip, a week of sakura in Brazil, reminds, a little. As well, the love owner, Gianfranco Savio, rity company, Kivu, open- Japan. And we had the “Students Always!” we have for each other is retiring, though not ing international offices in James Gray, MBA 97 has grown. Thanks to all before securing the future Europe and Toronto. Our of Biordi and placing it in family has been traveling extensively ever since, as James Gray, of Our Defining Austin, Texas, Principles we have adopted the ‘we Students can work anywhere’ ethos: updates as Always follows: “In London, Paris, Rome, January 2017, I Berlin, Lillehammer, Mu- nich, The Ardennes, and graduated from the Nalini Murdter, MBA 01 Paulo Penteado, MBA 96 (center), with Ana Penteado, LLM 97 School of Information all over the Netherlands. Social media posts (law), president of the Berkeley Alumni Club of Sydney; and We thoroughly enjoy our with a master’s of Nalini Murdter, Harry Chiam, Cornell alumnus and president of the Cornell information and data new home and encourage Jorge Viera, MBA 01, wth Maria come and go, but anyone with the inter- of Sunnyvale, Our Defining Alumni Chapter in Sydney science. It was a Principles Fernanda, Clara Elisa, and est in taking your family Calif., was Luisa Teresa Viera challenging and fulfilling promoted to Confidence Jim Slipe, of Woodland According to Vienna experience earning a overseas to do it!” without an Alumni Hills, Calif., and Elaine international news president and Attitude Jorge Viera, of Madrid, second degree from 2001 CEO of MBL Spain, announces, “After Slipe are proud to source Vindobona, in his Berkeley 19 years after Note lasts. announce the graduation first statement Traina International (MBLI) moving to Madrid, I my MBA. I continue to Esina Alic was named effective January 2018. formed a joint venture Submit yours at of their son Luke from underscored the close lead the big data team at MBA Class of 1998 classmates Maryam Ghazi, Luca Magnoni, president and CEO of the Haas undergrad bilateral relations Prior to assuming the with a large Spanish Austin startup Phun- Ann Scott, Elizabeth Herrick, Julia Violich, Gonzalo Arguello, and Boeing subsidiary Insitu role of CEO, Nalini served asset manager to haas.berkeley.edu/alumninotes business program this between the two ware, founded by Geoffrey Leland

34 BerkeleyHaas Summer 2018 35 In the Back In the Back Digital Booster Haas Alumni Notes Shots Learn a new subject, watch campus speakers, MBA cont. mostly from low-income my work at NewSchools, or stay ahead with sive technology team. Rao Surapaneni, of San families—in more than I also serve as a founding industry insights. Now that the heavy lifting Jose, Calif., updates as 30 cities across the board member of of the core KarmaCircles follows: “After four years country. Read more Educate78, a nonprofit Visit: product is pretty much of leading the developer at haas.org/2Ioekx8. whose mission is to done, the tech team has program and app store 2004 15th Reunion Tobey also published the ensure every student in insights. some bandwidth to take at ServiceNow, I changed April 26–28, 2019 article “School Lunch Oakland has access to a haasalumni.org on a couple of projects to roles to head engineering in the Trump Era: What world-class education. build products for other for ITSM. Enjoying being Parents Need to Know” “Also, we just celebrat- companies. So, I have responsible for delivery on SheKnows.com. The ed our fifth year as Lair started a product studio of a product that drives 2006 piece, which details how of the Bear campers! My that provides high-quali- 1.5B of ServiceNow THE BERKELEY HAAS ALUMNI NETWORK TRULY IS THE POWER OF ONE ANOTHER Matthew Owings was the USDA has rolled husband, Cory, and two ty software development revenue. On a separate HIRE appointed CFO of back earlier rules that daughters Audrey (12) services at a very note, I am very pleased to Rombauer Vineyards in limited the amount of so- and Cara (8) absolutely teams at @WalmartLabs her and her brother a reasonable price (www. mention that ZebiData, a Napa Valley. Owings joins dium and sugar in school love it. We love playing and Customer Experience blessing. If all world lead- productstudio.us).” startup that I advise, has Rombauer after nearly 10 lunches, is available at Disco Bingo, singing Enterprise Solutions at ers had such humility and launched a successful years