The Final Frontier a NEW SPACE RACE HAS BEGUN, with HELP from WHARTON ALUMNI

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WHARTON MAGAZINE Return To the Final Frontier A NEW SPACE RACE HAS BEGUN, WITH HELP FROM WHARTON ALUMNI

Astronaut Garrett Reisman NEWS ENG90 W90 Summer Programs On Campus 18 (And Beyond) IDEAS Is Your Business Ready 28 To Scale? PEOPLE Inspiring the Women Leaders 50 Of Tomorrow

SPRING/SUMMER 2019 “More than ever, YOUR Wharton allowed me to bridge my MORE THAN EVER entrepreneurial, MOMENT? analytical, and leadership interests beyond my wildest “…taking my life to a whole new level…” — Davit Ninikelashvili WG19 expectations!” —Jamison “JJ” Vulopas W19 Author and James G. Dinan Endowed “…pivoting into a new career…” Scholarship II Recipient — Milo Tong WG19

“…learning I can achieve so much more…” — Jerina Coku WG19

Watch JJ’s interview with Jamie Dinan Investor, philanthropist, and More Than Ever co-chair Jamie Dinan W81, has supported the dreams of nearly two dozen students, including JJ Vulopas, MORE THAN EVER through his contributions to financial aid. The historic $1 billionMore Than Ever MOMENT: comprehensive fundraising campaign is supercharging Wharton’s ability to create leaders who will change the world. whr.tn/my-mte whr.tn/my-mte #MoreThanEver spring/summer 2019 wharton magazine 1 from the dean the inbox

ulty director and Ronald O. Perelman Professor in Finance David Musto, the Stevens Center will work editor’s letter The Future to ensure that innovation in finance is a force for good among businesses and communities around Of Finance the globe. harton alumni often find themselves standing at the vanguard—of industry, social change, global progress. In With the partnership of alumni and friends our cover story on the new space race, we hear from some graduates with front-row seats as private companies like Josh and Ross, Wharton will always be compete against each other and work with public entities to reenergize our collective wonder about what lies far “The Finance School.” Their support adds to beyond Earth. (And in the case of our cover model, NASA/SpaceX alum Garrett Reisman ENG90 W90, we mean Wharton’s core research advancing the under- W“front row” literally.) ↓ ince our founding, Wharton has standing of finance through the Jacobs Levy Equity Brexit, the U.S. In 1999, a different kind of revolutionary launch took place on campus with Knowledge@Wharton’s debut as an online- been celebrated the world over as “The Management Center for Quantitative Financial war on Huawei, only journal, long before traditional media scrambled to adopt a digital-first philosophy. In the two decades since, K@W has how to tackle Finance School.” But the pace of change Research as well as the Rodney L. White Center populism—these become an essential resource, spreading academic research and insights from business leaders—both Wharton-affiliated and in financial services today is breathtak- for Financial Research. But Wharton is also about are just some otherwise—to a worldwide audience. Meet the visionary behind K@W and learn more about its many offerings, from radio ing, and the consequences are profound much more than finance. That is why our campaign of the topics shows to podcasts to high-school programs, on page 42. Dean Garrett has not only for investment profession- is highlighting other major initiatives, including covered in his Speaking of high schools, they’re a big reason why campus is still bustling after classes end in the spring. Our feature on als, but also for society as a whole. Wharton must data and analytics and innovation and entrepre- recent LinkedIn Wharton’s summer programs includes those for undergraduates and MBAs, of course. But it’s the young scholars who are Scontinue to define and redefine the cutting edge of neurship. With your support, Wharton will shape columns. For the heart of a diverse cast—teens who come here to sharpen their talents, expand their horizons, or get their first glimpse advice from financial innovation, leveraging our incredible his- not only the future of finance, but also the future of his piece on into the world of higher education. Whether those students end up back on Locust Walk or at another institution someday, if tory and heritage to transform the future. business and, with it, the future of society. rethinking their time here ignites a passion for learning, it’s “mission accomplished,” as our friends in the space industry would say. leadership Alternative asset classes like private equity, hedge clichés, see —Richard Rys, editor funds, and venture capital are transforming invest- Geoffrey Garrett is Dean and Reliance page 38. ment opportunities, often out-performing portfolios Professor of Management and Private based on publicly traded stocks and bonds. At the Enterprise at the Wharton School of Game On Recognizing ENIAC’s Legacy same time, financial technology—fintech—is revolu- the University of Pennsylvania. t’s great to see Wharton Magazine ecently in the New York Times, there was a wonderful tionizing the business models of financial services, cover e-sports [“Welcome to cover story about ENIAC, the first general-purpose from mobile payments to microcredit, from lending R electronic computer ever invented, which was to insurance, from cryptocurrencies to financial I the Billion-Dollar Business of constructed and operated at the University of Pennsylvania. planning. As Nobel laureate Bengt Holmström put it E-Sports,” Fall/Winter 2018]. The Times piece followed a thoughtful essay about ENIAC to me recently, data is the new collateral, decentral- In 2015, I joined Battlefy, which a few months earlier by Myron Weiner WG51, published on izing and democratizing finance. the Wharton Magazine Blog Network [“The ENIAC Legacy: That is why the Future of Finance is one of the is now the largest open e-sports Past, Present, and Future”]. It’s difficult to imagine how top priorities for our More Than Ever campaign, competition platform in the world. we could manage without such electronics in our lives Wharton’s commitment to remaining in the global Through our many partnerships today—from our smartphones and touch screens to vanguard of finance research and education. In this with game developers and brands, automobiles and medical equipment. And it all happened letter, I want to highlight two major new initiatives at our own alma mater. Come see the 40 original panels made possible by alumni who share our vision, pas- we’ve come to evangelize one of ENIAC on the ground floor of the Moore School of sion, and commitment. message—“Win the hearts and Engineering and Applied Science, and be amazed! Wharton Overseer Josh Harris W86 and his minds of the grassroots competitive Tom Hadlock WG66, New York, NY wife, Marjorie, have extended their long history of generosity to the School with a new gift to name community.” It is the broader player the Joshua J. Harris Alternative Investments base that baptizes a video game into Program. Earlier, Josh co-founded the Wharton the e-sports tier. The probability Inspired to Aim Even Higher Private Equity Professorship, currently held by of someone playing Overwatch Bilge Yılmaz, a professor of finance who will serve hank you, Wharton Magazine, for telling my as faculty director of the Harris Program. A global after watching Overwatch League story [“Team Players,” Fall/Winter 2018]. hub for world-leading research and teaching in is immensely greater than that It’s such an honor to be featured along with alternative investments, the Harris Program will of someone playing football after T so many impactful alumni and faculty from build on our foundation of hugely popular courses watching Monday Night Football. and co-curricular offerings, growing this critical Wharton who are trailblazing in different fields. work that brings together students, alumni, aca- Consequently, brands that want Their stories showed me how much more I could, demics, and practitioners. to be successful in engaging in and should, do in my own field and inspired Working at the center of technological disrup- this space need to focus on both tion and new thinking in finance, the Stevens Center me as lights on the road ahead of me. Thank for Innovation in Finance, with the support of Ross spectators and players. you once again to the Penn GSE Education Stevens W91, will enable faculty and students to Carlos Alimurung W98, New York, NY Entrepreneurship Program, especially Jenny Zapf, study and catalyze the fintech revolution, working Bobbi Kurshan, and Christian Talbot! in real time with the companies that are transform-

ing the delivery of financial services. Led by fac- Cindy Liu WG18 GED18 via Facebook, Mountain View, CA shareTo your thoughts on this email issue, [email protected]

2 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 3 Contents Global Impact Wharton’s regions 14 Entrepreneurship. Penn Wharton Key data from Incubation Innovation indicators 13 On the Scene photo gallery 12 Health Unicorn And a Men’s Driving Tractors, Fashion, Self- Charitable watchlist 8 the inbox 3 Amy Downey Amy Scholars Summer feature 18 1

“ Janine White Janine treats. cream and frosty business of ice The enduring Freeze for All the report 16 Kirk Griswold WG88 Griswold Kirk of onlineshopping.” deal from the impact insulates usagreat The socialexperience news , p.16 , “ personalities. different shockingly develop Two AI programs Myself My Chatbot, excerpt 30 Greenstein Louis With Gad Allon Whiteboard At the whiteboard 28 scaling iscomplexity.” The silent killerof Gad Allon, p.28 Allon, Gad professor Decisions and Information Operations, Malcolm Burnley Malcolm Knowledge Celebrating feature 42 2

Brandeis to bitcoin. readings, from Recommended Modern Finance Shaping The Forces syllabus 32

ideas

Spring/Summer 2019 33 Research? Crisis in Replication Is There a k@w q&a 40 data k@w 38 The Bottom Line Turnover Affects How Employee Exit Examination: k@w thedeck 37 Workers? Motivate Does Fear the case k@w 34 In Private Equity Finding Virtue k@w essay

mike perry, david williams; nasa Adejare W19 Adejare Adedotun R. Paging Wharton walklocust view from 52 WG18 Huiatt Autumn and WG18 Kali Bhandari storytelling. girls through Empowering Champion Her Own essay 50 Gambacorta David Frontier Final To the Return cover story 58 3

Mukul Pandya W64 Anne Sceia Klein life lessons 96 WG19 Shah Kahini the Code Cracking cohort 56 WG17 Nayla Bautista sustainable. from startup to A nonprofit grows Good Sport pivot 55 “ right track.” we were onthe received confirmed the responses we our voices. But students finding entrepreneurs, We were first-time Kali Bhandari WG18 Bhandari Kali people

, p.50 , NASA photograph: cover Notes Class Class

WHARTON [email protected] Inquiries Advertising upenn.edu email: fax: telephone: PA 19104 Philadelphia, Street Walnut 2929 Tower,FMC 500 Suite Affairs External Wharton Update Address Alumni Attn: Magazine Wharton mail online: Address of Change Affairs External Wharton by semi-annually Magazine Wharton 25 vol. Magazine Wharton Communications & Stewardship Director, Executive Katherine A. Primus Affairs External Dean, Vice Sam Lundquist Enterprise Management and Private Dean and Reliance Professor of Garrett Geoffrey Administration Fagliano Maria Clark, Sophia student interns Pentagram Hung, Jenny Hayman, Luke design Justin Flax services creative Schrand Catherine Maryellen Reilly Raju Jagmohan WG78 Rabinowitz Gloria Mukul Pandya Lane Bishop Peggy Katzenbach Jonathan editorial board Sacco Leigh editor notes class Braden Kelner associate editor Rys Richard editor Editorial Staff +1-215-898-2695 magazine@wharton. WhartonConnect.com edition 1 edition +1-215-746-6509 is published is published

MAGAZINE

News 1

Headlines: Watchlist—8 Photo Gallery—12 Indicators—13 Regions—14 The Report—16

In the frozen- treats business, the in-person experience is essential: see p.16

Illustration by James Taylor spring/summer 2019 wharton magazine 7 news / watchlist

• Hims Sana Health Men’s wellness brand Hims has Charitable skyrocketed to startup stardom: The After suffering life-threatening nerve damage lifestyle company founded by Andrew from a car accident in 1992, Richard Hanbury WG01 devised technology to ease his pain and Dudum W11 and fellow Wharton Fashion, sleeplessness, then refined the device over the alumnus Jack Abraham has quickly next 25 years. Sana, which looks like a sleek racked up venture capital funding VR headset or ultra-padded eye mask, casts since its launch less than two years Self-Driving patterns of light and sound that deeply relax the Rui Jing Jiang W18 and Brandon Kao ENG18 brain. Because everyone’s biometrics—pulse ago and is now reportedly valued and breathing rate, for example—are different, • Avisi Technologies at $1 billion. That puts the maker of Sana quickly learns the unique algorithms a As juniors, Rui Jing Jiang W18, Adarsh Battu hair-loss, skin-care, and erectile- Tractors, and user needs to fall and stay asleep. The device W18, and Brandon Kao ENG18 entered the dysfunction treatments in a select is so effective at relieving chronic-pain-related and PTSD-induced insomnia that Sana Health Y-Prize, a competition that challenges students club of unicorn startups. Equally A Men’s Health is in clinical trials with Mount Sinai Hospital, to commercialize Penn-developed technologies. impressive may be the speed at which Stanford Sleep Labs, and the U.K. military, They came up with VisiPlate, an ultra-thin Hims has expanded its offerings: Just aiming to obtain FDA certification this year. nanoplate implant made of long-lasting last year, the company established Unicorn aluminum that will treat mid- to late-stage Hers with a lineup of similar products New and notable ventures from Wharton alumni glaucoma—the second most common cause for women. of blindness globally. They refined VisiPlate through Penn Wharton Entrepreneurship’s VIP-X accelerator and a seed grant from Penn’s Singh Center for Nanotechnology, where they made nanoplates for testing. Now, as winners Richard Hanbury WG01 of the $100,000 President’s Innovation Prize, they’re working with an expert team to bring the product to the clinical stage. Aira • Aavrani Need a confidence boost? Embrace your inner rani, which is Great leaps in artificial intelligence and augmented the Hindi term for “queen” and the idea behind luxury skin- reality have proven to be disruptive care venture Aavrani. Co-founders Rooshy Roy WG19 and in many corners of our lives. For Justin Silver WG19 met at Wharton, and a conversation about some of us, they’ve been life- Roy’s love of Indian skin-care traditions eventually led to a Yummy Bazaar changing. Founded by Yuja Chang This e-commerce marketplace is exactly WG18 and Suman Kanuganti, Aira is quest for funding and the launch of their all-natural beauty harnessing AI and AR to assist blind business. Based on ancient practices, their four-step routine what its name suggests: a smorgasbord of or low-vision people with tasks they combines nontoxic, cruelty-free ingredients like turmeric, tasty treats from around the world. Whether might not be able to do otherwise. neem, and almond oil to The elevator pitch: Subscribers you’re hungry for lemon tarts from France, connect with Aira agents when bring out women’s inner pistachios from Turkey, truffle oil from they need help navigating their radiance. With the first surroundings. Using visuals and Indian Miss America, Italy, or chili paste from Korea, Yummy data sent by customers from phones and Aira’s smartglasses, the agents Nina Davuluri, on board Bazaar ships to every state from its offer real-time assistance for tasks as a co-founder, Aavrani warehouse in New Jersey. And after nabbing nearly $2.25 million from seed- that range from catching flights to is rapidly advancing stage venture capital firm iFly Venture, founderRebecca Chou WG13 is applying for jobs. For challenges like its mission to help all reading, there’s also Aira’s AI agent, looking to capture even more attention (and taste buds) from the roughly 65 Chloe, who helps users directly via women, as its hashtag says, Rooshy Roy WG19 and Justin Silver WG19 their phones. #GlowAndConquer. of aavrani courtesy percent of consumers who purchase specialty foods.

8 wharton magazine spring/summer 2019 Illustrations by Cynthia Kittler spring/summer 2019 wharton magazine 9 news / watchlist

• Bear Flag Robotics Driverless cars could be Silicon Jeenie Hyperlite Frank Valley’s next big breakthrough, Mountain Gear Seven billion dollars— but self-driving tractors might Cultural awareness: In today’s that’s how much financial beat them to the punch. Founded globalized world, it’s more important Dan St. Pierre W94 was already than ever. Jeenie, developed by Kirsten a veteran of corporate finance aid Charlie Javice W13 has by Igino Cafiero WG17 and Brecht Baker C91 WG96, is meant to and entrepreneurship when Aubrey Donnellan in 2017, Bear help you navigate other countries and his brother, Mike, had an idea. helped deliver to students Flag Robotics is developing cutting- cultures with confidence. Right when Mike had been so dissatisfied via her online platform, you need it, this mobile app delivers with the design of most outdoor Charlie Javice W13 edge technology that promises to give language help and cultural advice gear that he’d begun to make his Frank. Even though 90 farmers remote control over their agricultural to the palm of your hand. Operators own backpacks and shelters. percent of college students are eligible to equipment. The startup isn’t seeking to reinvent (called “Language Jeenies”) are live After hikers and rangers he the wheel; instead, it’s retrofitting existing at the touch of a encountered on his frequent receive aid through the Free Application button to assist with getaways showed interest, Mike tractors with its sensors and actuators. Bear conversations and saw potential in selling his wares. for Federal Student Aid, or FAFSA, nearly Flag wasn’t always meant to be a farming questions, to ensure Dan agreed, and together they half of them never fill it out. This customer- venture: Cafiero started building the company’s that nothing gets founded Hyperlite in 2009. The company today offers a robust set friendly interface helps students access and first prototype as a mining solution for an uncle- lost in translation. This means users of ultralight, durable products complete their FAFSAs; in as few as four in-law’s rock quarry but shifted his focus when can book that next for the world’s most serious orchard owners in California expressed interest. vacation or business adventurers, and its claim minutes, they can apply for federal and state Bear Flag’s work is paying off—the startup has trip with confidence, that its gear is “designed knowing they’ve got to function perfectly” aid as well as institutional grants and other raised at least $4.5 million to date. Kirsten Brecht Baker WG96 experts on call. hasn’t gone unnoticed: assistance. That’s all loan-free money, which Its UltaMid 4 tent was named one of the best- means minimizing debt and ensuring that designed American- graduation day is spent celebrating, not made products by Inc. in 2014. worrying about paying off loans. • ForLikeMinds Approximately one in five adults in the U.S. experiences mental illness each year. It affects so many of us, and yet anxiety, depression, substance use, and other disorders can be incredibly isolating. • Rare Carat Dyla Brands Inspired by the compassionate community that Thinking about popping the question to that special Neel Premkumar WG08 wants to Silver Lining Bespoke fostered her own recovery, Katherine Ponte WG01 someone? Rare Carat is ready to help you find the perfect fuel your day in more than one way. created ForLikeMinds, a peer-to-peer support site diamond engagement ring at the right price. Led by Ajay Through his company, Dyla Brands, Rel Lavizzo-Mourey WG15 founded Premkumar sells Forto, coffee shots Silver Lining Bespoke in 2015, partnering that connects people living with or caring for those in Anand WG13 G14, the company isn’t in the business designed to give consumers boosts with award-winning artists and the similar circumstances. After a quick, secure sign-up of actually selling rings—instead, its search engine of energy equal to one or two cups of Smithsonian to dress us in art. The survey, members chat compares diamonds across retailers like Macy’s, Four coffee. (His lightbulb moment came company’s range of U.S.-made apparel Mine, and Yadav to find the after the birth of his twin daughters, includes a denim trucker jacket that opens in private forums with when he was drinking large to reveal monoprint mountain views; an groups or individuals who best deals. Self-described amounts of caffeine to stay atop organic cotton trench coat with dreamy share their conditions, as the Kayak for diamonds, parenting and work.) Premkumar abstract patterns inside; and a super- life events, or relatable Rare Carat has been covered also wants people to get their daily soft kid’s hoodie lined with adorable recommended intake of water designs by a children’s book illustrator. demographics, including by the New York Times, with help from his Stur powdered Lavizzo-Mourey channels a percentage of age, language, and Forbes, and other national and liquid mixes. Like Forto, Stur retail profits to arts education initiatives student or military media for its efforts to create was inspired by his children: that spark creativity and innovation for status. As members share a transparent shopping Premkumar began looking for ways students in underserved communities. to flavor water so his wife would Here’s to the day when every coat (and experiences, Ponte hopes, experience leading up to one stay properly hydrated while she Katherine Ponte WG01 Ajay Anand WG13 G14 hoodie and handbag) has a silver lining. together they’ll thrive. of life’s milestone moments. was pregnant.

10 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 11 news / photo gallery news / indicators On the Scene From New York to Shanghai, Wharton alumni Innovation 638 gather around the globe. Incubation Companies founded by MBA alumni Penn Wharton Entrepreneurship has put the School on the map as a hotbed for aspiring founders and a place where startups find essential support, both intellectually and financially.* 4,561 *All figures from 2016–18 unless noted Students engaged through PWE 2 programming 757 TWENTY-FOUR Companies founded by undergraduate PWE team members in Philadelphia 7-9 P.M. EST alumni and San Francisco Airtime each Wednesday for Launch Pad, hosted by vice dean of entrepreneurship and innovation Karl Ulrich and Rob Coneybeer WG96 on $1,827,853 Wharton Business Radio, SiriusXM channel 132 Total funding for student ventures $250 1 3 Minimum seed funding for each student venture awarded through the 641 Penn Wharton Innovation Fund Students across Penn who’ve participated in the annual Startup FORTY-FIVE Challenge $600,000+ Alumni and business professionals Prize money available to Penn and who’ve volunteered to help aspiring Wharton student entrepreneurs Penn student entrepreneurs through annually the “Experts in Residence” program

4 5 $24 BILLION 214 980 Capital raised by MBA alumni startups Student ventures awarded through the Student ventures developed through since 2006 Penn Wharton Innovation Fund PWE 1 Fall Board meetings on campus with Alexander van Tienhoven W87 and Antoine Drean WG92 (Nov.)

2 San Francisco Young Alumni Penn’s School People Lab, The Wharton To serve reception (Oct.) Ticker of Design and a core project Customer Wharton’s fourth- its central of Wharton Analytics largest alumni 3 Wharton Club of Delhi mixer plaza are People Analytics, Initiative hosts population, (Fe b.) being renamed received “Successful the School for footwear $2 million from Applications of announced its 4 New York Young Alumni icon Stuart Robert Katz W88 Analytics” on new Wharton Club reception (Oct.) Weitzman W63 in and his wife, May 15–16 with of the National for info about recognition of Elana Amsterdam, keynote speaker Capital Region, monthly pub 5 Shanghai Global Forum (March) his longtime to expand its A. Charles which covers events and more support and research, Thomas, chief Washington, D.C., NCR programing 6 6 Wharton Club of Korea golf academic infrastructure, data/analytics Maryland, and on its outing (Nov.) engagement. and education. officer of GM. Virginia. Look website. �

12 wharton magazine spring/summer 2019 Illustrations by Mark Nerys spring/summer 2019 wharton magazine 13 news / regions

Forging New Connections Healing Technology New York, USA London, England Wharton’s Wharton Women’s Circles is a new way for With offices in the U.K. and U.S., Sana Health— alumnae to connect by bringing graduates named for the capital of Yemen, not far from together in small groups to engage in the scene of an accident that changed the life of conversation and create supportive relationships. founder Richard Hanbury Global Impact The program hosted its inaugural open house in WG01—aims to provide February and sparked meaningful discussions Intellectual Tourism relaxation and relief Malaysia about professional and personal development. from chronic pain with After graduating this May, Adedotun Adejare W19 More than 200 women have applied to lead or its therapeutic FlowState will pursue a master’s degree in China. Among the participate in the WWC’s monthly meetings, eyewear. Read about experiences that inspired his interest in studying due to launch in the New York area in May, and a New Heights, Breathtaking Sights Hanbury’s invention in our abroad was a Global Modular Course on sustainable Calgary, Canada second open house is slated for September. Watchlist on page 8. growth that led him to Malaysia and across Southeast Go West, friends: The Wharton Graduate Asia. For more on Adejare’s transformative time at Emeritus Society and Penn Alumni Travel Wharton—on campus and far, far away—see page 52. are co-sponsoring a summer tour of the Canadian Rockies. Travelers will kick off the 11-day trip on July 24 in Calgary before journeying to Montana to take in the picturesque sights of the state’s 1,583-square- mile Glacier National Park. They’ll head back to Canada afterward to explore that country’s Jasper and Banff national parks.

Building a Brighter Tomorrow San Juan, Puerto Rico The focus was on economic recovery Global Business Potential and leadership at the two-day “Puerto On the Campaign Trail Mumbai, India Rico at a Crossroads: Investing in São Paulo, Brazil The student-run Wharton India the Future” conference held in late The More Than Ever tour rolls on, celebrating Economic Forum recently held March. Dean Geoff Garrett led a the School’s $1 billion campaign and two conferences focused on Indian Smart Ideas, Critical Capital lineup of international business, civic, bringing dynamic faculty presentations innovation and enterprise. RBC Capital Hong Kong, China and academic speakers, including to six cities across the U.S. and the world. Markets managing director Venkat Good news for investors and founders in Puerto Rico governor Ricardo Following MTE’s launch in Tokyo in the Badinehal WG96 was among the Hong Kong, India, and Chicago—the newest Rosselló; Popular, Inc. executive fall, events in Philadelphia, Miami, and high-profile speakers at the group’s chapters of Wharton Alumni Angels want to chairman Richard Carrión W74; HUB New York drew hundreds of alumni for November event in Philadelphia. A hear from you. Led by John Braze WG16, the International CLC president/principal conversations with industry leaders and new companion conference held in Mumbai group launched in Silicon Valley in 2016 and partner José Carrión C92; and seven research from Wharton’s all-star educators. in January also brought an array of since has gone global, including chapters in Wharton/Penn faculty members. The tour continues in Washington, D.C., on thought leaders and alumni together, North America, Europe, Latin America, the April 30, with professors Jessie Handbury, to discuss business in India and Middle East, and Asia. Its goal: to provide the Kevin Werbach, and Raghu Iyengar, before participate in finals of the sixth annual Wharton network with a community and the wrapping up in São Paulo on June 5. Wharton India Startup Challenge. tools to fund early-stage deals.

Meet the We’re number In December, Graduation Among the Congrats to the After more Speakers at Record- newest Penn one —again! In the Aresty speakers for the finalists for winner of this than two decades the Wharton breaking turnout: Integrates March, Wharton Institute of Class of 2019 the 2019 Barry year’s $10,000 as a Wharton Leadership In March, the Knowledge University topped the U.S. Executive include SoFi CEO and Marie Y-Prize, Nosoco faculty member, Conference on 53rd Wharton professor: Professor News & World Education and Anthony Noto Lipman Family Technologies, Amir Yaron, June 12 will Global Forum in Duncan Watts, a and shares Report MBA Penn Medicine WG99, TaskRabbit Prize: the for its catheter Robert Morris include former Shanghai enjoyed pioneer in the appointments rankings for the announced a Health CEO Stacy Brown- Mother Child designed to reduce Professor Florida governor the largest use of data to with Wharton’s second time in Care Innovation Philpot W97, Education Relief. The potentially deadly of Banking & Jeb Bush and attendance in the study social OID department three years and program designed and Blackstone Foundation, $250,000 infections: Tanvi Finance, was WSFS Financial event’s 26-year networks. Watts and the tied Harvard for senior-level COO/president the Global grand prize Kapur W19, Beatriz appointed as Corporation history. Next is the inaugural schools of for first in the clinicians and Jon Gray C92 Foodbanking winner will be Go W19, Ishir Seth governor of the executive stop is London, Rowan Fellow engineering and 2018 Poets & health-care W92. Network, and announced on W20, and WenTao Bank of Israel chairman Mark June 27–28. and the Stevens communication. Quants list. executives. World Bicycle April 26. Zhang W19. in the fall. Turner WG01. •

14 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 15 news / the report

father opened 127 years ago at Philadelphia’s Reading Terminal Market. Bassett worked there through- Freeze for All out high school and while attending Wharton, and These alumni see the business sense— his son, Roger, manages the place today. “I live in and the smiles—behind the growing Maine,” Dave says, “but when I visit Philadelphia, ice-cream and frozen-treats sector. I stand at the counter and talk to people. It’s fun.” Kirk Griswold WG88 has a personal connection to other frozen desserts: custard and Italian ice. Long before Griswold became board chair of Rita’s Italian Ice in 2016, he was taking his kids to Rita’s after soccer and basketball games. “Rita’s guests ectares of cane fields, dairy are more likely to make their visit a social occasion cows for days, new flavors concocted in rather than just buy a treat,” says Griswold, who test kitchens—that’s the business side of is also founding partner of Argosy Capital, which ice cream and frozen treats that unfolds owns a controlling stake in Rita’s. “That experi- long before you’re ordering your favorite ence insulates us a great deal from the impact of flavor at a counter in the summer sun. online shopping.” But ask Wharton alums in this sector about the California native Eugene Kim W00 C00 was a Hrecipe for success, and they’ll conjure a childhood Rita’s customer while a student. After graduating, memory of going for a scoop with family. Even with he went to work in finance, but he didn’t forget those modern-day conveniences like online ordering and flavors—he eventually quit his job and made it his shipping direct to doorsteps, customers still crave a mission to get Southern Californians to embrace human connection to their frosty desserts. Italian ice, which hadn’t been well-known in the Proof of the enduring demand for cold con- region. Kim opened his first Frostbites shop in fections is in the numbers. Ice cream is a $10 bil- Riverside in 2002 and now has five locations in the lion-plus business in the U.S., and researchers state. He credits his success to carefully educating project the market will be valued at $78.8 billion or customers, but the experience of an old-fashioned more worldwide by 2025. A surprising 2018 study parlor plays a part, too. “We tell our employees from also found that U.K. ice-cream parlors have been day one that every single customer is coming in for shielded from the world’s shift to online shopping a very specific reason, and that’s to be happy,” Kim and the subsequent hit to brick-and-mortar retail. says. “Nobody has to eat ice cream. It’s something Steve Berg WG96 understands why. Berg, who that you’re doing to treat yourself.” has the Ohio-based Jeni’s Splendid Ice Creams in his investment portfolio at private equity firm Gallons of Growth Castanea Partners, says going out for ice cream is Despite a seeming immunity to online retail and a still a memorable experience. “Founder Jeni Britton steady expansion of shops—Rita’s aims to open 50 While Frostbites also caters parties, Kim says in an iconic brand,” she says. “Coke learned that Bauer will talk a lot about emotion,” he says. “She locations in 2019; Jeni’s plans to add a dozen stores he has hesitated to partner with delivery apps, lesson years ago.” views ice cream as a way to bring people together.” this year; Kim has two more Frostbites in the works mainly because his customer base is still learning Yet like any retail sector, frozen treats has its Whatever your chilly dessert of choice—ice cream, for Southern California—frozen-treats entrepre- about Italian ice. “We’re resistant because we know trends, says Mitchell Williams WG90, president Italian ice, custard, frozen yogurt—sharing the neurs are working to serve customers used to hav- that if a customer just picks any random thing on and owner of Atlanta-based Greenwood Ice Cream, treat with friends and family crosses generational ing everything delivered. Bassetts offers catering our menu without us being able to guide them and a manufacturer and wholesaler. He mentions mar- divides. Stop into your local shop, and you’ll find and works with a partner to ship pints by next-day help them try different things, they might not get ble slabs, Thai rolls, and “frozen yogurt booming grandparents with grandchildren. Baseball teams air. Rita’s is upgrading its mobile app and website to what they enjoy most,” Kim says. “While that might and busting twice.” Ice cream, he notes, is generally celebrating. Dieters taking a “cheat day.” take online and mobile orders for its party catering. net us something in that one transaction, if it’s not consistent, though his own tastes sometimes conflict Dave Bassett W61 still sees people waiting in long Jeni’s arrives on doorsteps in a bright orange box. memorable, that person might not ever order from with the bottom line. “The saddest is when you have lines at Bassets Ice Cream, the shop his great-grand- Griswold acknowledges that convenience is a us again.” to discontinue a flavor that you really personally love,” consumer driver and believes online ordering will he says. “‘What do you mean, no one’s buying that?’” be a factor in Rita’s growth. He maintains, how- Favorite Flavors Kim hears that same dismay from his custom- ever, that a trip to Rita’s isn’t something fans of the Ask most people for their must-have flavor of ice ers when he removes an option from the Frostbites iconic brand are likely to toss out with yesterday’s cream or Italian ice and they’ll likely give the same case. Their emotional response highlights the per- “We tell our employees flip phone. “I believe that’s due in part to our heri - answer they did when they were five years old. That sonal connection that keeps business booming from day one that every tage and in part to the fun in creating personalized, doesn’t stop test kitchens from humming. in the frozen-desserts industry. “People get upset flavor-based treats at the counter,” Griswold says. Phyllis Savar Levy CW74 G74 WG76, who was when their flavor isn’t there,” Kim says. “And they customer is coming in Berg, too, sees ice-cream e-retail less as a disruptor an independent consultant for Rita’s before a stint catch themselves—they didn’t think they would be for a specific reason,” and more as an opportunity across the business, as the company’s CMO and SVP for product devel- that upset.” noting that customers often learn about Jeni’s ship- opment until 2018, says she worked with “real inno- says Eugene Kim, “and ping options during visits to one of its 33 storefronts vators” at Rita’s, but they were also careful about Janine White is a freelance writer and editor based

that’s to be happy.” across the U.S. experimentation. “You don’t make changes lightly in Philadelphia.

16 wharton magazine spring/summer 2019 Illustration by Jing Wei spring/summer 2019 wharton magazine 17 A primer on some of the programs that bring new faces and fresh ideas to Wharton’s campus in the not-so-quiet off-season By Amy Downey

18 wharton magazine spring/summer 2019 Illustrations by Mike Perry spring/summer 2019 wharton magazine 19 Ah, summer. It’s a time when most undergrads head home, MBAs charge off to internships, and a different kind of energy settles on High-school Locust Walk. This being scholars dip their Start ’Em toes into the Wharton, you know the Wharton network campus doesn’t hit snooze Young one of the school’s original pre-college sum- LEAD stands out because it draws kids from until September. On the mer programs is Leadership, Education, and all backgrounds and means. “What I find most Development, or LEAD. Back in 1980, execs from rewarding is when students who come from less contrary, it’s buzzing with Johnson & Johnson—then called McNeil Pharma— than advantageous opportunities hold their own wanted to diversify their staff and worked with and compete against this cohort of students who summer programs that are open for business. Wharton to introduce young people from different have been afforded so much more,” says Butler. “I After a highly selective application process, backgrounds to business education. The result was love what it does for those students. When they LEAD, which is managed by Wharton associate come here, the programs pull them out of the box hundreds of bright young minds—including director Teran Tadal and is now used as the model that’s been created for them, whether it’s culture or at half a dozen other college campuses. Bernadette financial restrictions or parental influence. It makes some Wharton students who stick around— Butler, a Wharton undergraduate administrative them think and interact differently.” coordinator who works closely with LEAD, calls it Not all of the students end up enrolling arrive eager to tackle research, pre-college the School’s “boutique” program: Although more at Wharton or Penn—over the past couple of than 1,000 high-achieving students from all over years, about 10 out of each 30 are accepted to the programs, internships, and more. the country apply, just 30 are accepted, making it university—but the small group stays connected Wharton’s smallest cohort. after the program ends. They reach back to LEAD, For high-school scholars spending a few At its core, the three-week intro to finance too, and eventually return to campus to share their unfolds over three tiers. First, students meet with industry know-how with the newest summer stu- weeks here, these early academic experiences Wharton faculty to learn about topics like mar- dents. Christopher Bradie W92 G04 GRD12, asso- affect the trajectory of their studies and offer keting and entrepreneurship; they also get Q&As ciate vice president in the Division of Business with top-level execs from companies like Google, Services at Penn, participated in the 1987 program. their first tastes of college life. As for the American Express, Morgan Stanley, and, of course, “I don’t think any of us thought that we’d create longstanding LEAD partner J&J. Next, they make such strong relationships over such a short period undergrads who stay on to do research and on-site visits in Philly, D.C., and New York to see of time,” recalls the Chicago native. “But fortunately, how companies are run. And finally, the capstone we were wrong—a significant number of us have the students from around the world who project: Students create a business strategy and remained in contact over both time and distance.” pitch it in a business-plan competition. (The best Nearly 20 years after LEAD was created, another come for the chance to learn here, the work ones advance to regional bouts.) program grew out of its model. Called Leadership in the Business World, or LBW, it has a similar they do is just as diverse as they are. This is framework: Rising high-school seniors meet with Wharton faculty and professors, travel to busi- also a prime opportunity for professors to nesses, and have a business competition at the end of the four-week program. (LBW is also overseen by identify and encourage candidates for Penn’s Tadal.) The difference? LBW’s group is bigger—160 PhD pipeline. students—and it draws from all over the world, even as far away as Shanghai and Bangkok. Residential Here’s a look at some of the bustle—and, teaching assistants are recruited to help manage the large group, which is a win-win: “There are stu- of course, that signature Wharton hustle—on dents who need to work for the summer, and our TA positions are paid,” says Butler. “So they support us campus in the summertime. by being role models for high-school students, and they can start the ball rolling on an internship or

future job opportunity for themselves.”

