The Berkeley Advantage Foods, and Shazam [email protected]

The Berkeley Advantage Foods, and Shazam Alumni@Haas.Berkeley.Edu

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

BerkeleyHaasSummer 2017 2 HIRING TRENDS 8 AN INTELLECTUAL REVOLUTION 18 IN PROFILE Silicon Valley’s top firms turn to UC Berkeley Haas marks 30 years of trailblazing the Alumni from Shazam, IDbyDNA, Honda for talent more than to any other school discipline of behavioral economics Innovations, Nevada Supreme Court & more

Haas Homecoming Cal Parents & Reunion Weekend

Saturday, Oct. 21 Haas School of Business

These’s something for everyone before the Cal Bears take on the Arizona Wildcats:

Mexican fiesta tailgate party Students or Athletes: Can You Be Both? with Lecturer Steve Etter, BS 83, The Berkeley MBA 89 Winners & Losers 2017 talk by Scott Advantage Galloway, MBA 92, founder & chairman, Berkeley Leaders challenge L2; NYU clinical prof. of marketing convention, offering new thinking Face painting for the new economy

haas.berkeley.edu/alumni/homecoming Question the Status Quo Confidence Without Attitude Summer 2017 EXECUTIVE EDITOR FEATURES AND DEPARTMENTS The Berkeley Leader Issue Students Always Ute Frey

UP FRONT MANAGING EDITOR Beyond Yourself Amy Marcott

DESIGN Cuttriss & Hambleton, Berkeley-Haas alumni enjoy 30% off Berkeley their first program, then 15% off STAFF WRITERS Laura Counts, Valerie Gilbert, every program thereafter. Kim Girard, Pamela Tom

Contact us for more details: [email protected] Q@Haas co-founders Ben CONTRIBUTING WRITERS Burbridge and Adrienne Torf, Eric Butterman, Charles Cooper, both MBA 92, flank co-president Krysten Crawford, Andrew Lucas Vital, MBA 18 Faught, Diane Fraser, Kate Madden Yee, Mike Rosen, 2 Haas List Upcoming Programs Sam Zuckerman Celebrating 25 years of LGBTQ community PHOTOGRAPHY 4 Haas News Noah Berger, Jim Block, Haas MBA students work Tiffany Brown Anderson, to unite youth cyclists Aaron Clamage, Bruce Cook, Charles Cherney, Keegan R 6 Power of Ideas Houser, Joe Larese, Leigh An applicant’s country of origin Madeira, Genevieve Shiffrar can cause hiring bias

ILLUSTRATOR IN THE BACK John Hersey

BerkeleyHaas magazine is published by the Haas School

PHOTO: GENEVIEVE SHIFFRAR PHOTO: of Business, University of Nobel Laureates and top economists enjoyed a gelato break at the conference celebrating California, Berkeley. For Berkeley-Haas’ influence on behavioral economics. Shown: Nobelist Daniel Kahneman with further information, contact: Haas Professor Ulrike Malmendier. Page 8 BerkeleyHaas Magazine Editor Haas School of Business University of California, Berkeley Nevada Supreme Court Justice 2001 Addison St., Ste. 240 Lidia Stiglich, BS 92 Berkeley, CA 94704 8 An Intellectual Revolution [email protected] Berkeley-Haas marks the 30-year milestone of trailblazing the discipline 18 Haas Network Venture Capital Executive Program The Berkeley Executive of behavioral economics. Alumni from the Nevada BerkeleyHaas Summer 2017, Number 95. September 11–15, 2017 Leadership Program Supreme Court, MIT, IDbyDNA, Honda Innovations, Byte For change of address, email November 6–10, 2017 Gain exclusive insights to unlock value from venture capital, generate 12 The Berkeley Advantage Foods, and Shazam [email protected]. deal structuring, and develop a road map for success. During this Become the leader you’re meant to be with our five-day leadership 24 Worldwide Events five-day program, Professor Jerry Engel will guide a comprehensive Berkeley Leaders challenge convention, offering new thinking for the program. Professor Maura O’Neill, along with other distinguished Annual HaasX talks inspire overview of the venture capital investing cycle and provide insights new economy. UC Berkeley faculty, will help you create a personalized plan to and delight on the latest practices and trends in the venture capital world. obtain innovation and growth, create energy and urgency, and 26 Accolades Ideal for: Entrepreneurs considering venture funding, executives drive results. 22 Rethinking Education 26 leading corporate M&A and business development, institutional Ideal for: Senior executives who want to expand their leadership Alumni Notes Online education pioneer John “Jack” Larson, BS 73, supports budding asset managers, and international economic development officials. capabilities to drive growth, performance & culture. 35 In Memoriam business leaders and data scientists. 36 Personal View Dean Rich Lyons, BS 82, on making every employee a Interested in a custom program for your company? Together with our Chief Purpose Officer esteemed faculty, we’ll work with you to create programs that fit your organization’s distinct needs.