with Jackson haas.org/school-lunches. along at the Hootenanny, Cisco, I decided to im- respect toward people 2011 ICO. ZebiData provides Family Wines, where he and booing at anyone merse myself in building who are differently blockchain-based solu- served most recently as Delphine Sherman began who dares to wear red. products at the intersec- able—I am thankful to tions to governments vice president of finance. serving as Berkeley Haas’ We know we’ll be making tion of technology and the Dalai Lama for finding and enterprises. My Earlier, he worked for new CFO in April. many more memories for education at Epixego the time and having the Haas experience played and teaching technology compassion for making HAAS Bain & Company, based years to come!” a big role in steering the Looking for a job? Need to hire exceptional in San Francisco and 2007 product management such a huge difference startup in its journey.” Sydney, and at Agilent April Underwood was and marketing at UCB-X, in our daughter’s life talent? Visit the Berkeley Haas LinkedIn group Technologies, in product promoted to CPO of Product Studio and Com- and the lives of so many 2012 management, strategic product at Slack. As its munity College.” others who are dealing jobs board, exclusively for Haas alumni. planning, and manufac- first-ever chief product with disabilities. As my daughter was born and turing roles. officer, her expanded 2009 10th Reunion responsibilities include diagnosed during my April 26–28, 2019 MBA studies, and Berke- SHARE YOUR JOB OPENINGS Ilyse Pender Our Defining overseeing the com- is excited Principles pany’s design team and ley is the birthplace of LINKEDIN.COM/GROUPS/113/JOBS to announce Beyond its Search, Learning, and the disability rights mo- Yourself Jessica Kennedy that she is now Intelligence group, a New See PhD 12. ment, it is important for us all as business leaders Marissa (Drouillard) Dean, MBA 11, the program York-based division with new baby Paige Emily success manager tasked with rolling out Ariel Rak, of Bloomfield, to look beyond the unique of Coding Dojo’s San Jose artificial intelligence- challenges that people N.J., announces, “On April Marissa (Drouillard) and digital marketing. It ment in a stunning organizations by using campus. Coding Dojo is powered features on with disabilities present 2, our daughter’s tenth Dean, of Incline Village, has been an exciting year SoMa location in San technology to unleash one of the highest rated Slack. Underwood and instead embrace the birthday, her wish to meet Nev., and Cape Town, helping companies small Francisco. Read more the value of their stra- coding bootcamps in the initially joined Slack as diversity and added value Cory and Amy Omand, MBA 07, with His Holiness the South Africa, along with and large, young and old, at haas.org/2IqyEfd. tegic assets. He also industry. In her new role, head of platform. Prior to that we all bring.” hiking in the Emigrant Wilder- Dalai Lama came true. her husband, Jayson, launch new products and serves on the board of Ilyse gets the opportunity that, the longtime techie His Holiness sat with ness near Lair of the Bear 2010 welcomed their first grow their businesses. 2016 Cupertino Educational to help individuals from a worked at Twitter and her patiently, answering child, Paige Emily, Vannie Shu, MBA 2012 Reflecting back and Brian Block, Endowment Foundation, variety of backgrounds , of Oakland, Google. Read more about the questions she asked Deepak Goel, of Folsom, Our Defining Amy Omand January 24, 2018. realizing I’ve had a 100 of Saratoga, Principles a nonprofit supporting and skill levels transform Calif., writes, “I am the her: haas.org/2EA17ic. him with her eye gaze Calif., writes, “I have been percent client repeat rate Calif., devel- Confidence students K-8 and their into professional senior director of finance communication device. gradually building without so far was a delightful ops and drives Attitude teachers since 1984. software developers. and operations at 2008 He shared with her the KarmaCircles over the surprise! I can’t wait to large-scale Brian, his wife, and two Prior to joining Coding NewSchools Venture birthday cake we brought last couple of years, and see what new challenges technology transfor- daughters just celebrated Dojo, she worked in Fund, a national and offered to feed her I’m proud to say we’ve put and opportunities