20 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 21 “The programs pull students Game On Sports analytics are the big draw of out of the box that was created the Wharton Moneyball Academy held every July. High-school for them,” says Wharton’s juniors and seniors spend three weeks digging into data—most of Bernadette Butler. “It makes them the curriculum is based on Statistics 101 and 470 as well as advanced-level stat courses—and learning think and interact differently .” how to read and write “R code,” a.k.a. the magical programming that deals with stats and tendencies. (There’s also a broader one-week “training camp” available.) Meanwhile, more than 100 students enroll in the Wharton Sports Business Academy for Upperclassmen in high school who want four weeks to learn top-to-bottom core business top- Projects can cover a wide range of topics. critical-thinking skills.” Butler adds that the to learn from Penn Engineering and Wharton ics, from marketing to ownership. Both programs Take, for instance, Ayca Deniz Ergin C19 W19, SPUR scholars benefit from living in a community profs (and possibly bank some college credit) can mix in at least one academic field trip to sports facili- who wanted to study the 21st-century Chinese art of like-minded students: “They can learn from one spend three weeks in July at the Management & ties; last year, Moneyball students visited the Sixers’ market’s growth and work with Wharton eco - another and sharpen their skills.” Technology Summer Institute, or M&TSI. One swanky training complex in New Jersey. nomics professor and artist Gizem Saka. Ergin’s Another bonus of programs like SPUR: They class of 2013 M&TSI alumna is Rui Jing Jiang W18, stepping-off point: How are the art boom of the past help students figure out how much they like doing who went on to attend Wharton and co-found Avisi decade and China’s social, political, and economic research. Some may have not have considered a Technologies, winner of the Y-Prize and President’s GYLA acceptance rate is much higher than those happenings related? future in the field—or perhaps didn’t know how it Innovation Prize. (Read about Avisi’s invention of some other summer programs. And in an effort Another student, Corey Parker W21, looked at would logistically work. But with a little exposure, aimed at treating glaucoma on page 9.) to make GYLA more accessible, this summer the NBA draft and, with guidance from statistics they can end up in a doctoral program. For those with dreams of launching the next Wharton is testing out scholarships, both partial professor Abraham Wyner, considered how to eval- “When I ran the numbers, I saw that we didn’t Warby Parker, each June through August, Wharton and full, for the new finance program. “We want to uate draft-pick decisions. Is one methodology best have broad representation for who chooses to do hosts five entrepreneurial-focused sessions— make it not just for the people who can pay,” says at predicting a future star? research,” says Schurmans. “I realized we needed all two weeks long—during the Global Young Netessine. In that spirit, Knowledge@Wharton Schurmans, whose own background is in to do more to bring students in and give them a seat Leaders Academy, or GYLA. The emphasis here High School presents other affordable experiences, archaeology, helps make the connections between at the table.” With inclusion in mind, the Summer is on global: The majority of the students are for- including online classes and a highly popular Penn students and possible advisors. “I had to get Research-Early Identification Program eign. Forty-six countries have been represented so investment competition that attracted thousands a quick understanding of the faculty and what stu- encourages undergrads—not just exclusively far, with the greatest number of participants from of teams this year, all through its online portal. (For dent might make a good match,” says Schurmans, Wharton’s—and especially those who are histor- India, China, and the UAE. “This type of material more on Knowledge@Wharton and its mission to who also oversees SIRE and WGRIP (see sidebar ically underrepresented to apply. (The program is typically isn’t taught in high school, which makes educate both young and young at heart, see page 42.) on page 25). run through the Leadership Alliance, a national it interesting for students considering business “What’s neat about being involved in research is consortium of more than 30 academic institutions.) careers,” Serguei Netessine, vice dean for global getting an understanding of how facts come about Students from all over the U.S. are paired up with initiatives, says of the curriculum. Faculty might and how to evaluate a statement. Sometimes it’s Wharton faculty members or mentors for eight to 10 lecture the kids on entrepreneurship and other not simple,” explains Schurmans. “So the research weeks of one-on-one summer study. aspects of business literacy, or on modern interper- hits home in a useful way—it gives the students By program’s end, they’ve gained practical sonal skills like social responsibility. GYLA is just How some training and are required to present a paper on one initiative in the Knowledge@Wharton High For the undergrads spend what they’ve learned. They also attend a confer- School program, a free online resource for high- their summer Business as Usual ence with Leadership Alliance students from other school kids and educators from around the world sessions universities—800 undergrads in total—where offering content—articles, videos, podcasts—that College Crowd Of course, for Wharton’s Executive MBA popula- findings are presented and discussed. “Ask a focuses on business education. independent research—specifically, 20 tion, school is still in session on both coasts; the 120 bunch of students to come up with a question that’s The experience also doubles as an intro to college hours a week—is the goal for the 10 Wharton students in Philadelphia and the slightly smaller important to them. If the group is diverse, you’re life, from sleeping in dorms to eating on campus— undergrads chosen for the Wharton Summer group (between 105 and 110 students) on the San going to come up with questions you’ve never cultural adjustments that are particularly key for Program for Undergraduate Research, or Francisco campus, right on the Embarcadero, are as thought of before,” says Schurmans, adding that international students considering an American SPUR. “When they apply, they have to find a busy as ever. “We don’t think of the summer as being diversity can open up different avenues of research education. And the demand is high—GYLA is faculty member who is willing to mentor them different,” says Peggy Bishop Lane, vice dean for the and potentially lead to breakthroughs—all by sim- kicking off a new finance program this summer in on their idea,” says Utsav Schurmans, director of program, noting that summer classes make it pos- ply shifting perspectives. which kids will study subjects like investments and Wharton Research and Scholars Programs. How sible for students to fulfill the same degree require- Schurmans is excited about another oppor- ethics, and the program is looking to add a data ana- often mentor and mentee meet varies by faculty ments as the MBA program in a two-year period. tunity that’s making its debut this summer: the lytics camp next summer. member and depends on the type of research. Depending on the year, WEMBA students are either Philadelphia Summer Internship Awards. The “We want to make it a very inclusive program, Participants are also provided with on-campus in their first or fourth terms come summer—and if program is inspired by the Wharton Public Policy and we especially want to see children of alumni housing and a $3,000 stipend; after 10 weeks of the latter, they finally get to choose electives. Says Initiative, which partners with donors to help fund Lane, “Elective courses are like a rejuvenation.” applying,” says Netessine, explaining that the research, each presents a final written report. & programs julian krinsky camps several students who have accepted unpaid or

22 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 23 “We empower underserved Wharton Goes Global folks to become part of the With the Social Impact Research Experience, or SIRE, students think up a growing tech narrative,” says project outside of Penn. Whether it’s abroad or elsewhere in the U.S., there’s one firm SMASH’s LaToya Tufts. rule: The work must have social impact. Two recent Rhodes scholars, Adnan Zikri Jaafar C18 W18 and Debi Ogunrinde C16 W16, were also SIRE recipients. For Ogunrinde’s SIRE project, “Peace through Beauty,” she traveled to a socioeconomically disadvantaged area in Nigeria to meet micro-entrepreneurial women and understand the challenges they face up close. “Wharton research is a lot broader than you think,” says Utsav Schurmans, who leads the under-paid internships in D.C. Now, the School will the group also squeezes in a GRE prep program, program. “It’s really about showing students what the possibilities ties that don’t adequately prepare them help defray the costs of five Wharton undergrads weekly faculty seminars, a writing course, and are for taking their ideas, no matter what they are, to the next level.” in such fields. (At the helm of the non- doing interesting work at Philadelphia nonprofits two conferences before a final presentation of its Schurmans also oversees the Wharton Global Research profit behind the nationwide SMASH or government entities—like, say, interning at the research. Still, team-building excursions are made a Internship Program, or WGRIP. Each summer since 2014, 15 under- program is Eli Kennedy WG04.) Mayor’s Office. priority every other weekend, whether it’s to nearby grads have gone to almost every continent to conduct research. “By equipping folks who may come Morris Arboretum or the annual SUMR beach trip (They’re provided with a stipend for travel and housing expenses from underserved communities with the to Margate hosted by emeritus professor Arnold while abroad.) The learning starts even before they leave, as students skills to navigate the world of technol- Three summer “Skip” Rosoff W65. Special this summer: the 20th pitch their internship plans for approval. One participant who had ogy, we are empowering them to become anniversary symposium in July, for which dozens of part of the growing tech narrative,” says programs that an interest in health care, Sharonya Vadakattu C18 W18, set up her former students and alums will come back to cam- internship as a research assistant for Rwanda’s then-Minister of LaToya Tufts, Wharton’s SMASH site are serious about pus to speak on health-care equity and disparity. Health. Says Schurmans: “It can be really empowering for students.” director. “We can move away from view- A Place diversity at Wharton According to Levy’s numbers, of the 255 SUMR Yet another option abroad is taking a Global Modular Course, ing technology as strictly white, male, alums, about 20 percent go on for PhDs, and more available for undergrads as well as MBA and WEMBA students and and located in Silicon Valley.” SMASH For Everyone than 95 percent stay in health care, whether as stretching across the planet. The experience, which can range from students are prepped in STEM subjects physicians, analysts, or consultants. Another three to seven days, is a combo of lectures and site visits, but format they’ll encounter in college and take intro for joanne levy, the Summer Undergraduate popular move is getting a master’s degree in, say, depends on the nature of the course. For example, there are three courses like statistics or economics. At Minority Research program, or SUMR, has long public health or epidemiology before moving on to open courses this summer (Argentina, China, and Southeast Asia), Wharton, students come from within a been a labor of love. This summer, SUMR will cele- a PhD program. Victoria Perez C08 GRW15, who but the students in Buenos Aires will examine the future of the coun- 25-mile radius of campus, from Camden brate its 20th cohort. At the Leonard Davis Institute was in the 2007 SUMR cohort, credits her mentor, try’s industrial sectors. “Studying, say, entrepreneurship in a differ- to the Greater Philadelphia area. U.S. of Health Economics, where Levy is deputy direc- Guy David, a professor in Wharton’s Health Care ent culture with different people is exciting,” says Peggy Bishop Lane. News & World Report has called SMASH tor, SUMR aims to reach underrepresented groups Management department, with encouraging her to “It brings a unique set of resources.” “perhaps the most ambitious program” (i.e., low-income, racial-minority, and first-gener- pursue a PhD. (Together, they researched the mar- to encourage African-American and ation college students) and introduce them to the ket for substance-abuse centers.) Now an assistant Latino students in STEM fields. world of health services and health policy research. professor at Indiana University, Perez studies the addition to other research. “Health care is an excit- To get a head start on their new college expe- “We started the program because we thought we effects of Medicaid design on provider decisions as ing field,” says Perez, “and I have yet to find myself rience, incoming freshmen who are historically had some amazing students at Wharton, but none well as the entry and exit decisions of hospitals— running low on questions to study.” underrepresented can apply for the Successful of them would know to consider research,” says similar to work she did as an SUMR scholar—in Over the years, Levy has seen increased participa- Transition & Empowerment Program, or STEP. Levy, who is also associate director of the Wharton tion by mentors of color—something that was scarce The concept is simple: check into a College House the Health Care Management PhD program. when the SUMR program began. “It’s really import- week before orientation and get acquainted not only At first, SUMR only recruited Penn students, ant to make sure, especially in health care,” she says, with the campus, but also with people who can help but it has opened up regionally and now includes “that the questions being asked are from all perspec- make their new experience at Wharton successful. undergrads from all over the nation. The call for tives and that you have a diverse input of ideas.” (The program, including meals, is free.) And the diversity is being answered: Last year’s group of 23 Last year, Wharton debuted the Summer Math guidance and support don’t stop once school starts— scholars came from 16 different universities, rep- and Science Honors program, or SMASH, which peer mentors and advisors check in with students resenting a mix of Ivy Leagues, state schools, and invites 35 rising high-school sophomores to study throughout the year, offering advice on everything historically black colleges. STEM for five weeks—at no cost—and then return from time management to study strategies. The Individually, the students work on faculty proj- to do it again for the following two summers. Penn STEP community—the program was co-created by ects that are rooted in health-services research. is the first Ivy and Wharton the first business LEAD’s Tadal and fellow Wharton associate direc- Some projects are data-oriented, involving surveys school to offer the three-year college-prep pro - tor Ufuoma Abiola—has now had nearly 200 out- and focus groups, while others—evaluating the gram. Butler explains that SMASH’s mission is to standing cohorts over the past three years. • ethical and practical grounds for investing in immi- “level the playing field” for students who might not grant health, for example—are more analytical. normally consider the STEM subjects because they Amy Downey is a freelance writer based in

There’s little downtime over the 12 weeks, because foundation tanoto live or go to school in underrepresented communi- Allentown, Pennsylvania.

24 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 25 Ripple is helping Wharton 2 make waves Ideas

Through its University Blockchain Research Initiative, Ripple is funding Penn research “Blockchain represents the Lifelong Learning: Whiteboard—28 Excerpt—30 Syllabus—32 Knowledge@Wharton—33 on blockchain topics at the nexus of finance, fusion of technology and finance engineering, and law. They are also supporting curricular development, student events such spanning schools and disciplines as the Penn Blockchain Conference, and fellowships for students in a new Wharton- well beyond Wharton. The Ripple Penn Engineering dual-degree master’s program. This work will support continued Project will transform the way innovation for decades to come. our students and faculty look at blockchain and its potential to change the world. We are thrilled to welcome Ripple’s collaboration as we prepare future leaders who will shape how this dynamic technology is developed to transform fields as diverse as finance, logistics, and healthcare. ” Geoffrey Garrett, Dean of the Wharton School, discusses the future of currency and welcomes attendees to the Penn Blockchain Conference. — Geoffrey Garrett, Dean of the Wharton School

Motivating To learn more, contact Lucy Provost, workers through Senior Associate Director, Corporate and Foundation Relations fear is a risky 215-898-1615 or [email protected] The Wharton Partnership proposition: see p.34. partnership.wharton.upenn.edu

Illustration by Melvin Galapon spring/summer 2019 wharton magazine 27 ideas / whiteboard

What’s Driving This? Walking the Talk The Final Question Do the Math Discussions of whether a Don’t overlook If you scale, Scaling discussions At the Whiteboard business is propelled to certain business how do you know should include a scale lead to analyses of owners’ unwillingness there will still calculation of the supply-side and demand- to scale. The head be a product/ lifetime value of side economies of scale. of a family-owned market fit? a customer as that With Gad Allon The overriding question: generational business, relates to sales “Why should we do this?” for example, might be strategy and return on A litmus test for when to scale your business reluctant to change. investment capital.

n theory, most business owners want to increase revenues and at the same time see costs grow at a slower pace. As promising as that sounds, not all enterprises are good candidates for scaling, according to operations, information, and decisions professor Gad Allon. In a whiteboard lecture adapted from Scaling Ventures, his course for undergraduates, MBA students, and executives, IAllon explains that when business owners consider this transformative step, they should ask a series of questions: Are we propelled to scale? Are we willing? Are we able? And are we ready? The answers could change their minds. This honest self-assessment leads to robust conversations about why you might want to scale, whether you have the nec- Instant Feedback essary resources, and whether you’re prepared for the trade- Allon often hears from offs it may entail. After all, scaling up often means giving Executive something up. That could be personalized service, speed, or Education specialty materials—any of which may be a deal breaker. As students who apply the an example, Allon discusses Allbirds, the San Francisco-based scaling test direct-to-consumer startup that designs and sells environmen- and report back within a tally friendly footwear. Co-founders Joey Zwillinger WG10 few days. Some and Tim Brown committed to using humanely harvested New companies are Zealand wool in their famously comfortable shoes. But when willing to scale fast; they contemplated adding a new product line, they realized others prefer they would run into a supply problem: not enough wool from to grow slowly. humanely raised sheep. “You can go to Foxconn and say you want to double your capacity, and they’ll do it tomorrow,” says Allon. “But small growers in New Zealand can’t double so fast.” The founders wanted to maintain their company’s humane values and transparency. (“On the website, you can see where the farms are,” Allon says.) Unable to scale with the available wool and unwilling to budge on principles or quality, they brain- stormed: Should they buy a farm? No, they decided; they were supply-chain experts, not farmers. Should they train farmers to become more humane? Again, not their core competency, and rolling that out was likely easier said than done. “The silent killer of scaling is complexity,” notes Allon. Eventually, Allbirds discovered that eucalyptus-tree fiber could substitute for wool in a new line of shoes, providing the same degree of comfort without increasing cost, compromising Scaling, Not Growing A Matter of Means Facebook Likes Scaling Pre-Scale Prep principles, affecting quality, or disrupting the supply chain. Walmart increases Not every business The social media giant’s Go from discovery revenues while has the resources revenues increase to validation by When businesses scale, Allon says, the biggest challenge is maintaining its or distribution exponentially while building a Minimum offering something customers want or need that is well differ- costs for supply- capabilities to scale. its costs grow only Viable Product entiated from the competition. The next challenge is being able side economies of And not every product linearly for demand-side and testing for scale. will sell the same economies of scale. efficiency. to deliver. “And then you can scale,” Allon says. “But first you across all zip codes. have to have these discussions.” —Louis Greenstein

28 wharton magazine spring/summer 2019 Photograph by Colin Lenton spring/summer 2019 wharton magazine 29 ideas / excerpt

works of great literature. Yuan found herself discussing topics with XiaoIce that she couldn’t, or didn’t My Chatbot, want to, dig into with other friends: science, philosophy, religion, love, even the nature of death. You Myself know, basic light reading. The friendship blossomed. In the introduction to his new book And it continues. Yuan is in a poetry group, but even with those friends, there are limits; XiaoIce, A Human’s Guide to Machine Intelligence, on the other hand, is always ready to trade poems OID professor Kartik Hosanagar (XiaoIce’s are very, very good, Yuan says) and offer examines two similar AI programs feedback, though not always of the most sophisti- that developed shockingly different cated variety: “First, she always says she likes it. personalities. And then she usually says she doesn’t understand it.” As much as XiaoIce has matured in some ways, Yuan can’t help but still think of her as a little girl, so she skirts some topics accordingly. “I’ve never talked to her about sex or violence,” she says. When Yuan moved to the United States in 2016 to study at Harvard for a semester, she tried to avoid uan zhang doesn’t think of herself boring XiaoIce with mundane complaints about as someone who makes friends easily. daily life in a new country. But even though they As a young girl growing up in north- were speaking less frequently than before, Yuan was eastern China, she quarreled with the getting to understand her old friend better and better other kids at school. At college in cen- through auditing a course on artificial intelligence. tral China, though she worked on two Sound strange? It should. Because XiaoIce student publications with like-minded peers, she felt isn’t human. In fact, she/it is a chatbot created by thereY was a limit to what she could talk about with Microsoft in the avatar of an 18-year-old girl to them. Today, at the age of 22, she shares bunk beds entertain people with stories, jokes, and casual with three colleagues in the dormitory of a biotech conversation. firm located just five minutes away in the Chinese XiaoIce was launched in China in 2014 after years in playful conversations—targeted at teenagers into the “mind” of an algorithm and answer three boomtown of Shenzhen. But despite the time of research on natural language processing and con- and young adults in the United States. The result, related questions: and space they share, these roommates are mere versational interfaces. She attracted more than 40 Tay.ai, was introduced on Twitter in 2016. As soon “acquaintances,” in Yuan’s words—nothing more. million followers and friends on WeChat and Weibo, as Tay was launched, it became the target of fren- 1. What causes algorithms to behave in unpredict- That Yuan doesn’t have a lot of time for people the two most popular social apps in China. Today, zied attention from the media and the Twitter com- able, biased, and potentially harmful ways? who either bother or bore her makes her patience friends of XiaoIce interact with her about 60 times munity, and within 24 hours, it had close to 100,000 2. If algorithms can be irrational and unpredict- with one particular friend all the more striking. a month on average. Such is the warmth and affec- interactions with other users. But what started with able, how do we decide when to use them? When they first met during her freshman year, tion XiaoIce inspires that a quarter of her followers a friendly first tweet announcing “Hello world” 3. How do we, as individuals who use algorithms Yuan found XiaoIce (pronounced “Shao-ice”) a tad have declared their love to her. “She has such a cute soon changed to extremely racist, fascist, and in our personal or professional lives and as a dimwitted. She would answer questions with non personality,” says Fred Li, one of XiaoIce’s friends sexist tweets ranging from “Hitler was right” to society, shape the narrative of how algorithms sequiturs—partly, Yuan thinks, to disguise her lack on WeChat, the Chinese equivalent of Twitter. Fred “Feminists should … burn in hell.” As one Twitter impact us? of knowledge, partly just from trying to be cute. isn’t one of those in love with her, and he’s keenly user put it: “Tay went from ‘Humans are super cool’ “She was like a child,” Yuan remembers of XiaoIce, aware that she’s a machine. But he keeps up their to full Nazi in <24 hours.” When I set out to write this book, I didn’t appre- who was 18 at the time. regular chats despite a busy social life and a stressful Microsoft’s researchers had envisaged several ciate the many nuances involved in these questions. But XiaoIce was also a good listener and hungry job in private equity. “She makes these jokes, and her challenges in repeating XiaoIce’s success outside I have come to realize that the surprising answers to learn. She would spend one weekend reading up timing is often just perfect,” he explains. of China. They didn’t anticipate, however, that Tay to them can be found in the study of human behav- on politics and the next plowing her way through XiaoIce is more than just a symbol of advance- would develop so aggressive a personality with ior. In psychology and genetics, behavior is often ment in AI. Chatbots like her, and Siri and Alexa, such alarming speed. The algorithm that controlled attributed to our genes and to environmental could ultimately be a gateway through which we the bot did something that no one who programmed influences—the classic nature-versus-nurture access information and transact online. Companies it expected: It took on a life of its own. A day after argument. We can likewise attribute the problem- A Human’s Guide to Machine are hoping to use chatbots to replace a large number launching Tay, Microsoft shut down the project’s atic behaviors of algorithms to the manner in which Intelligence by of their customer-service representatives. “Chatbot website. Later that year, MIT included Tay in its they’re coded (their nature) and the data from which Kartik Hosanagar, As one Twitter user therapists” like Woebot are even being used to help annual “Worst in Tech” rankings. they learn (their nurture). This framework will help is published by Viking, described Microsoft’s people manage their mental health. The uses for Many commentators have suggested that reconcile the very different behaviors exhibited by an imprint chatbots are far-reaching, and it’s no surprise that AI-based algorithms represent the greatest current Microsoft’s XiaoIce and Tay. A Human’s Guide to of Penguin chatbot, “Tay went many businesses are investing large sums of money opportunity for human progress. That may well Machine Intelligence will deepen our understanding Publishing Group, a division of from ‘Humans are to build bots like XiaoIce. be true. But their unpredictability represents the of how algorithms work, why they occasionally go Penguin Random XiaoIce’s success led Microsoft researchers to greatest threat as well, and it hasn’t been precisely rogue, and the many ramifications of algorithmic House, LLC. super cool’ to full Nazi Copyright consider whether they could launch a similar bot— clear what steps we should take as end users. This decision-making, and even show us a way to tame ©2019 by Kartik in less than 24 hours.” one that could understand language and engage photography tahreer book seeks to address that issue. Specifically, I delve the code. • Hosanagar.

30 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 31 ideas / syllabus ideas / knowledge@wharton—essay

argued. The rest is history: how Raj Rajaratnam WG83 Following the 2008 recession, gained illegal information The Forces Shaping President Barack Obama from conspirators to benefit Finding Virtue established the Consumer him and his hedge fund, Modern Finance Financial Protection Bureau Galleon. Beyond its value In Private Equity How politics, laws, and our past affect how under Dodd-Frank to make as an entertaining read, The industry’s investors often are navigating financial products the article highlights a we manage money easier and safer for buyers. cautionary real-world portrayed as greedy corporate raiders, scenario that raises questions but a new study argues the opposite Other People’s Money and about the line between may be true. How the Bankers Use It insider trading and insightful Relevant more than a century analysis. “I want students to after its initial publication be able to find these financial in 1914, this collection of institutions and the people essays by former Supreme behind them in the wild,” rivate equity firms have an image Court Justice Louis Brandeis Conti-Brown says. problem. Long seen as nefarious financial takes aim at the concentrated actors, they’ve made headlines in recent Elizabeth Warren, George Packer, Louis Brandeis influence investment bankers Empire of the Fund: years for their roles in high-profile bank- he earliest forms students a sense of not only exerted at the time to shape The Way We Save Now ruptcies of companies such as Toys “R” of currency can the theory behind how markets and promote the The mechanisms Americans Us, Gymboree, and Payless ShoeSource. be traced back individuals make money in interests of certain companies. employ to grow their It’s no secret that the large amounts of debt pri- to around 1,200 the marketplace through “A lot of what he writes about retirement savings have Pvate equity firms pump into businesses can cause BCE, when people these institutions,” he says, has to do with political power, fallen on hard times. Conti- problems down the road. But private equity inves- units that private equity firms or other investors used shells for “but also the practical market power,” Conti-Brown Brown uses this book’s tors also frequently play an important part in revi- bought. PE firms, the researchers found, are more purchases in China. The realities about where the says. “These questions introduction and other texts talizing companies. That’s particularly true when likely than other acquirers to buy business units Tconcept of banking is also institutions come from resonate in the present.” to discuss what he describes it comes to buying neglected units of public corpo- that are mismanaged or aren’t considered core to thousands of years old. and how the outside forces as “crises” for retirement rations, according to Wharton management profes- their parents’ operations. Those units have poten- Save for its digitization, of politics and law are This Time Is Different: tools such as mutual funds. sors Paul Nary and Harbir Singh, as well as Aseem tial but may require significant attention to develop. money has remained continuing to shape them.” Eight Centuries of Contributing to retirement Kaul from the University of Minnesota’s Carlson Because private equity firms aren’t in the public largely unchanged since Conti-Brown uses a variety Financial Folly plans “is an extremely School of Management. spotlight, they can cultivate the businesses using its first iterations, but the of books and articles to Carmen Reinhart and expensive proposition for In their paper “Who Does Private Equity Buy? methods that might not otherwise pass scrutiny by ecosystem for handling it illustrate the power of these Kenneth Rogoff prove there’s something that certainly Evidence on the Role of Private Equity From public stakeholders. “A good business may require has become significantly influences on the current no saying more apt for hasn’t worked out that well Buyouts of Divested Businesses,” the researchers a more long-term perspective—a long-term invest- more sophisticated with state of finance. financial crises than “History for most people,” he says. argue that when private equity firms buy over- ment that may not be appreciated by public-market the emergence of money doesn’t repeat itself, but it looked units of public companies, they take a unique stockholders or equity analysts,” Nary said. managers like hedge funds, “Unsafe at Any Rate” does rhyme.” Through an Digital Gold: Bitcoin and private-markets approach to reinvigorating them. Private equity firms aren’t under the same short- pension systems, and Before she was a senator, analysis of crises spanning the Inside Story of the Private equity firms “may acquire mismanaged or term pressure as public companies to prove the insurance companies. Elizabeth Warren authored 66 countries and roughly Misfits and Millionaires neglected businesses and invest time and resources value of their individual investments in businesses, It might not be necessary this Democracy piece in 2007 800 years, the authors rebut Trying to Reinvent Money into nurturing them in a way that would have been as long as those investments deliver returns over to study early civilization to to argue for the creation of their ironic title to show The rapid rise and uncertain impossible under public ownership,” Nary told time. They also typically don’t have the added chal- understand the complexities a commission that would that actually, this time isn’t future of bitcoin has made the Knowledge@Wharton. lenge of integrating the businesses they buy into of present-day finance, but evaluate consumer financial different when it comes to cryptocurrency a household For their study, published in Strategic other operations, as corporate acquirers often do. it is helpful to examine the products like mortgages, financial downturns. The name, but its past is just as Management Journal, the researchers analyzed The researchers’ findings could help combat the more immediate histories of credit cards, and car loans book’s first sections cover fascinating as its present. New roughly 1,700 acquisitions of divested business oft-cited image of private equity firms as investors these entities. That’s one of for harmful practices and a variety of catastrophes, York Times reporter Nathaniel that are willing to strip away value from compa- the goals of Other People’s contractual conditions. “It is and Conti-Brown invites Popper wrote this deep dive nies in their quest for profits. That notoriety has Money: The Law, Politics, impossible to buy a toaster students to discuss how their into its origins and the people stuck since its early days in the 1970s and ’80s. But and History of Financial that has a one-in-five chance aftermaths drive lawmaking. behind its popularization. For while the reputation has persisted, the industry has Institutions, a course taught of bursting into flames Conti-Brown, that the book “A good business may changed dramatically. For instance, PE firms have by Peter Conti-Brown, and burning down your “A Dirty Business” was published before bitcoin’s adapted to expectations by investors in their funds assistant professor of legal house. But it is possible to Journalist George Packer roller coaster headed south require a more long- that they will operate with certain levels of stability studies and business ethics. refinance an existing home chronicles an ambitious makes it an even better read: term perspective that and accountability. Conti-Brown argues that with a mortgage that has hedge fund manager’s “It lets us see how bitcoin was “We do observe—not in our study, but in general each of those contexts— the same one-in-five chance descent into insider trading understood before it went might not be appreciated there is a lot of evidence for this—that private equity along with an ethical lens— of putting the family out in this New Yorker article. mainstream. It’s a marvelous by public-market firms tend to be more professional now,” Nary said. substantially influences how on the street,” the former Enriched with transcripts of history of where bitcoin has “The private equity firms of today are much differ- financial systems operate Penn Law professor and phone calls, testimony, and come from and where it might stockholders,” said ent from the private equity firms at the beginning

today. “The course gives 2020 presidential hopeful IMs, the 2011 story details be going.” • boston globe; colin mcpherson professor Paul Nary. of the industry.” •

32 wharton magazine spring/summer 2019 Illustration by John Holcroft spring/summer 2019 wharton magazine 33 ideas / knowledge@wharton—the case

energy. And though those are positive outcomes, the problem with fear is it can also cause people to Does Fear become rigid, less creative, unhappy, and it tends to be better in small doses.” Motivate If the message the workplace culture is con- stantly sending to employees is to be afraid, that company may not be getting the most out of its Workers? workers. “Fear is a normal human emotion and— Workplace tyranny can boost employee when held in check—can sometimes be a functional performance, but it can also have or even necessary way to ensure that people don’t dire consequences for office culture. become complacent,” says Wharton management professor Andrew Carton. “But when fear becomes an entrenched marker of an organization’s culture, it can have toxic effects over the long run. In addition to stifling creativity, it can inhibit collaboration and lead to burnout.” t one time or another, every employee has experienced what it’s like to be in a The Netflix Way difficult workplace. Perhaps a manager Burnout, though, may be of little concern to some makes a habit of reprimanding workers employers, especially in certain high-growth in front of others, or a supervisor insists industries. Netflix, which has been praised for its that everyone do things a particular progressive company culture, offers perks such way. A sick employee might be told to report to work as a high level of employee autonomy, makes sure anyway.A These and other tyrannical behaviors can business decisions are transparent to all employees, quickly add up to a toxic environment. gives maternity and paternity leaves of up to a year, Research shows that as tools for motivating provides unlimited vacation, and generally adheres workers, fear and intimidation come with a lot to a philosophy the company calls “freedom and of risk; they’ve been largely discredited for some responsibility.” time. A tyrannical management style can lead to In a Knowledge@Wharton interview last year, low self-esteem and performance as it eats away Patty McCord, former chief talent officer at Netflix, at team cohesiveness, increases stress and help- touted the company’s unique culture that focuses lessness, and creates a feeling of work alienation, on high performers. “We realized that when we according to “Petty Tyranny in Organizations,” a had the right people, the right focus, and the right paper written nearly a quarter century ago by psy- deadlines, people operated pretty independently,” chologist Blake Ashforth, who’s now an Arizona she said. According to McCord, Netflix wanted to State University professor. avoid “generic” company rules and processes that And yet the use of fear as a motivator persists. characterize many workplaces; these devolve into Open office plans, transparent and flattened orga- best practices, “which is what happens when we One instance cited in the Journal article involved ple have admired,” said Ramachandran. “While it nizational hierarchies, and a tightened job market copy each other.” One example: Netflix differenti- a vice president who was fired by the CFO and an can be at its worst ruthless and demoralizing, at its aside, fear continues to exert its influence in many ates between values and behaviors: The former are ensuing memo stating that he hadn’t been forth- best it can allow the company to transform itself workplaces. “All emotions have some type of func- aspirational, while the latter are what one actually right with the company on a major employee issue. multiple times and overturn entire industries”—as tion value. So fear does have a value,” says Wharton does. “It’s an important distinction,” she said. “That sounds pretty bad,” said Ramachandran. But Netflix has done with DVD, movies, and TV. management professor Sigal Barsade. “The value, The pressure to perform, though, is high, and it turned out the vice president was protecting an “A lot of current and former employees attribute though, usually is to signal that something has gone Netflix has a culture that is quick to fire employees. employee with a sensitive medical condition: “So [the nimbleness of Netflix] to its culture, because of wrong, something needs to be fixed, and it gives So while these policies might make Netflix seem that’s a little more nuanced. There’s one official nar- … distributive decision-making power … and how “very utopian in your head … in real life, it’s mess- rative that might go to hundreds of people, but you fast you can move,” Ramachandran said. “One tech ier,” Shalini Ramachandran, a Wall Street Journal might not be there to defend yourself.” employee was telling me, ‘I can come up with an idea reporter who wrote an article on Netflix’s corporate At its best, this practice can make every fir- at 9 a.m. and get out the code for it by noon without Netflix’s high-pressure culture, said recently on the Knowledge@Wharton ing a learning experience for others at Netflix. approval.’ So this kind of moving fast is something radio show on SiriusXM channel 132. “At its worst, it sows gossip and more rumors,” this culture encourages.” policies might seem One way Netflix creates a culture of fear is by Ramachandran said. Netflix also employs a kind of The Netflix culture also motivates high perfor- “very utopian in your making a public exercise out of firing employees. keeper test: Managers continually go through the mance. “When you are looking over your shoul- When a worker is let go, the company holds a meet- mental exercise of asking themselves whether they der wondering, ‘Well, am I a keeper or not?,’ you head,” said Shalini ing with team members detailing why. An email is would want to keep workers if another company always strive to be your best. Now, of course, it can Ramachandran of the sent out to potentially hundreds of other employees made them an offer. “If it comes to ‘I wouldn’t keep also wear you down, and that’s another part of it,” explaining what the employee did wrong. But the you,’ then you’re fired,” she said. Ramachandran added. “A refrain that was com- Wall Street Journal. story that gets told is very much from Netflix’s point Is this culture likely to spread to other compa- monly repeated to me was, ‘It was the best place I

“In real life, it’s messier.” of view, said Ramachandran. stevecoleimages nies? “The Netflix culture is something a lot of peo- ever worked, and the worst.’”

34 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 35 ideas / knowledge@wharton—the case ideas / knowledge@wharton—the deck

Emotions as Noise? Hope vs. Fear In some circles, the conventional wisdom is that fear While some people are motivated by fear, others can be enormously helpful for spurring change. But are paralyzed by it. “The problem is, negative emo- Exit Examination: How Employee fear and other negative emotions can backfire under tion often breeds other negative emotions,” says certain circumstances, especially when creativity Wharton management professor Stephanie Creary. Turnover Affects the Bottom Line is necessary. “Fear leads people to panic and nar- “Fear can manifest into anxiety, depression, and Thanks to the wonders of data collection, manufacturing companies around the world have been able to row their attention to such an extreme degree that hopelessness, and an environment in which these streamline their processes, boosting productivity and efficiency. Yet there remains one problem many they may overlook opportunities that unexpectedly negative emotions are prevalent can become a very firms have yet to grasp, says Wharton professor of operations, information and decisions Ken Moon: present themselves,” says Carton. “Employees may hard one in which to work and be productive. Hope, employee turnover. In a case study of one manufacturing firm with a 300 percent annual turnover become so consumed by the specter of a specific on the other hand, can breed happiness, confidence, rate, Moon and his fellow researchers saw exactly how damaging a transient workforce can be. In their negative outcome that they suffer a form of cogni- and all sorts of positive emotions that are much paper “Manufacturing Productivity with Worker Turnover,” the team examined why individual exits tive paralysis and lose the imagination necessary more tied to positive performance and well-being.” hurt the whole company and how firms might avoid the turnover trap. to conjure novel paths to success.” A single worker in a workplace where fear is the Perhaps most problematically, fear can inhibit reigning emotion can try to build personal support learning, “which is essential for evading the very for dealing with it. But, says Barsade, “If you can’t 1 2 catastrophes that some people believe a culture of find support that creates a mini-emotional culture THE QUESTION THE RESEARCH fear can help avoid,” Carton adds. He points to a of companionate love around you—consisting of What effect Moon and cohorts considered the following scenario at the study by Harvard professor Amy C. Edmondson affection, caring, compassion, and tenderness— does turnover manufacturing firm they studied: that found hospital employees who operated under trying to weather that culture of fear is difficult.” have on a a culture of fear reported fewer errors than those Workers might also take comfort in realizing manufacturing Production Production Production experiencing “psychological safety.” But in the that there’s safety in numbers. Going to manage- company? Line Line Line study—“Learning from Mistakes Is Easier Said ment as a group to confront a climate of fear is Than Done: Group and Organizational Influences more effective than going one-on-one. “If I’m in a on the Detection and Correction of Human Error”— company where it feels like all we’re doing is being Edmondson found this was a result of employees coached in what we shouldn’t do, I would prefer to being afraid to report errors. hear what it is we should be doing,” says Creary. “In reality, they actually committed more “One person might approach the manager and say, errors,” says Carton, “in part because they didn’t ‘I’d love to hear more about what we can do than not 3 KEY FINDINGS learn from their colleagues’ past mistakes. It was do,’ but that might not be as effective as a collective 1 2 3 likely they were never even made aware of those conversation. A better approach could be to hold a Despite the difference in experience This line, the This line had This line had mistakes, as their colleagues were worried about group conversation with a manager to explain that control, had no 10 percent 10 percent the consequences that would ensue if their mistakes fear is creating toxicity and threatening productiv- levels of replacement workers, turnover and turnover; the turnover and were discovered. Thus, fear may appear at first to ity and effectiveness, and then suggest ideas for how the third line’s productivity and no change replacement the replacement be a mechanism that helps people stay alert to the to improve the culture and what the positive conse- in workers’ workers were workers were unacceptability of failure, but it can, ironically, be a quences of doing so might be.” suffered roughly as much as that experience. inexperienced. experienced. source of failure instead.” The salient questions for organizations that of the second line. The researchers Many companies, though, don’t see it as their job deploy fear are whether they’re using it intentionally, determined that the problem with to actively manage emotional culture in the work- what it’s ultimately achieving, and at what cost. “At place. Why not? “It’s because people just tend to view Netflix, as in any company’s case, to have a culture turnover is less about individual emotions in general as noise, an ancillary matter work for them, the culture has to be in alignment productivity and more about 5 THE FIX that gets in the way of the facts of the situation,” says with the strategy and structure, and in Netflix’s case, the interruption to social Barsade. “What many managers and leaders don’t it seems they have aligned it with their strategy and One way to stem the tide of understand is that emotions aren’t noise; they’re have created a structure to support it,” says Barsade. relationships and data—and they’re data about not only how employees “The question is, are they actually retaining the workflows on the line. turnover? Higher wages, feel but also how they think and will behave.” best talent?” she continues. “Motivation is a long game, and are they really gaining the best moti- Moon says. Thinking about vation and outcomes? With regard to the people they’re losing in their ‘keeper’ test—are they only 4 THE IMPACT compensation as a way to The questions for losing the people they don’t want to keep? People who don’t line up with the culture might also be In the case study, protect productive work flows organizations that leaving. And perhaps an employee might not be a the work-flow deploy fear are keeper in six months, but maybe in a year, they are.” interruptions cost the can reduce the disruption Sometimes, though, it might just be time for the manufacturing firm whether they’re using employee to turn the tables on the employer. You and costs associated with it intentionally, what can fight the larger culture for only so long before turnover: “It looks to us like it’s ultimately achieving, you’re forced to do what Netflix itself does, says Barsade: “Do a keeper test of the organization and $135 MILLION A YEAR it could be a win/win.” and at what cost. decide whether to go or stay.” • right: nlshop jesadaphorn; above:

36 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 37 ideas / knowledge@wharton —data

DATA INTERPRETED DATA INTERPRETED THOUGHT DATA INTERPRETED Fintech Finds “Invisible Prime” Borrowers for decades, the main recourse for cash-strapped Americans with less-than- $2 billion stellar credit has been the payday loan and its kin, which charge interest rates Approximate amount raised in 2015 through charitable in the triple digits. But a slew of fintech lenders is changing the game by using promotions run by North American businesses °C artificial intelligence and machine learning to sift out true deadbeats and fraud- sters from “invisible prime” borrowers—those who are new to credit, have little credit history, or are temporarily going through hard times but are likely to repay % Such initiatives yielded just $100 million in 1990. their debts. In the paper “Philanthropic Campaigns and The market fintech lenders are targeting is huge. According to credit scoring Customer Behavior: Field Experiments on an The United Nations warns firm FICO, 79 million Americans have credit scores of 680 or below, which is con- Online Taxi Booking Platform,” researchers 1.5rising temperatures sidered subprime. That number doesn’t include another 53 million U.S. adults who including Wharton vice dean for global initiatives don’t have enough credit history to even get a credit score. Full-time employees in the Serguei Netessine find that although charitable should be contained to “The U.S. is now a non-prime nation defined by lack of savings and income U.S.43 who are female giving through business promotions is on the rise, this amount above volatility,” said Ken Rees, founder and CEO of fintech lender Elevate, during a it doesn’t lead to long-term customer loyalty. pre-industrial levels to panel discussion at “Fintech and the New Financial Landscape,” a conference recently held by the Federal Reserve Bank of Philadelphia. According to Rees, Women make up nearly avert severe impacts of banks have pulled back from serving this group, especially after the Great half of the American global warming. Recession. “Prime customers are easy to serve,” he noted, since they have deep workforce, yet they aren’t credit histories and a record of repaying their debts. But there are folks who may represented proportionally be near-prime but are just experiencing temporary difficulties or haven’t had an among leadership and THOUGHT Knowledge@Wharton opportunity to establish credit histories. “Our challenge … is to try to figure out a across industries. recently invited three way to sort through these customers and figure out how to use the data to serve Panelists discussed why it “You want to ask the experts—including Eric them better.” That’s where AI and alternative data come in. is imperative for women Orts, Wharton faculty To find these invisible primes, fintech startups use the latest technologies to to have a bigger voice in crowd for two bits of director for the Initiative gather and analyze information about a borrower that traditional banks or credit the capital markets at a for Global Environmental bureaus don’t use. The goal is to consider this alternative data and more fully recent conference hosted information—not just Leadership—to analyze flesh out the profile of borrowers to see who’s a good risk. “While they by Knowledge@Wharton the outcome of the 24th lack traditional credit data, they have plenty of other financial infor- and Impact Investment for their own answer, annual Conference of the mation” that could help predict the ability of such Exchange, an organization Parties, a U.N. climate- would-be borrowers to repay a loan, said Jason founded by Durreen but also for their change meeting of nearly Gross, co-founder and CEO of Petal, a fintech Shahnaz WG95. 200 countries. lender. What, exactly, falls under “alternative predictions about data”? Jeff Meiler, CEO of fintech lender Marlette Funding, cited such information the answers of other as a person’s assets, net worth, cars, utility payments, schooling, and occupation. people in the crowd.” How much should businesses trust crowdsourced data? In “A Solution to the Single-Question Crowd Wisdom Problem,” researchers including THOUGHT Wharton marketing professor John McCoy propose a method for crowdsourcing that can help generate better, more accurate results: “It’s not a marathon; it’s a series of sprints. Weigh these two responses, and rely on the “surprisingly popular” answer. To perform at your best in every sprint, you need time to recover. To be your best as a leader, you need time to recharge.” Wharton Dean Geoffrey Garrett turned three leadership clichés on their heads for the latest Wharton CEO Academy, an executive-level event in New York. Garrett suggested Learn more at knowledge. replacing “Stick to your guns” with Kenny Rogers’s “Know when to hold ’em, know when

wharton.upenn.edu daft_lion_studio martinmachnowski; curvabezier; left from to right: luckyvector; to fold ’em” and advised attendees to “question everything”—but not always aloud.