executive.berkeley.edu | CONTACT: +1.510.642.9167 Summer 2017 1 Up Front Haas List

Alumni Diversity Reputation Built 25 Years of 5 Education pioneer Patrick Awuah, MBA 99, has been named Q-mmunity among the world’s 100 2New Building Faculty most reputable people Twenty-five years ago, Ben Burbridge, What's New The Personality by Reputation Poll, a MBA 92, had a hard time finding a Research with Chou? of Success South African global community of gay students at Haas. performance-manage- Floors one through five Do you have what it takes ment consulting com- Then he met Adrienne Torf and Garrett The Wisdom of the new Connie & to start an entrepreneurial pany. Awuah, founder of Hornsby, MBA 92s. “I realized how Kevin Chou Hall, which empire? In Wall Street Ghana’s Ashesi University, alone we were when we arrived here, house classrooms, are Journal bestseller Built for of After-Hours joins fellow Ghanaian slated to open by late Growth (Harvard Business and we didn’t want the subsequent and former UN Secretary July. Select summer Review Press), Lecturer classes to have the same experience General Kofi Annan, Trading courses will begin John Danner identifies Bill and Melinda Gates, that we did,” Burbridge says. So the Paying attention to overnight stock market returns enjoying the new space four distinct “builder the Obamas, Sena- trio formed a small club. may help investors develop profitable trading strate- this summer. The personalities” of highly tor Elizabeth Warren, Today, Q@Haas is a dynamic commu- gies, says a new study co-authored by Haas Asst. Prof. sixth-floor events space, successful founders— Desmond Tutu, Nobelist Omri Even Tov. He found that overnight market activity Spieker Forum, will open Driver (Apple’s Steve Jobs), nity of 380 lesbian, gay, bisexual, trans- Malala Yousafzai, and provides a gold mine of information about investor in the fall. View the Explorer (Facebook’s Mark singer Adele on the list. gender, and queer students, as well as sentiment at the firm level, pertaining to specific building’s progress two Zuckerberg), Crusader straight allies. It hosts personal storytelling stocks rather than the broader market. ways: via the live (Twitter’s Jack Dorsey), or nights, speakers, panels, and film nights. Even Tov measured how much returns moved after webcam, haas.org/ Captain (Alibaba’s Jack the market closed and found that in the short term, NorthAcademicBuilding, Ma). Via research and Q@Haas Co-president Lucas Vital, up to 12 weeks, prices continued to trend in the same or the Instagram personal interviews, the MBA 18, who helped organize a celebra- direction—what financiers called price “persistence.” account, whats_new_ book, co-authored with tion of the group’s milestone, said of the The effect was even stronger for firms that are typically with_chou. Also visit Princeton University’s more difficult to value. Hiring Trends the Berkeley-Haas Chris Kuenne, guides founders’ experiences: The findings, forthcoming in the Journal of Financial website for the timeline readers to unlock their “Hearing their story and Quantitative Analysis, likely reflect investor senti- and floor plans: own builder personality. and understanding ment because private investors are more likely to trade haas.org/chou-hall. haas.org/danner-book after hours. They also rely more on sentiment and less Pipeline for Patrick Awuah, MBA 99 how far we have come on underlying fundamentals (a firm’s intrinsic, not is a way to understand market, value) when making their trading decisions. Rankings and value what we Even Tov also studied how stocks performed overnight Tech Talent have today.” over 12 months. High overnight returns underperformed High while those with low overnight returns outperformed. When Silicon Valley’s top firms need tech Marks Q@Haas co-founders Ben Burbridge Buying and selling stocks based on overnight returns and Adrienne Torf, both MBA 92, flank yielded a premium of 7.4 percentage points. talent, they turn to UC Berkeley more than to All Around co-president Lucas Vital, MBA 18. All three Berkeley MBA any other school. A report by online recruiting company Hir- Faculty ingSolved shows that Berkeley alumni—overall and in 2017— programs earned top- 3 10 status in the U.S. Innovation get hired more than grads of any other school at the top 25 tech News & World Report’s companies by revenue. In both cases, Berkeley beat out 2018 Best Business Pioneer Alumni Benefits Schools ranking. The Honored Stanford (#2) and Carnegie Mellon (#3). Neither MIT nor any On-Demand Insights Evening & Weekend Ivy League schools made the top ten. The study aggregated Berkeley MBA Program Henry Chesbrough, PhD 97, faculty One of the benefits of being a Berkeley-Haas alum is held its #1 ranking director of the Garwood Center for data from over 10,000 public profiles for tech workers hired or access to lifelong learning opportunities, like the among part-time MBA Corporate Innovation, was honored promoted to new positions in 2016 and the first two months Facebook Live streams we’ve been hosting of every- programs for the fifth with a medal from the Industrial Re- Henry Chesbrough thing from the Dean’s Speaker Series to the annual straight year. The Full- search Institute (IRI) for his standout work in innova- of 2017. For new grads, business development consultant, Alumni Conference. The videos are archived on time Berkeley MBA tion management. Chesbrough is widely recognized business analyst, brand ambassador, and financial analyst Berkeley-Haas Insights at insights.haasalumni.org. Program was again as the father of open innovation, a concept advocating Spring’s Alumni Conference (click on the Alumni ranked #7 among that companies tear down the walls between their made the top 10 of the most likely job placements. For alumni Events link) offered a wealth of fascinating presenta- full-time programs, R&D organizations and outside companies and in- overall, the top 10 job placements included project and tions, including Prof. Ross Levine on “Trumponomics and the Berkeley MBA novators. The IRI, which represents 200 industrial and product manager, account manager, business development and the Global Economy,” Asst. Prof. Juliana Schroeder for Executives ranked service companies interested in effectively managing discussing “Integrative Negotiating Skills,” and an #9 among EMBA technological innovation, has awarded the medal since consultant, and business analyst. alumni panel offering “Venture Capital Perspectives.” programs. 1946 to top leaders in industrial research.