are in mations that integrate the second birthday of marketing, sales, and nonprofit venture himself (!). He also gave together a very impres- store next. If you need a and apply cutting-edge their eldest, who was business operations for philanthropy working little extra help, advice, technology solutions only 12 days old at several wineries in the to reimagine public or just want to say hello, throughout his career graduation from Haas. Santa Cruz mountains education. We invest in I’d love to hear from you. at Adobe. He is thrilled and was a software teams of educators who Learn more at unvannish. that the latest strategic development manager. are launching schools com or email me at van- vision and analytic prod- with new approaches to [email protected].” uct team he created in Kristin Groos Richmond ensure students’ BCEMBA 2016 will be recognized and Kirsten Saenz Tobey, learning experiences are with a CIO 100 Award for Revolution Foods co- more personalized—tai- 2014 5th Reunion 2004 15th Reunion business results at the founders and both MBA lored to their individual April 26–28, 2019 April 26–28, 2019 Badri Raghunathan, MBA 11, and family during a recent trip upcoming CIO 100 Sym- 06, were featured in the needs, skill levels, and to Hawaii posium in August. spring Diablo maga- interests. And, they are Always embracing the zine in an article about designed to provide the Anita Balaraman, MBA 08 , of , of San Fran- 2009 10th Reunion Badri Raghunathan Vannie Shu 2015 term “trusted advisor” game-changing women combination of a founda- San Jose, Calif., recently cisco, notes, “I hit the first April 26–28, 2019 Aarti Shetty, made her from his early consulting of the East Bay. Revolu- tion and the important Anita Balara- Our Defining went full time on his first anniversary of starting Principles days, he enjoys seeding tion Foods now provides habits, skills, and man, of entrepreneurial venture Unvannish Inc.—my mar- debut as a restaurateur Beyond and executing strategic more than 2.5 million mindsets today’s Fremont, Calif., in the tech space. keting consulting busi- with her chef husband Yourself at Birdsong, their new initiatives and is excited freshly prepared meals students need to be writes, “After Ariel Rak, MBA 09, with His Holiness the Dalai Lama; daughter, ness that specializes in fine-dining establish- to deliver results for each week to children— successful. In addition to leading product Keren; son, Hillel; and wife, Iris consumer product, brand,

36 BerkeleyHaas Summer 2018 37 In the Back In the Back

Haas Alumni Notes Save the date: MBA Reunion Weekend, April 26–28, 2019

MBA cont. enhanced subsequently EMBA and video games, there nity is huge. This season parents in appreciation 1986 In Memoriam by Carhart. We have is such a thing as we were able to outfit for saving the family from Cathy Goodwin, of refined and adapted this 2014 EMBA 5th Reunion neglected sports five boys and two girls, as World War II and coming Philadelphia, writes, “I’m Kiyoshi Hachiya, BS 42 model for U.S. technology April 26–28, 2019 equipment. And kids who well as provide registra- to America. They continuing to serve clients Joseph Mixer, BS 44 2010 stocks with a focus on won’t get a chance to tion fee ‘scholarships.’ abandoned everything worldwide as an online factors that we consider play the game they love. Next season promises a they had and endured Jean Austin, BS 46 Chris Fong was fea- marketing strategist. My relevant (from a VC per- And parents sick to their chance at scaling up, dangers and hardships, Thelma Lange, BS 47 tured on CNBC.com new website is storycen- spective). I would love to 2015 stomachs with bills they with a bigger supply ending up in a refugee as founder of Xoogler. teredmarketing.com, Paul Grunland, MBA 48 share further details and can’t pay, opportunities capability and better camp in the Sinai desert co, a 4,000-member- David Dieterich, of reflecting my emphasis connect with like-minded they can’t provide their outreach to prospective for three years before Joseph Inglese, BS 49 strong entrepreneurial Phoenix, Ariz., writes, on storytelling for small alumni. Hoping to connect children. There are participants. I’m so coming to California. The Philip Ho, BS 50 community that helps “I’ve joined the board of business marketing. My with you all. Also, we went certainly places more excited about the foundation