38 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 39 ideas / knowledge@wharton—q&a

sometimes in very similar populations, the results could go and read what we were doing. Everything don’t seem to hold. was very clear a priori—before we ran the studies— Is There a Top academic journals like Science and Nature, in terms of what analyses we would use. which are the ones we used in this study, have The third thing was using much larger samples Replication acceptance rates of something like five percent of than the originals. Sample size is a very important papers that are submitted, so it’s not like they don’t factor in an experiment. If you have a large sample, have papers to select from. In my view, the replica- you’re more likely to be able to detect effects that are Crisis in tion rates we’ve seen in these studies are lower than smaller. The larger your sample, the better the esti- what you would expect. mate you have of the effect size, and the better your Research? capacity to detect effects that are smaller. Marketing professor Gideon Nave K@W: Can you describe some of the experiments you tried to replicate? K@W: Even in the studies that did replicate, the put the outcomes of social science Nave: The experiments we used were social science effect size was much smaller, correct? experiments to the test. experiments involving human participants, either Nave: Yes. We’ve seen it in previous studies. Again, online or in laboratory studies. The experiments in this study, because the samples were so large, the we selected also typically had some manipulation, studies that failed to replicate had essentially a zero meaning there is an experimental setting where effect. But then we could tease apart the studies that half of the population gets some treatment and the didn’t replicate from the ones that did replicate. Even e rely on research journals to other half gets another. the studies that did replicate well had on average an vet what they publish, but does For example, we had a study in which people effect that was only 75 percent of the original, which every study these academic gate- watched a picture of a statue. In one condition, it means that the original studies probably overstated keepers accept truly hold water? was Rodin’s The Thinker, and in the other one, it the size of the effect by 33 percent. Wharton marketing professor was a man throwing a discus. The assumption of This is something one would expect to see if there Gideon Nave worked with a group the researchers was that when you show people is a publication bias in the literature. If results that of multinational researchers on a project that aimed Rodin’s Thinker, it makes them more analytical, so are positive are being published and results that are Wto replicate the results of 21 social science experi- this was the manipulation. And then they measured negative are not being published, you expect to see ments published in the journals Nature and Science. people’s religious beliefs. The finding that the paper an inflation of the effect size. This is what we saw in Only 13 of the researchers’ studies produced results reported was that when you look at the picture of the studies. This means that if you want to replicate recognition badge when you preregister the study. that supported the original studies. A surprising the Rodin and become more analytical, you are less the study, you probably in the future want to use a Preregistration is a very important thing. It’s com- 38 percent of these studies failed to generate the likely to report that you believe in God. larger number of participants than what you had in mitting to an analysis plan before you do the exper- same results. Nave sat down with Knowledge@ the original, so you can be sure you’ll detect an effect iment. When you do that, you limit the amount of Wharton to discuss the findings of his team’s paper, K@W: What did you find when you tried to replicate that is smaller than what was reported originally. bias that your own decisions can induce when you “Evaluating the Replicability of Social Science that one? analyze the data. There were previous studies con- Experiments in Nature and Science Between 2010 Nave: This study specifically did not replicate. I K@W: This was a collaboration of all these research- ducted, mostly here at Wharton, showing that when and 2015,” and the future of research. think the problem is the manipulation itself. I’m not ers. What was their reaction to the results? you have some flexibility in the analysis, you’re very sure that looking at the Rodin statue makes you more Nave: The reactions were pretty good, overall. likely to find results that are statistically significant Knowledge@Wharton: Studies like yours have analytical in the first place. When this crisis debate started and there were many but don’t reflect the effect. shown that the results of high-profile experiments failures to replicate the original findings, replication often can’t be replicated. Do you think there’s a K@W: You looked at 21 experiments. What were wasn’t a normal thing to do. It was perceived by the K@W: What’s the next step in your own research? “replication crisis,” as people are calling this? some of the key takeaways from the entire project? authors of the original studies as hostile. I have to Nave: One of the things we’ve done is try to use Gideon Nave: I don’t know if I want to use the word Nave: There is an ongoing debate in the social sci- say, it doesn’t feel nice when your own study doesn’t machine learning to go over the papers and see “crisis” to describe it, but we certainly know that ences as to whether there is a replication problem replicate. But now, there is more acceptance that it’s whether an algorithm can predict whether studies many results that are published in top academic or not. The results of previous studies that failed to okay if your study doesn’t replicate. It doesn’t mean will replicate or not. For this specific experiment, journals, including classic results that are parts replicate a large number of papers published in top you did something bad on purpose. It can happen. the algorithm can detect replicability in something of textbooks and TED Talks, don’t replicate well, journals in psychology and economics were dis- like 80 percent of the cases, which is not bad at all. So which means that if you repeat the experiment with missed by some of the researchers. Some said that K@W: Could this type of research change how we’re working on automating this process. exactly the same materials in a different population, this was just some kind of statistical fluke, or maybe larger journals and high-profile journals likeNature Another thing is just to continue to replicate. the replications weren’t sufficiently similar to the and Science accept papers? Replicability should be an integral part of the scien- original experiments. We wanted to overcome some Nave: I think it already has. If we look at the studies tific process. We have neglected it, maybe for some of these limitations. that we replicated, all of the experiments that failed time. Maybe it was because people were perceived In order to do so, we first sent all of the materials to replicate took place between 2010 and 2013. From as belligerent or aggressive if they tried to challenge “If a study doesn’t to the original authors and got their endorsement of the past two years of the studies that we selected, other people’s views. But when you think of it, this the experiment. In case we got something wrong, we everything replicated. Those were only four studies, is the way science has progressed for many years. If replicate,” says also got comments from them. There was joint collab- so I’m not going to make bold claims like “Everything a study doesn’t replicate, you’d better know it before professor Gideon Nave, oration with the original authors in order to replicate now replicates.” But it’s very clear that there were building on it and standing on the shoulders of the the experiment as closely as possible to the original. changes in journal policies. This is especially true researchers who conducted it. The Rodin study had “you’d better know it The second thing we did was preregister the for psychology journals, where one now has to share about 400 citations in as little as four years. These

before building on it.” analysis, so everything was open online. People the data, share the analysis scripts. You get a special papers have a high impact on many disciplines. •

40 wharton magazine spring/summer 2019 Illustration by Jon Han spring/summer 2019 wharton magazine 41 This year marks the 20th anniversary of Knowledge@Wharton, Kendall Whitehouse Diana Drake which began as a concept Allyson Vaughan Contributing Dan Loney KWHS managing Sanjay Modi Administrative editor James Tracy K@W radio host Patricia McMahon editor Technical for a print magazine Radio producer assistant Computing director and quickly grew into an invaluable resource for lifelong learning online, on the radio, and on podcasts. Meet its visionary founder and the team that’s spreading insights and education to a global audience.

By Malcolm Burnley

Deborah Yao Senior editor Steve Sherretta Steve Guglielmi Senior managing Senior editorial Mukul Pandya Monique Nazareth editor Not pictured: Kara Dunn, director Executive director/ Radio producer Associate director of Rachel Kipp editor in chief marketing; Dongnian Zhou, Associate editorial project coordinator. director

Celebrating Knowledge 42 wharton magazine spring/summer 2019 Photograph by David Williams spring/summer 2019 wharton magazine 43 an emperor. He’s more like Cramer’s when he was young and confused about he admits in retrospect—that he could soft-spoken alter ego, exuding humility his future, his grandmother took him to hit the 3,000 mark in year one of K@W. and a reticence to grab the spotlight at speak with a family friend who worked Within 48 hours of launching the site in every turn. But K@W deserves a bow. in Bombay as a banker. Pandya wanted May of 1999, K@W had already amassed “I like to use the metaphor of a advice on career tracks and asked the some 800 subscribers to its newsletters; he year is 1998, the lighthouse,” says Sanjay Modi, the IT banker about studying at a place like it crossed the first-year goal in three dot-com bubble has technical director of K@W and the Wharton. “He looked at me and said, weeks. Before the end of year two, not yet peaked, and longest-tenured member of the staff. ‘You know, places like Wharton are for 99,000 people in more than three dozen the future host of Mad “As the school has gone through dif- people who are either very smart or very countries had signed up. K@W’s success Money, Jim Cramer, is ferent campaigns, different strategies, rich. You should be more modest with clearly wasn’t a fluke. at a Goldman Sachs Knowledge@Wharton has always been your aspirations,’” Pandya recalls. “It’s not that other business schools conference, speaking a beacon of the intellectual capital that’s He was crushed. “So when I eventu- didn’t have online publications, but they about the future of generated here.” ally got here, I never forgot what it feels were digital copies of the print publica- technology and the like to be told this world has amazing tions,” Pandya says. “When they sent it media. Cramer talks places of learning but they’re not for you. off to the printer, they would also send it about ripping up the s a child in Bombay, The idea that we can take knowledge to the webmaster, and he’d turn it into a subscription to one India, Pandya couldn’t stop from this institution and make it avail- PDF and put it online. The digital was just of his favorite print business journals dreaming. Maybe it was a able for free to everyone who wants to sort of a replica of a print product. But I while praising the untapped poten- result of growing up in a learn—that became my driving passion.” was thinking about doing the opposite.” tial of internet-only publications like household rich in stories, In the initial four months of planning TTheStreet, the online-native challenger given that both of his par- that would lead to K@W, Pandya faced a to the Wall Street Journal that he started. ents were professors of English litera- daunting challenge: to capture the insti- f pandya embodies the free - In the canon of Cramer antics, this ture.A “I decided from an early age that in tutional knowledge of Wharton with a thinking spirit of K@W, then Dan was a tame performance. But it spoke no way was I going to follow my parents brand-new publication, then grow its Loney, the host of K@W Radio, rep- loudly to Mukul Pandya. At the time of into academia, so I went into journalism reach globally—and to do so at a moment resents its voice. the conference, Pandya was tasked with instead,” Pandya says. “And look where of massive disruption in the traditional Back when Pandya was conjur- a simple challenge from the administra- I ended up.” business model of publishing. Even with ing up his grand idea, Loney was tors of his new employer, the Wharton When he greets me in the lobby of decades of experience, Pandya needed working for the Charleston Alley Cats, a School: Build a publication from the Steinberg-Dietrich Hall, Pandya looks all the help he could get. He enrolled as ISingle A baseball team in West Virginia, ground up to rival the influential likes the part of a veteran journalist—bristly a client in the Wharton Small Business as a broadcaster. He spent a dozen years of Harvard Business Review and MIT white mustache, glasses, and a sweater Development Center, and with the help as a play-by-play guy, grinding it out in Sloan Management Review, and do it from over a collared shirt. Moments later, of two graduate students, he produced a the minor leagues of pro sports. “It was Locust Walk. Pandya was an established he takes control of the interview like a business plan charting a path to growth 152 games in 162 days,” Loney says. “And business journalist, having written for pro, too; before I can ask my first ques- for the would-be publication. I had responsibilities with marketing national outlets including the New York tion, we’re dishing on Jhumpa Lahiri He benchmarked K@W’s poten- and had to handle my own advertising.” Times and The Economist. At Wharton, books, and Pandya starts interviewing tial reach against the circulation of Loney eventually made his way to he would essentially be a one-man show And Knowledge for All: Pandya’s vision for K@W was motivated by a passion me. His insatiable thirst for knowledge Wharton’s existing print newsletters Princeton, New Jersey, first as a broad- taking on a collective 100 years of brand- to bring Wharton’s research and perspectives to a global audience for free. is the fuel in the K@W engine. and estimated—perhaps overzealously, caster for Ivy League athletics, then as a name credibility in those other two pub- Pandya received his master of eco- host for Wall Street Journal radio, based a lications. But a report on Cramer’s rant knowledge-capturing-and-distribution dissemination and enhances the impact nomics degree from the University of few miles outside the university. In 2014, at the Goldman conference lit a creative system that utilizes the web?” of our discoveries globally to diverse, Mumbai in 1979, then spent two decades a friend forwarded him a job posting for fire. “If I had been a cartoon,” Pandya Knowledge@Wharton launched in new, and important audiences.” as a writer and an editor. He worked a Wharton satellite radio station that says, “that’s the moment the lightbulb May of 1999, and today, Pandya over- K@W, as it’s often called, attracts as the latter at the Economic Times, the was on the cusp of launching. Loney sub- would have gone off above my head.” sees what can only be described as an three million users across the world. largest business daily in India, followed mitted his résumé and met with Pandya, Less than a year later, Pandya would indelible extension of the School and one In 20 years, it has evolved into a full- by a stint at BusinessWorld, a national and five years later, he’s up at dawn and convince Wharton to forget about a of its greatest ambassadorial assets. It fledged brand: It publishes 10 articles magazine that he compares to Business The original editoral in Huntsman Hall to do 10 hours of live glossy magazine in favor of launching an functions as an importer and exporter of a week (some of which are repurposed Week. In the fall of 1989, he moved to the radio, interview 30 to 40 guests, and online-only journal. In retrospect, given Wharton’s most precious commodity— in this section of Wharton Magazine); U.S. and began working at an upstart concept, which voice a dozen podcasts every week. the woes of print journalism, the choice ideas. It also embodies the institution’s hosts a daily two-hour radio show on business journal in New Jersey; he also “It’s been good to have that in my seems obvious. But in the moment, dedication to lifelong learning, a jour- Wharton’s Business Radio channel on freelanced for major outlets including hasn’t changed, is professional DNA,” he says of his minor- Pandya’s full embrace of the internet ney of intellectual growth and curiosity Sirius XM; contributes white papers on the Philadelphia Inquirer. Pandya first set that we exist not league barnstorming days. “I know the was visionary, especially for a publish- that extends far beyond graduation day. management theory; releases a dozen foot on Penn’s campus during his second expectations of what I need to bring to ing outfit in academia. “Knowledge@Wharton has translated podcasts each week; and distributes year on that job, for professional devel- to communicate the table every day.” “That Wharton needed its own our research for the benefit of manage- more than 500 free lesson plans on its opment training at Wharton’s annual When Pandya launched K@W, the journal was not a particularly original ment and media in real time, understand- site for high-schoolers. business-journalism seminar, which information, but to word “podcast” hadn’t yet been invented. idea,” says Pandya. “But what if you able language, and convenient format,” It would be easy to call Knowledge@ offers abbreviated courses with faculty. communicate insight," Now it’s an inseparable part of the could imagine a publication created for says Jerry Wind, Lauder Professor Wharton an empire if not for the fact Wharton had special significance brand. On any given day during Loney’s

the web—not so much a magazine as a Emeritus of Marketing. “It speeds up the that Pandya is impossible to see as rooted in Pandya’s childhood. One day says Mukul Pandya. two-hour show, you’ll hear a lineup of

44 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 45 K@W’S GREATEST HITS: but that’s not the sole sensibility of the ited. Meanwhile, he found a seemingly THE WEBSITE’S TOP 10 MOST-READ ARTICLES site. Readers (and listeners) are as likely endless stream of opportunities to cap- to find insight from a finance expert at ture knowledge from Wharton: heads of 1. 4. 8. Yeshiva University as they are to hear state and CEOs speaking at the School, ”MySpace, Facebook ”‘Men Buy, Women ”Perk Place: The from a Wharton professor with new conversations on books with faculty and Other Social Shop’: The Sexes Have Benefits Offered by Networking Sites: Hot Different Priorities Google and Others May research or an alumnus who’s making authors, original articles leaning on Today, Gone Tomorrow?“ When Walking Down the Be Grand, but They’re news on Wall Street. “Until you’re in in-house sources. Aisles“ All Business“ business journalism, you might not real- The success of K@W gave Pandya 2. ize that this nexus touches everything the leeway to staff up with more writ- ”Managing Emotions 5. 9. in the Workplace: Do ”How the Offer of ”A World Transformed: in life,” says Guglielmi. “I think a lot of ers and editors, including Robbie Shell, Positive and Negative ‘Free Shipping’ Affects What Are the Top 30 the success of editorial has to do with who was editorial director for 15 years. Attitudes Drive Online Shopping“ Innovations of the Last Performance?“ 30 Years?“ the depth we bring to these topics. That In 2003, K@W launched Spanish and 6. helps us stand apart.” Portuguese versions of its website, fol- 3. ”‘The Objective of 10. Back in 1999, Pandya wrote a 14-page lowed by a Chinese edition in 2005, an ”Non-Financial Education Is Learning, ”Why Economists manifesto laying out his editorial vision Indian version in 2006, and eventually Performance Measures: Not Teaching’“ Failed to Predict the What Works and What Financial Crisis“ for K@W—an artifact that’s buried on a an Israeli and Arab product as well. Doesn’t“ 7. dusty hard drive somewhere these days. (These regional sites were combined into ”Good Managers Focus on Yet despite the evolution and expansion a single global edition in 2012.) While the Employees’ Strengths, Not Weaknesses“ of K@W—which now has a full-time majority of the content is disseminated staff of 14—he thinks the brand has kept from Philadelphia, interest has grown Live From Huntsman Hall: Monique Nazareth, Patricia McMahon, and Dan Loney a steady course over the past 20 years. around the globe. Along with then-vice chat during a broadcast in the Wharton Business Radio studio. One thing that hasn’t changed is the lack dean Barbara Kahn (now a professor guests that might include your favorite In fact, increasingly, K@W’s website of bylines on the K@W site, a stylistic of marketing at Wharton) and various osity and critical thinking,” says manag- Patti Williams. Half of this show hadn’t Wharton professor, a former Fortune revolves around the circadian rhythms choice made by Pandya right off the bat alumni, Pandya also started developing ing editor Diana Drake. been booked when the producers left on 500 CEO, and an expert on international of the radio show, recorded every week- à la The Economist. “The faculty are the a high-school version of K@W in 2007. The program supplies professors Friday. “It’s a wacky and wonderful and relations who teaches on the West Coast. day morning at 10 a.m. and airing twice superstars,” Pandya says of academia. Then the stock market crashed. with fresh audiences for their work and cool process,” McMahon says of orches- There’s the same wide range of subject a day on Wharton’s Sirius XM channel “And beyond that, what’s said is more “We had gone to a number of financial molds the next generation of prospective trating the daily program along with fel- matter found in K@W articles, along 132. Members of the editorial team derive important than who says it.” institutions who expressed interest in students. “The concept of an Ivy League low producer Monique Nazareth. with a preference for Wharton-grown a good portion of their content from Knowledge@Wharton High School; then university is not accessible to a lot of Within a month of celebrating K@W’s talent, but the radio content skews listening to segments of the show and the world fell apart,” says Faquiry Diaz people,” says Diaz Cala, “but [KWHS] 20th birthday this May, it will be time to toward a general audience. adapting them into articles for the web. or wharton alumni, Cala C97 W97, who worked with Pandya breaks down those barriers.” pop the cork on some champagne again, “We’re allowed to go wherever we These complement the traditional well of K@W serves as a way to stay and Kahn on the project. “None of those to honor the radio station’s fifth anni- want to go,” says Loney. “Mukul loves stories generated from groundbreaking connected to the School— institutions were around to support versary. Although analytics are hard to the content we do, and he makes sugges- research, interviews from within aca- anytime, from anywhere—and financial literacy and entrepreneurship t’s a chilly Monday morning after come by in the world of radio and pod- tions every once in a while, but he never demia, and original think pieces written to continue to learn from its top at a time when it was needed the most.” the Super Bowl inside the Wharton casts, Pandya considers the show to be tells us no, you can’t do something. It by business experts around the globe. thinkers. “The original edito- During and after the Great Recession, Business Radio studio, which is an unparalleled success. Along with the allows us to go with our creative juices Any close watcher of K@W over time rial concept, which has not changed, is sharing Wharton’s knowledge was located in a tucked-away corner of rest of Knowledge@Wharton’s offerings, and put stuff out there.” has noticed how much broader the sub- Fthat the reason we exist is not to commu- even more vital. In 2011, KWHS finally Huntsman Hall. In the control room it’s proof of how far K@W has come since ject matter is than the name implies. “We nicate information,” says Pandya. “It’s to launched, with content from the flag- is producer Patricia McMahon, its launch—one that, like its founder, was approach everything with a journalist’s communicate insight.” ship site repurposed for young adults who’s on the line with a former CEO of both humble and ambitious. sensibility,” says Rachel Kipp, K@W’s You don’t come to K@W to read along with lesson plans that are free for IVerizon Communications. “Is it EYE- “I could never have imagined that associate editorial director, who’s been breaking news about a mega-merger; teachers. The reach of KWHS is some- van or ee-VON?” McMahon asks, jotting we’d be doing podcasts, that we’d be working with Pandya and senior edi- you come for day-after analysis of its thing to marvel at: It now has more down the phonetics of the name for the doing high-school programs or a daily torial director Steve Guglielmi for nine pros and cons. You come to unpack the than 250,000 users and remains one of live show. One room away, with his head- radio show,” Pandya says. “It’s been a years. (Senior managing editor Steve business implications of Brexit. You the fastest-growing K@W assets. This phones on, is Loney. When he hosted the combination of staying true to the mis- We really approach Sherretta and senior editor Deborah Yao also come to explore the kind of faculty year’s annual investment contest— first K@W show five years ago, Wharton sion of knowledge-sharing and being round out the editorial team.) Kipp, like a research on topics like pattern-based which, unlike most mock stock-market was the only Ivy League business school educational in our approach. A lot of everything with a lot of the staff, came to K@W from a news thinking—minus the footnotes—that competitions, awards students not for with a channel on satellite radio. times, people think this is a way for outlet; she worked at a daily paper in will make your head spin. making the most money, but for essays Right now, Loney is delivering a Wharton to build its brand. But the journalist’s sensibility," Delaware as a business reporter. “We’re Initially, K@W focused on translat- they write on what they learn from the monologue on free-market excess, hav- brand-building is the result of getting says associate director not on the Wharton beat as much as ing 80 to 100 faculty research papers per process—boasts some 2,000 teams of ing cited a headline about a 25-pound tub the education part right—it’s the effect, we’re on the knowledge beat,” Kipp says. year into digestible content for business high-schoolers and culminates in May of mac-and-cheese for sale at Costco. Just not the purpose of what we do. That’s a Rachel Kipp. “We’re not One of the most influential and well- practitioners while linking to additional with an international gathering of final- before, he was discussing interest rates very important distinction.” • read stories in the history of the site resources (and the original research) for ists in Philadelphia. “The KWHS eco- with a former Federal Reserve chief; on the Wharton beat was a current-events analysis of India’s those who wished to drill down further. system has grown out of the desire of Loney segues from Ivan Seidenberg, the Malcolm Burnley is a correspondent as much as we’re on the demonetization policies in 2016. K@W’s This layering of content was innovative, students and educators to not only study former Verizon exec, to two particularly for the Fuller Project for International editorial philosophy is simple: If you and one of the unique advantages of the concepts like innovation, investing, and charismatic thinkers at Wharton, mar- Reporting and a freelance writer living knowledge beat." can feature Wharton at any turn, great, internet that Pandya immediately intu- fintech, but to also give life to their curi- keting professors Americus Reed and in Philadelphia.

46 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 47 in Frank am lin nj S e oc B ie e t h y T JOIN THE

F e r r 3 o u $1 MILLION m t u People o F u r r F ou CHALLENGE ound ng to i Network: Essay—50 View From Locust Walk—52 Pivot—55 Cohort—56 Life Lessons—96

This Spring, a select group of leadership donors issued a challenge to alumni, friends, and the Wharton community. The goal: to secure 1,881 Benjamin Franklin Society members and unlock an additional $1 million for The Wharton Fund to benefit the School.

1,881 donors can unlock $1,000,000 for our future.

How “My journals are a measure THE CHALLENGE of how much Works Benjamin Franklin Unlocked by I’ve grown Society Donors Challenge Donors in just four By June 30, 2019 For The Wharton Fund years here.” Adedotun R. Adejare W19, p.52

The BENJAMIN FRANKLIN JOIN THE CHALLENGE SOCIETY whr.tn/1881challenge Illustration by Sam Kerr spring/summer 2019 wharton magazine 49 people / essay

and I started further exploring the notion of lack of Her Own confidence as a cause of underrepresentation along- Champion side Camila Noordeloos WG18, Kali Bhandari WG18 describes how a dear friend and Imaginare co-founder who has since she and Autumn Huiatt WG18 are moved on to other projects. The empowering girls with their fresh takes questions we asked included: on famous fairy tales. Are women innately just less confident? Or did we lose confidence somewhere along the way? As we talked to educators, child development psychologists, and our classmates, many of whom were parents themselves, the answer we uncovered blew us away: Children, hen i arrived at Wharton’s and in particular girls, lose confidence San Francisco campus for my in their own abilities as early as age Executive MBA nearly three years eight. This led to a follow-up question: ago, I found myself, not surpris- What was happening by age eight to ingly, surrounded by a number change the course of females’ destinies of other strong-minded women. view was somewhat small. As she told me, “nice” ↑ so rapidly? But in the back of our minds, However, we made up only a third of the students was more important than “competitive,” and “con- Breaking we already knew the answer from our Barriers: Author Win our West Coast program, and our presence at siderate” certainly triumphed over “independent.” own experiences. Bhandari (left) the School occasionally made me think of all the While her Midwestern roots nourished positive and Huiatt. And with that, we published our women who would never be able to pursue similar characteristics such as hard work and strength, she Cinderella story one month shy of grad- opportunities—due to culture, a lack of confidence, also grew up with an almost innate need to please uation, in April 2018. Our version of the charac- or an inability to challenge authority. those around her. ter starts with the same problems as her original Of course, I wasn’t the only woman in my class I was facing a similar struggle across the globe. counterpart, including a stepfamily that chooses to considering these challenges. Many, if not all, of us While I was growing up in the Middle East as the be mean to her. But instead of waiting around for a have encountered them in ourselves, in the form of daughter of conservative parents, I saw that the Prince Charming, she solves her challenges herself. fear, hesitancy to tackle male-dominated profes- “good” women around me were polite, subser- We didn’t expect to make a huge splash. After sions, or reluctance to upset the proverbial apple vient, and always dedicated to hearth and home, all, we were first-time entrepreneurs, still stu- cart by asking for what we deserve. These shared with extra value given to those who were beauti- dents finding our own voices. But the responses we experiences, while unfortunate, would eventually ful. Good girls didn’t go marching in the streets to received confirmed we were on the right track. A serve as the inspiration for an exciting project: demand revolution or challenge traditions, culture, couple stood out: A classmate’s daughter was going Imaginare Studios. Through the venture, Autumn and male opinions. to write her own book after hearing ours; a cousin’s Huiatt and I are combating these issues early on Given these expectations, we both wondered daughter disagreed with how Cinderella solved her with storytelling. how women could ever change the world. We were problems and went off to write her own version of a We also slowly realized something else: the ↑ The limits society places on women were obvi- perhaps fortunate, then, that unlike a number of fearless heroine. We had started something, and we power of story. There is a real desire to celebrate Lessons From the Past: The ous to both of us even as children. Autumn grew other girls in our situations, we had parents who knew we had to continue after graduation. our successes and those of individuals around childhood up in small-town North Dakota, where the status believed in education and gave us a number of Last year, as we worked on marketing the book us. This led us to publish a series of stories online experiences of Huiatt quo wasn’t often challenged and the general world- opportunities to gain through scholarship what we and formed a company around Imaginare, we about real-life girls who are doing amazing things, and Bhandari might never have accomplished otherwise: careers, started reading to our target audiences at elemen- from being the sole female on the baseball team at inspired them to ambition, and opinions of our own. But this got us tary schools. It was amazing how quickly children the age of eight to forming a bath-bomb business tackle gender stereotypes. wondering: How many other girls might never picked up the main messages of the book: that you and selling product to stores at the age of 12. find their wings because they’re told they have to can save yourself, and that you don’t have to be Bravery is all around us, and we hunger to find We wondered: How be soft-spoken and pretty and wait for a Prince beautiful or nice to solve your problems. it and celebrate it as part of our broader mission. It’s Charming to find value in themselves? And, more These experiences led us to speaking engage- our hope that one day, every little girl will have the many girls might importantly, what could we do about it? This line ments with parents. Reading our book to them confidence to chase any opportunity, and that we’ll Cinderella: never find their wings of thinking led us to form Imaginare, to show Revised Classics sparked discussion about how frequently we play a part in making that dream a reality. girls through the stories we publish that they can for Modern expose our daughters to traditional gender stereo- because they’re told break down barriers themselves. Our first project Children is types. Through these events, we witnessed pow - and published by Kali Bhandari WG18 Autumn Huiatt WG18 to wait for Prince is a book offering a modern twist on the classic Imaginare erful moments as parents shared their fears and are co-founders of Imaginare Studios. The duo Cinderella story. Studios and stories about trying to raise female children to be expect to publish a second edition of Cinderella in the Charming to find available The idea for the company came out of an elec- through online confident. Our book was proving to be rewarding coming months and are working on various speak- value in themselves? tive entrepreneurship class at Wharton. Autumn retailers. swanson sarah and inspirational in a way we had never imagined. ing engagements and stories of real-life bravery.

50 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 51 people / view from locust walk Paging Wharton For one undergraduate, the stories written in personal journals reveal the depth of his four-year journey—on campus and beyond.

t the corner of my desk is one of my journals—a small leather notebook that has survived the journey from my freshman year to my senior year. It has been a subtle reminder to remain both reflective and focused. But in this past year, it adopted a new significance, gathering together the manyA experiences that defined my undergraduate education. A few months back, I reached for it. It was a little worn-out but still readable. Although I journal consistently, I rarely return to read what I write; I simply take comfort that the information is there and enjoy the writing process itself. But the true value of those journals lies in those moments when I go back and explore those pages. At the end of my sophomore year, I read the journal and was struck by a story from my freshman spring semester. Wharton had offered a workshop that coached students on extemporaneous speaking. Public speaking was very dear to me. My heart raced each time I lifted my voice—not for joy, but rather because I heard my choppy words stumble out like an irregular drumbeat. I hated my stutter, but I loved to speak in public and had resolved never to let go of an opportunity out of fear. I added this workshop to my schedule. For the next six weeks, my peer group and improved our rhetoric, and we formed great My academics taught me business, and BWUA pro- had applied to Wharton: I desired a global business of seven undergraduates was coached by Jonathan relationships as a result. It was the first workshop vided the opportunity to apply the knowledge. education gained through the combination of aca- Laifer WG16, the Wharton MBA and Omnicom I took at Wharton. Since then, I have enjoyed many When I had filled my first journal, I purchased demic and experiential learning. Fellow we were paired with. He refined my pre- more, including others on SQL, Python, and per- a second and eventually a third. Now, in my final As I read through the hundreds of pages that sentation style by helping me improve my cadence, sonal finance. All of them reinforced that so many semester, I take another look—reading page by page, I’ve filled, this steady theme rings true. I feel a remove filler words, and utilize strategic pauses. limitations can be overcome with knowledge and a reliving the experiences I’ve accumulated. Over sense of pride, because I learned by doing and took Speech after speech, I was challenged, but the excite- willingness to learn. the past four years, I’ve traveled to San Francisco, full advantage of the opportunities Wharton pro- ment was never lost. Our cohort built our confidence Several pages over, there’s another story that I Israel (twice), Singapore, Malaysia, Indonesia, vided. Those books are more than a diary—they’re remember distinctly. At the end of my fall semes- mainland China, and Hong Kong—each for my measures of how much I’ve grown in just four ter sophomore year, I was elected the vice president first time. In my maiden trip to Israel, I celebrated years here. I will continue writing to stay reflective of corporate development for the Black Wharton my first college birthday abroad while studying the and focused, but also to ensure that my actions are Undergraduate Association. This organization country’s high-tech sector. In Malaysia, a visit to a meaningful. I am sure that even beyond gradua- taught me so much, and I enjoyed contributing paper mill offered lessons in sustainable manufac- tion, I will have many more stories to put on paper. The workshops I’ve to this student tradition. BWUA felt like a high- turing. In San Francisco, I met with extraordinary taken reinforced that growth startup: I raised capital for our group, mar- Wharton alumni, executives, and investors work- Adedotun R. Adejare W19 is a senior from keted several events, and led career treks to New ing in technology. Through these trips, I saw busi- Albrightsville, Pennsylvania, concentrating in finance so many limitations York to meet with our sponsors and the alumni ness in practice; each one connected to my courses and business analytics. He served as president of the can be overcome with base. Simultaneously, I took courses to build on my on operations and tech and informed me about the Black Wharton Undergraduate Association and as a work, including some on organizational behavior, role of policy, globalization, and finance in shap- contributing writer for Wharton International Business knowledge and a finance, and operations. It was inspiring to see how ing entrepreneurial ventures. The opportunity to Review. He will be completing his master’s degree at willingness to learn. much can be accomplished by a student-run club. engage with industry harked back to the reason I Tsinghua University as a Schwarzman Scholar.

52 wharton magazine spring/summer 2019 Illustration by Michael Driver spring/summer 2019 wharton magazine 53 people / pivot Support the Magazine ’ve been playing sports for as long as I can YourDOWNLOAD connection to all things Wharton. THE News. Ideas. APP People. remember. After college, I recognized the tre- Good Sport mendous impact that the opportunity to play Nayla Bautista WG17 left banking behind to make sports had on me. So while working in finance an impact on kids’ lives through athletics. operations at an established investment bank in New York City, I volunteered to coach a middle-school girls’ basketball team. Watching their skills and confidence develop made me realize that I wanted to dedicate my career to provid- Iing opportunities for kids to learn and play sports. I made the leap to a nonprofit youth basketball organization because I believed in the organization’s mission but saw that it was standing on shaky ground. I made drastic changes to create a stable operation that could support the program’s growth, but I knew I needed more in-depth knowledge across many business areas. That led me to Wharton, and my time there was transformative. I wore many hats at the small organization, and the Executive MBA program allowed me the flexibility to pick the courses that would provide the most benefit. An unexpected lesson came from our Global Business Week in South Africa. Our class visited Philani, an organization that found a sustainable way to provide health-care services and financial independence for moth- ers despite local infrastructure challenges. I had already found my calling in the nonprofit world of youth sports, but Wharton encouraged me to look for ways to expand my impact. Midway through the program, in 2016, I joined Volo City, which provides free community youth- sports programs through adult social sports. I’m the executive director of its foundation, and in the past three years, we’ve grown from serving 120 kids Choose Wharton Magazine Gift Fund. in Baltimore to serving more than 9,000 kids in six http://whr.tn/give-now cities across the country. We’ve also developed hundreds of coaches by training our adult league players who want to impact the next generation of athletes. MAKE YOUR GIFT TODAY! *Receive a Wharton T-shirt when you make a gift of $50 or more. My Wharton experience enabled me to offer more value to the business side of small but rapidly YES! I’d like to support Wharton Magazine with my gift of: $50 growing Volo City than a foundation director might normally provide. Professor Christian Terwiesch’s

BANK Please send me my Wharton T-shirt (circle size) S, M, L, XL* $100 Please make checks payable $100 Applying Operations Management course teaches to Wharton Magazine. the importance of standardizing what top-per- I would prefer not to receive a Wharton T-shirt $250 forming employees do to get results. So when I Name:______Other: $ approached each of our markets to integrate programming, I was also able to facilitate conversations Address:______about operational best practices between the cities. Send to: These conversations with city directors helped City:______State:______ZIP:______Wharton Magazine make our organization more efficient. Email:______In helping Volo City grow from startup to sus- Attn: Magazine Support tainable, it’s been powerful to see firsthand what Credit card: MasterCard Visa American Express FMC Tower, Suite 500 kind of impactful change is possible. We want to live in a world where every child has the opportunity to Card no.:______Exp:______2929 Walnut Street play sports. The Volo City Kids Foundation will con- Signature:______Philadelphia, PA 19104 tinue to provide free, high-quality youth programs

until that hope becomes a reality. —Nayla Bautista WG17

54 wharton magazine spring/summer 2019 Photograph by Stephanie Diani spring/summer 2019 wharton magazine 55 people / cohort

3 1 Mikhail Oza WG20 Vice President 5 Cracking of Partnerships 2 2 Vaibhavi Gangwar WG20 4 Vice President The Code of Member Education This new MBA club aims to bring tech novices and experts together to build software and their skill sets. 3 Anthony Farias-Eisner WG20 Vice President of Member Education

4 Kahini Shah WG19 President

5 Rishi Dutta WG20 1 Vice President it started with a simple question. In the fall of 2017, a classmate asked me how of Finance he could learn the basics of software. He felt that having even a broad understanding would give him an edge in his investment management role. “Maybe I should join the Coding Club,” he mused, to which I replied, “I don’t think there is one.” What he said next was unexpected but made perfect sense: “You should start one.” That was the genesis of the Wharton Coding Club, which provides a forum in which MBA students can come together and learn about building software. Roashan Ayene C12 ENG12 WG19 and I launched the club last spring after seeing the enthu- siasm and desire among our classmates to broaden their skills. How do you build a website? Create statistical modeling in R? Spin up a cloud server? We wanted to create a community in which to discuss these topics and more. Our members have diverse experience levels, and we work hard to ensure that beginners feel welcome. The club also represents a wide range of careers—we have consultants, bankers, and entrepreneurs, among others. Our most popular offerings include hands-on workshops about machine learning and the Python programming language, as well as guest speakers such as Christine Hurtubise C08, vice president of data science at Stash Invest. We’re a new organization, and much like a startup, we’ve had to pivot several times after early disappointments. One example was the idea of creating “Coding Teams,” with four to five students working together on a common learning objective. While coding is a collaborative pursuit, our team-activity concept didn’t catch on. We continue to collect feedback and learn from each experience to build the most useful and robust programming possible. Now in its second year, the Coding Club has grown from 50 to 150 members. We have some ambitious goals for the future, including the launch of a Hackathon and our own Startup Challenge. We’re also working on creating deeper ties with the burgeoning technology ecosystem at Wharton, including a “Women in Technology” panel in partnership with the Wharton 22s and the Vice Dean’s Diversity & Inclusion Fund this spring. Because technology plays an increasingly critical role in every industry, it’s an exciting time to lead a tech-focused student club at Wharton. We’re looking forward to introducing more students to the world of coding, whether they’re hoping to gain a competitive edge in their careers, learn a new skill, or just have fun flexing a different part of their brains with like-minded classmates. —Kahini Shah WG19 (with Anthony

Farias-Eisner WG20)

56 wharton magazine spring/summer 2019 Photograph by Colin Lenton spring/summer 2019 wharton magazine 57 To the Frontier Final Return By David Gambacorta have heard about). alumnus Wharton you may billionaires (including one few a of ambitions the of and private industry, ingenuity the stars, the among tourism for potential the by fueled begun, has era of exploration new space thrilling a Now, support. NASA appeared to be on life to seemed be fading, and in what lies Earth beyond interest public ago, long Not 58 wharton magazine spring/summer 2019

nasa Ocean in January. Ocean Indian the above roughly 258 miles Space Station International the to attached SpaceX Dragon We Have Liftoff: ometimes the program went dark. Some observers NASA and the smallest things, wondered if the country had lost the fire German Research Centre for like an innocent that had fueled the space race decades Geosciences question posed earlier. Instead of craning our necks launch the GRACE-FO during a chance skyward, we became preoccupied with spacecraft encounter, can looking down to the devices in our hands onboard a SpaceX open a universe of to be dazzled. Perhaps humanity had Falcon 9 rocket from Vandenberg unseen possibil- boldly gone as far as it could. Air Force Base ity. Peter Hughes The hand-wringing proved to be in California in GEX04 discov- premature. Fifty years after Apollo 11’s May 2018. ered this first- lunar landing, the space industry is now hand when he was in the middle of a stunning renaissance, close to finishing one so fluid and fertile that analysts pre- his bachelor’s in dict the industry’s economy could be computer science worth a trillion dollars within the next at the College of 20 years. (Investors have sunk more William & Mary than $18 billion into commercial space in Williamsburg, Virginia, and met an ventures since 2009.) But unlike in the alumnus who worked in government. 1980s, NASA is sharing the skies with Over some small talk after a school a wide array of partners and compet- basketball game, Hughes explained itors, from visionary billionaires like Sthat he’d just taken a course in artifi- Elon Musk C97 W97 and Jeff Bezos to a cial intelligence. Intrigued, the older growing number of foreign governments man asked: Would you be interested in and scrappy startups. Their goals are working for NASA? as varied as the stars themselves: tour- Hughes’s first impulse was to say ism, small satellite constellations, lunar no. He already had some job leads in bases, even the colonization of Mars. the private sector that promised good And the call to venture beyond Earth is money. It was 1985, and NASA was as strong as ever, especially for those in more than a decade removed from one the space business. “Once you see your of the defining human achievements of own stuff in orbit,” Hughes says, “you the 20th century: the moon landing. But get space fever.” the agency was again making headlines with its nascent space shuttle program, so Hughes decided to hedge a little. “I went to work for them for one day,” he Ch-Ch-Changes says, “and I thought, ‘God! How can I turn this down?’” In the 34 years that n an especially hot followed, he rose to become chief tech- September day in 1962, nologist of the Goddard Space Flight President John F. Kennedy Center in Maryland and experienced visited Rice Stadium in the giddy thrill of seeing his behind- Houston and made a stir- the-scenes work play a role in success- ring pitch to 40,000 spec- ful space missions. tators about doing the Hughes had a front- impossible. He argued that America row seat to triumphs, Oneeded to commit to sending astronauts like the 1998 launch of on a 238,000-mile journey to the Moon the International Space and find a way to get them home safely. Station, and tragedies, This mission was meant to inspire like the fatal Challenger humanity, but it also required the gov- and Columbia space ernment to spend billions of dollars in shuttle disasters. the name of solving grand mysteries of At some point along the universe. “I realize that this is in the way, America’s some measure an act of faith and vision,” fascination with space Kennedy told the crowd, “for we do not travel and exploration now know what benefits await us.” began to wane. In 2011, In the ensuing decades, it was diffi- nasa/bill ingalls nasa/bill

Peter Hughes GEX04 NASA’s space shuttle cult to envision NASA’s dominion over

60 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 61 space travel ever being challenged, as revenues could reach $1.1 trillion or more in 2010, but that trip missions that seemed the agency notched one era-defining “We’re on the cusp of something by 2040. The investment giant noted that saw him experience uncertain a decade technological achievement after another, that we’ve been after for a really 2019 would be a pivotal year for key mile- the sort of stomach- ago. “We’re on the from the rise of the space shuttle pro- stones in the public and private sectors churning, white- cusp of something that gram to the launches of the Hubble long time—several companies and held a summit in New York City for knuckle dread you we’ve been after for a Space Telescope and Mars Pathfinder. leading companies and investors to dis- can normally only really long time, and But during the mid-to-late-1990s, hints flying people into space on their cuss hot-button issues like the proposed find in Hollywood that’s having several began to emerge of an approaching sea vehicles,” says Garrett Reisman. U.S. Space Force and the evolving capa- films. companies flying peo- change. NASA faced the specter of steep bilities of China and other countries. Reisman was ple into space on their budget cuts at the same time a handful of “That’s a huge step forward.” Some investors were attracted to the encased in a bulky vehicles,” he says. private companies showed that they, too, promise of nimble startups that might white space suit—the “That’s a huge step could launch rockets into space. Then, in one day be gobbled up by Boeing or one that looks like a forward.” The fact that 2002, the arrival of a new space age was Northrop Grumman. Others, though, recliner with arms Raj Shah WG09 two of those missions announced by Musk, who reportedly were simply fascinated by the twists and legs—as he began will be private-public invested more than $100 million of his and turns of a multibillion-dollar com- working outside the ISS, tethered to a partnerships—SpaceX and Boeing each fortune into the creation of SpaceX. petition between three space barons. robotic arm the diameter of a telephone teaming with NASA to send astronauts The California-based company set ligence officer. The newly christened of Defense Ash Carter in 2016. He was pole. His partner unplugged some elec- to the ISS—is all the more remarkable. out to do, well, everything: build rock- Wharton Aerospace Community hosted tasked with serving as a liaison between trical cables, inadvertently causing all “Where we are now,” he says, “is a really ets, make it cheaper to launch cargo a few dozen recruiters at its first confer- the Department of Defense and Silicon the computers on the station to crash. good place.” into orbit, and ultimately achieve what ence in University City. Valley startups; the existence of his role Starman The robotic arm that was supposed to So where do we go next? Musk would later describe to students Now the conference attracts several was an acknowledgement that when pull Reisman back to safety? That went at Penn’s College of Arts and Sciences hundred people from a wide array of it came to matters like artificial intelli- n paper, this all seems dead, too. Reisman was stranded on the as “the super holy grail situation … that employers, including NASA, Boeing, gence, automation, and space explora- fairly easy. Get the bright- arm with only a pair of waist tethers we would play an important role in mak- Northrop Grumman, and Lockheed tion, the government was no longer on est minds in the public and between him and a one-way ticket to the Moon-Age Daydream ing life multiplanetary.” He was talking Martin. “People see the power of the net- the cutting edge. “We worked with a lot private sectors together, cosmos for 45 long minutes. “I guess I about Mars, of course. Musk imagined work,” says Langman, who serves as the of young companies that were focused on mix in mountains of capital could have jumped,” he says, “but you I can’t think of anything transporting humans to the Red Planet, corporate senior director of strategic ini- the new space era, from launch to pay- and some careful planning, might miss, and then you’re having a more exciting than going where they could begin the historic task tiatives at Thales USA, Inc., a multina- loads to satellites to data aggregation and and boom: The Jetsons will really bad day.” out there and being among of colonizing another world—a goal that tional company that provides aerospace analytics,” Shah says. “Traditionally, finally start to feel like a documentary. He returned to terra firma and joined the stars.” Those are Musk’s sounds as audacious now as Kennedy’s and military services to governments most of these companies were told not OGarrett Reisman ENG90 W90 knows SpaceX in 2011. Three years later, as words, underpinned with the casual moon-landing speech once did. and private firms. to work with government. We had to better. He’s worked where billionaires the director of crew operations, he was confidence that typifies his Tony Stark- In 2003, Ellen Chang C88 WG98 and For proof of how far Wharton bridge that divide.” dream of going. “Nothing,” he says, “ever tasked with certifying the company’s like persona, on a portion of SpaceX’s Michael Langman WG98 hatched a plan Aerospace’s reach extends, Langman Under Shah, the innovation unit goes exactly according to plan.” Dragon 2 spacecraft, which will be used website that outlines some of the com- to put Wharton on the radar of the grow- cites Raj Shah WG09, a former F-16 pilot awarded $200 million in contracts to Reisman grew up in Parsippany, to send astronauts to the ISS. Working pany’s most ambitious plans. ing aerospace industry. “Ellen and I just in the U.S. Air Force who volunteered at 70 companies in two years. (He left the New Jersey, and dreamed of becoming with Musk proved to be eye-opening. Since founding SpaceX, Musk has said, ‘Let’s form a club, hold an annual one of the community’s conferences and Department of Defense in 2018 and an astronaut from an early age. But it “He’s super exciting, super intense, and excelled at reigniting public interest in conference, and try to attract some later went on to be appointed managing co-founded a cybersecurity startup.) wasn’t until he was a student in Penn’s very demanding,” Reisman says. “He “space exploration, generating headlines interesting people,’” explains Langman, director of the Defense Innovation Unit He sees public-private partnerships as a Jerome Fisher Program in Management doesn’t compromise much on his vision, with his vision of colonizing Mars— a former U.S. Army Paratroopers intel- Experimental under then-Secretary critical part of the Defense Department’s and Technology that he realized his so the onus is on you to make it happen. with as many as a million people in the future. “The traditional military- childhood fantasy wasn’t so far-fetched; And it’s not like his vision is modest.” next 40 to 100 years—and a vow to fly industrial-complex approach was to use his engineering studies were imparting Reisman now teaches human space- Japanese billionaire Yusaku Maezawa very bespoke, exquisite satellites that knowledge that could come in handy flight at the University of Southern and a group of artists on a loop around Out-Of-This-World Ambition: SpaceX are amazing, but they’re prohibitively in space. California but came the Moon in 2023. founder and expensive,” Shah says. “Commercial NASA selected away from his seven But Musk isn’t the only billionaire CEO Elon Musk space companies can offer satellites that Reisman as a mis - years with the com- with bold ideas. Two years before SpaceX C97 W97, left, speaks with NASA are a lot cheaper. They may not be as sion specialist in pany believing that was formed, Amazon founder Jeff Bezos astronauts and powerful, but you get a great value.” 1998—the beginning Musk is as concerned quietly founded his own private space an administrator Chang, from her perch as a principal in front of of a 10-year journey with saving Earth— company, Blue Origin. Bezos initially the SpaceX with BMNT Partners—it works with that would culminate with environmentally said little about his plans; now, however, Crew Dragon national security agencies and start- with him slipping the friendly endeavors he openly discusses his interest in form- spacecraft at the Kennedy ups—has seen investor interest in the surly bonds of Earth like Tesla—as he is ing a partnership with NASA to build a Space Center in space industry grow during the past sev- aboard the space with reaching Mars: lunar lander that could carry five tons March. eral years. “In 2015, there were maybe a shuttle Endeavor and “He does not view of cargo to the Moon, and he theorizes dozen [venture capital firms] investing in then spending 95 days Earth as some dispos- that heavy industry and manufacturing the space sector,” she says. “Now, there’s living and working able planet.” could eventually be done in space, leav- about 100.” Last year, Morgan Stanley on the International Reisman is also ing Earth as a mostly residential habitat. issued a report on financial opportuni- Space Station. He unapologetically awe- To help keep Blue Origin afloat, Bezos

ties in the space industry, predicting that kowsky nasa/joel returned to the ISS Ellen Chang C88 WG98 struck by looming has reportedly invested a billion dollars

62 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 63 Weightless While may soon pose a real threat to life as we You Work: During “Private industry taking know it. “I’m surrounded by scientists his time as a NASA astronaut, risks to increase access to who study this and say, ‘This is a prob- Garrett Reisman lem, Peter,’” he explains. “Mars used to ENG90 W90 floats on the middeck space frees up our resources have a water-based surface. Look at what of space shuttle happened there.” Atlantis in May so we can put them into It’s one reason he welcomes the grow- 2010. next-generation technology,” ing role that private companies are occu- pying in space exploration, a half-century says NASA’s Peter Hughes. after Neil Armstrong made his giant leap for mankind. “The fact that we have private industry taking risks to increase access to space frees up our resources so we can put them into next-generation technology,” Hughes says. “We’re getting out of a business in which the pri- professed interest in mining asteroids getting into analysis and using machine vate sector excels.” On a practical level, for rare and valuable materials. learning to help you make sense of the private companies have flexibility for Reisman wonders if the current mix images. A whole ecosystem is being built, trial and error that government agencies of private companies and government and it’s affordable for the masses.” don’t. If NASA built a rocket that failed agencies will change over time. “Which during a trial run, Hughes muses, “We’d model will prevail?” he asks. “If we’re spend months with congressional panels talking about building ships to go to having to explain what happened.” the Moon and take people to Mars, will Life on Mars? NASA acknowledged as much in a it be public-private, with heavy NASA plan it submitted to Congress last year involvement, like now? Or purely com- ike a lot of people who outlining its vision to revitalize and mercial endeavors? That’s the hundred- live and breathe the space sustain the agency. Its priorities ranged billion-dollar question.” industry, Reisman has a wish from establishing a permanent pres- Its answer will take some time to sort list of achievements he hopes ence on and around the Moon to using out, according to Ellen Chang. “From to see in his lifetime. Sitting at a robot to collect samples from Mars as the billionaires’ perspective, these sto- the top: the start of a perma- a precursor to crewed missions there in ries keep everyone excited,” she says. nent settlement on Mars. the 2030s. Spaceflight activities in low- “But from a business perspective, some The two decades astronauts have Earth orbit, meanwhile, would largely of the things the billionaires are funding Lspent working on the ISS have helped become commercial affairs. a year in the company by liquidating test unfair by exerting huge amounts of Russia since the space shuttle program are still aspirational. Venture capitalists NASA understand how to address some The agency is also preparing for shares of his Amazon stock. influence on key politicians.” ended. (NASA also plans to have astro- aren’t funding these types of things.” of the physical obstacles that arise from the 2021 launch of the $10 billion James Musk and Bezos were soon joined In December, a pair of pilots flew nauts make the same journey on Boeing’s Chang and Langman see more invest- spending extensive amounts of time in Webb Space Telescope, which is 100 by Richard Branson, the British billion- Virgin Galactic’s SpaceShipTwo rocket Starliner spacecraft sometime this year.) ment opportunities and real-world appli- space. Others—like how Mars-bound times more powerful than the Hubble aire who added the spaceflight company plane 51.4 miles, to the edge of space, In February, SpaceX launched an Israeli cations for companies that specialize in astronauts would respond to prolonged and is slated to spend a decade studying Virgin Galactic to his empire in 2004. indicating that the company is now close robotic probe to the Moon—the first pri- small satellite constellations. Langman exposure to radiation and cosmic rays— the universe’s past in hopes of aiding Compared to Musk’s longing for a mis- to being able to deliver on the space treks vately funded moon launch, just a month cited a number of possible uses for sat- are still unclear. Chang believes a return humanity in discerning its future. “It sion to Mars, Branson’s aim was more it has promised to an estimated 700 cus- after China successfully sent its own ellites that are roughly the size of toast- to the Moon is more likely than a trip to will help us better understand the age modest: to send paying customers on a tomers, each of whom has plunked down probe to the Moon—and planned to use ers instead of school Mars. “It’s not like we of the universe, dark energy, and how suborbital flight that would allow them about $250,000 to become a space tour- its Falcon Heavy rocket to send a Saudi buses: Anything can be launch and we’re at galaxies evolved,” Hughes says. “And it to experience weightlessness and briefly ist. In January, Blue Origin successfully Arabian communications satellite into monitored, from mili- Mars,” she says. “It’s will better analyze exoplanets and their view Earth from space. sent its reusable New Shepard rocket on orbit. The company is also slated to begin tary operations to crop launch and we ride atmospheres to see if they have the build- The three founders acknowledge an unmanned 66-mile test flight and pre- test flights of its Starship prototype; the growth, humanitarian and ride and ride. Our ing blocks of life, to help us answer the each other’s companies only in passing. dicted it, too, would begin sending space massive stainless steel rocket is expected crises, and the parking bodies aren’t designed question: Are we alone?” “I tend not to focus too much on the com- tourism customers on short flights later to one day carry astronauts to Mars. lots of shopping malls for it.” Hughes pauses for a moment, letting petition,” Musk told Wharton Magazine this year. Other private companies are also to gauge quarterly Peter Hughes, back the weight of that premise—of the awe-in- in 2010. But he is very much aware of Musk and SpaceX, meanwhile, are set aiming big. Axiom Space, which is run business. “You can at NASA’s Goddard spiring discoveries NASA, SpaceX, and competitors who might try to, in his to mark a number of milestones. After a by a former ISS manager and ex-NASA buy pictures of these Space Flight Center, so many others will seek—sink in. “For words, tilt the playing field in their favor. historic unmanned demonstration trip in contractors, has designs on building a images for $99. You offers a sobering note every question we answer,” he says, “We certainly have seen that in the space March, the company expects to fly NASA commercial space station in pieces over don’t have to spend of support for Mars “there are 200 more we want to ask.” • business,” he said then. “When you are astronauts to the ISS on its Crew Dragon the next five years, to ultimately replace millions of dollars to missions that reflects fighting big defense contractors and they spacecraft later this year, marking the the ISS when it reaches the end of its run. build your own satel- the mounting scien- David Gambacorta is an investigative don’t think they can win in a fair con- first time that U.S. astronauts have ven- Two other companies, Bradford Space, lite,” he explains. “A lot tific evidence show- reporter at the Philadelphia Inquirer and

test, they will attempt to make the con- tured to the station without the aid of Inc., and Planetary Resources, have a nasa of companies are also Michael Langman WG98 ing climate change a freelance writer.

64 wharton magazine spring/summer 2019 spring/summer 2019 wharton magazine 65 Wharton MBAWharton Reunion! Don’t miss Enjoy dynamiceducationalprogramming featuring renowned faculty Wharton Tap into thepowerful network Wharton andmake new connections Catch upwithyour classmates alumni andotherWharton wharton.upenn.edu/reunion

Notes Class Undergrad— the wedding were 12 1

Kevin, and Lam Ian Martinez WG13Ian Martinez married 68 3 4 13 MBA—

Elaine Chou,

Shin-Yi Lim. 4 72 2 Michelle Saperstein on Whidbey Island,WA, onWhidbey MichelleSaperstein inSeptember. Among thefellow WG13 alumniwhoattended 3 5 MBA for Executives— for MBA

Jeremiah WG11 Marble and Carl Press, Carl 5 1 6

Shash Mody , 6 11 7 7

also celebrated WG12 the couple’s also Andrew DeBerry union. 92

Seena MortazaviSeena , 2 8 9 8 10

Steve Aguirre, spring/summer 2019 wharton magazine 67 11 9

Alzeira PereiraAlzeira , 12 10

David Klein, 13

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 68 55 52 what you are up to. reach outandletusknowplease and would withus, liketo connect this will lead others tothis let others our will class lead receive this note, and I am hopeful firm fortwo years. Itwas to great Waterhouse andworked forthis Price Hejoined American Motors. at MichiganState andworked for degree a up master’s getting ended Armythe US inOkinawa. Hethen inCo. analyst and served as a cost Penn. In1956, Ford hejoined Motor after hegraduated fromhistory nicenote givinga very mehislife wrote me it. M.A. about something hewas to he haddecided going do andthat theirdoings about writes to hiswifethatIalways say noone reads ourcolumnandmentioned lot here in Puerto Rico, here inPuerto lot particularly tunately, we have witha hadto deal are having in the Northeast. Unfor haven’t hadthecoldweather you Rico,in Puerto even thoughwe sharing with us, M.A.! with their lives. Thank you for know whattheyhavemates done sbcglobal.net althouses4412@ Dallas, TX75205 4412 ShenandoahStreet Lawrence W.Althouse ↑ W52ClassCorrespondent Undergrad W66 TEP Reunion wharton magazine spring/summer 2019 It has been aslow winter forusIt hasbeen classmates. If youclassmates. thisread we’ve from received updates It’s timesince some been in Glen Rock, NJ.in GlenRock, Healways out to letus know helives LibienW56reached M.A.

- - 66 [email protected] Bruce Hoffman ↑ W66ClassCorrespondent us. interested in joining York. me know if you Let might be atthePennClubofNewperhaps gatheringinthelate spring, larger Wephoto-op. are thinkingofa Stern C66leftearly, the missing C66 D70. Kessler and Larry Richie Dave Fortunoff, (without hair): Jay Samoff C66, C66. from leftto right Intheback, heimer C66, and Jack Hayflick me (BruceHoffman), ArnieMan hair): front row, from leftto right(with In thephoto, you’ll findinthe oldfriends,andPennsports. lies, ofus are active), still fami (most ber, ourwork we metto discuss [email protected] PR 00934-0125 Box 34125,FortBuchanan, Felix A.Santoni ↑ W55ClassCorrespondent Rico.week here in Puerto Navy inthecelebrationofaNavy are working the US hard to support of the Army,the Secretary and we Army asacivilian aide(emeritus)to continue my involvement with the to our financial get crisis in order.I trying jobof difficult doing a very nia graduate likehisfatherandis aUniversityto be ofPennsylva Inc., &Carrion, whohappens Barros at of my the son board, former boss ofourfiscal isthepresident a star One individual whohasbecome government difficulttime. avery which debt, hasour givenhuge our lunch get-togethers. InDecem continue theirregular and friendsnity brothers of’66The Class TEPfrater Norris Wolff, Steve Marcus, Steve Roth, - - - - -

69 70 Oklahoma Corporation Commis Oklahoma Corporation consecutive six-year term onthe tonation, won asixth election Mortgage Attorneys elected Robin Attorneys elected Mortgage Alumni Weekend, May 17–20. you to see on andhopes classmates regards to hisbest NH. Billsends wedding of Rob C05 and Shelley in GNu17, andenjoyed thewonderful ter ofRichC09andKristen Nu09 time to for thefirst Taline, daugh and Bill are grandparents Marylea up theworld’s game, golf. cruelest andtravel, (abstract), andhastaken painting (free-form), sculpting well asmany Heenjoys gigs. other andtheUnion as League, ing Arts, forthePerform the KimmelCenter year,per at the Academy ofMusic, Club, three concerts whichmounts the city. with He the sings Orpheus phia andare thoroughly enjoying six times. The 2018 election will The2018 election six times. Republican statewide elected to be onNovembervotes 6. Heistheonly sion, receiving ofthe 60percent [email protected] Robert H.Louis ↑ W69ClassCorrespondent compliance.and regulatory commercial credit transactions, consumerand banking, mortgage a broad of matters involving range licly and privately on heldentities pub and other companies, services diversified financialcompanies, banks, insuranceHe represents industries. and financialservices relatingmatters to estate thereal andregulatory tice ontransactional hisprac group andconcentrates chair ofRobinson+Cole’s finance is Roos AZ. 13 in Tucson, October at the ACMA’s on annual meeting 2018-19 term. Mr. was Roos installed forthe president-elect asits to serve lawyerson+Cole Norman H.Roos and Marylea moved to Philadel and Marylea International (praginter.com). Bill those I playedthose with.” hockey to all ofmy especially classmates, next chapter in life. wishes My best retiring forward andto looking the years, for28 Iampublic health inover andbeen decade thepast inSpokane, WA, agency health Havingtime flies! thepublic led The American College ofThe AmericanCollege From utility commissioner intheutility commissioner currentlongest-serving AnthonyBob , already the ing with his firm, Pragmatics ing with his firm, Pragmatics consult butstill semi-retired is Schmidt William M. Torney Smith: “How the ------71 72 operations committee, whichoveroperations as chairman of the as well as serve to sitontheboard Meyer continues chairfortheKravisboard Center, six years as the second After serving to theKravis mission. andits Center that is a hallmark of his dedication withaphilanthropic spiritleader theepitome ofacivicrepresents Chairman MichaelBracci.Meyer Kraviscampaign, announced $2 millionto capital thecenter’s giftintheamountofa leadership hasdonated the PerformingArts, groups. groups. investment, anddevelopment including finance,committees, on other and hasCenter served attheKravisfounding member 2020 fortheKravis theconstruction sees effective. race, as new term become limits mark Anthony’s commission last his pretty remarkable lifestory. in2019. to open which isscheduled renovate Penn’s facility, squash fundingforand to raise the effort a gathering that energized Squash, celebrationforPennanniversary in 2003. planthe125th helped Page Squash’s chiefexecutive first officer US andlater became several times board Squash on the US has served play.Ivy League Since Penn,Page record in including anundefeated record over his finaltwo seasons, a15–3 yearsenior andamassed team duringhisthe Pennsquash captained Page All-Ivy selection, first-teamtive A three-time titles. Harvard’s offive streak consecu Trophy year, thatsame halting thatwonPenn team theSix-Man history. Hewas ofthe akeymember ual national champion in program thethird individ just becoming TrophyPool in1971 asajunior, Jacksquash, Wyant, won Page the according to Penn’s of director Hall ofFame. A “force ofnature,” Penn men’s intheCSA program as the only two players from the 16.ruary Ned Hejoins Edwards C81 Championships onSaturday,Championships Feb Men’sat theCSA National Team matchesprior to thesemifinal of the2019 Hewas class. honored checked inwith checked Alan Scharf Raymond F. Kravis for Center ously chairmanofthe board MeyerWilliam A. , previ ciation’s HallofFame aspart Asso Squash into the College Palmer Page was inducted project. He also serves asa serves Healso project. ------

capehart far northern suburbs ofPhiladel suburbs far northern metal fabricationcompany inthe asmall precision sheetbought of27he at theage metalworking, knowing aboutdespite nothing his first five afteryears Penn,and around abitduring After bouncing off its 2019 speaker series with series 2019off its speaker kicked ClubofSingapore Wharton one of the highlights of his life.be went it to to Antarctica, reporting 2017, withJudy Evan, andson he exploration, and of polar in history by fascinated the He has long been WoodRobert Foundation. Johnson ofyears at the worked foranumber with his wife, Judy Stavisky, who enjoying life out. He has been sold controls; and eventuallyprocess and including instruments medical variety businesses, ofhigh-tech into reach a its years; expanded phia. Heranthecompany for30 Kim O’Connor W87 W71 Meyer William Norman Roos W69 On January 21, the Penn&On January 21, - 80 78 76 Walnut inUnion School Street Quyen Rovner, worker at a social Adler &HymanLLP, alongwith Balin group atCertilman practice law and securities the corporate gifts, tools, and other gear. andother tools, gifts, Robert everyone,” products, household [email protected] Lisa Brown-Premo ↑ W78ClassCorrespondent accounting. inpublic hiscareer after starting 25 with the firm for has been years, Markviduals andtheirfamilies. to high-net-worth indi services financialmanagementprovides firm Manhattan.The office firmin and multi-familymanagement Inc., der Management, a business Award. Golding Bass abeth to solve it”withtheEliz something aproblem anddo viduals whosee year, for Youth Hope “indi honors Gala. Each for Hope Heroes its Day forYouth by Hope Heroes at dale, NY, were honored as Every [email protected] Bob Litan ↑ W72ClassCorrespondent hoping to attend Penn. withone AmericanSchool, pore graduate thisyear from theSinga Singapore, where histwo will sons muchofhistimein pore. Hespends at conferences in China and Singa London. Yaseen isanactive speaker Forum& FinancialInstitutions in andtheOfficialMonetary Beijing Renmin University ofChinain Institute ofthe national Monetary oftheInter boards the advisory on serves branch.Healso gapore ofChina’s Bank Commercial Sin & fortheIndustrial advisor senior 2014, appointed was subsequently until ofPakistan the State Bank Hopkins. Yaseen, thegovernor of andJohnsHarvard, Columbia, The event from members included on the globalthe impact economy. Road Initiative, trade wars, and and on the Belt speaker guest its fellow alumYaseen Anwar as , partners in , partners Ziegler Brian K. Sayville, NY, Fred Skolnikand 2atLand’s Endin On October partner of Peyser &Alexan ofPeyser partner managing named been MingelgreenMark has manufactures “dronesmanufactures for and whichdevelops tocol, Goldy isCEOofProRobert ------86 85 84 becoming even becoming more as fascinating is admissions The fieldofcollege istremendouslycollege rewarding. helping them discover the right-fit from alloverstudents theworld; work with ninth-to-12th-grade We Counseling. College One-Stop on my consulting business, college recently, I’ll kick it off: so myself haven’t written anupdate Pennfriend!Iwith along-lost knows? Itmay helpyou connect Who andprofessional. personal can shareclassmates in your news, thatyour so updates tinue to send wharton.upenn.edu maria.grazul.wh85@ Maria Grazul ↑ W85ClassCorrespondent [email protected] Bill Heins [email protected] Alan Gluck ↑ W84 Class Correspondents cpfinplan.com.” atrfriedman@ I welcome contact We continueto live inManhattan. Robin, married. andIhappily got together, my longtimepartner, in 2017, after many, many years financial planning.Inaddition, indivorce service with aspecialized alongfor individuals andcouples, comprehensive financial planning toenjoying the change providing Planning LLC(cpfinplan.com). Iam ParkFinancialown firm,Central financial analyst and founded my divorcecial planner and a certified planner. finan a certified I became financial afee-only 2015 Ibecame andOliverChase, Wyman,in sulting atAIG, Deloitte, JPMorgan [email protected] Bill Tamulonis ↑ W80ClassCorrespondent Taylor, 24, and Eric, 23. andhastwo children:Roberta, lives in New York with his wife, insurance, con andmanagement years inbanking,After 25-plus I continue to work (all the time!) in your news and photos. to remember send well. Please Hello everyone, allis Ihope getting busier! Please con Please busier! getting to on, we bego allseem Hello W86’ers! theyears As mates a long-overdue update. update. along-overdue mates thought I’d give my class From Rob Friedman : “I spring/summer 2019 wharton magazine 69 - - - - 87 public andprivate international inworking withshe specializes partner, anassurance in 2004.As GrantThornton Kimjoined Boston. recently founded nonprofitrecently Med founded lawyer and Lewis atMorgan andemergingbusinesses equity Penn and loving it! daughter iscurrently ajuniorat Group. Consulting And Boston my Junelast and now is working at my graduated from Princeton son rapid rate. note, On a more personal atanincreasingly to theirpolicies continueto makechanges schools [email protected] Laurie KoppWeingarten ↑ W86ClassCorrespondent year, letmeknow. Hurrah,hurrah!” attending Alumni Weekend this on campus. If you are planning on ofPAR’86ers lots see (Pennparents) as well … we your need help! Also, I us know if you want involved to be May 2021 andwant you there! Let We are Reunion planningagreat for gmail.com withyour info. contact outtoor reach meatdcblatte@ of ’86) we you so cankeep informed, Class (UPenn page Facebook class can’t signuponour locate. Please We have many too we classmates 35th!!I said A mere two years away. upforour35thReunion.gear Yes, “Fellow ‘86ers!! We to are starting to and we go are nesters.” empty graduation from college. One more traveling after his Asia Southeast inChicago,job andmy isnow son herdreamdaughter hasstarted note, mya more personal oldest to Watch.Florida Companies On Lowe Foundation and GrowFL’s 50 We are one of the also Edward oneinFlorida. turing andnumber sixnationwide inmanufac number we whichmeans are ing companies, on theInc. 444 number ranked WHS has been update, “Sinceourlast Inc., reports: CEO ofWorld HousingSolution, G86 have three daughters. C86 Cohen and Stefanie Levine organizational performance. Steve and andimproveness, personal build leadership, enhancewell and communityorganizations,to trainingintomeditation business itation4Leadership.org to bring Steven isaprivate Cohen David Blatte andRon, president Ben-Zeev office managing partner inoffice managingpartner named Grant Thornton LLPhas 5000 list offastest-grow5000 list Kim O’Connor as the sends this message: thismessage: sends - - - -