is very small ex-Googlers launch my local Little League Kindle book Grow Your Bernard King, BS 50 to Chile for winter 2017. A deserving of assistance amount of work there is now, but it is hoped it will successful startups and organization to start an Business One Story At A Alan Perry, BS 50 beautiful country with so equipment recycling than my very affluent to do. Wish me luck.” grow. It will offer scholar- Time suggests that small Googlers/Xooglers to Edmund Bartlett, BS 51 much to do.” program. When I was a ships to deserving business storytelling invest in them (angel.co/ students in higher xooglers/syndicate). kid, I loved baseball. But I should be strategic and Ross Cadenasso, BS 51, grew up very poor and education. Serge retired purpose-driven, with MBA 52 The article featured from teaching in 2001 Xoogler.co’s exclusive my parents could not Tariq Dennison, MFE 04, with his boys aged 6 and 10 riding camels seven story types Emily Chen, BS 51 afford all the gear, so I after 18 years at Crum- identified. I’ve presented demo day where entre- near the China-Tajik border mer Graduate School of Anthony Ellis, BS 51 preneurs pitched their never got to play webinars on related organized baseball. Business, Rollins College. topics and have free Alan Parsons, BS 51 startups. Read more at: Question the Status Quo published The Adven- He also taught at Indiana haas.org/2rNDgHg. Football got you all the and start with the tures of a Modern reports and recordings on William Geer, BS 52 stuff each year at low University and Texas my website. I continue to obvious. As smart Renaissance Academic in Christian University. He Robert Theiller, BS 53 2011 cost. So guess what Berkeley graduates, we Investing and Gambling maintain my first website, sport I played? Yep, the was a founding director MidlifeCareerStrategy.com, Lynn Brown, BS 54 easily get tempted into (World Scientific and officer of the head injury one. Fast working on the most Publishing Company, and have some Amazon Leon Fish, BS 54 forward to this year, Mid-Florida Chapter complex and cutting- 2017). The book tells the books related to careers Jack Dokey, BS 56, when I had enough free Fulbright Association. and moving. I love doing edge challenges, though story of how financial MBA 57 time on my hands I’ve learned the greatest markets have evolved talks and webinars and (thanks Haas!) to coach impact I have is in over time and became currently am looking to do Murray Hannon, BS 56, Sonal Sinha, BCEMBA 11 Beau’s baseball team. I Arcadia Little League board members Tony Giancana; Jennifer more, as well as publish MBA 57 Steen, PhD 00 (political science); Dave Dieterich, EMBA 15; and solving simple problems increasingly complex. had the time of my life. I that seem to get less Ziemba, a successful and more Kindle books via Douglass Mann, BS 56 Sonal Sinha, of Cupertino, finally got to play youth Cade Dieterich Amazon. I took an Calif., started a new role glamour and attention. experienced trader who, Richard Treadwell, baseball—with my kids. I Specifically, I have been among other things, won amazing vacation to as partner at PwC. The job lived Little League, all Little League. But I Devadutta Ghat, of Egypt a couple of years MBA 57 will be to drive the GRC challenged our league to Campbell, Calif., increasingly focused on the 2015 battle of the season long, four days a simply helping U.S. quants futures contest ago. My personal life is Ronald Gin, BS 58 (Governance Risk and week. When the season be the first we know of co-founded and raised focused on working out Compliance) Technol- where no little boy or girl $50M for VideoCoin— taxpayers, especially held in New York, shares Myron Hemley, BS 58 ended, my kids had those living in Asia, how one can navigate at the gym and making ogy Solutions Practice outgrown three mitts who wants to play a decentralized video ceramic sculpture.” Per F. Ristvedt, BS 58 nationally for PwC. baseball or softball will infrastructure network better invest and take today’s dangerous Rupam Shrivastava, BCEMBA 11 and four bats. Every day I care of their 401(k) financial markets and be Gordon Cole, BS 59 pulled into my garage, I be turned away. We will that will power the next 2012 Rupam Shriv- 2013 cover their registration generation of video plans. I am always happy successful.” Charles Courey, MBA 60 Our Defining could see this little pile to meet