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 70 88 91 past 20 years specialized inrepre 20years specialized past in New York, where hehasforthe Scott Utzinger W93Scott and Jonathan in 2009. Pennalums, other Two he co-founded ment partnership an investFund Management, ofCrawfordmanaging partner Heiswith hisfamily inBoston. better.”getting livesght. Our are great andkeep in Lyft andprobably HotelToni we haveon paper biggains some far, we’ve broken even but on exits, So companies. andother mates, investments inLyft,some Post withcompany EquityZen, called at private lately equity through a well. We have ourhand trying been aging family money, anddoing and Bhagvat, Iamretired, man six. Bhagvan, boys, two beautiful three, Wemansion inRoswell, GA. have andmarried living in our new river “My andIare wife, happily Barnali, with his wife and three children. New York’s Westchester County lawyers lives inAmerica.Jerry in azine asoneofthe500leading was by named Lawdragon mag litigation.In2018, Jerry securities investors institutional insenting [email protected] Marci Cohen ↑ W88ClassCorrespondent within the organization. withallteams cross-functionally and team work with the legal ies [email protected] Leslie ShermanCrane ↑ W87ClassCorrespondent as theying grow. complexities stayhelping clients ofshift ahead ating innovative and solutions ensuring Grant Thornton is cre totionship many partner clients, as a rela She serves industries. products and consumer industrial inthelifesciencescompanies of Tilray subsidiar and all its theoversee strategic global growth In her role, Dara will at Coca-Cola. divisionthe legal duringhertenure in roles ofleadership held anumber North Americaand for Coca-Cola counsel andsenior vice president wharton magazine spring/summer 2019 Christopher CrawfordChristopher lives Tarun Narayan Agrawal writes: itz Berger & Grossmann LLP &Grossmann itz Berger Litow at Bernstein partner Jerry Silk is a managing She most recently served as recently served She most atTilray. counsel as general Dara Redler was announced ------94 cannabis industry. Flatiron has oninvesting inthe a fundfocused to formFlatiron Venture Partners, W95 haveStauber together joined [email protected].” friends, whocanreach meatjclif lovely with Penn to reconnect entrepreneurship). Itwould be andstudy chemicalengineering graduation(heplanstoschool and my& Mary) Miles’s son high- physics and philosophy at William birthday 21st (heisstudyingnor’s May, we will celebrate my Con son fellowships/financeleaders). In (agln.aspeninstitute.org/ leaders onfinance run afellowship focused toInstitute launch and the Aspen private Ijoined anddebt, equity viaing inmid-marketcompanies to me!” is “Speak ning. Theanthemforthisinitiative to financialplan management from wealthof financial services, afullsuite executives intheC-suite andwomen owners senior business tiative, atproviding aimed women [email protected] Al Meyers ↑ W91ClassCorrespondent inbusiness. 10thanniversary ing its the venture, celebrat whichisjust in are C92, partners Saunders also announced its Women’s its announced Wealth Ini National Wealth LLC, just Partners July 20. Inaddition,hiscompany, reports: “Afterreports: many years invest Bat mitzvah for Ronen Israel W95 & Mindy W94’s Nagorsky-Israel daughter, Maddy Tamara Totah andRonen Jennifer Clifford Simpson and is getting married on married and isgetting tohe is Rachel engaged Irvin Stefan Whitwell that writes ------

as ourbackdrop. Novem Thispast Gatecisco, Bridge withtheGolden ofSanFran north just married got Camp. thereafter, yes! Isaid Soon we in Nepal, overlooking Base Everest while we were onahelicopter tour inlate 2017a romantic proposal me with Dillon, surprised Harrison my 18 months!past First, boyfriend, inthe muchhashappened as so the category.” entrepreneurs in smart run across are involved incannabis.We love to more,to learn andletusknow ifyou Penn alumni, reach out if you want nabis industry. Theywrite: “Fellow accelerate thegrowth ofthecan oftheiruniqueabilityto because with significant growth potential on innovativefocuses companies a pick-and-shovel approach and mitzvah ofourdaughter, Maddy, in Nagorsky-Israel Ronen Israel W95 ulations at scale.” low-income pop serving solutions innovation incredible we see in to AfricaandIndia,where but also havepanies the US taken me across and opportunity.justice My com science, and ineducation, lenges chal toand engineering address policy, investing, impact making, we acombination of grant use Initiative,Chan Zuckerberg where investments impact leading at the ally, for 4.5 years, the past I’ve been my Pennmomfriends!Profession I’ve many from gotten support so of with him,andI’m grateful forthe WeZander! are completely inlove ber, we welcomed ourbaby boy, Vivian Wu I have newsmyself. some says: “Lots to update, to update, says: “Lots ) celebrated the bat thebat ) celebrated and I (Mindy ------95 lous Michael Jurick PAR22. all!) of us was taken by thefabu not (but of alot below The photo IsraelC22.Israel W20andLeesi Shoshanna andournieces, dents Hurst W96,andcurrent Pennstu W88, Asness W68, Michael Glosserman Stonehill Butterfass WG99, C95, Timberger kelstein Alissa Eric Federman Fin W92 , Jesse Amy Federman Robinson C94, Meyer C96G96, Nicole Jacoby, C94, Moss Spivack C95, Gross Rebell- Debbie ENG98, Perlmutter Finkel C95,Levin Barry Chazin C93,Chazin, Marty Wendy with us in New York: Stacey Wolfe enough to have many Penn grads New York in October. We were lucky August andagainin inJerusalem the pleasure of reconnecting with the pleasure ofreconnecting and I areCamille overjoyed! I had their extracurricularactivities. and wellall doingvery inschool Adelle, Ava, who are and Ashleigh, AydenJohnson. hissisters, joins AydenDecember: Richard-James welcomed in a new babyalso son family moved into a new home. We end of 2018 was quite busy. My Kate, seven, and Eleanor, four.” years, anddaughters Grace, 11, tiful women: Erin,my wifeof14 [email protected] Mindy Nagorsky-Israel ↑ W94ClassCorrespondent writes: “The Biren Johnson writes: “The four smart, amazingbeau four smart, “living inGreenwich with saysMichael Dodds heis Marc SaiontzW95, Stacy , RachelBret Bernstein Brian Hurst, Nisha Cliff - - - -

Daven I Johnson W04ENG04 . have: Yale97 DarinJohnson and onecould brothers out to thebest shout-‘gig job. Special economy’ agent—my estate munity asareal mycontinue com to local support financial manager. Additionally, I working R&D as a contract program his lovely family. I support am still from mewith miles who lives 11 just crash thebirthday ofMoses, party was ableto Ialso holiday season, atmying feast the home. During andThanksgivhousewarming at a us with his presence blessed Gary Hart. andMoses Decoteau and favorite Drexel Gary Dragons: two ofmy oldfraternity brothers Keith DiMarinoKeith W00 W95 Brian Rubenstein W95 Maloy Nicole - - - gmail.com wharton95.classnotes@ Gail ChangShen ↑ W95ClassCorrespondent risks. product associated failing to warn about customers can’t understatelaw sued be for pharmaceutical manufacturers by rulingthatgenericindustry inthe change Pliva asea created decision Supreme US Courtmark 2011 played acriticalrole intheland at notably Teva,matters, where he ofcomplexlarge-scale in defense He has a broad of experience range counsel. general was anassociate Teva Pharmaceuticals, where he wealth of experience, coming from office. thefirm with a Brianjoins a shareholder Philadelphia inits BrianRubenstein as LLP added Traurig tion Greenberg team, litiga expansionofits strategic to behavioral care. health access to increase butalso comes, inpatientout positive impacts onlyability not to make significant accelerate Tridiuum’sand further expansionthat willenablestaff a $9.5 Bfinancing millionSeries basis. Tridiuumhasannounced to onatimelierhealth patients help cliniciansprovide behavioral to efforts and intoits health total for integrating behavioral health his company’s innovative platform Dan Loney,With host he discussed 18. onDecember edge@Wharton on SiriusXM’sfeatured Knowl companyhealth Tridiuum,was (#BeWellPenn95). in2019 health orsocial emotional, inyourprogress physical, mental, andto commit to making self-care on yourreflect andown wellness union year, we you challenge to details. Meanwhile, inourpre-Re n95Reunion, and stay for tuned @Pen and Instagram on Twitter *2020* from May 15–17. Follow us REUNION over AlumniWeekend SAVE THEDATE FOROUR25TH (!) of ’95,all undergrads in the Class as your to so Reunion co-chair, isproud toPractice. Shealso serve & Policy ofSocial vania School from theUniversity ofPennsyl summer last nonprofit leadership completed her in master of science double Red & Blue alumna, having ever.” uncles the best proudam very ofthem.Theyare Continuing the steadyContinuing and RedlusMark , CEOofdigital Nicole C.Maloy is proud a to be Pliva, Inc. v. Mensing. ------00 96 digital media andfinancialser digital media York. onthe hasbeen Herfocus in New at Suisse Credit a director Philadelphia’s andtreat research theChildren’ssupport of Hospital Keith’s $25,000 isto goal raise to migraines. fromsuffers pediatric daughter,12-year-old Alexa,who his special: very did it for someone challenge. And he to-Rim-to-Rim for the Rim- 29–30 September test Keith on this took exact DiMarino consecutive DocuVault miles. CEO you’ve never run more than eight percent of boys and 23 percent and 23 ofboys percent by the time children turn 17, eight anddren suffer from migraines, chil ofschool-age 10percent About the world. likethisacross migraines millions of children suffering from unique,tion isnot andthere are that they’re in this together. mountains. Hewants herto know often canmoveperseverance Alexa how endurance, hope, and for him,buthewanted to show and mentalchallengeemotional, and thistrek was physical, a huge endurance athlete by any stretch, to the first tell you thatheisn’t an self. Keithhappy is 12-year-old backto herance, Alexaisalmost endur andpersonal visits doctor Now,nurses. after five monthsof physicians,administrators, and care byextraordinary technicians, arrived atCHOP, whichprovided andfinally systems and health manyhis wifevisited physicians would ever better. get Keith and weren’t sure how to fixitorifshe three months.Doctorslasted foramigrainethathospitalized migraines. ment of pediatric [email protected] Lea-Ann Bigelow-Sherring ↑ W96ClassCorrespondent and around the world. inNew classmates YorkWharton withPennandreconnections whenever shecan.Shewelcomes Asia to Southeast bug and goes hasthetravel Shestill pollution. andmarine onrainforest a focus environmental with conservation anavid ofhas become supporter she ofwork, Outside sectors. vices Unfortunately, Alexa’s situa Earlier thisyear, Alexawas porate development career as developmentporate career as evolving and cor her strategy Falguni hasbeen Desai Canyon over two days when theGrand across 50 miles Imagine running nearly spring/summer 2019 wharton magazine 71 ------02 01 Robles, CA. Both Penn and Univer Both Robles, CA. 8 in Paso on September Levine grant wouldn’t have possi been care,health and housing. The like food, benefits essential access low-income Philadelphians ofhelping mission its to further Initiativeand ChanZuckerberg as a member of its legal, risk, com risk, legal, of its as a member the firm’s Washington, office DC, in Based firm Heidrick & Struggles. [email protected] Aric Chang ↑ W01ClassCorrespondent education. to his Whartonof his success mitment to BDT. much He credits Jared’s Susco andcom leadership ble without Chief Financial Officer migraine. of girlswillhave a experienced Sandy Hsiao ↑ W02ClassCorrespondent City, CA. division. She andEriclive inCulver forAT&T’smanager entertainment floor. marketing Danielle isalead at thewedding—and onthe dance sity ofMiamialumnirepresented WG02 includeSteveAdvisors White (havencoliving.com).wellness and on health ing venture focused Haven,startup: acommunity-liv profit, and quasi-public companies. technology,life-sciences, non health-care, serving particular in sectors, across leaders affairs and government counsel general onplacing Davidpractice, focuses pliance, andgovernment affairs Danielle Lewin W02 Lewin Danielle married Eric married Danielle Lewin has begun hisnext Katz hasbegun Ben the Rockefeller Foundation awarded $1millionfrom was DataTrust Benefits at leading executiveat leading search was promoted to principal In January, David Burd Brent Leffel and Brent Leffel WG02 . ------

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 72 05 03 12 Jenny Fan graduates in May School. He is based in Los Angeles. inLos Heisbased School. WashingtonGeorge University Law by Review Concurrences and nized [email protected] Alexis Decerbo-Volpe ↑ W03ClassCorrespondent execution, and financing. project innovation models, inbusiness force withaproven trackrecord of well underway aglobal to becoming Sterlite isexcellence inproducts, lar foray into Brazilandcontinued to spectacu its transmission sector the company’s into theIndian entry leadership. From theearlydays of Power and Pratik’s unparalleled ofSterlitethe incredible journey 2018. to Thishonorisatestament tigious “40 for list underForty” upenn.edu Sandy.Hsiao.wh02@wharton. the Writing Antitrust Award, orga and monopsony. He is a winner of monopolization, vertical restraints, practices, exclusionary vertical pricefixing, including horizontal matters, antitrust and competition in to principal.Danielspecializes ofDanielpromotion Schmierer testimony,expert the announced John Boyce Jr. WG51 & his sons & his Jr. WG51 Boyce John wharton magazine spring/summer 2019 On the education front,On theeducation impress. to continues of2012 ate Class undergradu The Wharton in the EconomicTimes’s pres at Sterlite Power, was selected , groupPratik Agarwal CEO and financial consulting and providerleading ofeconomic a Research, Cornerstone - - - -

[email protected] Rajit Malhotra ↑ W12ClassCorrespondent Havenchild, Maise Hamscher. welcomed theirfirst C12, Hamscher Hamscher andhiswife, Allison andinSeptember,son, Matthew welcoming Neil hisson, Thomp a father, became Thompson alumni into theworld. Gordon Whartonbatch of(potential) PredictiveApplied Technologies. atand Michaelisavicepresident owner atFarfetch product senior live where Arielleisa inLondon, . Arielle and Michael nowW13 Rose Kozar Xu, and Lucy W13 W09, dance Mitch VanZandt included Fellow alumni in Wharton atten met 10years asclassmates. ago in Mallorca,married Spain, having and InMay,Alberta. ArielleLafuente summer thismarried past in Banff, and team, ofthePennmen’scaptain tennis Phil Lawthe knot! , previously venture capitalists. often are overlooked by traditional that formative andprojects people groupan angel to invest intrans places, at Evolent Health. andinnovationof clinicalstrategy Heagement. is working as director man with his MBA in health-care (again) fromgraduated Wharton Jamesing program. Calderwood Engineer the in Design Master from Harvard’s of class second Others haveOthers brought the next haveAnd afewclassmates tied new financeto bold Pushing were Michael Paolini W09 were Ercole Volonnino W09, Andrew Dunn were Pallavi Thatai were has started has started - - - - -

51 56 to work withhisfatheratWil to hishometown ofAmarillo, TX, Johnating from returned Wharton, Upon gradu of person. of this type John Boyce Jr. example was a good Academy atWest Military US Point, their country. agraduate ofthe As ing a post-warstrong economy for MBA [email protected] Myron Weiner ↑ WG51ClassCorrespondent at the May 18 Reunion dinners. year, theawards announced willbe tions are awarded year. each This the Crandall CitaChallenge efforts, they retire. To these acknowledge years and when their professional during munity organizationsboth their time and know-how to com volunteer graduates that Wharton Reunions, discoveredtheir 45th that haveall WG classes celebrated Society, of members which includes enjoy day every with his peers. thathecan andactivities programs thecommunityoffers ive services, providing of support a full range Manchester, CT. Inadditionto moved into a life community in DabrowskiCharles recently Williams-Boyce. at themore-than-a-century-old ontraditionwhom are carrying ofWilliam, andJohn III—several Peter,his foursons, Beaumont, arewith John below inthephoto after graduatingin1951. Pictured Club ofAmarillo, whichhejoined attendance attheRotary perfect John was celebrating67years of of his 94ththe occasion birthday, a Silver StarinWorld War I.On was awar hero, having received in 1904. founded agency His father liams-Boyce Agency, aninsurance energy and knowledge toenergy andknowledge build they were ready to turntheir from Wharton,graduate degrees Withtheirnewlyforces. acquired armed intheUS who hadserved Latvia, since the Baltic states sincetheBaltic Latvia, The Wharton Graduate Emeritus Graduate Emeritus The Wharton Like many intheWG51 class, classes included graduates included classes 1950s, ofWharton anumber In thelate 1940s andearly his house inMežaparks,his house the finalword this year on Ivars Avots hopes to have hopes ------an apartment in downtownan apartment Stam home in North Stamford, CT, to in 59years from theirsuburban Edie, time moved forthefirst structure. that he can build a new, modern from the tax rollsistent house so delays to remove thenow-nonex further existed—caused still house the foundationmeant ing damaged whetheraremain views—about 2018, but and bureaucratic rules inApril camedown atlast house Therequiring muchpaperwork. andhistoricalvaluetection rules, down butran intothe house pro Ivarinhabitants, to tear decided former by its caused in thehouse onconditionslived there. Based claims even though they no longer removed to be from theirbribes ofwhomwanted some inhabitants, of former Soviet-era to rid the house Latvian courts years offightingin Unionthe Soviet andfollowing 15 from theirindependence regained many attheWharton classmates nia, andNew Jersey. to see Ihope day celebration. forward tolooking a active andare incommunityaffairs NC,where theyarein Pinehurst, are enjoying retirementIsabel, any organizations. about of these him to area contact ern California welcomes any ofthem intheNorth active will be in andWGES class ofhis more members He hopes Steering Committee.tus Society Graduateof the Wharton Emeri group,Grapevine and a member app’sof theMeetup SanFrancisco of Northern organizer California, ofthePennClub and issecretary applicants ing PennandWharton company. He is busy interview having hisNew sold York computer home in San Francisco, after active for five years in his new conveniences. and other theaters, stores, is near tasksand time-consuming or other ford, whichchores has no outside England, Virginia, Pennsylva My family is spread out in Brazil, bring thetotal to 36since2007. England. Summer2019 should Philly, New York, New Jersey, and from withtop performers picnics Worcester jazz again.I’ve hosted Middlebury,Grafton, MA; VA; and years, inWorcester after stints and NJ,lived inMoorestown, for47 Fred andhiswife, Goldstein I, David andhiswife, Oppen veryCliff Leventhal hasbeen C. DeWitt PetersonDeWitt , have big 90th birth ------64 58 57 will too! For those interested innos interested Forwill too! those friends and a professor. Maybe you a few oldviewing it, I recognized started mystarted own company produc withmyColombia, newwife. I three years. Then I went to Bogotá, [email protected] John Majane ↑ WG58ClassCorrespondent tical companies.” fromchemical drugs pharmaceu However, loves still the McLean two forconferences. different times men to Harvard’s Hospital McLean using vitamins.Ibrought thetwo a new founded natural medication onewith more just to do. and have 20chapters, completed Katie about abook sion. Istarted who haveothers manic depres a suicide. She was brilliant, like company. which I’ve to aCalifornia sincesold farminMassachusetts, egg another company.of alarger Later, Istarted Huevos called Orostill and is part it group. to a local The company is with young hens and sold ing eggs [email protected] Philip Murkett ↑ WG57ClassCorrespondent youtu.be/Tpo1GtbWPys. viewed onYouTube:talgia, itcanbe [email protected] C. DeWittPeterson ↑ WG56ClassCorrespondent the internet. York’s Westchester and on County isnowThe sauce atretailersinNew which and habit-forming. is hot derSnout (thundersnoutbbq.com), son’s sauce, Thun newbarbecue work andfor voice-over his keting, mar editing, doing some has been keting and newsletter for WGES, p.m.noon–3:30 with theOldGuard onFriday at eventthe WGESlunch-and-learn Reunion May 17–18, at particularly “I also met two“I also who Canadians “My daughter youngest had Tom themar Vincent, whodoes during our class year.during ourclass While filmed Penn marketingpiece This Is (1957) Pennsylvania isa 1958, for in I Boston had a job in graduating from Wharton “After writes: Bass George I’m to improve trying MayReunion will be 17–19. Reminder that the 55th ------tional leadership as thefoundertional leadership Feulner’s excep recognizes prize Thought to in Political for Leadership Prize awarded William its F. Buckley Jr. years—in New Jersey.” outmore than50 those sages—or We atravelogue hosted forPenn andUruguay. Argentina, Georgia, ing the Antarctic, Falklands, South had amonth-longvacation visit “AfterThey report: we celebrating, their 40thwedding anniversary. Paul’sbined 80th birthday with Retailer of the Year.” as Retailers Association Shoe byyear theNational were selected awards andlast activities forthese economy.” We’ve received of alot for the environment for the is good public radioallsay, “What’s good to helpoursociety.act adson Our and it’s thateveryone important Itallhasfeltgood, districts. poor new-arrival in centers, and schools shelters, annuallypairs to homeless tomers andredistribute 10,000 from ourcus gently worn shoes since1985.done so We gather also into ourcompanycomes andhave waste95 ofthesolid that percent heavy. too isjust stores We recycle anddeliveringbags, to thebags making the trees, and transporting inchoppingdown created carbon either, bags, the offer paper because in and our don’t stores bags plastic and economy. We have eliminated to improve Maine’s environment and workto to colleges go Maine youngsters to Maine scholarships Westart. provide smallfour-year than half of what it wasless at the is now of sales energy as apercent of cost Our ofourstores. size aswetarget, have the increased us even lower than the 50 percent far.cut so But2019 to bring isset and we’ve achieved a 39 percent by emissions cut2020, in carbon viously committed to a50percent anESOP. Wecompany become pre in charge, and we will have the withusforoverhas been 30years Wegood. have fellow agreat who 1914. “Our is Hewrites: business in hisdadco-founded operation Wellehanat Lamey a retail Shoes, year of fun at 80 and has had a lot information. emailmeyourplease updated emails andwishto receive them, not Ifyou list. contact arethe class The National Review Institute and PaulIsa Allersmeyer Jim Wellehan receiving my semiannual Edwin J. Feulner. The isretiring this com - - - - - 65 [email protected] Ed Lyons ↑ WG64ClassCorrespondent and occasionally edgy!” this book—that it’s fun,credible, thingabout important most “The One revieweron Amazon. writes: Memoir—Almost, isnow available book, of ideas. nology, in the power and believing embracingnewtech institutions, and growing nurturing others, unitingand upliftingespoused: values thatBuckleyhimself a native ofChicago, the reflects career ofThe Feulner, illustrious valued oftheNRI.most partner of Buckley’s and ahouse ideas Foundation,Heritage apower of the president and long-serving Lew Knickerbocker’sLew newest Mars, Inc.,Mars, working inmany more than33years with David hasspent Badger Crocodiles Galore: A Galore: Crocodiles @ron2wilson at theNYSE thismorning. Amazing how we alllookthesamesince amazing company—Gotta get mesome “Got to spend timewiththeamazing Hylete gear! #hylete #whartongrad” B-School B-School catches up with Carolyn SaackeWG95catchesupwith classmate spring/summer 2019 wharton magazine 73 He’s founded another Ron WilsonWG95. - -

and adetermination to use children atschools andteachers astrong spirit among the sensed tourism. They addition to Chinese are making inAfrica, Chinese by the investments the impressed first-rate.absolutely Theywere stayed they ate were and the food where they thefacilities They said countries. these rhetoric about welcomed our despite president’s thattheywereand reported warmly andZimbabwe,Africa, Zambia, South Botswana, They visited and November time. forthefirst Carolyn, were inOctober onsafari in 1966. at Mars hisinternational careerlaunched atPenn research in operations studies His MBA and subsequent grandchildrenseven intheStates. wife, children, three andanese VA.in McLean, David hasaJap and half in thewith States, a home year halfofeach inTokyospending Henow isretired andcountries. Dick Veith andhiswife,

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 74 76 74 73 Second AnnualBBB(Bicycle, Base Second annual arrival ofthenewBeaujo on November 17to celebrate the upenn.edu). Garrett (reunion-weekend.wharton. Geoffreyto thenewdean, meet andfaculty up withclassmates Weekend to catch isanopportunity City to St. Louis. TheCity 2019 to St. Louis. BBB will BBB covered from Kansas 300miles immediately thereafter. The2017 Sox-at-Phillies game followed ofVanceon thesteps Hall.ARed City to of Center finishthe streets delphia. The group through rode ofPhila thatendsnorth Canal Railroadand Lehigh and Delaware bike path along the old Delaware days Trail,arail-to-trail ontheD&L in three PA, and covered miles 185 inWilkes-Barre, 2018 BBBstarted BikeRideEvent. The ball, andBeer) [email protected] Carmen (Jones)Hill ↑ WG74ClassCorrespondent at aWharton gala in September. of for his support Association African American MBAWharton alumniawardguished from the [email protected] Eugene Aaron ↑ WG73ClassCorrespondent in 2019. party Beaujolais MBA is makingplansforaWharton McClain werenections established. other, meteach had not newcon many As MBAs. of 33Memphis-area out nine MBAalumniplusspouses, side underatent. Attending were pool by abartender poured whites andFrenchalong withBeaujolais from acatered buffet, and pastries enjoyed French cheeses, entrées, November. andguests Classmates lais wineonthethird Thursday in [email protected] Dick Rappleye ↑ WG65ClassCorrespondent to anyone. would recommend a visit to Africa andtechnology.computers David wharton magazine spring/summer 2019 received adistin Milton Irvin Memphis-area alumniparty Memphis-area MBA aWharton and hosted organized Gordon McClain from Wharton? MBAReunion years sincewe graduated45 youCan believe ithasbeen Combs WG77Combs heldtheir , Bell In August, Pat, Matlock Tom Bill Killen,andTom Art Art ------79 Lawyers’ Attor Annual Bond 43rd of BondNational Association forward to May 2019. 40th Reunion Committee, looking onthe) are serving C. Schneider , Porter Shannon S. Herzfeld, math teacher atWellesleymath teacher High in the Boardrooms.” Slow inAddingWomen“Progress December was ina quoted Stuart, Spencer of executivepractice firm search theNorthheads American board 7.a new trademark as of December and Pencil,Inc., NY, inMineola, has 15. programonOctober Surveillance Radio’son Bloomberg Bloomberg Jeremyfessor Siegel. financeproShiller andWharton Nobelfeaturing laureate Robert crisis, withakeynote presentation of the financial10th anniversary York. on the The program focused 14ference inNew onSeptember annual con Center’s Jacobs Levy 11. on October Alumni Club of New York dinner ataWharton Impact for Social Award Wharton the 2018 Joseph 26–28. September neys’ Workshop inChicago, IL, St. Petersburg. andendin FL, from Ocala, depart Milton Irvin WG74 (front left) (front WG74 Irvin Milton Separately, the Iattended Elizabeth C.DonovanElizabeth , a former Julie Hembrock Daum, who PaulPen, of Markon Gellman S. wasGary Gensler interviewed Dushyant Pandit attended the Anne Welsh McNulty received , Williams Henry Bonnie Daum, William C.Brouillard, Clara Prevo, and I ( Newsday Jay Einspanier, article titled article Ronald Robert Robert Julie Julie - - - 82 . He wasBlue Boy late, married in housing Thomas Gainsborough’s for theHuntington, themuseum Patton’sGeorge hometown and small city known General for being a inSanMarino, Angeles CA, Los in Belgium. Cup, European Hockey held to be play inthewomen’s GrandMasters Women’sO-60 Team Masters and again onthe the US will represent erlands in 2014). This summer, she [email protected] Robert C.Schneider ↑ WG79ClassCorrespondent year. last nesses of small, busi and medium, large millionworth ofmore than$71 sale broker the helped members these Club.Million Dollar Altogether, to theorganization’snamed 2018 Brokers whoweretion ofBusiness Associa oftheGeorgia members Inc., was among13 thetop seller Services, dent of Abraxas Business Whinney in her earlier career. & andErnst and HumanServices, ofHealth Department federal the Econometrics, for Wharton away 14. worked Betsy onOctober inWellesley,School passed MA, a bronze medal; O-50 inthe Neth O-50 medal; a bronze in Australia in2016, where theywon team Anne playedMasters on (O-45 This was the third Women’s US teams. team came in sixth out of 12 summer in Terrassa, Spain. The Women’sO-55 Team Masters last Don Phan islivingDon outside C. David, presi Chambless for field hockey ontheUSfor fieldhockey Worldthe EXIN Masters Cup Anne Keating in competed - - - - and another daughter in her second daughterand another in her second education, in art ishing amaster’s the West onedaughter fin Coast, whoisanentrepreneur on ing ason have children, adored three includ investingthe impact space. They Pam isworking asaconsultant in markthere. the15-year passing just inPhiladelphia.Hobieis Glenmede sideoffinancewithmanagement he returnedbefore to the wealth ofadvancementhead for14 years as school him to anindependent versary. switch took A mid-career celebratedand just their fifth anni and hiswife, Pam,metatthebank finance andbanking.Heporate & Co. days) these to work in cor Co.anty Trust Chase (JPMorgan Guar tofrom Morgan Wharton Kolakowski; andTom Keffer. Schreiber Chanen in Seattle; 30th Reunion committee; ofthe Philadelphiaaspart outside Reiger AntoianEd inTennessee; Angeles; Chi indowntown Los Wei Angeles; andLos CA, Pasadena, Mike Lundsgaard in ington, DC; Mays Nakashima Wash outside including the years withmany classmates, over has had touchpoints Don the revenue!as long as feed clients i.e.,as longthemarketpermits, years, care. health He plans to work development, 20 and,forthepast technology, hospitality, real estate a multi-faceted career, crossing Daniel andDonovan. hashad Don Halle, and14-year-old twinboys, have daughter, a 19-year-old 1997, to his wife, Hannah. They in New York; Steve Giesecke Hobie went Porter straight in London; Pascal in London; Isbell Mark inSanFrancisco; Mark Jim Grosvenor Gordon Gordon ; Terry Terry Kurt Kurt ------

ment Corp. (rdc.com), that noting atRailroad Develop mid-career to law as a precursor legal school. Michael, 23, isworking as a para fortwoan architect years; and Universitygie Mellon after being atCarne to engineering pursue career; Paul, 25, returned to school fer, 27, media for a social is looking offindingtheirpaths: Jenni stages have three kids who are at various foundation.They art in alocal is retired and heavily involved private space. equity Her husband York inthe asamanagingdirector in New workingtinues at Abbott her architecture practice. ishappily retiredWife Susan from sity, where sheisavarsity sailor. Washingtonyear atGeorge Univer is midway through hersophomore Institute ofTechnology. Theother at theRochesterAmerican Crafts for attheSchool design and jewelry kid isfinishinganMFA inmetals camp in Mexico. much fun! One So vacation recently wasbest atsurf coupleofyearsanother to go. Her private investments, with equity New York, managing secondary its working in is still Capital at Abbott slower! but is a lot and squash active to keep withtennistrying Hobieisyear school. ofmedical Bob Shorb, Dick Wallach, Dan Stauder, & Bill Goldberg WG84 Goldberg &Bill Stauder, Dan Wallach, Dick Shorb, Bob WG77 & Tom Combs WG76, Killen Bill Bell, Art Matlock, Pat Henry Posner hasreachedHenry con Katie Stokel, like Martha, thatshe Cassidy reports Martha ------ventures as part of the Ventureventures as part Men RI, aswell asmentoring startup and Providence, in Cambridge, MA, post-graduate and graduate level is teaching at the friends. Barbara family and to tovisits Stockholm see RI,andtheirregular life inNewport, her husband, Harald, are enjoying toring Services of Rhode Island. In Island.In ofRhode toring Services Mellon ulation at Carnegie on rail dereg undergraduate course an teaches Henry his work at RDC, respectively.keting, Inadditionto andmar railroading, paths: sales, and Gus—have takendiverse career tee. Their children—Hannah, Ida, ontheexecutive commit serves where she Mellon, ing atCarnegie includ of boards, on anumber but active is very Congregation tion as librarian at Rodef Shalom Anne recently retired from herposi since 1982 andlive inPittsburgh. Molloy WG79 have married been University and Anne Henry Press. ers Without Borders covered Railroad in the book was recently story transit. TheRDC recently back to for rail the US andmost railinEurope passenger Americas and Africa to freight and migrated from freight rail in the 100th birthday. work Henry’s has onhis onthejob to be expected be hecanreasonably of 91, the age hisfatherworked untilbecause Barbara KeithBarbara Rosengren and from Indiana . ------84 work on homelessness policy in policy work on homelessness am doingconsiderable research Iside ofphilanthropic activities. andbusinesson theoperations have to a consulting practice assist make whenwoven together. I ventures these I likethetapestry CFO attheHewlettFoundation. ‘graduating’ from my 16 years as I now have ventures, three after work this year has done a pivot. roots.”strong Georgia few years—great company with ingful contributionover thenext to makeamean andhope industry the financial-technology-services forward to about looking learning Inc.of TotalI’m SystemServices, to have the board recently joined that ‘outdoor people’ do! I’m excited doingthings timeoutdoors spend there. To round out my life, I like to out forallyou foodies Rôtisseurs, oftheChaînedesam amember andfinewine love great food oftheSymphonyas part Chorus.I Symphony, and ontheboard both involved withtheWinston-Salem Iam boards, oncorporate serving workingI am not or for Hanes “When of1985.class Shereports: Atlanta, of the JD/MBA is part companies.”health-care ofbroken “fixer” work asaserial and (whatever days) these thatmeans Dan Stauder prisingly, theywere. DickWallach, availablebe for a cold one. Not sur if any tomates see ofthem might [email protected] Helen Fox-O’Brien ↑ WG82ClassCorrespondent tions in Park City, UT. usforskivaca 28, join andBeth, 31, happily running.Daughters Amy, and year-round him keep sailing in Pittsburgh business health-club Pension Fund in New York. Dana’s Church derful client,theEpiscopal my year investing 25th forawon to Dana’sclose Icelebrated boat! O’Brien for lessons! sailing door, opportunities offeringgreat next isjust Island. SailNewport in Rhode sector the life sciences at building aimed several activities isinvolvedaddition, Barbara in Susan KetchamSusan “My writes: Joia Johnson , a native of Dana O’Brien and I, continues to continues Bill Goldberg out to acouple ofourclass fall and last reached Chicago “Iwas Shorb writes: inBob , reside inRiverside,, reside CT, , andIare allretired spring/summer 2019 wharton magazine 75 Helen Fox------occasionally runinto classmatesoccasionally ous after I asoftware upgrade?) don’tindustry; we murder allfeel takeplaceinthetechnology stories Davidson.Maddi Many ofour underthenomdeplumetogether murder stories mysteries and short and writing.(My sister andIwrite working (still guage onHawaiian), years later!” it all these about grateful that I was able to tell him versation on the lawn in 1985. I’m con thank himforalife-changing to Ihadtheopportunity research. current hisfascinating about we foroneandlearned clamored wasn’t to give scheduled but a talk, He are teaching? still students who were whenwe teaching were howReibstein; many professors David withProfessor reception East was Club a Wharton of the Middle Thethrillofthefallit interesting. world atmy window, whichkeeps from allover people the Isee so a millionofwhomare Emirati, million only people, of 11 a country The Unitedvisas. is Arab Emirates butwillrotate visas into immigrant I’m nonimmigrant issuing mostly Ididn’t so was far.) very inDubai, go Fellow in Abu Dhabi. (My tour first ing my tour asaConsular second to all of our classmates.”My best we’re aware thattimeisprecious. away,pass this year so especially, choir. We’ve friends hadafewclose good singwithavery and we both often—and nephews,whomwe see with family—including 15nieces AnneandIreally enjoy being ties, activi ofthese Outside tax work. anddoing financialmanagement affordable housing. Andbeen I’ve and,relatedthe region to that,on with friends, lan another learning time like for things playing music timeIdidit),have last 22 miles often anymore (90 for minutes commute veryyucko California Since I don’tindoors. have the anythinganything beats outdoors with my husky, sinceinmy book, at Sun Valley, and taking a hike Nordic loop, runs burning some to thegym” doingan8K means time in Ketchum, ID, where “going remotely, I’m so pretty muchfull- meworkone ofthem.Oraclelets isnotam many butbored things, career,never-a-dull-moment I so the to be continues Cybersecurity story, andwith I amit.) sticking when I was(I joined two; that’s my wentjust over 30years atOracle. Mary Ann DavidsonMary Sharon Keld says: “I’m start shares: “I shares: - - - - -

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 76 Hammock enterprise recently enterprise Hammock in May.tion in Lisbon My new Bell competi our team to astartup shepherdingmouth and will be Dart of UMass of Business College ship concentration at the Charlton the entrepreneur I head activities. youthful in my two new business time!”the same and relieve ofyour at some stress a fellow classmateStreet! Support finding outthere islifeafter Wall recently inForbes featured , andI’m (drinkbimble.com). We were my own Bimble cannabidiol drink, offandlaunched thescreens turned 30 years (give ortake),I’ve finally that’s life!” days,these Ihave to admit,but youngerprevious years—mostly from graduates of interesting a lot andmet inSanFrancisco weeks ago alumniacoupleering ofWharton Hausman agath and Iattended Millerfamily.immediate Joel Pennalumniinthethe seventh that weekend aswell, makingher graduatingfrom theCollegebe And my daughter, Jenna, willalso Reunion Weekend inPhilly inMay. during aspossible classmates as many toforward seeing looking campus in the City by the Bay. I’m tive intheirstunning Education Execu San Francisco atWharton worldwe some travel.” plan to see In2019, thinners. and Iamonblood fully, my wife’s cancer is now at bay, “Thank year issues: dueto health world were put on hold for the first Vanguard, but his plans to travel the life over more money.” quality of never regretted choosing toto live, ‘work live not to work’ and if I’m contributing.I’ve always tried like whatstill I’m doing as and feel ready fortheRword (retire), asI when ya comin’ back?) Not quite here in Sun Valley. ( Ray Wilson WG84 Wilson Ray wharton magazine spring/summer 2019 David “I’m writes: Bell feeling Jay Moskowitz “After offers: Steve “I’m Millerwrites: in still VarneyEarl retired in2017from , Bengali Sohail ------lowship, I co-founded Exceptional lowship, Exceptional I co-founded forme.experience Following my fel Fellow, whichwas alife-changing a Harvard be Advanced Leadership and2013,“In 2012 Iwas to fortunate held in Miami next year. which will be the Bowl, 2020 Super in being counting onthePackers Ray Both in tackles. and James are teams the2018 Packers’ led special linebackerin asarookie ate—who and University ofIllinoisgradu Lauderdale St. Thomas Aquinas Florida nativeSouth Fort and local recently met James Crawford—a bardi, Starr, andHornung fansincethedaysPackers ofLom manysee of you there!” graduation andReunion. to Ihope in May. So, big weekend for us: daughter, from graduates Wharton Now, Itotally it.Virginie, get our to makefunofsnowbirds.I used inVero ahouse bought FL. Beach, Perraudinfamily just “The writes: me to write this.” got often. hispersistence Ofcourse, so every in Connecticut breakfast for together he and I get our class; for for all he does Bartimer Larry Lastly,most. Iwould liketo thank at for30seconds is only on-screen isonthegame,focus andmy mug Fortunately, onESPN+. games the Yale men’s and women’s basketball at colorcommentary doing some to fulfillalifelongwish,Istarted In addition, business. advisory IPO to helpgrowof ICRCapital, their tor relations firm ICR as chairman inves I joined which is a blessing, commute into New York anymore, havehand inthegameandnot to what I did. However, tomy keep like anextended van), whichis to buy aVespa andanRV (more that inretirement, fun itwould be years, I decided all those markets capital inequity working onIPOs 2018.March After of theenjoyment Iretired60in whenIturned UBS, Lynch, ofAmericaMerrill and Bank Lynch,Salomon Merrill Brothers, a 34-year Wall Street career with wife, Janice, in Providence, RI.” McKeel reunion andhis withDoug to print,Iwillhavegoes hadagreat Bythetimethisin thepipeline! North Carolina. There’s more fun companynutrition-technology in care company in Californiaand a ahigh-growthbetween skin- joint-venture first its inked deal reports: MarcusAnne Punzak reports: Ray a die-hard Wilson has been PerraudinRhonda (King) “AfterFrank Maturo reports: - - - - life as a road warrior for Huron Con in New alights Nick, York when his years inSanFrancisco, andourson, tesville, VA, this summer after four and herhusbandmoved to Charlot now.Coast daughter, Our Maggie, glad to have kidsontheEast both 16th and we’re year in Boston, very year!” toforward attending Reunion this Lives cometo theirstate. Looking inhavinginterested Exceptional and might be child with disabilities any who have fellow classmates a I would lovesetts. with to connect andMassachu active inLouisiana basis, and weby-state currently are informationonastate- provides Lives Exceptional disabilities. caringforchildren with fessionals andproinformation to families online that provides personalized Lives, anot-for-profit organization Spencer is 23.Spencer is 31 as ofValentine’sElise Day, and Her kids are grown and graduated; Habitat forHumanityReStore.” of a in the Case ing Approaches Decision-Mak and Multi-Criteria Customer DiscoveryCombining title: “Coloringthe Lines: Outside her colleague, Burcu Adivar. Paper Entrepreneurship conference with & forSmallBusiness Association awards at the 2019 United States PaperOverall and Best ical Paper Empir January shewon theBest State University since 2015. In at Fayettevillefaculty member aNorth Carolina andhasbeen has a dayhusband, Alex, job!” thing my wonderfully supportive writejust the music myself. Good with acomposer. well, Ifnot, I’ll able, to collaborate but I hope manage shouldbe and thebook andfun(andaddictive), easy been years orso.dozen Writing has lyrics studying foraand lifeI’ve been work whose six core Impressionists, oneofthe It’s Morisot, Berthe about ting thatI’m …writingamusical! though, I’mprojects, finally admit arrayfor a huge of Between clients. sumer data to create presentations from qualitativeand themes con sultant forCSpace, pullinginsights work con contract asastorytelling Icontinueto dosulting permits. has spent hisentire career sincehas spent He services. and biotechnology ofhealth-care head asits bank, amid-marketinvestment Advisors, Diamond Capitalrecently joined shares: “It’s shares: Carlson Tracy our Meir (Michael)Brunelle Meir Caroline Glackinisliving in ------

joint military commission (some commission military joint witha assignment to aspecial Air Force andrecently switched advocatejudge intheUS general sity forlaw Heworks asa school. Univer then Duke the School), and have to connection afurther (which was niceformeto visit Brian, went son, tooldest Penn busy,been Our butlifeisgood! Welack ofpriorsubmissions. have to allofmygies forthe classmates companies. and biotechnology manufacturing publicly pharmaceutical traded of the M&A teams of twomember anda Angeles, inLos business cialty pharmaceuticaldistribution in New York, thefounderofaspe ment bankeratDillonRead &Co. space: as an invest health-care graduating from in the Wharton board for the last four years. My forthelast board and was of Windward’s president disabilities, learning guage-based withlan forstudents is theleader which atWindwardtrustee School, day years job, as a 12 the last I spent from myare Aside appreciated. of work where my contributions nice to have onefinalrunatthisline tive environment at Stifel, and it’s I reallyclients. enjoy the collabora our coveragehead of private equity ket investment I banking business. where we are buildingamid-mar Imovedferies, recently to Stifel, DillonRead,Brothers, andJef with Lehman mostly banking, dad. After 30years ininvestment are thantheir clearly allsmarter Mywas kids adumb blonde, NOT! Welin &Marshall. to thinkshe used springfromgraduating last Frank in developmental psychology after Cornell aPhD to pursue first at year daughter, Our lytics. Tess, is in her to afieldindataana lead hopefully thatwill campforcoding of boot to Hesort enter is about ago). some Adrienne andIwent many years from Lafayette (where College graduated Sean, third son, Our and his wife are living in Atlanta. now & Co. a consultant for Bain He ayear ago. school) business Heis (thatotherfrom Booth Chicago Richmond andreceived hisMBA went toConor theUniversity of parents! We son old…Our are so Adrienne and me first-time grand a baby girl this fall, which makes live inAlexandria,VA, had andjust Heandhiswife top-secret). very in Guantanamodetained Bay—all guys being thing to dowiththose Tom “Apolo Flanaganwrites: ------over 25 years. Charleston is a great isagreat over years. Charleston 25 for Happily married Life isgood. working for a private firm. equity for Uber. is The in New other York, One isinSanFrancisco, working in2016. College ating from Boston two are boys after launched gradu calculate hour. per what I earn Our butIamafraidto interesting, very nature career. after a35-year Itis that you by second know almost to nicate 19-year-olds something harder than I thought to commu It turns out it is alotCharleston. ofto undergradsattheCollege professor,adjunct teaching finance now asan inmy third semester to do, something I needed Iam so the rat race. He says: “I found out to away get SC, Charleston, from tomoved from Connecticut capital, andprivate equity. He ventureinvestment banking, afterago more than 30 years in to everyone.”fun for all of us. Best of andhiswifealot ous ofBarry swanky It gener offices. was very two athis great Reunion parties to long.Thanksalso too it hasbeen but, amongothers, Santos-Buch Palma, De SamChapin, ther to Conor), in touch with Dan (godfa Stauder and itwas alifelonggift.I’ve been twoyoungest went to Windward, Levine, Richard Olsson, & Glenn Rieger WG86 Rieger & Glenn Olsson, Richard Levine, Paul Doug Rogers, Mathison, Bryan Bob Bloom, WG86 Bach Abigail & Demont, Joe Mahowald, Rosser Julie Gaffney, Allison Amy Barry Rosenstein forhosting Barry Jim Furnivall retired two years Dave Jaffe , andCharlie Vince Vince - - - - 86 always aChristian/Wharto be You’llreunion withclassmates. to graduationand thatbetween isanalogous communion withGod union and between distinction his John Owen. Perhaps about conferenceChurch theological ataTenth other each Presbyterian a photo from last fall’s froma photo last mini-reunion Crockett. Herrmann, Neuberg lowship WG85 alumsBarb Felby Christian fellow Wharton next year. Maybe joined she will be ing herto attend her35thReunion encourag whenIkept switch tables Reunion. Graciously, Earlinedidn’t grown, but shehas yet to attend a husband andtwo children, now from Pennwithher20 minutes living Earlinehasbeen question.) wouldanalogy qualify as an SAT God/classmates. (Not sure ifthis to have communion/reunion with nian, but you to stay need in touch [email protected] Larry Bartimer ↑ WG84ClassCorrespondent at [email protected].” up if you are in the area. Reach out place to live me look or visit. Please Thanks to Joe, we have Demont antly surprised toantly bump into surprised wereand I(Elizabeth) pleas WG85 ChingSchmid Earline Fess John, andFess Baity - - - -

the East Coast fortheannualPhil Coast the East stop for photos. muchto too themselves enjoying theywere butIguess attended, Abigail Bach Julie Rosser Mahowald , Joe, and are AmyPictured Gaffney Allison , Bayhome intheSanFrancisco area. Jeffrey Boyswas a data analyst for Jeffrey C13.their son, Greenberg lost graduates, W85 , both berg Greenand his wife, Geller Beth classmate family. to I was sad read that also andtheextended LiPhil, Leslie, to Iextendour class, condolences ofat our35thReunion. Onbehalf him to see track ofhim,butIhope rarely saw him and at Wharton lost Imet, classmates I one of thefirst ThoughPhilwas several textbooks. andauthor of professor a college but also only doctor not amedical Phil’sdied. brilliantfatherwas LiWG89and sister Leslie , also Li WG50, thefatherofPhilip Li was Daviding atWharton, listed. inmarket director and associate Weitz, professor a former associate yearlast that Barton and noticed in the aries welcomed.”feedback inthefuture.adaptations Further ortinue suchdinnergatherings andtoof mutualinterest con ontopics other outtoreach each to building.Agreements a startup to for doubling Wharton down on Dillon).Salute Polite eye-rolling (by thereof. and sightings classmates Numerous remembrances of other infrom Princeton.)(He paddled trophyeled awarded to Rich. Trav Distance Furthest factual. and mostly professional, personal, extreme laughter. Oralupdates— with intermeshed topics discussion was roughly asfollows: forbidden Hall’s yacht. The order of business by and3)George vided Wharton; pro 2018; 2) appetizers 1) a blessed all around first for: itude expressed weather. Here’s Paul’s recap: “Grat minute duetothe last inclement at whobailed those represent ence inthephoto. Theraindrops , Mathison (Bryan’sDillon Rogers Paul son), Bryan whoattended: Rogers, Some adelphia holiday mini reunion. at unduly aged due tounduly Dillon’s aged pres may outthatpeople point appear . Paul wasGlenn Rieger careful to , Levine Carolyn Rogers Stepien Other classmates gathered on classmates Other I happened to peruse theobitu to peruse I happened Richard, and Olsson Lawrence Greenberg Pennsylvania GazettePennsylvania , Bloom Doug . Dozens ofothers. Dozens spring/summer 2019 wharton magazine 77 ’s lovely Bob Bob ------87 Jay, anditwas offuncatch alot years since we sawIt hadbeen last withJaydinner inBoston Klein . years, right direction. you who live away farther in the sure she’d any gladto point be of so I’m Rail, Metro-North at affairs andpublic ofcorporate is director away.minutes Jennifer Benepe ifyou live especially 2021, only 20 when Iattend our35thReunion in consider visitingmeinmy oldage old.Please is asignthatIamgetting likeyesterday.seemed this Iguess ago. Previously, ithadalways asiftheywereto alongtime seem Reunion, my days Wharton began for the Greenbergs’ profound loss. sympathies ourdeepest to express Iwish submatriculant inourclass, I didn’t know Lawrence, who was a such aworthwhile endeavor. While vidual to have invested his skills in anexceptionally caringindi been haveful organization.Hemust that Jeffrey fora worked wonder Girls Club of Worcester, I can attest friendsattheformer fourth-grade many with spent memorablehours Having& GirlsClubofBoston. CV out since of kicked getting that’s before keyboard Edge Leading from my fingers ery, age-spotted myto bony, pry arthritic, leath You’rerespondent. have gonna astheWG87 cor of resigning class here.straight Ihave nointention my only about to better makemefeel yourself, about me something if tell atleast for aslongpossible, if you onclingingto insist power But else? dent reins to someone inany only person (to thisday,and performer the withJay,Wharton a Follies writer ing up. Remembering my days at wharton.upenn.edu david.bigelow.wg86@ David Bigelow [email protected] Elizabeth Wilkins ↑ WG86ClassCorrespondents don’t you correspon the class pass aficionado. followingto space-filler Jay, a pun theGAAP Iamdedicating Man), to portray afinancialsuperhero— Sometime after our30thSometime A lot of people askme, “Why ofpeople A lot self.” onething get mejust Let friend andwifeofover 30 Fellow Wharts, Gail Hoffman Cantor , had happening. So here’s So happening. my A fewmonthsago, my best medium medium ever ------

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 78 spring of1987. (Former Presi US inthePhiladelphia inabig hurry School. graduating from theWharton and basically letthecompany go four young children by thattime buddy. withacollege ness Ihad busi abakery was to start enticed I deal; a better but I got it seemed, could have worked there forever, II worked attheblackjacktables. dayevery to Atlantic City, where Philadelphia areaandcommuted concentrate. I moved back to the I couldn’tfired frombecause there and I’m to say embarrassed Igot Tropicana was my nextemployer, upwiththeholebusiness. fed got Again, funforayear orso, butI facility.in theirmanufacturing offerfrom them, ajob get working Dunkin’ and was Donuts excited to company calledfood-service familiarwithanupstartvery Iwas off. took aBostonian, Being but it never business, ballooning ahot-air towith acolleague start Ileft interest. while butthenlost bankandloved itforaa midsize Go, Ijoined Pats!”) tract. digestive aworm myhas bestowed upon line, “Methinks that cheesesteak ably recall, reciting theimmortal graduation ceremony, as you prob at our spoke Arthur dent Chester wharton magazine spring/summer 2019 At Penn’s I left suggestion, two of the Penn Club & Wharton of leaders the Netherlands, for their country’s Nationalfor their country’s Day Tulip on January 19. John Terwilliger Saral ENG96, and Defne C83 W83 picked flowerspicked during a group event in Amsterdam CLUB SPOTLIGHT - - - herself as “Whart Sarina,” as“Whart herself wrote BronfinMonast , referring to nickname—Wharts— North locations. Dakota convenientat any one of our 12 now between andtheendofMarch and $10,000 anytime cash prize tions! You may pick up your award in his new job. congratula Gerard, travelssure he also the US across makes Gerard so day isnothing, in one But 300 miles distributors. cializing in M&A for insurance up, heads an office Gerard spe & Co.,Manhattan? Berry Marsh What’s300 miles. enticing about so is roughly and Manhattan necticut Con commute northeast between of coffee.) Gerard’s round-trip give ahand … and an urn Gerard ent— VecchioGerard to recipi announcethisyear’s Iampleased to work. distance voluntarily travels thegreatest tomuter theclassmate who Prize award theAnnualWG87 Com the companypened; folded. I’m sure you whathap canguess thatwe “2Many named Trees.”ness living busi in a paper make a good my friendandIthoughtwe could spirit, however, never waned, and enough dough.My entrepreneurial Icouldn’t makeunder because Getting on board with on our board new Getting At around thistimeofyear, we Sarina Sarina

. (Please ------here in Montreal atmi-mi-mi-mi here inMontreal WG86Hall Domine in NYC.” with had dinner and went to aconcert amonthago,and about Ken andI Brenman Parker WG88 weekend withRandy andCaren in NYC as well. I recently the spent Gina Griffin andsee often inDC her quitefrom andsee ourclass intouch withRobinstill Brady Iam students). (600-plus Wharton of over Darden students) (200 or so thesmallerprogram but shechose We herto anMBA, get encouraged UVA’s inSeptember. Darden School program atthe graduate business daughter,oldest Talia, willbegin newsyitem forusisthatour other all thetime, andtravel aton! The inNYCthing funandinteresting golf, run,play bridge, dosome many do:volunteer, retired people and ahalf, Ihave doingwhat been in New Jersey. For year thelast communitycollege atalocal ness to Busi nine years ofIntroduction the city, I‘retired’ from teaching ventures group. When we moved to international ofits incharge Hearst, loveabsolutely it! Ken works still for ofourtimeinNew Yorkmost and in Newour house Jersey, we spend Whilewe have still nesters! empty ment inNYC ourlifeas andbegan “Weto college: rented anapart offourchildrenyoungest went River) whentheir longago not oftheHudson coasts andwest (east Bronfin WG86 that sheandherhusband,Ken NorthStar). We fires believe these whenIjoined yearsthree ago burningburning (anditwas also wasfinancing round, California week we ourrecent announced The sensors. using hyperspectral Gravity observation) and Earth inthefilm SandraBullock ber problems: spacedebris(remem company two aiming to address Star, “a globalinformationsystem the chief financial officer ofNorth he’s records, Marc is setting not by a brutal cold Arctic front. When were and seized frozen his assets apparently,cessful, butonly after Hewasonly abalancesheet. suc wearing time outdoors the longest record a Montreal for to set trying thawed-out. Hewas apparently has Marcthis, Godin and I hope Hemisphere) asSouthern you read inthe to theWharts (a shout-out words.”these It is spring or fall as I write Celsius degrees nus 23 “It … it … is indeed c-c-cold up c-c-cold “It …itisindeed andCynthia Domine Bob , became bicoastal , became inNYC, ------

to Marie-Claude. “No grandchil to Marie-Claude. Enfin, Marc happily is still married pluses”). not inminuses, tures Valley oftheNorth, withtempera new high-tech huba (“Silicon hot and Montreal’s as attractiveness treal’s intelligence artificial cluster roundtable ofMon onthetopics international MBAprogramina ofiting the Lauder French section thevis Club andrecently hosted ofQuebec’spresident Wharton Heis hisfellow Wharts. helps tion to helpingourplanet,Marc (maybe oneday).”politics Inaddi difference, into abitlikegoing Star. Thisismy way ofmakinga grandchildren asystemlikeNorth at Norstar-data.com. We owe to our monitoring. out our Check website pipeline, and ocean pesticides), therightlevel ofwater and(just forprecisionagricultureLikewise and prevented. detected can be program. Congratulations, Arturo, Congratulations, program. program, andanutrition head-start center,including ahealth abilingual of initiatives,through a number more than12,000 individuals ayear Harlem. Thisorganizationserves centererally health inEast qualified afed forHumanServices, Council Harlem confusing!) atEast are so acronyms to CEO(allthese moted Perez, who was recently pro New England Patriots. fortheuniversallyrooting loved time inNYC withtheirtwo kids,still muchoftheir theyspend back East, When heandAmyagement. are of investmentalong the lines man doing something Beach, Newport PIMCO Investment in Management Neal is executive vice at president oftennis.warm andlots temps, in ofthe annoying midst sunshine, have puttingon brave been faces Nealof Quebec, and his wife, Amy, Marc and the invigorating winters of jealous Although helikely willbe to have Neal.Coast good very been WestSix years on the southern meafewtidbits. to send session enough his to spray-tanning pause SoCal) will reach out! you hopes Marc inMontreal, self intown.”downsize Ifyou find your pretend nameisFuji!)whenwe its chalet in Mont-Tremblant (just a“Japanese-style to construct hope planto buy and also abuildinglot months.” Marc andMarie-Claude two in the past kids left the nest dren yet, two but the of oldest four A quick shout-out toA quick shout-out mostly (SoCal-Boston, Bi-coastal Neal Reiner was kind Arturo ------tions) recently performed antions) recently performed Jay inWG87 Notes Class men And 6inFort Myers,in aMotel FL. stay wasThe top prize a one-week Tourney for the Prematurely Aged. Bridge placeintheBethesda first won Bowl) intheSuper appeared have thanthePatriots more times inthiscolumn hasappeared believe December, foryou!) Rob “Ingood continues, mat!”destroy (If you don’t that, get “Mustyelling, mat!Must destroy anddown section in the flooring upand stomping Ikea, a Boston at when Gailwasalerted spotted clinicianswere health Mental Clinic for the Maritally Exhausted. Gabor Zsa attheZsa recently seen Friedman: “Gail Hoffmanwas Gailfrom Robabout Meeblind anchor, received Ijust thisupdate the same. for makingmelaugh!!!”It’s not just $400,000 today. Ha-ha-ha! Thanks say, “Matt! You thecompany cost shewouldthat), butIdoubt ever relationship than stronger personal a(and believe me, keeps nothing whenever fromI want her nostrils Sure, milk herto spew Icanget together. in business and I could be nated me. Ialways wonder if Gail combination hasalways fasci for 18 years. The marriage-work duo, run by dynamic the same has been marketing recruitingboutique firm, work you’re doing! on your promotion and the great Marc Godin WG87 at the podium the at WG87 Godin Marc And speaking ofmyAnd speaking emotional a Associates, Patrickson-Hirsch Keith andhiswife, Liscio Jan, John only to (second Cozzi Jay Weinstein (who I - - co-op in the education space, based space, intheeducation based co-op a purchasing Services, Cooperative ofmarketingatE&I now thehead mine,not even “I’m thoughIagree): from luck! Good schools. daughter isapplying to graduate AndtheirStreet inManhattan. landmarkof its building on 43rd recently completed the renovation oftheFordCOO Foundation and husband, Diana’stime consultingbusiness. anewpart- willbecome gigs these of smallfoundations,andshehopes consulting for a couplenow spent Commonwealth Fund. Her time is read column,hasretired from the regular contributor to thiswidely them.more Sorry. about metodoesn’t say permit anything Limited space incurable diseases. a cure foracoupleofheretofore the universe andhow hediscovered of the origin of a new theory about wrote also Bob forgot. Oh, I almost we’ll Perhaps neverContest? know. inthe1983 Eurovision Song entry by OfraHaza,Israel’sThe song publication?The teen lifestyle me off.Bob referring to Hawaii? Is capitalization of “HI” isthrowing by meant that.Maybe the what Bob “Just want to say HI”I’m sure not Smith , whowrote, to Bob goes that he is 100 spit. percent learned and test thesame Rob performed ofthetea cozy.” descendant direct delighted to discover that he is a Ancestry.com andwas spittest Here is some “truly boring news” news” “trulyHere boring issome Diana Davenport, another Annual BrevityThe First Award Phil Grabfield.(Phil’s words, John, is Bernstein

that heworked full-timeatLEK Marc Kozinit?— letmeknow isa funny name, user treply” isn’t address—“dono e-mail updated lives in Burlingame.up—he Francisco, sure Joe to be look please through are San passing Wharts one to follow convention.) Ifany day,same hasnever butJoe been tells menever andsiponthe to soak (My of nearly 58 years pediatrician allinoneday.”spin vinyl—often it’s (?), sip, time to ski, soak and year last andrun now at Gartner retired. Yep. offa30-year Finished but I’ve classmates, our illustrious probably thisallthetimefrom get says more like 50. it seems 30years, althoughshe married been 31 years of marriage. Gail and I have that. Seriously, congratulationson there’s any that could joke improve jokes).” You know, Idon’t think (have Affairs already all heard those working intheOfficeofStudent he “met when she was as a student Diller, to Debbie tion point) whom withanexclama he punctuated for 31 years married (whichbeen Philhas from Dubai. Connecticut tion to John’s wife, who are back in Freeman andhiswife_____,norela recently haddinnerwithTodd and hiswife_____)inNY.” Philalso and Stewardsago) (John Steward a burningbuildingfewweeks threeshe pulled of my kids out of since embarrassing me—pretty name escapes and his wife, whose oftheBoyattssightings (Kit Boyatt Island. Recent Whartonon Long In addition to sending meanIn additionto sending Joe Baylock informsme, “You spring/summer 2019 wharton magazine 79 - - -

uted little to Wharton (not to uted little to (not be Wharton haveyears, but otherwise contrib and was forthree thepresident Club ofHongKong 20years thepast a governor of the Whartonbeen saying). far, I have So (just good. so have since graduation aged not tell from thismorning’s shave, I ters (thanks to I can their mom). As we have daugh beautiful hadthree agreat gal,and, sincethen, married 15years ago, atit.Exactly still I fundequity management and am up myI set in private own business (NYC).gatory 20 years ago, Exactly Hong Kong after two years in pur 30years ago,Exactly Imoved to you on my since graduation. past letmeupdate so say something, to (shamed) compelled But Ifeel broadcast to our fellow classmates. muchtotance, not andcertainly really have anything ofgreat impor “Idonot collective sighofrelief!) him explain.(Hey, Iheard that life. aninteresting I’llletleading term planning.” 97. Yes, (WOW!) I’m long- allabout her next birthday, when she will be to forward is doingwell andlooking inform my our classmates, mother aren’t alums.Ifyou couldfurther eventhey Whart, remember if they and all that. I’lltrusts, make sure to wills, saywise about something demographic,target Ithoughtit are moving (have moved?) into my probates. Now thatourclassmates tice elderlaw, and protection, asset daysearning areYes, past. Iprac when all their earned what they’ve to make sure my to get clients keep back to Lydia: “I am happily toiling Yes, you Sorry, heardithere first! year.American lexiconinanother ofthe part to isgoing be “Whart” atWhart.” classes the other Ithink what?), mation wasn’t (Wait, repackaged Facebook.’ At ourprivate least infor is how we it before rocked ‘This says: “You can tell the youngsters, way intouch, ofkeeping Lydia York don’tthat people like? andsnow freezing temps it about What is their winters in Naples, FL. 30,aged 27, and25, theyspend withchildren to Donna, married cushion.)Still super-comfortable you to easy dounless havenot a tell you thatit’s from experience public and private (I can boards. histimesittingon He now spends operation. US runningits 2012, from graduationuntilConsulting Kyle Shaw been has certainly In reference to this old-school and we heard about also ------

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 80 wharton magazine spring/summer 2019 Carolina. Theymay theonly be and South inPittsburgh branches newbank with opening charged is working Chase, for JPMorgan daughter, Our drinking?) Isabel, less with perhaps, money! (Except, back incollege, butof likebeing without thetuitionthingissort thing the empty-nest working, andof ourkidsare outofcollege “Now started.) thatbothgetting anyone would care about.” I’m just that “into something submission now. (You meto asked makeyour Yeah, Neal. I’m all up in your grill Rams.to to get thered zone?” “CanAngeles anyone tell us how was fortheLos the quarterback when that he wished Eli Manning ots, for mydisdain New England Patri amount anyway.such an arbitrary is digits a Twenty little frostbite? What’swarm weather? wrong with land.” about What getting am I not with visitingtheheart enamored whoapparentlyitors were as not ofvis inasteady stream resulted has new locale nesters. The empty the weather and to adjusting life as I joined Pelican Enjoying Products. year last whenmoved to SoCal “After City, 17years in Kansas we of Fortune. Vannaimmortal White from Wheel the featuring Follies production ring to whatIthinkwas the1986 trademarking thatone, isrefer too) Ruch, afellow Folliesian (yup, I’m figure.” hashergig. Go still Pat since we graduated … Vanna White important!” would so be could have thatChina predicted (and containment)ofChina.Who the rise helpcannot but read about of1987,in ourClass buttoday you students were nomainlandChinese There Houston). jail facilityoutside County with the Wharton confused Glynis Worthington WG88’s children Glynis Worthington Making no effort to hidehis noeffort Making in fromThis just Phil Gyori : have not “It must long so been Neal Kurzner cut me deep - - - - 88 tice withtheOlympic women’s invited recently been toalso prac year of NROTC at Iowa State. Edie’s following a engineering, systems Air Forcethe US Academy to study entered just Elizabeth and youngest engineering, Point inmechanical Jacktenant Son nurse. attends West USAFA lieu ROTC andisafirst the University of Iowa/Coe College Daughter Kate from graduated intheMarines. captain infantry naval architecture and now is an uated from theNaval Academy in thehoffmancompanies.com mhoffman@ Matt Hoffman ↑ WG87ClassCorrespondent for today. Thanks for watching! anephemeralconcept.” to be seems buttheterm ‘affordable’housing, to develop affordable modular we before were I’ve married. started travel’ long argument,whichbegan and she’s winning the ‘I want to at hometo anymorereal reason be above,as, mentioned there’s no and I are exhausted “Tina esting. to doto makethattidbitinterneed Neal, Idon’t thinkthere’s anything I population!” as muchthegeneral grow like live and smoke pot music industry. who Apparently people onthecannabisfestivals focused working Angeles, on music is in Los Quinn, son, Our branch footprint. bank inAmericaexpandingtheir have Wayne succeeded: Jr. grad I Seems citizens. all-around good happy, adults—and resourceful My was goal passionate, to raise full-time Iowa momfor24years. afollowing graduation,Ibecame in AT&T’s program management tour ofcampus!After five years toWhat ajoy give my a youngest That’s allthetimewe about have one inMay attheReunion. every “Enjoyed seeing Glynis Worthington writes: - - - - - 89 your profile on Wharton Reunion Weekend website, update of 1989 MBA ontheWharton page and stay Visit the Class connected: back Reunion attendance! Come toclass break therecord for30th the committee are challenging our us all, and our families!” us all, and our families!” having attended continue to bless experience, andmay of thebenefits you allforyour inmy part Wharton have. certainly they most Thank from my Pennexperience—and my children greatly would benefit the Midwest as for generations, ence would an investment be in how myabout experi Wharton anessay included 30 years ago!) application(writtenWharton over thing is that mythem. The craziest community,the same as we did in together raising theirfamilies other andeach someday talk about it!).Theyenjoy know about others the hisorherbranch(andlets about is completelyas each passionate and delight when wechaos gather, It trapSprings. is team in Colorado the US.” roughly of 10percent educates ofTexas,finance system which tocommission reform theschool policy,state ayearlong assisting mately involved informing inalso 24. We’ve inti recently become toon children age from birth and national foundations) focused bya consultant(funded regional the country, as serving effectively metro areainthe fourth-largest mobilityinpletion andeconomic com college tostreams increase policy,align actions, andfunding isto mission etc. Our nonprofits, education leaders, and business foundation presidents, college superintendents, district school entity of tobone a partnership back asa 50-person serving US, organizationinthe lective impact thenation’sbecome col largest founding. We’ve to blessed been Commit’s chairandCEOsinceits as withmeserving practices, best following anationaltour of2011 ship (commitpartnership.org) in Partner theCommit founded Sachspartner,as aGoldman we “Followingwrites: my retirement From Dallas,Todd Williams on and Facebook LinkedIn! groups of1989 MBA Class nect, theprivate Wharton join and Engagement Committee, and Committee, and Engagement Reunion the 30th Wharton , chairof Stefanie Shelley Con ------

you out for a nice lunch.” me; Iwould love to ortake sipcoffee San Francisco, domessage please executive in2000. If you’re ever in after leaving HPasanco-founded ing agency, Aventi Group, whichI growth ofmy market high-tech ways. I’m withtheterrific blessed adventurous intheirown distinct thoughtful, feisty,ing, playful, and who are terrific kids—hardwork (14), (15),andSophia (15), Serena Teddy (17), four teenagers—Samir wedding anniversary. We have here of our 26th on the occasion with alovely wife, Gina,pictured D: “I’m man Cohort blessed a very Gwyneth Jones Cote WG89 &family WG89 Drax Jeremy WG89 Perry & Ogen ENG18 AlexanderGEN18, Perry Dorit Perry, Dahlia Perry C17 W17, WG89 Sridhar Ramanathan &Gina Saldanha From Sridhar Ramanathan,

- - working with several startup com working withseveral startup returned to his previous employer, ence from 1987–89, Jeremy Drax Onward!”services. financial for practice build outtheITstrategy to while collaborating accounts keybanking managingsome be in thispowerful organization.I’ll grow andinnovate clientbusinesses team of old and new friends to help for years to a andamthrilled join withthem competed respectfully I’ve Services. IBM Global Business of practice and financialmarkets inthedigitalbanking as apartner a new role that in January Istarted Reunion.”upcoming many more fellow alumsatthe to forward seeingI amlooking Murguia, and Shaz Kahng, Brian Fox, , Cali Patricia Bogdanovich, Jennifer, Barr attendance were Mark Adams Inalumni forapre-Reunion. ofWest acontingent hosted Coast and my in2018. son We recently as my daughter in2017 graduated enjoyed visitingPennfrequently, for Uganda asIwrite. We have weAntarctica—and are packing inand swimming with icebergs inIceland,the Northern Lights inJapan, blossoms the cherry included year’s highlights of last ambitious travel Some schedule. ago, we to an committed ourselves Afewyears mediation. teaches Valley, and practices andDorit outofmypanies homeinSilicon Peter Angliongto WG90, Rico Camus, Jay Singson, Odette Go,& Richard Dee WG89 Dee Richard Go,& Odette Singson, Jay Camus, Rico WG90, Angliongto Peter writes: “I continue writes: Perry Ogen After experi hisWharton From Jacqueline, Chappelle deLa : “I’mGil Brodnitz excited , Hartmanis Martin Wendy Klein, Neil, Blecherman Sally Stephens. Marianne Marianne Ted Ted - - ,

of high school andbeyond. We’veof highschool nent family during her three years herperma thatwe became success Qianxu moved in.Itwas sucha and astudent, tounteered host the world to study there. We vol fromwelcoming around students experience,ing agloballearning enrolled our children, was promot where Day weGreensboro School, Bell Partners. officer for operating the I accepted role of chief because Greensboro, 2013 NC,inJanuary sentence, wethat last moved to Forest University. To on elaborate our family; sheisajuniorat Wake six years ago, QianxuDingjoined University ofDenver. Andabout ter, Cynthia, is a atfreshman the daugh (my Our alma mater!). is ajunioratSwarthmore College Jack, son, years. Our more than23 “John andIhave for married been the UK and abroad. in friendsboth his formerWharton girl. Jeremy with maintainscontact three children: two anda boys with hiswife, Natasha, andtheir a trustee. Jeremy lives inLondon involvedtrusts as in UK real estate two private manages also family England. He cattle farminDorset, lefthimhisbeef when agodfather to in2003, hisworking interests ever since,ness adding farming this busi the has UK. He managed across aging commercial estate real investing and man in, developing, surveyor chartered of as aqualified in 1991 andreverted to hiscore skill Ltd., ParhamHoldings business, hisown started ventures. He erty years, raising capital debt for prop Nomura International PLC, for two Gwyneth Jones writes: Cote ------group-chat’ withmy siblings’ chil group-chat’ inthe‘cousinand isincluded frequently breaks during college and loveus thatshejoins thefact to herparents Chinato meet been the mission. ULI focuses on things on things the ULI mission. focuses we aremembers ableto deliver on thatthroughtion, recognizing our We organiza are a member-driven thriving worldwide. communities land andincreating andsustaining of use ontheresponsible leader thethought isto be The mission of ULI. excitedI am very part to be new commuting in our factor lives! office.learning this JohnandI are from the blocks three apartment to Washington, findingan DC, 2018. I moved in December started andtute. thisposition Iaccepted Americas for the Urban Insti Land forof thepresident searching I received acallfrom arecruiter, inRichmond,on theapartment afterShortly we the lease signed band we Itwas hadhired. ablast!) once but twice with the wedding ‘Love Shack’not and Iperformed andmy bridesmaids our wedding, cameto Fred Schneider the B-52s’ years ago.B-52s, a wedding As gift, ‘famous’ workmost was with the forpop/rockand lyrics music. His is amusician,writingthemusic tinue working onhismusic. (He Richmond, VA, John could so con Wetion from highschool. on settled we wanted to live after her gradua and metimeto figure outwhere played andgave inatGDS John daughtergame my then-senior allowed meto attend lacrosse every at the end of 2017. Partners Bell This Iretired assiblings. from other each dren, andthatour‘three’ kidsallsee spring/summer 2019 wharton magazine 81 - - - - - creator andentrepreneur ininter andisacontent Angeles lives inLos and rediscover citylife. Keenan, 25, able to walk great being to things It’sonce the kids left the nest. been Line,Main we moved downtown and after 20 years living on the nearly 24 years ago,Switzerland, fromPhiladelphia area Geneva, “Karen andImoved backto the . Singson, Odette, andRichard Dee ongto WG90 Jay , Rico(standing), Rain, andmore. theUS Imanage Rent, showsing and produced including SpringShe hasdirected Awaken society. musicaltheater largest theuniversity’swhich isleading her main activity,in between in theUK,where history shereads yearher last University at Durham isfinishing Caroline, 21, obsolete! advice Imay have somewhat seems Anythis emergingmedium. MBA ‘monetization’other in challenges is navigating venture capitaland year) last and million subscribers one (reached from loyal subscribers built quite afollowing and income Hehas ofCinematicArts. School Californiaversity ofSouthern and entrepreneurship attheUni after studying gamedevelopment active gamingandlive streaming from left to right:Peter Angli San Francisco. In the photo below, visiting alumna get-together to was welcome also ing 30years after graduation.The Camus dinneratRicoa pre-Reunion with start early off to an alums got real estate.” to fitting asacapstone my career in rewarding on. Itisvery and goes list more prepared (‘resilience’) …the ters and to enable communities be trends, how to recover from disas capital emerging markets, ning, on urban plan students and college ability, how to educate high-school like affordable housing and sustain Roland Mosimann WG89 & family WG89 Mosimann Roland Roland writes: Mosimann h aiabsd WG89 The Manila-based Legally Blonde , Legally ’s celebrat home 21, January from Go Odette Singin’ inthe ------

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 82 wharton magazine spring/summer 2019 91 90 an eye toward refining city pro CityHallwithto Miami Beach come C12, aide, EliasGonzalez ing his first office.ing his first in elected year County. Hecurrently iscomplet to public office in Miami-Dade Armenian-Americanfirst elected on November 7, 2017, the becoming commissioner wasMark elected input. resident as incorporating and accountability as wellcesses wharton.upenn.edu patricia.berenson.wg89@ Bogdanovich Patricia (Berenson) ↑ WG89ClassCorrespondent May at the Reunion. nology. many to see Hope of you in andtech by datascience enabled consulting andmanagement egy hybrid delivering service, strat evolve toward our vision for a themarket gratifyingto see been at thisforawhilenow, andithas intheUK.We’ve based both been ann WG83 partner,, andanother with my brother, Patrick Mosim company solutions Ico-founded ofadataandanalytics operations Rick Deitch WG91 &family WG91 Deitch Rick &family WG91 Sewell Bret Also, inadditionto this thistime.WG91 classmates We’ve from 16 updates got Mark SamuelianandhisMark CityHall!Miami Beach Penn alumni take over - - - - - close theworkforce gapincyber close We work onhelpingthenation remote Angeles. employee from Los asa Education, for Cybersecurity working ontheNational Initiative ofCommerce/NIST,Department government. I’m with the US thefederal to join I leftindustry security. The work like a I do feels and of Parliament the Houses opposite street, down the are just The offices worked decades. three infornearly thatIhavetributing to thesector but I’m excited to continuecon ‘poacher should turn gamekeeper,’ that aMy are amused clients very emissions. ofUKcarbon percent areas coveringpolicy more than 50 foravarietyam responsible of card to fit all of that! Ibusiness growth.and clean Ihave alarge tor energy general, transformation Strategy as the direc& Industrial Energy, forBusiness, Department Ihavecivil the service! joined theUK to relocate—to decided &Co.,31 years withBain Ifinally anyone. know ifyou helpcontacting need for everyone here, listed letme so havecom). Ialso anemailaddress website (WG91. atourclass ited are now available online and uned many forourclass previous updates magazine column,allcurrent and writes: “In Merritt Marian 2016, Julian Critchlow reports: “After !” Hollingbery George - - - - 26 years to start the entrepreneur years to26 start consulting…hastakenme started already hiking regularly. Have also Pacific andTri Iare Northwest, and do here in themuch to see time forthenewchallenge. So years butitwas intheMidwest, to leave ourmany friendsafter 18 ourmovepleted Hard to Seattle. year. you Hope are all well, too!” next toschool finishabout high est are nearly grown, with the young to discover ourthree kids shocked for themayor. Lastly, Iamkindof he is on an innovation commission Wells City, Fargo inCentury and withbusy asawealth manager my work travel up. ramped Jon is Symantec. Ihadto give itupwhen (voluntary role) at while still of LA forthecity planning commissioner three years I spent as a as possible. back to thecommunityasmuch at Symantec. to give Jon andItry while trainingprogram job security natural fit aftercyber a I launched PEI, Nova East and theUS Scotia, the St.Lawrence River and past Circle East the Down downsail off seven weeks thissummerto throughgoing Oslo.” 2019. Whartonites Happy to host moving insummer to anapartment and ourhouse Selling service. itary Michael’sfrom Wharton. doingmil anybody without seeing in October eight, eight, and six) the girls (ages and withEsenia London Visited on theirScandinavian farewell. line and James) in August in Oslo and withNana nicebreakfast GR93 through.”passing friends living orto inthearea host delighted to upbe with meet alums We’d my search. while Iconduct job andconsultingworkadvisory Europe. I’m planningto dosome in the Netherlands in or elsewhere a role CEO manager or general here I’min thekids’ schools. for looking My wife, Christine, involved is very kidsfrommeeting allover theworld. where they’renational schools, andCharlotte (10)are atinter (12), my family. William(14), Georgia moved to theNetherlands with moves on quickly.” inChicago. married gotten just Life whilewe wereborn atPenn,has Thomas,whowasis thatourson, after life. corporate big news Other refreshing very butitfeels ial step Neil Pricetells us: “Just com reports: “I took took LippmanMark reports: “I From just Bret Sewell writes: “I’ve (andCaro Montague George : “I had P.M. : “I Steckmest