and speak with Jessica Kennedy, an astava, of San Principles of proud, but worn, gear fees, find them equip- applications on the John Henning, BS 61 Jose, Calif., alumni at +852 9476 assistant professor of Confidence sitting in the corner. After ment, and reach out to blockchain enabled William Hobin, BS 61 without 2868 or via email at management at Vander- reports, “My a long day at the office, welcome them and their internet. partners and Attitude [email protected]. Serge Matulich, PhD 71 bilt’s Owen Graduate Thomas Lam, BS 63 the gear seemed to call parents. Editor’s note: learn more I are launching “Last summer I did School of Management, out, ‘Let’s go play!’ In an “We are starting very about Ghat’s work in our Robert Brooke, BS 65 a new asset manage- another ‘boys only’ trip 1972 was named one of the era of mobile devices small, but the opportu- blockchain feature story, Harry Schroeter, MBA 65 ment company. We have with my 10-year-old Charles Snow reports, 2018 best 40 under 40 pp. 12-15. Stephen Cummings, an 18-year pedigree in and 6-year-old to the “Since retiring from professors by Poets & venture investing with far western frontiers Penn State’s business Quants. Among her BS 68 successful investments 2017 EMBA 1st Reunion where China borders school in 2012, I have Berkeley Haas influ- George Harney, BS 70 Tajikistan and Pakistan like Baidu and Skype. Our April 26–28, 2019 been a visiting professor ences, she counts William Van Dick, BS 70 newly launched public and few people speak in Norway, Denmark, Professors Laura Tyson, Teri Kaczmarek, BS 78 equity fund focuses on Mandarin. I still have Slovenia, Australia, and Jennifer Chatman, Laura factor-based investing MBA Audit many other parts of New Zealand. Last June, Kray, and Cameron John Greer, MBA 84 for technology stocks. China to show them. I received an honorary Anderson and Professor Ron Snitker, BCEMBA 13 Program Michael Oransky, BS 85 The plan is to use VC- MFE Book by William T. Ziemba, doctorate from BI Emeritus Barry M. Staw. style investing in public Read more at haas. Michael Stephenson, Ron Snitker, of Nashville, Reconnect with Berkeley MBA 65, PhD 69 Norwegian Business stocks—focusing on 2004 org/2ImgayJ. MBA 88 Tenn., has been elected Haas and enhance School. I live in Eugene, strong teams, scalable PhD president of the board for your education through Tariq Dennison, 1971 Oregon, with my wife, William Anderson, BS 93 business models, capital of Hong Kong, Our Defining Barbara, and our the Nashville LGBT Cham- post-graduate learning— Principles , of Sheila Umolu, MBA 95 efficiency, and sustain- writes, “Two 1969 Serge Matulich daughter Vanessa ber of Commerce and Question the Orlando, Fla., created William Rannals, MBA 19 able growth among oth- for free. main prin- Status Quo William Ziemba forwards lives and works in Foundation for 2018. The Matulich Foundation Inc. ers. Our research is based ciples I learned the following: “Prolific San Francisco.” Dean Edwards, Friend 300+-member organiza- (matulichfoundation.org/ on the original Fama Learn more: at Cal that I author William Ziemba, tion celebrates its 20th video), a charitable family John Gentry, Friend French 3 factor model as haas.org/mba-audit regularly apply are MBA 65, recently anniversary this year. foundation to honor his Eugene Tracas, Friend

38 BerkeleyHaas Summer 2018 39 In the Back CONNECTING YOU TO YOUR Haas Personal View Ori Brafman, Haas Lecturer WORLDWIDE NETWORK where doctors gave Ori Brafman is a multiple him IV antibiot- New York Times best- Get the most out of your alumni network—connect with other Haasies near you. Whether ics and three blood selling author and a traveling for work or relocating, reach out to your fellow alumni. You never know what this transfusions. By the distinguished teaching could lead to—a new venture or a new friendship! next day, he was fellow at Berkeley Haas feeling better but focusing on improvisa- still confused. tional leadership, data “What is this science, and artificial place where they’re intelligence. His new Meet a few of the so nice and are tak- bestselling book, Radi- alumni near you ing such good care of cal Inclusion: What the us?” he asked. Over Post–9/11 World Should 1 SACRAMENTO, CA the next few days, he Have Taught Us About Brent Haapenen, MBA 13 continued to marvel Leadership, co-authored Mark Beckford, MBA 96 at the kindness and with