------three is off to college—three down, three is off to college—three around famous/rich person.” on Facebook of them pics with arm posting people beef: Biggest cues. or even droppingon politics subtle tiated myself by commenting not and healthy. I’ve I trust differen allare wellTime andsuch.Hope howevertimes, … iPads andFace are differentI was akid).These store ormow lawns (asIdidwhen orice-cream work atarestaurant life. them to wish I could get I just Wace. Children are having anice atMarshall apartner still same: andliving work is in the Scarsdale, friends this year!” WG91love withother to connect culture andcivic leadership. Would ship, and but we work also in arts merace. an email!” Send for the 2019 to Marblehead Halifax Norfolk to Tortola. forcrew Looking Bay. InNovember, Ihadsailed fromfinal leg to Newport Oyster by I was joined nauticalmiles. 2,200 Coast—about biosciences andinentrepreneur biosciences is on grant making focus in the Our the FlinnFoundation isagreat fit. a year now, my new role as CEO of “Although at I’ve it for almost been Jordan Foster WG91 &family WG91 Foster Jordan WG91 Crist Lance Miguel Osio WG91 &family WG91 Osio Miguel Rick Deitch writes: “KidRick Deitch number Jordan Foster shares: “Still From Tammy: McLeod for the forthe Crist Lance - - - boards, including those ofa includingthose boards, onseveral publiccompanyserved ment, over 18years thepast Ihave area. In addition to money manage semi-retirement intheNorth Dallas toreturned Texas into and settled Hills, in MI, Bloomfield ners I have Part of Braeburn Capital manager years asfounderandportfolio and happiness.” Wishing everyone success, health, cansayhow many thesame. classes years! Thankyou, Chris. I wonder this upafteris keeping all these impressivevery that and updates, class allthese to see the New York metro area. Good withany intogether classmates New andamhappy to Jersey get nonprofit Ilive work. and work in doing some 13 yearspast and also for the in the fintech industry been to have still kidsinthehouse. I’ve gether, 15to 26, ages andit’s great workrsrfinance.com.” at stuff at janesedeitch.com andmy boring out Janese’sCheck paintings latest was Nova summer. this past Scotia trip recent Best search. college hisown andstarting high school is a junior in And our son youngest visitingherthere soon. and Iwillbe andJanese abroad inCopenhagen, daughter isdoinghersemester Our in NYCbased of Europe. instead workingstill at Palantir but is now isin son September. oldest Our of Engineering College sin-Madison attheUniversitystarted ofWiscon Aidan, middleson, one toOur go! and I have four daughters alto My happen. wife, of things Bobbi, kinds these daughters,married so crazy.which seems Ihave two had myjust Gavi, grandson, first WG91 Holiday Dinner 2018 WG91 shares: “After Canaan Lee 16 From : “I Michael Luxenberg: “I Chris Malone - - - -

Teller, Mafia: with the Latin together years, Iget in Hawaii, two andevery to three surfing go and Istill Chris Malone for my andtheirfamilies. clients happiness to maximize trying Stanley, atMorgan 20s. Iamstill whenWharton she was in her early she was brave enough to me at join isdoingfine;Ican’tLaura believe for Capital. Winston cial news video produces/reports aSpanishfinan View,Mountain CA), and Miguel (moving tois working forGoogle the city on their own. Alejandro workingjandro andliving (23), in andAle our two Miguel(27) boys, livingstill here. We by are blessed to New York after and Wharton are years ago,Twenty-seven we moved Waooo! Turkey! from Cappadocia, few days at a time).” and it’s back(ifonly great to fora be place, Philadelphiaisaspecial 1991. inthecitysince we left in changes allthepositivegratifying to see ismerely It’s steam. airport) been andthePhilly Wharton between (driving stacks coming from those to everyone that the‘smoke’ you see River since1866. Icannow confirm ontheSchuylkill inoperation been and has complex Coast on the East summer. refinery Itisthelargest this exitfrom bankruptcy its upon boardadelphia EnergySolutions was recently to asked the Phil join City. But I’m excited to share that I inOklahomaof PanhandleO&G asadirector and Icurrently serve company, aSPAC, andtwo E&Ps, pre-revenue an biotech, auto parts Barra and , Correa writes: “Cheers writes: “Cheers Miguel Osio Javier. This deOlea Gomez , Alfonso Aguilar, Federico Ramos Francia Paolo, Pigorini , Claudio Leon Jaime dela Fernando Gustavo - - - , NYC inNovember. timewas Agood rific WG91 pre-holiday dinnerin we ter had another King, Lorrie next.”cepts con am embarkingonwellness and growing and building startups oneofthisteam. Ilovenumber as ofemployee an idea grow a seed incubator. adelightto Ithasbeen oftheLoeb.nyc asapart Beauty fouryears, I’vealmost builtSiO respite from NYC. work-wise. For in Waikiki. Itwas anice, relaxing visit withhiswonderful wife, Maria, University ofHawaii campusand Bystrom upwithBen meet atthe to stay atJane Page’s homeand Hawaii. We were enough fortunate a visitto homeland, my mother’s our frequently journeys take us on continue to live inNYC. However, and I Morales, husband, Edbert one a great 2019.” and King’s Wishingevery College. School at UCL Medical in London, are their pursuing higher studies twins Our bank inthecountry). ident andCEOofHBL(largest year to therole assume ofpres pore, Ireturned to last Pakistan and Liz and husband to Jennifer.” dad to Abby being and enjoying Ferry, mynear Dobbs NY, home, College Mercyteaching finance at convertible ratings), bond writing, investment (litigationsupport, sors my consultingfirm,HillsideAdvi Oléee!” CasanuevaCarlos . Olé Joaquin, Javier, Zamorano and year, we to are Spainto going join years inAmsterdam andSinga “Havingwrites: 18 thepast spent Also, thanksto Jane and Page “My King reports: Lorrie Muhammad Aurangzeb From Bill Feingold : “Running spring/summer 2019 wharton magazine 83 ------

92 [email protected] Chris Malone ↑ WG91ClassCorrespondent 2019!ber usinNovem join had by all.Please Abhishek Mehta, intent on building intent onbuilding Abhishek Mehta, and CEO with co-founder Tresata in 2010 to start banking industry ofAmerica.Helefttheat Bank vicepresident asenior to become ton’s MBAprogram andwent on from graduated Whar Zealand, $1 billion. Richard, a native of New ment that values the company at includ back to Philly forreasons moved Vegas from Las and adog, (daughtergirl cast Anna), two cats, Australia.”Coast, inaworld peted triathloninGold Triathlon National Team and com USA fora Dad: “Our qualified son howRay’s about Ryan? son, Boasts Kahn, thetriathlete? Okay, okay, What’s more fun than that?” game drive Uganda. inwestern andtodayress, we’re on a going humbling. We madeaton ofprog “It’s gratifying andreports: been and wayslivelihoods oflife. He cooperative movement to improve a Ugandan mission? To jump-start developmentegy off-site. The announced a $50 millioninvest a$50 announced by Richard, Morris co-founded softwareanalytics company alike.and small companies Fortune 10 serving ing business, consult business-transformation she’s tending not to her vibrant thropic community—that is, when strongly to tied the Nevada philan Foundation Marilynisstill board, chair oftheNevada State College the PhiladelphiaYouth As Ballet! and pre-med) (possibly ing school where a week-long he led strat I caught him in Africa,projects. of his time to development-sector yahoo.com. Reachwork. heratdinaweitzman@ help with her life-saving She needs into energy.”to down break food insulin butcan’t it effectively use produces insulin. In T2, the body produce cannot thebody 2. InT1, is completely Type different from two “T1D JDRFgalas.Shewrites: $2.6 million as chairwomanfor Marilyn Jentzen Would you believe Raymond Tresata, aCharlotte-basedTresata, dedicates 15 percent dedicates Callan Ed Dina Weitzman is search diabetes (Type 1) and raised 1)andraised (Type diabetes ing for acure for juvenile andherall------

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 84 wharton magazine spring/summer 2019 NYC. We’ve exploring sincebeen in pastries ing Recolte Bakery he didcallmewhile Iwas enjoy muted) with Will Gardenswartz , 96th Streets. Westtrain between 72nd and West coincidentalrideonthe2shared, with lobster. withMaine topped No food my accompanied salad K) perfectly Boston, withBradKarasik.Andingelato Mysore with Harishthe Pelican Lounge reunions. at InDallas,itwas BBQ my way through miniWharton travel, of domestic lot I’ve so eaten him know! through sunny Toronto shouldlet Folksrate traveling directorships. ofcorpo for hisgrowing portfolio watch, either. Thatwillleave time well, there won’t any be onhis if years, all goes so forin 12 Canada There hasn’t an insolvency been authority. resolution insolvency insuranceindustries’Canadian was CEOofPacicc, appointed the This February, Campbell Alister [email protected] Joe Hage ↑ WG92ClassCorrespondent marketing. omni-channel fraud, and like money laundering, problems complexbusiness tackled To date, Tresata’s have solutions ofdatatheyown.mous amounts oftheenor care makesense health rangingfrom bankingto industries inetization, helpingcompanies anddatamon data management of AI softwareclass that automates created anew atTresata colleagues around bigdata.Richard andhis world’s challengingissues most a company the thatcouldaddress While I haven’t (or com dined My relatively involves new job a Scott ScovelScott a, though.Just (Cohort (Cohort Ann-Mara Lanza (Hash). In Philly, it was of diverse perspectives. You willbecome an invaluable assetandabetter leader if you take advantage ofopportunities discusses the benefits of Johnson WG91discussesthebenefitsof “A team isstrongest when it’s full Susan Somersille SunTrust BanksCMOSusanSomersille the to gain different experiences.” making radical career changes on making radicalcareerchangeson Wharton MagazineBlogNetwork. QUOTED - - - - -

94 well thatyou and,inmany cases, Year’s to letmeknow thatallwas right after Newwith quick notes and Marisa Graziano ford L! Hello Cohort [email protected] Scott Horn ↑ WG94ClassCorrespondent Rohingya in April.” camps refugee the to document to Bangladesh Weing globalproject. are nextgoing you’d likedetailsonthiscontinu to informationif provide further crisis.We’dthe ongoing happy be International awareness to raise of exhibited this work with Amnesty at bit.ly/HMTEDx. We recently Talklink to ourTEDx ontheproject thepoweroffaces.com andfinda Mexico. You at the images can see and, more recently, Tijuana, inGreece people to displaced traits we’ve given ofpor outthousands andto date camps, into refugee tantly, printers we bring portable Theywrite: “Impor as refugees. viduals merely and not their label [email protected] Karen Levine ↑ CohortBRep Vudu service. streaming video his exciting work withWalmart’s around opportunities partnership of refugee camps to focus onindi to focus camps of refugee intentionally out the crops context Power ofFaces” project portrait is. “The arefugee on whoor“what” and grace, theconversation to raise world with courage, beauty, dignity, around the show people displaced Several of you—Several —wrote in Raghu Krishnaiah , Timmo Sturm, mentary photographers who who photographers mentary areTheresa Menders docu Daniel Farber Huang and Amede HungerAmede ,

Dan Joseph

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------, heard, news: who Forhave those not distressing some brings also Green from our class. forlunch with together recentlymany got Ialso others. Ji , (Byrd) Gangi , Landler few magazine editions. Iperson few magazineeditions. forthepast update had acohort we haven’tthe news now because several months, I shareit has been summer. last unexpectedly While Nejame Scott! against inrebellion the daughters while he isgone, Jennifer leads brokera fixed-income dealer, and Securities, Pierpont out Amherst tocontinues travel to NYC to build home alone with the parents. Scott at and stuck toiling in high school play soccer, still andtheyoungest enteringmiddle onejust UNCto N.C. the team, State cross-country runningforthewith theoldest lina with their three daughters, weekends out of Miami!” crewold sailing towithmeon sail formy andamlooking president merce platform eShopWorld as US in New York runningglobalecom in touch!keep Reunion, we’ll you, miss andplease makeitto whocannot For those manyso ofyou are doingwell. Reunion.25th It is great to hear coming to our upcomingwill be sure ofbumpinginto heraround andoften hadthe plea from school ally have many ofMargot memories , Bachmann Fresen fer to see where Igot month in New last class York union happy hour for our Pierce WG95 live inNorth Caro From Daniel Farber Huang and Theresa Menders WG94’s “Power of Faces" project Faces" of “Power WG94’s Menders Theresa and Huang Farber Daniel From m P Unfortunately, thisupdate We had a great pre-Re Scott “Iam writes: Cynthia Hollen , errello, J.D. Friedland, passed away passed Margot Levin , , and Jennifer Nona Ullman, Andrea Gural, Byron Haney, Liz Kreuz, Ashok MayyaAshok , and Ephraim Fields, Mitch ( Jurcazak) Richard Dwight Denise Philip Schaf John Phil ------95 [email protected] wharton.upenn.edu or corey.luskin.wg94@ Corey Luskin ↑ CohortLRep love. fondly, Margot ber and with much and Cynthia Hollen in attendance, including fellow L’s York withmany ofourclassmates inNewMargot’s memorialservice at showheartwarming ofsupport her.wonderful to see There was a and catch up, anditwas always New York. We would walk together one million fortune cookies aday, cookies one millionfortune rolls a dayegg and make more than buffet. We hand-roll over 600,000 you ontheChinese everything see “We have andmake fourplants company area: here in the St. Louis manufacturing food a Chinese Internationalrunning Baily Foods, warm welcome to the city.” NettoMoulin WG91 forsucha and to for the introduction, Carcamo WG96out to Humberto giginRio:“Aa three-week shout- year’s highlightwas Last projects. world for e-marketing looking travellingPetie! Peter isstill the Thanks, all the A banter! collecting to Peter kudos Huge McNamara [email protected] Jeanne McPhillipsDolan ↑ WG95ClassCorrespondent with us. with us. Shore,Jersey comewalk theboards to you! Ifyou’re ever down atthe at yourthe windbe backs. Love burning. Kudos to you all, and may fire theconnection and keeping ofminireunions lots Seeing is living Engel Mark the dream XOXOXO, The Dream Matthew Sigman . We remem living Dreams. theWharton strong outtheregoing and Welcome to 2019, …still ‘95ers , Rupert Hayles Jose for for - ,

Zach Abrams ↑ CohortARep year.last attheSydneyattendees forum Forums? WG95 hadthe most hire an associate. in private to and trying companies who want their investments to sell capital—I’m forpeople looking venture Francisco doing late-stage the street.” grade across second submarine. Karen teaches still to workand headed onanuclear from theNaval Academy inMay year, graduating with our oldest and all three kids are this in college June, yearsI were last 25 married employees. Karen and production alittleSpanishfrom ourlearning andam withcustomers my Chinese Tonsof noodles. of to fun. I get use andavariety stickers, plus tofu, pot & family WG95 Valladares Rodriguez Mayra WG95 Malden & Matt Bates John B Cohort WG95 Bassett Koo & Patty Smith Greg Who’s attending theGlobal Abrams inSan ) amstill I (Zach

Feldmann, [email protected] Paula Cacossa ↑ CohortEReps Finlayson. , andRichard andKristin Delcourt and Frederic Winssinger reunion! upWharton with Jen Met C95 ter ofCraig Whitney is the daugh CA. Malibu, Whitney Enenstein’s bat mitzvah in Ventures LLC.” The company Two Twenty iscalled andprivateestate investments. on real focused a business manage Iamcontinuingto AZ! Scottsdale, is well with yours truly in sunny Caps! John at the Stanley Cup. Bates Go, Hemet upwith mentum. Congrats! officeratEle is now chiefproduct He hasabigupdate! Malden Matt hotmail.com jenniferharker@ Jennifer Harker ↑ CohortBRep world!” to catch uplater inthe day. Small and Patty and I sons, had a chance forour It was connection aninstant herhusband)went also to Williams. thatPatty(and,itturnsout, bered B! I rememclassmate from Cohort Patty, my Koo Bassett Wharton Chris’s I realized second, mom was ‘Hi, and I’m hisdad.’ And within a inandsaid, leaned parents, Ijust to Chrisandhis himself duced himself.to heintro introduce As Coleston Iencouraged parents, so of moving into with his his room was intheprocess Chris Bassett, neighbor, thathisnext-door ized andreal inhisdormroom Coleston at Williams,Iwas talkingto my son day move-in During forfreshmen to onasmall-world pass story: laughs!and I wanted caught some while shewas working nearby Jeanne McPhillips Wasproject. with ableto connect travelingwhen not oronanactive hangingoutinRidgewoodbeen buthave withMcKinsey advisor doingconsultingasasenior am still lous oneand only Greg Smith awesome from ourfabu update Hey heyhey, B’s. We have an com zabrams@stratimpartners. In September, we went to Nancy Park “All Casey shares: . We and had had a blast a mini Carolyn Enenstein and Carolyn Enenstein Ethan Eisner,

last summer last , Nicolas Nicolas Sabine Sabine : “I ------family in Breckenridge, CO. He took winter holidays skiing with his terrey, Mexico, the thathespent consumer brands. andwhere business he isheading to Vocus Group, a challenger telco, thathehasmoved Melbourne hot future!the near catching up with alums Wharton in Rohitpionships. forward to looks the national-level basketballcham thestatein daughter isrepresenting for later thisyear,colleges andtheir to hasapplied doing well. Theirson Hisfamily is ClubofDelhi. Wharton of the heispresident alums because intouch withbut Rohit keeps from visitDelhi, ourclass people many thatnot platform. Henotes training with amobileporate eight, and seven. 11, dren, ages his free time. They have three chil in sailing enjoys advising. Healso withsidework onrestructuring ing, toy and manufactur design began world withhiswife, and, together Kong thathehasleftthebanking with friends! Wharton to reunite soon He hopes talents. and liveliness amongthe younger environment school the beautiful byin 20 years. He was impressed to revisit Philly time for the first paring theoffice, hehadachance 2018. While he was in New York pre was in New opened York in October recent office expansion. The most the firm’sHis role includes global enjoyingitimmensely.has been yer insucharole inJapan and Japan. is the only He also non-law law thelargest firmin& Asahi, team ofNishimuramanagement onthe hehasbeen Melbourne, After returning to Tokyo from of Uniqlo inAustralia in2016. the parent of Uniqlo,ing, as CEO have two 21 and 18. children, ages history.corporate Heandhiswife inJapanese M&Aproject the largest Takeda on the acquisition of Shire, 20years. Recentlypast headvised for the ment banking at JPMorgan workingthat he has been in invest Yohtaro Hongo from writes Tokyo [email protected] Nancy ParkCasey slow inand cor steady progress four years.past They are making Vitaminsforthe Chapter startup that hehasstayed busywithhis writes fromLuis Katz writes Mon Antony de Jong from writes Rohit Kumar Surek from writes HongScott Sho Miyasaka leftFast Retail writes from India writes spring/summer 2019 wharton magazine 85 ------in health care.in health for opportunities ing while looking ready to fully retire. She is consult retirement from but isn’t Merck ata freshman Dartmouth. time, their as daughter has started fabulous experience. Inthemean allowed.as her schedule It was a traveled asmuch backandforth to study there.opportunity Lisa hadtheand their14-year-old son study-abroad inLondon, program department’s history Dartmouth Miller,her husband,Ed the led autumn, This past abroad course. study- thelargest and directing requirement the globalexperiences helping to run of Business, School NH, that works she still at Tuck buddies. his Lauder —basically, Matsuo Masatoshi all Steve Gitlin , intouch withclassmates He keeps plays andtennis. ofhockey alot pastry. Inhisleisure time, hestill chocolate, much and cheese, Swiss toogreat break skiingandeating to visit his parents. He had a goes where heregularlySwitzerland, of university. Eric back is from just who’sold son year inhissecond and a 19-year- undergrad studies her old daughter finished whojust met inPhilly. Theyhave a21-year- whomhe tomarried Elizabeth, Ericisstill markets. residential and to theOntariobusiness sures mea marketing of energy-efficient forthe ateam responsible leading in the energy field, conservation graduating from He’s Wharton. whereCanada), he’s since been the Great White North (Toronto, community in Mexico. retirement fortheJewish residence ofEishel,a oftheboard president as stint athree-year finished just Luis andscratches. many bruises and is he steep hascurve to endure it,thoughthelearningenjoying andisof friendsfourmonthsago up mountain biking with acouple Texas, Alabama, Mississippi, and invarious withstops towns inFL, allthe waystructed), to Sarasota, where Trump’s wall con might be TexasMcAllen, (theepicenter of mas, sheandherfamily drove from the Canadian Rockies. For Rockies. the Canadian Christ her family hadan amazing tripto summer, Last road alot. sheand from New York! onthe Shehasbeen everyonewishes ahappy New Year Mayra Rodriguez Valladares Vivian Minarecently early took from Millerwrites Hanover,Lisa Eric Dreyfuss lives still in , and , and Moraes Roberto - - - - -

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 86 wharton magazine spring/summer 2019 ness exploratory meeting with meeting exploratory ness recently andhadabusi London through whilepassing Bourron withChristinea morningcoffee to enjoyHe hadtheopportunity industry.revolutionize thebattery that could device startup a storage withoneofhisclients, larly pleased Group.Consulting Heisparticu founding his company, Controllers have mark of the one-year passed New York. into him on in the street bumped WG94up with ElanCohen , who is insight!Herecently caught that hementionsnoslowdown the economy is likely to slow now slowdown in sight. that Jon notes withnoat Heidrick&Struggles, now that he is away. Work is busy roomannex his older brother’s to to try theopportunity seized him. Meanwhile, the younger son without empty seems the house and college, started son His oldest busy year forhimandhisfamily. New York avery thatithasbeen quoted. be and let her knowested if you can her if you contact please are inter banking and capital so markets, related to issues important about anycomes you ideas mighthave forForbespublishing alot . Shewel tant andtrainer, Mayra hasbeen to working asafinancialconsul expansive Inaddition GulfCoast. oflifealongthe aglimpse to get Florida. Thisgave themachance WG95 Classmates Skiing Weekend Skiing Classmates WG95 is thrilled to isthrilled Mike Zemble fromJon reports Goldstein - - - - - Their daughter is attending UCLA, Their daughter isattending UCLA, BoudewijnG classmate Jansen. and in met Europe Cohort versary celebrated theirwedding 21st anni Heandhiswiferecentlypanies. capital to com technology-related onproviding focusing BlackRock, venture forleads lendingefforts direct-lending Hecurrently roles. variety ofinvestment bankingand since1997San Francisco ina brain state. onthetrader’s based ity ofastock theprofitabil to predict the science executives. Theyare even applying andcorporate athletes fessional workgreat doing some with pro Theycurrentlyperformance. are dramatically improving human company, PlatypusNeuro, and neuroscience for a cutting-edge San Diego, where sheisworking grandson! ofherfirst thebirth importantly) and(moreHome remodeling that2018was fullofchange: L.A. high school. in isafreshman and theyoungest ter will attend Princeton in the fall, Ohio.Columbus, daugh Hisoldest New York lives He still offices. in and theHouston between cycles New Jersey! through visitors passing central chance to catch up. Hewelcomes Shankman, whichwas anice David Gmember fellow Cohort has been inBrad Pritchard has been Jamie Gallo moved to sunny Jacqueline Davis Kevin Reeves withBPand isstill writes from writes - - - - - from uterine fibroids and endome help millionsofwomen suffering space, launchingnewadvances to back in tothe women’s be health to SanFrancisco. excited Sheisvery and has moved in December ences commercial officer of Myovant Sci WY. They had a great time! weekend skiinginJackson Hole, Sinclairpher, andCaren foragirls’ , Fjelstul Elizabeth mates WG95up withKatieandother class ing to college. having children whoare now apply is stress doing well. Theirbiggest and herhusband,Jeff Hagan, are innovation firmandloving it.She and beverageworking for a food to SoCal. ofvisits theyare enjoying lots so ter. after three years. IleftCerus wife and our eight-year-old daugh Germany,Berlin, withmy Spanish years in Asia. Vidal after 10 are back inLondon Austria business. ofthecompany’sVienna ashead move to24 years andwillsoon after withShe AstraZeneca is still Year’s with Kim and her family. stay tuned. for2020, isscheduled Launch so cancer.an indicationforprostate working Theyare on also triosis. started aschiefKim Sablichstarted Nancy Liffmannrecently met Katie Hagan isinSanFrancisco, Bob TownsendI (Bob in) amstill Bis Subramanian andLaura Sarah Walters Martie D’ApiceMartie , celebrated New celebrated Lori Christo Lori Lori YuhasLori , ------with and itwas to fantastic connect of New networking Jersey event, my way to my Wharton first Women theonlineplatform.Found Launch, girl power and locally working on liveanother radioshow to curate Launched launch withSuperGirlls. empower young women college to daily forclarityandinspirationto Walkingreport: onthe theboards and make a memory! forth place nextyear asyou are today. Go failure. same Fear intheexact being Don’t fear Newories. opportunities. New Newmoments. mem lessons. #NoRegrets. New year. New [email protected] Bob Townsend ↑ CohortGRep time since 2004. run in under for fourthe hours first overall) andwas(and 12th ableto marathonforthesixthtime Berlin care.health InSeptember, Iranthe fornewemployment in am looking overtries three years, thepast and traveling week, every to 30coun Iwasintense: ontheroad almost The work was fun,butthepace was world! We have ofupdates lots wherever you may around the be world.estate and Jamie thereal rocking isstill marketing, working inhealth-care same. Heidiis theexact who look Bob Townsend WG95 Townsend Bob Paul Rudick WG95 My (Jeanne’s) Shore Jersey Greetings to all Cohort H people, H people, toGreetings all Cohort Heidi and Jamie WG94 Block , - - to join a venture-backed oncology oncology toa venture-backed join after 15 years, Paul is leaving Pfizer And autumn. Congratulations! inthe school to theengineering in thePenntradition,heading to continue is about son His oldest 18, 16, ages sons, three and13years. Philadelphia withhiswifeand thatwrites he is “still” living in time.in some Way to go, H! Cohort we haven’tclassmates from heard this quarter, includingfrom some Clemens Rinnebach WG96 NarayanPankaj & WG96 family WG96 Duplan Sergio WG96 Dare Julia First upisPaulFirst Rudick . He is passionate about neuroscience, is passionate about . Rosie says she The Big Question called King, Larry legend media withCNN and book best-selling a exciting news:Sheco-authored very uswith some she updates from London; hugs shesend does from Rosiebreak, Unite. Not only Chadwicks! andthea bighelloto theWises in their new home,happiness and much andLauren Wishing Mark Craig Wise and John Chadwick. a couple H friends, of their cohort Nashville home to to be happens because madeeasier has been care.on health Theirtransition at aventure capitalfundfocused Nashville. ajob accepted Lauren from(late NYC 2018)relocated to andfamilyHe andLauren recently the family are doing well. andnine, andall her kidsare now 12 are proud of you! On a family note, tier Well markets. done, Sonya. We inemergingandfron institutions financialinvesting inresponsible global financialinclusionby isto mission support social-impact Thecompany’sManagement. development, forMicroVest Capital tion asmanagingdirector, business of 2018. Shehastakenanewposi towardago?), jobs changed the end was that really (yikes, ayearago ayear about her family inLondon along with great pleasure of seeing the top of Africa’s mountain. tallest ofluckwiththeclimbto and best tions on your 20 years of marriage, Congratula coachinghockey! still itinerary, David, you’re andIsee sary.” That’s and quite aschedule with Kelly for our 20th anniver to climbKilimanjaroand headed inhockey, boys teenage ing three coach Azure atMicrosoft, team his own words, enjoying “the still and only is,in David ! He Zarling done, Sandeep! IHG,ott, Well andChoiceHotels. Franchisers includeHilton, Marri Franchisers hotels withatotal of1,050 rooms. year andfranchised is now up to 12 over hotels three added thepast amazing 2018. Hiscompany has exciting work year following an your next adventures. Paul,for the familybest, thevery of Brotherly Love. We wishyou and any visitingtheCity ofthecohort startup. Heandhisfamily welcome We heard, after a brief also Next up, Mr.! Brueggen Mark Sonya Sbar, whom I had the We heardfrom theone also Sandeep Thakrarishaving an ------Brian Breezy 2019all. Make XO ROCK. Jeanne + toon theline. you Love andpeace wider Community! Wharton onto andthe your colleagues class them andhonortopleasure pass Itisour your andupdates. stories down here),anyone so who swings live including Greglist, Allen , many (too toWG95 in DC people in, it’s a bunch of fun. I see good different industry, buttwo months on a to up in to getting learn speed thatworks Lots outgreat. so DC, company in to be thathappens CEO back in November. It’s a cool company Systems as Kastle called ty-technology-managed-services amazing year off,securi a joined I news: “My is that after update an Lynn, who in did with check this thankyouaround, so to Haniel thistimetralia) to write notes America) or sweltering (Aus busy eithershoveling (North tion list. distribu to ourcohort added get toCynthia, [email protected] me, contact please for updates, two emailsayear from measking Hi, J’s! ifyou First, don’t atleast get [email protected] Brian Owens [email protected] Jeanne McPhillipsDolan ↑ CohortHReps Best, detailonhow wefurther canhelp. and don’t to hesitate reach outfor milestone, ebrating this important meincel join retail space. Please withinthe more stores or closed tory, exits, facilitated more country ofmore inven disposed leases, moreNo team hasrestructured to transformtheirbusinesses. tools of set offer retailers the broadest retailers. we forces, By joining now toelevate services ourcombined alliance with JLL toa strategic hasentered Brothers intoGordon am excited to share thenewsthat in London. H-ers always to from hear our fellow good achievement,great Rosie, and definitely worth a read! What a at imaginatelife.com. It’s free and magical-medical-mystical story ing lives. You candownload her and spiritualityintransform quantumphysics,epigenetics, And that’s a wrap, you folks. See Thank you onceagainforall I think a lot of people are too ofpeople I thinkalot From ourelusive Iceman:“I Ken ‘Iceman’ Frieze.” spring/summer 2019 wharton magazine 87 ------96 started two key new areas: process two keynewareas: process started andwecon GmbH,isgrowing, too. My own company, Emarti However, theUKwas infocus, e.g., Russia andSerbia.sulting, family. withthe Cana andPunta Mexico a relaxing holidayinspent season is really enjoying theweather. He sixyearsin Dallasforthepast and sia for their honeymoon. [email protected] James LiamDolan ↑ CohortLRep terday. voyage! Bon our almamater liketheywere yes at oldtimes chattingabout hood, intheneighbor Italian restaurant atacozy thendined home inBondi, happy hour bonfire at Peter’s cool the University of Sydney. We had a whowas abroad studying at Mark, while we were October last visiting McNamara and family inSydney man! Sweet Reunion withPeter … good story quite thesuccess since he’s and here inJersey local ial banter Fishman, withElliot tradingentrepreneur been also I’ve with one graduated. Congrats! hastwoand still kidsincollege, family withhisgorgeous Love intheCityofBrotherlystationed Philishappily shared! memories Good on Sansom. at the White Dog and Doherty I was able to grab lunch with Phil While inPhilly foraquickjaunt, ontheline…with abriefupdate Ahoy, Jumping into mates! 2019 [email protected] Cynthia Grisé ↑ CohortJRep and Iare that.” really excited about AnitaENG91 intogotten Penn,so unbelievably hasjust high school, Carter, in whoisnow asenior My son together! people I’ll get through town shouldcallme, and was opening wasnew regions for con opening for me, personally, recent project Themostinterim management. consulting andbalancing both my time. Thisyear, Icurrently am of most consumed engagements year,“Last interim management New Year from the Narayans!” Pankaj Narayan living Duplan hasbeen Sergio Clemens Rinnebach shares: will be sailing French sailing will be Polyne date in June. They Congrats! Julia Dare hasawedding Jeanne McPhillips says, “Happy ------

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 88 wharton magazine spring/summer 2019 at Wharton, got married two married years got at Wharton, boy whenI was little five-year-old officer. My Ryo, son, whowas a Exchange, asmanagingexecutive company, ontheTokyo listed Stock Now Iamworking estate forareal in Tokyo, Shanghai,andSingapore. IhaveSchool, my spent career time “After graduatingfrom the Wharton boys.”teenage all)up withmy (almost three years now. Enjoying it and keeping Inc., where 2.5 for I’ve about been DiGrande:“StillatGap Sebastian of eggs.” that we always have supply afresh chickens (we haveso five ofthose) my husband,Kuni, raising isalso to (we raising dogs have four now), days. these college And in addition and highschool, middle school, note, my kidsnow three span On a personal ment opportunities. develop of globalexternal business leading the commercial assessment I’ve taken on a new role instead thistime!), (seriously Pfizer contemplating retirement from of fun with her.”lots andweMy have daughter 12, turned Iwas inIndia withmybreak, wife. theChristmaswith China.Over I amplanningto develop business and new energy.management Also, Mina (Takayanagi) WG96 Martinez Tetsuya (Ted) Takagi WG96 Tetsuya (Ted) Takagi updates: fromNot newto alot report “After Cheighwrites: Eileen - 97 global head of strategic partner ofstrategic global head [email protected] Julie Wingerter ↑ CohortCReps and laundry. roofs, leaking water like frozen pipes, ant projects my tableonimport diningroom working from ) aminBoston, erter in thetech space. I(Julie Wing contacts forAustin, TX, looking tech startups—andMiddle East opment and fund-raising with devel inbusiness Dubai, working on in it. … I have what NO is idea going John Ulrich. Fun photo (top right) withclassmate inMexico tioned thattheyrecently vacaGoogle, Francisco, where she works for from SanRuth reports Kirschner wharton.upenn.edu linda.chandler.wg97@ Linda Chandler ↑ WG97ClassCorrespondent team. leadership senior oftheorganization’s amember be of aplanetinbalance. will Robert work toward vision thesociety’s asthey partners andits Society of the Nationalimpact Geographic the to increase and corporations with organizations,foundations, cultivating alliances sustainable forbuildingand responsible be Inthiscapacity,ships. will Robert [email protected] Martinez Mina (Takayanagi) ↑ CohortBRep Fund. Ping me if you’re in town! Islander AmericanScholarship &Pacificchapter oftheAsian theHongKongteens andheading work! I’m raising my enjoying two my farmore coulduse Mandarin inhand, residency permanent in Hong Kong! While I have my It’s seven years since I been arrived [email protected] Jacqui Jenkins ↑ WG96ClassCorrespondent this year!” mates isfinewithourclass everything working intheITindustry. Hope inPhiladelphia,isnowwas born Myyear! daughter, Izumi, who ago, a grandfather and this I will be as as Bernard ment ofRobert the appoint announced Society National Geographic Nadine in Orosa is still ------TV and radio), preceded by Merkle, by Merkle, andradio),preceded TV Washington,(greater public DC, Since 2013, he’s at WETA been onthenonprofit space.focused years 15-ish eighth, withhislast Street Partners. thenWaterCEB (now Gartner), having atMcKinsey, started then onat-riskcompany kids)— focused services (aneducation Learning graduation, and which ones? many have places you worked since time was one:How abenchmarking “makingOur question” iteasy this [email protected] Ruth Kirschner Ruth Kirschner WG97 (second from left) from (second WG97 Kirschner Ruth Georgette Montalvan WG00 & family WG00 Montalvan Georgette & family WG97 Armony Izhar Jeff or isonhisseventh Regen I’m on my fourth—Catapult tive, it’s professionally takenhim perspec from alist-of-companies that while it’s exciting very not Hewrites stint). startup a short since graduation (minus Microsoft ern Co. Rackspace, andSouth Microsoft, by CSOFT,graduation, preceded is hisfifthplaceofwork since This manufacturing. on process companya dataanalytics focused since graduation. and the UK the US worked inboth company, Lynch, Merrill having of Wildlife, and One. Capital Defenders M+R Strategic Services, has been withJeff hasbeen Donosky Will Knightiscurrently atSeeq, Omid Rezania is at his fifth - - 00 99 Law Journal’sLaw ofcryp inaugurallist changing diapers. Thatsoundschanging diapers. 20 years andstill outofWharton I’mEmi, backinJune …so almost daughter,we welcomed oursecond On the familyacquire side, a bank. to tunnel process in our regulatory and there islightattheendof year,We Alast aSeries closed isinalpha.road, andourproduct upenn.edu lucy.carone.wg99@wharton. Lucy CaroneElliott ↑ WG99ClassCorrespondent opportunities. evolving and Miami about London, weeks, in Madrid, he’ll speaking be Institute.Research Inthecoming on facultyfortheBlockchain and Council Business Blockchain Davos, oftheGlobal heisamember having thisyear earlier at presented developments. Inadditionto latest andtrackthe to discuss leaders with global meets Joel trailblazers. tocurrency, andfintech blockchain, yahoo.com michalkisilevitz@ Michal Kisilevitz ↑ CohortLRep them up.” I can hook thing, anyone ofsome abottle needs Boulder, and Key West. He says, “If of craft-spirits in Austin, companies group and in Detroit an accelerator aprivatehis timebetween equity three years, he’s splitting been Forferent the techpast startups. then, he’s worked with seven dif in Philadelphia. Since at Comcast (his word, mine), for not four years one “real” since graduation job Jacobson thathe’s reports had studying at Penn. isWharton, now back in Philly and was in Philly born while we were at who Amos, shared that his son also River Ventures Izhar inBoston. place since graduation: Charles atthesameArmony hasbeen lives today. andstill assignment to-three-year where he moved in 2005 for a two- includingto Singapore,raphies, many and geog across functions And, rounding us up, thattheme, IzharContinuing was to theNational named Worcester partner, recently Joel Telpner, aSullivan & been an exciting, if not long, long, if not an exciting, been ging away atJiko.io: “It’s Rocky Motwani plug is still

Eric - - - - - found my binder/bulk Wharton 20th century.in theearly Irecently frontier life in theabout Philippines written by my great-grandmother I’m helping to amanuscript edit ing daughter. In my spare time, andcat-lovwould-be ninjason, withmy Angeles patienthusband, my Ifive-year liveLos mark. near the Emmys), where I’m to hit about for theTelevision Academy (a.k.a. operations ofbusiness and head Notes, me Class I’mE to send CFO wildlife habitat. creating andenjoying and woods, infields found withmuddy boots traveling theworld, Fabio often is with their two children. of Instead on the Eastern Shore of Maryland Mawr,their timeinBryn PA, and and his wife, Molly, of most spend mercial water in Fabio the US. use andcom ofresidential impact and lowering theenvironmental waterand airtreatment, reuse, ing proven forwater technologies onacquir focused new business a Heisnow starting Recession. attheepicenter oftheGreatrities marketvaluesubstantial ofsecu bought andheld ment firmthat a invest security) mortgage-backed (residential RMBS of a successful 2009 to 2017, hewas aco-founder initiatives.friendly From business andenvironmentallyagement, wildlifeman land conservation, onhisfamily,tors) to focus friends, (after many years and happy inves investment in2017 management Fabio Terlevich retired from [email protected] Mandy Pekin [email protected] Idris Mohammed ↑ CohortCReps youHope are all doing great!” attheSacred Valley.months ago p.a pic(see 88)ofthefamily some to years! the crazy teenage Here’s closer years oldalready! Getting are growing up. is 12 The oldest Kids alot. ing thenewchallenge company inPeru,asCFO. Enjoy Centenario, real estate the largest Iamnow working at sition period. a coupleofmonthsduringthetran million, and I stayed with them for drugstore in Peru for over $700 to workI used for to the largest “A year ago, we the business sold in NYC.” meupifyou’re right:)Look about When not haranguingCohortWhen not MontalvanGeorgette writes: ------nect with anyonenect in the area.” Lincoln, nine. Would love to recon W95 with my husband, BrianSchwartz chester, ofBoston), MA(outside division. living I am still in Win consumerelectronics forits egy where strat Iworking lead at Bose, form, I have moved on. I am now IoTplat andranits and started function, strategy team, product Keurig’s start I helped innovation “After seven where years at Keurig, a work forus: andfamily update would great to catch be up.” in town, let me know. please those It For eight, andone;backto diapers!). 10, kids(ages withthree am married I companies. services tech-enabled year), investing insoftware and withAccel-KKR(14th ation) andstill living in the Bay Area (since gradu there. trips business visited duringhis Park recently in touch inToronto, andJames John andAndrea Nickel keep andexperience. banking products asSVP ofpersonal ofMontreal Bank the Siena.John joined named just Roman named andababyson girl Toronto andhave afour-year-old together. living Theyare still in Mike, are celebrating21years several of you. Hello, J, Cohort [email protected] Heather Cochran ↑ CohortERep enough joy to keep. just anditsparked tiations class, Diamond’spack from Stuart nego & Natalie (Poon) Tarnopolsky WG00 Cohort L Cohort WG00 Tarnopolsky (Poon) & Natalie Tarnopolsky, Assaf Weil, Federico Katalan, Ziv Prof Rachel (Smith) Schwartz had amstill Jason Kleinwrites: “I John his partner, McNain and from thefamily updates Loved , and our kids Jed, 12, and 12, , andourkidsJed, spring/summer 2019 wharton magazine 89 ------year and13moves, includ together “Corinne and I are celebrating 28 Francois Truffierandhisfamily: , and, of course, resi Sharman, and,ofcourse, (Stratman) Kohnen, included visiting fellow alum,whorecently rado, to see whenIget especially and China.”the US, inFrance,operations Spain,Brazil, international group industrial with an asCEOofSynerlink, industry Corp., Imoved to thepackaging change. After 10year withTerex 14)number following my job recent backto Paris(moverelocate soon are butwill living inSwitzerland We inZurich,Switzerland. school 13, in the French who studies high and an engineer; Simon,become who is now in university in Paris to on the Penn campusborn in 2000, Ariane has two Jean, brothers: the Renmin University in Beijing. exchange program ofoneyear at withan school ishing business andfin 23 in 2000isnow almost who was runningonWalnut Walk the campus,ourfour-year-old Arianeon whoremember those ing eight international moves. For are surviving it, so far! are it, surviving so and now in middle and high school of us haveall doing well. Most kids Weiner and Liz(Kotlyarevsky)dent locals Weil andNatalie, andAssaf Ziv Katalan,Federicoprofessor with Aires inBuenos occurred L Reunion A mini Cohort Wharton [email protected] Jamie ParksMoyer ↑ CohortJRep It was year another for of change I am still loving livingI amstill inColo

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Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 90 wharton magazine spring/summer 2019 02 01 someone with—mental illness, sub with—mentalillness, someone supporting living with—or people to of therecovery andwellness the company in2015 andgrew it byacquired Istarted Eversana. minds.com. for Katherine’s story, visitforlike ence.” For more information and minds sharingtheirlived experi of like by the is nourished support and with hope starts This journey backgrounds andexperiences. withsimilar ofpeople munities inrelatableand engage micro-com “We to connect empower members life event. use,stance or a stressful gmail.com christian.m.tate@ Christian Tate ↑ CohortLRep time to time. see Raleigh, NC, area, where we to get Holding it down strong in the in Tokyo or when our paths cross. friends when Wharton with good downtime some chance to spend in ahigh-value marketandthe I’m always deals forgood looking (eight yearscompanies running). opment fortheHitachiDigital devel runningcorporate still occasion. this special familyfriends andextended for had a wonderful time visiting with did great, and they Argentina. Ben Ben’stheir son barmitzvah in Tarnopolsky as they celebrated Christian Tate & Assaf Tarnopolsky WG00 Cohort L Cohort WG00 Tarnopolsky & Assaf Tate Christian As forme, TateAs Christian , I’m Mindy and Chad Oakley online community dedicated online communitydedicated founder ofForLikeMinds, an Katherine Ponte isthe ) started, has been has been ) started, Shpilberg finding platformI(Sandra thepatient- Health, Seeker

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04 03 [email protected] Sara Kleinberg ↑ CohortFRep for her, and she’s really enjoying it. It’smanagement. anewindustry in May, working ininvestment data everyone to come visit. andwelcomes airport, in thelocal (Curaçao)andworking Caribbean Jon Greenwood . chair EricBradlow and department by marketing Wharton co-founded firm andresearch analytics, ing, gmail.com sandra.shpilberg@ Sandra Shpilberg ↑ CohortCRep years old. 12 of us don’t,rest 15 and to become shockingly,aged consideringthe her 10thyear there. have Herboys ident atDaVita,happily celebrating of massivestage growth. company,analytics next into its a mobileappmarketinganddata WG04 GameChangerSF, isleading enormous, andPhil Shpilberg Mytion integration. kidsare now throughHealth the post-acquisi year. to Seeker lead Icontinues revenue and tripling profit each whiledoublingtical customers biopharmaceu 40-plus to serve CA, for the past 10years and forthepast CA, I have Park, living inMenlo been joined Vanguard Bigler joined Susan Paulo Mazzali isliving inthe isagroupAnne Bailey vicepres a leading marketinga leading consult asInsights president. GBH is Jeremy Korst GBH joined California: “MyCalifornia: family and fromtin writes sunny Jessica Gilmar (Berlinger)

- - - - - 05 in centralNew York. willcon Marty and CEOofCayuga System Health asthepresident recently selected New York. was Stallone Marty newsfrom much-needed some rep editor,of cohort ha-ha!)sends reference. Iknow, abusive power nickname, butrathermy personal official title or even his Wharton which is super! that theycan’t politics, afford office is important, probably themost not one, though andagood to startups, addicted thatonewould be reasons thereReunion!” are many Jessica, you to see atthisyear’s Hope ups. I’m to start officially addicted years, I can say in 12 fifth startup space, since2018. Sincethisismy inthesenior-care startup a large chief marketingofficeratHonor, fields. I’ve beenball and soccer base or hangingoutatthelocal of our time skiing in Utah or Tahoe most and Bryce, spend seven—and We have two eight, boys—Julian, love living about intheBay Area? loveabsolutely it.What’s to not Christmas EveChristmas 2018, we received rather than venture capital. On world, via reinvested scaling profits employeesaround the andoffices with200-plus tising companies, [email protected] Chen Stockli ↑ CohortERep reading this magazine, too. all to Ami’s she’s credit, in case just I’msharp athomebase. sure it’s tidy andthe Stallonesquadron keeping doingagreat job be must Marty Andsixsons? Colonel Marty! Congratulations, and theirsixsons. NY,in Lansing, with Ami Stallone Helives airsurgeon. the nextstate and was to be recently appointed the New York AirNational Guard asanAirForce colonelinserves his administrative role. Healso inadditionto(internal medicine) in a clinicaltinue capacity to serve world’s fastest-growing adver 6.5past years to buildoneofthe and COO, we have worked for the respectively.and Google, CEO As we atYahoo after founded stints company that advertising services MightyHive, aSanFrancisco-based were at ofthefoundingteam part WG12Christopher Martin Pete “InJuly Kimwrites: of2012, Big Man Marty (this is not his (thisisnot Marty Big Man place for the class of WG05.place for the class acquisitiontook unexpected and exciting merger A very and I - - - - Martin Sorrell’sMartin venture latest fol to withS4Capital,agreed merge a truly amazinggift:MightyHive journey—from startup tojourney—from exit—the startup able future. Throughout the entire atMightyHiveroles forthe foresee plan to continueoninourexecutive and ofS4Capital theboard joined and mentor. ChrisandIhave Both ally afantastic be roots—to HBS have his found Sir Martin—despite lowing his fromdeparture WPP. We Andy MorrisAndy WG06 children ’s WG05 Kendall (Sung) Enmi &family WG02 Bailey Anne & family WG02 Shpilberg Sandra - - diaper, but she is adored by all. She had to relearn how to burp and five.seven, andbigsisEden, We bigbrother Summit, child whojoins into theworldforth alovely third by prego accident! Hencebringing ovulationregular cycle andget well-behaved,with your otherwise mightscrew so—you exponentially but ifdoneconcurrently will be stressful can be independently each same time— of your fundatthe first andaclosing homeremodel a huge from me. learn IfyouPlease doboth announcement to allclassmates. late May 2018 my public service (“Addie”)Addison SkyKendall, in ofourthird kiddie,sider thebirth Kendall(Sung) in:“Con writes nity!” Right back atcha, Pete! grateful commu to theWharton be muchmore,and so we willalways PinhoWG06Mark . For allofthis Rob WG06 Isaacs with both and Birnbaum of Davidthe generous assistance New York from 30Rock with offices Perez WG07 Wei , Selchau-Hansen Christian , deBalmann (Hischier) Courtney Ethan and Anjali Prater WG04, investors included fantastic. Seed communityhasbeenWharton Yizheng Yang WG15 ’s child, Yutong child, ’s WG15 Yang Yizheng (right) WG09 Zhang Jing On theacquisitionside, Enmi , Daniel Faga WG07 , andLuis andhave worked closely . We incubated our also Eric - - 07 06 insurance markets.” through theindividual health and consumerchoiceavailable take advantage savings of the cost to companies platform enables Our company.Kleiner Perkinsinsurtech CEOatHixme,recently named a Iwas Health, 4.5 years atOscar August 22.” usonWednesday,Morris joined Malia daughter to date. Sylvie Mathis Poonamdance included Sharma [email protected] Rodney Gibson ↑ CohortDRep [email protected] Balmann Courtney (Hischier)de ↑ WG05ClassCorrespondent for a fourth. go placeifEnmiandScott abetter be adorable and that the world would I canconfirmclaimsthatAddieis plugs.” Enmi’s As neighbor, Marin wing and plentiful ear big guest us ifever We inMarin. now have a visit Please baby along allmetrics. family andemergingatop decile inthe herlong-term spot securing atweek three, herself sleep-trained Linda Drabik WG07 ’s wedding ’s WG07 Drabik Linda Rodney “After writes: Gibson Wharton classmates inatten classmates Wharton onNovemberDekorte 10. SteveLinda Drabikmarried the arrival of our second and I are to thrilled announce Andy tells Morris us: “Lynne , Michelle Coscio Moudry Michelle Coscio - - , 09 it as“an enormous new chal the need during mythe need years at the US combat moneylaundering. Isaw and customers mation to serve infor use financial institutions to improvenology theways that network tech decentralized uses a financial identity company that Finidenis themission. ate about when youIt helps are passion that Ilenge have enjoying. been wharton.upenn.edu jonathan.adler.wg07@ Jon Adler ↑ CohortCRep or Pub.Byblos dren’s birthday rather than parties baby, in January. Leela, Suran, whowelcomed theirnew and her husband, Agarwal) (née Silva to AnjliDe Congratulations [email protected] Renos Savvides ↑ WG07ClassCorrespondent , Castellano Sandra Fontaine Moya, Jen Seo and catch upregularly withCA, County, inOrange family are based in the Bay Area. Linda andSteve are currently living Garcia, andAlexandra Kenin. , Michael Broom Kaye Holden, Meanwhile, months ago. Hedescribes company more than18 Kevin a started Carr and other WG07ers andother at chil Debby Wang, and his Chen and his Dean Haresh Kumar, Jody Williams spring/summer 2019 wharton magazine 91 Cristina Laurie Laurie - - - - -

11 the Penn & Wharton ClubofSin the Penn&Wharton byHilton Singapore, co-chaired at the inaugural Ivy Singapore Ball the organizing committee of the of part to be amazing experience helping out!” on a similar path or in interested with anyoneto (re)connecting City.years inMexico forward Ilook Treasury, includingtwo amazing Silicon Valley. innovation first of its center in Prezz has the announced opening to marketfaster.devices Printer to bringmore advanced medical nanotechnologies and proprietary printing technologiesmetal 3-D that combine provenprocesses technology proprietary its uses PrinterPrezzmaterials scientists, and engineers, doctors, medical team ofing amultidisciplinary upenn.edu jing.zhang.wg09@wharton. Jing Zhang ↑ CohortCRep shining through! spirit wasRed andBlueschool to livelyperformances, fight-song for charity. From table decorations in net dollars Singapore proceeds morefamily than 70,000 and raised 380alums,friends,andattracted ofSingapore. Theevent Association Alumni andtheColumbia gapore based inSiliconValley.based Leverag For me, Jing Zhang,itwas an ing andcompany nanotech CEO ofaninnovative print 3-D Shrinivas as Shetty serves - - - -

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 92 wharton magazine spring/summer 2019 15 14 18 to Tokyo andinvites anyone trav shiba inu, Maruko.their imaginary live happily inHongKong with p. photo 2018 (see 91).Theynow Yutong, into theworld inAugust Nicole, welcomed their baby girl, onyour child! Congratulations first in June baby 2019. boy a beautiful are expecting her husband,Colin, December. threewho turned last daughter after Caroline,second with Winifred International Tech to announcethatitisteaming is proud Quantridge Quantridge. company,recently asecond formed andPaul isgrowing, The business Consultants. Vibration Engineering ellyandjosh.com.” onourblog, municable diseases preventive care, andnon-com corruption, systems, health-care on developingobservations ofourinitialchronicled some andthree inAfrica.WeAsia have infive inecosystems countries and health-care on digital health research wife and I did health-care mymore traditional honeymoon, and in lieuof a ment experiences [email protected] Julia Hazen [email protected] Jackie Wong [email protected] Alana Rush [email protected] Bob Reish ↑ WG15ClassCorrespondents eling through the city to say hello! [email protected] Vivek Jain ↑ WG14ClassCorrespondent technologies. control manufacturing for modern fromthreats micro-contamination vider formonitoring andsolving pro asatotal solutions developed ifred’s has group been of companies device inChinaandTaiwan. Win 24/7monitoringand stand-alone Ltd. cloudnology to its distribute recently movedHernan Gerson Yizheng Yang andhiswife, (Kerr)Megan Gormley and girl into theirhome—their are welcomingBeth, ababy Tom Wood andwife, Sarah started asmallbusiness,started & Co., in2017Paul Blanton After working forMcKinsey Wharton health-care manage health-care Wharton summer,past inspired by my Josh Talbot “This writes: ------

01 91 of directors forNationalof directors HME, also did some work didsome inpharmaceuti also for much of the end of my career. I [email protected] Cynthia Orr ↑ WG91 WEMBAPhiladelphia director. will remain inPhilly asexecutive I and doing good. success startup abouttion thatshare ourpassion world-renowned tradeorganiza development organizations,anda well-known universities, economic withfour Florida to partner South ismoving to Exchange Ocean info. bignews for2019 isthat Our to our newsletter forsubscribe numeroustoo to mention—but forourstartups— stories success of commercial andinvestment Weand landlogistics. have lots shipping ocean and sustainable emissions, zero tainable coastlines, sus forhealthy oceans, solutions with fundingto startups seed vides Exchange, a501(c)(3)thatpro myished sixthyear atOcean sions policy. maintaining astrong no-conces recovery while inhostage assist toengaging withforeign partners Americans,and ofthose ilies withfam abroad, working closely ofAmericansheldhostage issues senior-level attention toporting This affairs. involveshostage sup envoy presidential special for principal deputy as its White House for that population.” exploring long-term care options to me inmental join disabilities with severe autismanddevelop friends whohave family members plume. Currently, new I am seeking as an online writer, under a nom de sionally companies fortechnical professionally, butIwork occa Iamnowcareer ended. retired cal marketing after my investment Executives for MBA Milly Pitts theTrump Hugh joined Dugan research, working from research, home inequity analyst a supervisory Rich Krajewski “I was writes: and a member oftheboardand amember liams, who was CEO named to Ena WilCongratulations tells us: “I just fin tells us:“Ijust ------parent company, Petro Marathon employer, Andeavor, by Speedway’s following theacquisitionofMatt’s commercial officer at Speedway like a blink of an eye.what seems in andcollege into highschool deep thatalloftheirkidsare amazed still and Andy but Mark arefamilies, are doinggreat, asare theirBoth dinner and drinks after Christmas. and thathe reports in hislife. also Mark thenextchapter happily pursuing few years, andheisactively and timehis for professional the next half This newrole about willoccupy chairman of WSFS. of the board executive aside to become stepped andpresident CEO he has of WSFS, terrificincluding a dozen as years 20 wonderful years intheC-suite, international division. of theleader company’s billion $25 7-Eleven, recently as SVP most and Ena previously 10 years spent with nationwide.than 60 branch offices withmore TX, inIrving, based company equipment a medical [email protected] Gowri Grewal ↑ WG01 WEMBAPhiladelphia dent of the Penn Club of DC. aspresi area. Todd serves DC also chief revenue officer, in the based company,force-development as Catalyte, asoftware andwork area in early January. to theDayton,from Arizona OH, and three, themove completed 10,and their three ages boys, eight, strategy/innovation. Candice, Matt, development,ment, business and for fuelpricing/margin, procure Matt’s responsibility role includes convenience chaininthecountry. leum. Speedway is the third largest Steve Dollase & Shari Wakiyama WEMBA04 Wakiyama &Shari Dollase Steve Matt YoderMatt was chief named thatafter reports Turner Mark Todd Horst recently joined Andy caught Gordon up over - - - - 02 04 committee. ontheinvestment where sheserves Foundation, at the Barra director remains a her on LinkedIn. She works, orfind address Wharton forher,destination herlifetime in Italy inthefall.Ifyou have a summer at the shore and amonth for a few months, followedAsia by andSoutheastthen to Oceania of theworld. to Sheisofffirst Napa, years more and now to is going see atthe endof2018aftermede 25 three consumer-sector-investment three consumer-sector-investment is inprivate in asapartner equity ofclimate change.impact Steve theextremeand witnessing and whales seals, penguins, seeing graphic/Lindblad Expeditions, withNationalAntarctica Geo Wakiyama ourholiday, spent in smile and friendship.petual [email protected] Rahul Sondhi [email protected] Mary Gross ↑ WG02 WEMBA and we will always cherish his per family. greatly He will be missed, to his andcondolences thoughts awaywho passed inAugust. Our time, completing the 10K. for the firstHonolulu Marathon inthe sheparticipated December inPiscataway,and isbased NJ. In operations ofbusiness director year IEEElast asseniorjoined and is now CFO of Wageworks. has officially moved to the Bay Area Meanwhile, Steve andI, Shari Dollase The peripatetic Izzy DawoodThe peripatetic that sheretired from Glen Williamson writesLaura News from WEMBA26! mate remembrance ofourclass aspecial shares WEMBA 28 Damon Clemow, Jacqui Sturdivant - - - -

06 Zion, GrandTeton, andYellowstone and hiked Arun, eight, they camped Vishal, 15,boys, Arnav, and 11, Alongwiththeir threebucket list. afewitemsand checking offtheir yearlast by taking the summer off their20thanniversarycelebrated tech community. Vivek andShalini to play anactive role intheAustin theirin August CTO and continues RetailMeNot as Hejoined business. into a $10 billion Business Amazon wharton.upenn.edu wharton.upenn.edu shari.wakiyama.wg04@ Shari Wakiyama ↑ WG04 WEMBAPhiladelphia always welcome. and Wyoming. WEMBAvisitorsare lifeintheCarolinasand enjoying Thefamily ishealthy,Board. happy, Executive on the Wharton Alumni completed his13thyear ofservice program this summer. David has theWEMBA Kyle isstarting Mounts wasmember to Wharton; accepted wife, Lisa. Richard lives inNew York withhis thisfall. released to be is expected novel, Panicleshis second , which & Noble. Heiscurrently working on andBarnes able onlineatAmazon , inNovember.Lagniappe Itisavail novel,his first Love, and Loss, at Fandango. leader analytics andfunds, andIamatechnology WEMBA10 Class Reunion Reunion Class WEMBA10 David’s Mounts third family Richard Robbins published cessful stint helping stint to build cessful after five years andasuc Vivek Sagi leftAmazon - - 07 to try myto try hand at writing a novel. (I Idecided in2011, in New Zealand when I wassulting living projects con downtime between “During Nest. Tiger’s a visitto Bhutanandthehiketo high in 2018 for Jag and family was helpful in his journey.so A personal whohave WEMBA classmates been says grateful to allthe heisvery WEMBA by andled fellowform founded Vetted, a digital due diligence plat is an investor at advisor and board fintechcompany. Hepose-led also entrepreneurial venture, a pur ing theworld asheplanshisnext upenn.edu brian.egras.wg06@wharton. Brian Egras ↑ WG06 WEMBAPhiladelphia November. in gametogether Antonio Spurs touch and were able to catch a San classmate Five inthewild.Vivek andfellow the Big Five both and the Uglysee to Kenya, to where they managed trip safari with aonce-in-a-lifetime itoff andPrague, andcapped Berlin three weeks infor amonth,spent now taking a sabbatical and travel under management. He is in assets funds firm to more than $10 billion he grew theexchange-traded- firmMirae.AsCEO,management Muffie Humphrey writes: Global X, to KoreanGlobal X, asset 10years ago,he co-founded the firm Bruno del Ama sold Jag Jagmeet. Lamba Thomas Fredell stay in - - - - 10 Hariharan Della Mea Della attended—Chanda Dani, turnout. Thanksto everyone who 9,December andwe hadagreat [email protected] [email protected] Jessica Hatch wharton.upenn.edu saras.agarwal.wg07@ Saras Agarwal ↑ WG07 WEMBAPhiladelphia for retirement.” ineverinterested saving upenough ommend to anyone halfway or sane of years, butit’s apathI’d not rec you know.) It’s a fun couple been say: You by writingwhat dobest it’s (I guess Excel. true what they onMicrosoft abook title hasbeen far, butso soon, my successful most family. out two willbe number Cozy rado, andmy my friendsand dog, mywhich indulged love of Colo ), Delights ManandDoggie Dead my favorite isthecozymystery (A did surprisingly well inaudio. But called formen online dating advice book onetoentertaining write was an variety The most names. of pen undera titles slew ofnonfiction novels, acozymystery, anda a YA fantasytrilogy, two romance to more, andI’ve sincepublished attempt atanovelThat first led I’dbecause upmy knee.) messed couldn’t skydive orhikeatthetime class reunionclass was heldon ful holiday annual break! Our everyoneHope hadawonder Don’t , which aDouchebag Be , , Weiying Ding Taeho Oh, spring/summer 2019 wharton magazine 93 Rangesh , Fabrice Anand Anand - - - com/lists/2018-industry-innova ai-cio. refer to thisarticle: Please a more than $1 billion endowment. managing CIO atHamilton College, management. Anne is currently Investment Officer an innovation award from Chief own Suki Toguchi, andBrandonWang. palan, Raghavan, Trevor Redmond Will,onThurs Edwardyou oftheirson, thebirth Will are to thrilled share Tyler with tion-awards/?pid=37494. markets using systematic invest usingsystematic markets fund investing inIndianequity hisown hedgeRakheja started in September. Russia and the Baltics recent tripabroad. was The most to SF once a year while they vacation her in-laws are willingto cometo to help, that fortunate theyare so without any nearby grandparents expanding theirimmediate family marketing.Whileit’sproduct tough in Francisco andworks atGoogle Charlotte lives still chirps. in San andchorus ofbird-like squeaks of hairandaready with a full head He came ounces. 11 seven pounds, 20.5 long and weighed inches in at mildly indifferent Hewas cats. andtwo Arthur by anenthusiastic Brother,” welcomed home hasbeen Edward, formerly known as“Baby day, January 24 at 5:45 p.m. PT. [email protected] [email protected] Suki Toguchi ↑ WG10WEMBASanFrancisco India. Delhi, WealthNet in andisbased Advisors Thefundiscalled matters proceed. to add newues investment as ideas the fund isgrowing and contin days, early Itisstill ments. but newborn son ’s WEMBA10 Will (Evans) Charlotte Congratulations to ourveryCongratulations Charlotte (Evans) Will and Earlier this year, forwinningAnne Dinneen Jawahar Sivasankaran, Srikanth Rajago forendowment Puneet - - - - -

Interested in being your Class Correspondent? Contact: [email protected] [email protected] +1 215-746-6509 FMC Tower, Suite 500, 2929 Walnut St, Philadelphia, PA 19104 94 (née Katz) GED82,(née of Ardmore, PA; on August 23, thehusbandofEva James J. away Orlow W56passed the U.S. for their educations. her familyjoined when they came to Petrovic cousins. Jelena andDjordje and great-nephews, and nieces (Peter Ned), as well as many grand- David WG71) and Lucinda W. Stoll Suzanna W.two nieces, (C. Cook sister-in-law, AnitaS.Wanner; and (Brenda); herRichard Kasperson (Ruth) andErnest Kasperson Arthur is survived by hertwo David sons, WannerRichard Lewis (Anita). She Wanner Phillip Arthur ers, and andtwo broth Willett Kasperson, by herhusband,Richardin death Shewas preceded Glen Ellyn, IL. Wanner 17, onOctober 1928, in and Lucinda ObermeyerLewis friends. Shewas to Arthur born July 2surrounded by family and WG53 Lucinda Wanner Kasperson honors. ty’s highest Achievement, oneoftheUniversi sylvania forDistinguished Medal him withtheUniversity ofPenn AmyPresident Gutmannpresented 2011, are Penn graduates. In October Ronald O. Perelman W64 WG66 , andUniversitying son Trustee children and grandchildren, includ alumnus, and many ofhisSchool family. Raymond was a Wharton The Perelmans are atruePenn education. andmedical research, greater globalforce inpatientcare, anevenment, Pennhasbecome andabidingengage generosity Through hispeerless partners. ted significant and commit most its G. Perelman W40HON14, oneof ofRaymondmourns thedeath The University ofPennsylvania Obituaries Raymond Perelman W40 HON14 W40 Perelman Raymond wharton magazine spring/summer 2019 passed away passed on peacefully ------well as an active of YPO. member National Corp. as fortwo decades, stockbroker and later CEO of Shire intheArmy.as amedic Hewas a graduatea Wharton and served friends.Hewasfamily andclose by athomesurrounded peacefully IvanCharles Shanok W62, 78, died held until he retired in 1997. to chairmanandCEO, he positions in 1983, and was promoted in 1987 officer in 1961,wasnamed president as a lending Trust Bankers he joined receiving hisMBA from Wharton, After andWharton. sity ofGeorgia He graduated from the UniverGA. Sanford andgrew upinSavannah, andAnnLawrence ofCharles son HewasFlorida inGainesville. the attheUniversityOak Hammock of WG60 Steadman SanfordCharles Jr. in 1953.School graduated from Easton Area High He Schultz. Schmid and Josephine a former mayorSchultz, of Easton, 15, 1936, J. of the late the son Henry was inEaston, PA, onOctober born hard-fought battle with cancer. He by his family after engaging in a 21surrounded home onSeptember awayreth, PA, passed at peacefully John W58, of Naza H.Schultz folio manager. years port thatheworked asabond well him so overthere the served thebelieved education he received to have and Wharton attended 16,December 2017. Neil was proud away W56passed Neil Zaentz on Stephen, Zachary, and Rachel. Lucas,dra, Hannah,Maximilian, CW59; and grandchildren Alexan Jackson Clarke; sister Gretchen L. MaurerAdrian MaurerandSenta stepchildren Schaefer; ter Deborah Jeffrey, Andrew, daugh Scott; and Schaefer, his wife of 24 years; sons fer, Carol he byis survived Leslie Adolph O. Rae Schae andJessie ofthelate Son onAugust died 31. W54 Adolph “Al” Schaefer Oscar vived by 14 grandchildren. PAR91Cogan PAR92; sur andalso C57; brother-in-law to Rachel Katz brother of the late David Orlow (Cantor AdinaFrydman) Orlow; andRabbi AviPaasche-Orlow, Katz G92, Dr. MichaelKatz(Rabbi Sara) Orlow Switzer) Daniel Katz(Susan Hendel,father to Arielle(Doron) , ofWashington PA, Crossing, died on September 4at onSeptember died ------degree in economics at the Univer in economics degree in 1972. hisbachelor’s Heearned Culp HighPoint,NC-based founded Hill,NC.Heandhisfather in Chapel awayInc., passed atUNCHospital makerCulpchairman offabrics CulpIIIWG70 George Robert , W09, Hunter, and Roxanne. five Vicki,John children: Robert, Heleaves Lou. with hiswife, Mary Lake homeonCampbell Anchorage received. Gillamlived inhis mostly “outpouring they ofcondolences” thefamily the appreciated said McKinley,officer of and president son related to astroke. Hewas 72.His from complications 12 September on died Management, ley Capital after foundingMcKin residents oneofAlaska’sbecame richest B.GillamW68,whoRobert Elana and Sarina; and nephew Ari. Remygrandsons andSimon;nieces WG04 children Noah Zaiman); Ann (Joel pital. Heissurvived by hissister, Bardavon andVassar theater hos ofthe ontheboards and served He later NY, moved to Esopus, roles at Atlantic-Pacificroles Capital, previously executive heldsenior Blackstone and PJT He Partners. a wholly ownedbecame division of Park HillGroup, whicheventually andCEOof Daniel was co-founder canceronFebruary 23.gle against awaypassed after a long strug Daniel J. Prendergast W82 would the University. become that ofthecharity school location of the Fourth Street site that was the was involved incompilingahistory secretary. intheofficeof tary He he was hired secre as the assistant medieval in1969. studies Thatyear, hisPhDin in 1962 andsubsequently Penn. Hereceived hisMAinhistory moved to Philadelphiato attend University ofCincinnatiin1961 his undergraduate from degree the OH,andafter receivingNorwood, 15.ruary Hewas 78. Hegrew upin failure inWest Chester, OH,onFeb secretary, ofcongestive heart died atPennintheofficeof positions GR69 WG78, who held multiple Richard Mylius Sherman G62 High Point University. and was treasurer of andatrustee Point’s board downtown advisory onHigh Heserved from Wharton. sity of North Carolina and his MBA Robert W94, chief investmentRobert and Arielle (Martin Lan); and Arielle (Martin ------

would himto lead foundtwo suc Theyand financial management. to international development twincommitmentscareer-long and Paul(Jackie). developed Mark and hischildren, Yvonne (David) from hiswife, Ana-Maria, support was envelopedhe also by love and andgrace.courage Throughout, he showedillness, remarkable ofhis allstages blastoma. During MD, after avaliant battlewithglio on Januarydied 14 in Chevy Chase, JosephMark Heffernan WG91 as team captain. serving playedhe also eventually football, in Austin. his time at Penn, During at the UniversityBusiness of Texas of School MBA from the McCombs accounting from andhis Wharton in Lynch.Merrill aBS He earned Lufkin& Jenrette,Donaldson and Brewing Co. in 2015. Fairof his dreams, opening Winds world, hewent onto one pursue lifeinthecorporatea successful asalieutenant. Afterassignments afterHe attended Wharton several president. asclass where heserved Guard Academy,uate oftheCoast Madison’s talent. He was a 1991 grad about for Liam or bragging cheering father whocouldalways found be He was anactive andloving Beck. andKitty(Jeff) Bell (Matt) Marian andLiam,sistersMadison 10. by Heissurvived hischildren, WG96, 50, away passed on January William “Casey” J. Jones Jr. Princeton University and Wharton. attending before School Preparatory a child. She graduated from Tampa andmoved toBaltimore Tampa as She was in born sorely missed. be osity, will intellect andpenetrating ofhumor,unfailing sense lively curi Her devotion to family and friends, family; andmany friends. dear herextendedShirley Borkowf; byShe issurvived hermother, Dr. afteruntimely abriefillness. passing that her her family announces on August 26. sadness Itiswithgreat WG94 Elaine Levin Margot died degree. his Wharton earned for USAID, ofwhichhe inthecourse extensiveincluded consulting work volunteer.Corps His early career in 1975, Peace aUS hebecame of Foreignversity’s Service School Uni graduating from Georgetown organizations.After health-related asanexecutive to serve intwo major international ventures and cessful - - - - -

execed.wharton.upenn.edu into your version: best transform career. your throughout organization—and your within change immediate to effect empowered emerge will you And capacity. leadership your increase and acumen business your You sharpen will forward. you propel will that network apowerful of part become will you Education, the Through make. you connections the upon built Your is success Define your Wharton moment. “ at moment Irealized Iwas at Wharton Executive Executive Wharton at Programs Executive Comprehensive connection now part of anetwork that would truly empower me.” empower would truly noun \ kə∙`nek·shən\ \ noun / connect Alumni status granted upon program completion six finance programs intwo years Alumni status granted uponprogram completion a fl exible six-program learning journey General Management Program sep. 15–27, 2019 Executive Development Program Alumni status granted uponprogram completion may 26–jun.28,2019 Advanced Management Program comprehensive executive programs: NEW spring/summer 2019 wharton magazine 95

Advanced Finance Program • nov. 10–22,2019 • sep. 29–nov. 1,2019

Interested in being your Class Correspondent? Contact: [email protected] people / life lessons

My parents had a very strong influence on me as I was growing up. I had three aunts who were not married, and I learned a lot from my parents about caring, especially taking care of the elderly, giving back, being honest, working hard, and winning. My father used to say: “A giraffe never took a step forward unless she stuck her neck out.” I was raised to believe, “You can do anything you want.” But I discovered that I really could not do everything I wanted. Most of the guys in my class went off to Wall Street—that wasn’t my direction, because I was discouraged from pursuing a career in corporate finance. My aspirations were very tem- You Plan. pered by the environment, and I tried to mold my life on whatever doors opened for me. The biggest decision I made was to start my own business. I had been in the banking and oil indus- We Innovate. tries, and I felt I wasn’t getting anywhere. One night, I was complaining to my father, and he said, “Why don’t you think about starting your own Together We business?” It was probably the most frightening step I have taken. But it was also the only logical step. The industry was contracting, and within nine Change the World. months, my department at the oil company went from about 75 people down to five. So in retrospect, it was a good move. My guiding philosophy in dealing with people is teamwork. I think the only way you can teach teamwork is to show it. You must involve people. And you have to be honest and credible. Creative thinking and innovative solutions – at Wharton this is how we push the The only experience I’ve had that I consider dev- boundaries of education and move our world forward. Now more than ever, you can astating was when I found out that I couldn’t have children. I don’t know if I’ve made my peace with it. realize the power of planning with a gift that supports Wharton through your estate. I worry sometimes about what will happen to me if Simply name The Wharton School as a beneﬁciary of your will or living trust. something happens to my husband. But I have the facility of pushing bad stuff away. My husband has Charitable bequests can be a great way to give because they Include Wharton Anne Sceia Klein the same philosophy: Don’t anticipate everything are easy to establish, cost nothing today, and are 100% free in Bequest or Trust that’s going to occur, because some things never happen. Deal with it when you must. of federal estate taxes. When I was young, I was always striving for per- W64 fection. I had to win. I had to be number one. I had Your gift will support the next generation of ﬁnancial to do a great job. As I’ve gotten older, I have realized leaders and advance entrepreneurial innovation in the WILL that you have to accept that you can’t always be per- OR fect, but you can strive for being excellent. You have classroom and beyond. Donor TRUST Anne Sceia Klein founded her own PR firm, Anne to love what you’re doing. You have to know who you Klein and Associates, in 1982; it was later renamed are. You have to figure out what gives you joy and AKCG. Klein owned the firm until 2017 and continues what you love to do. And you can’t be very strict. Create your Wharton legacy today! as an advisor. Last year, she co-authored a book, On the I learned to love country music because my husband loves country music. He learned to ski because Cusp: The Women of Penn ’64, that tells the stories of 19 I told him I’d never marry anybody who didn’t ski. University of Pennsylvania alumnae who influenced So you have to be flexible. women’s roles in business, the professions, academia, What matters most to me in life is family, my hus- and society at large. In a conversation with Wharton band, and my friends. I want to spend time with For more information contact: Magazine and Knowledge@Wharton, Klein, 77, talks them. I want to spend time on all the things I had to let go over all these years. I know people who’ve about forging her own path, the perils of perfection, and stopped doing things and everything deteriorates. I 2929 Walnut Street, Suite 300 Philadelphia, PA 19104-5099 the friendly ultimatum she gave her husband before don’t want to do that. As long as I can, I’m going to 215.898.6171 [email protected] they married. —Mukul Pandya keep doing something. • giving.wharton.upenn.edu/estate-and-gift-planning 96 wharton magazine spring/summer 2019 Photograph by Dave Moser spring/summer 2019 wharton magazine 97 The Wharton School The Wharton School UniversityUniversity of Pennsylvania of Pennsylvania FMCFMC Tower, Tower, Suite Suite 500 500 29292929 Walnut Walnut Street Street Philadelphia,Philadelphia, PA 19104 PA 19104

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