retired General 2 LOS ANGELES care he received— Martin Dempsey, argues Chris Pope, BA 06 even remarking that that inclusion is no he felt like he was in longer a “nice-to-have” 3 SEATTLE a vacation resort. but a strategic impera- Ravi Vayuvegula, MBA 13 We now have Dad tive in today’s rapidly 4 BOSTON 2.0, who recognizes changing world. Marina Liang, BS 14 9 how much doctors 5 NEW YORK CITY have helped him 8 Brafman specializes in Chris Nuttall, MBA 02 and is trying as hard organizational culture, 3 Alex Pederson, MBA 12 as he can to stay employee engagement, 4 Pooja Saksena, MFE 06 in the hospital. The business transformation, 1 5 prognosis for a cancer this advanced isn’t good, but we leadership, and emerging 6 SANTIAGO, CHILE 2 Pedro Kudrnac, MBA 10 Run Toward enrolled him in an experimental study that, so far, is technologies and has 15 showing promise. This new dad is even more apprecia- advised all branches of 11 Raimundo Silva, MBA 10 Marcelo Vasquez, MBA 02 tive of my mom, even more glad to be alive. the U.S. military, the Your Fears This was the irony: In avoiding his biggest fear, Obama White House, the 10 7 LIMA, PERU my dad manifested it. But when it came true, it was a National Academy of Nikolas Thiessen, MBA 16 The joy of life’s difficult moments release—and even brought joy. Sciences, Google, Monica Wiese, MBA/MPH 05 How many of us can say we’ve confronted our fears? Microsoft, and NATO, 12 8 LONDON, UK I got the call from my mom around midnight. My dad And isn’t it strange that doing so could bring such plea- among others. Learn 14 Ali Hasan Butt, MBA 09 had fallen—the untreated skin cancer on his face was sure? I started thinking about what I was running away more at oribrafman.com. 13 Paul Callaghan, MBA 81 bleeding, and he’d lost so much blood he’d passed out. from. How could I run toward my fears? And what 9 DENMARK Over the past few years, my brother and I had pled would this look like in a business environment? Mathais Gydesen, BS 13 with our dad to see a doctor, but the response was al- While my dad was hospitalized, I was getting ways a litany of reasons why the medical “establish- urgent text messages from an associate with whom I 7 10 HONG KONG ment” couldn’t be trusted. He instead tried a variety of was considering a three-way strategic partnership. We James Man, MBA 03 “alternative” treatments. had ironed out the details and were ready to sign—but 11 SHANGHAI now he wanted to know the terms I had negotiated A vegan for 30 years, my father forced himself to Freeman Ding, MBA 11 eat raw steak, raw liver, raw eggs, even raw cuts of with the third partner. fat—all doused in cayenne pepper to mask the taste. I felt guarded but told myself, “Run toward your 6 12 BANGALORE, INDIA Then came enzyme pills, up to 70 per day. Eventually fears.” Rakesh Singh, MBA 95 he—a man who has never even been drunk—turned Resisting the urge to hold back, I shared the details 13 SINGAPORE to cannabis. of my deal. With the new information in hand, how- Vivek Jadhav, MFE 07 Meanwhile, the tumor on his face grew from the size ever, the would-be partner tried—via text message—to of a nickel to the size of a dollar bill, covering one cheek renegotiate our terms to be more favorable to him. 14 GHANA and starting to encroach on his eye and ear. I thought my newfound philosophy had backfired. Patrick Awuah, MBA 99 The morning after my dad’s fall, a hospice nurse gave But then I realized that what I had really been afraid of 15 TEL AVIV, ISRAEL us a bottle of morphine—a sign to us that the prognosis was an awkward conversation that might kill the part- Idan Geva, MBA 09 was dire. But still my dad refused to go to the hospital. nership. So instead of texting back to negotiate, I called Finally I put on a hoodie, went outside, and tapped and had a frank conversation—during which I learned on his window with a long stick. My brother told him, that the original contract was actually not beneficial to “Look, it’s the angel of death, here for you.” That twisted me: I was better off without this partner. levity finally got him to agree to treatment. In trying to avoid my fear—losing the partnership—I We went from medicine circa 1500 to a modern ER manifested it. And when it came to pass, it brought joy. View a full list of Alumni Chapters and Interested in volunteering? Contact Regional Representatives [email protected]

40 BerkeleyHaas