2 BerkeleyHaas Summer 2017 3 Up Front Up Front Haas News

BY THE NUMBERS DEAN’S LETTER Speaking of Reviving Berkeley Earlier this year, UC Health Care Berkeley alumni were surveyed about their experiences as students Insights and alumni, both Haas helps spearhead health management campuswide and as journal relaunch for nonacademic audience part of their individual schools. Here are some Scholars and experienced executives in management, of the results. policy, and innovation have insights that can help improve the health care sector, but their contributions often fail to reach the right audience of practicing leaders. A resurrected quarterly journal, Health 94% Management, Policy & Innovation (HMPI), reintroduced Haas alumni who are this spring after a four-year hiatus, aims to change that very satisfied or satisfied by covering real-world problems faced by decision with their student makers in the health sector. PHOTO: JIM BLOCK PHOTO: experience HMPI targets the people who run health policy and Dean Rich Lyons, BS 82, speaking at the 2017 Alumni Conference. MBA students from the Social Sector Solutions class gathered with their client on the last night of class. health care institutions, as well as teachers and students in business school health care management 75% tion on the country’s 12.5 million young riders, programs. Its topics range from fostering innovation and Haas alumni who believe creating a national database, and developing coordinating supply chains to the broad challenge of Dream of a Lifetime they received a lifelong Tour de Force common best practices to unite the disparate groups. making affordable, high-quality care widely available. professional network Berkeley-Haas MBA students work to unite The S3 course, co-taught by Adj. Prof. Nora Silver, The articles are accessible to both academic and It’s funny how dreams take hold of us. When I came to Berkeley as an undergrad youth cyclists faculty director of the Center for Social Sector nonacademic readers. 35 years ago, I had no intention of becoming an academic. I didn’t even know any Leadership, and Adj. Prof. Paul Jansen, a former Berkeley-Haas is among the consortium of leading academics to dream of becoming one. But the Haas faculty instilled in me a While cycling is the most popular outdoor recreational director at McKinsey & Co., is designed to solve business schools that relaunched the online journal. passion for economics so strong that I knew I had to pursue it. And they helped 94% activity in the U.S., only 24 percent of kids aged problems for nonprofit clients. Editors include Adj. Prof. Kristiana Raube, who also me envision a future that I had not seen before. Alumni who agree UC 6 to 17 participate, according to a 2016 Outdoor The Haas team, which included Peter Severson, serves as executive director of the Graduate Program in To be asked to join the Berkeley faculty after earning my PhD was my first Berkeley has exceptional Industry Association report. Across the country, Nahry Tak, Kyle Koning, and Federico Picca, all Health Management and the executive director of the dream come true. Serving this remarkable institution as your Dean has been the professors and academic scores of youth cycling organizations are working MBA 18s, and Amy Traver, MBA/MPH 18, concluded International Business Development Program at Haas. second—it has been more fulfilling than any job I could imagine. And like many programs separately on the same big goal: to get more kids that the YCA needed to align on a shared vision, Read it at hmpi.org. of you, that stems from the fact that Berkeley has transformed my life. safely riding bikes. How much more effective could establish a culture of trust, and form immediate In the summer of 2018, I have decided to transition out of the Dean role after they be if they had a way to pool resources and partnerships. They recommended six “quick wins” to 11 years (one year as acting dean and ten as dean). 81% work together? immediately get more involvement in youth cycling. We have accomplished a lot together in these 11 years, and in the coming That was the vision that the Youth Cycling Alliance For Severson, the project was socially and months, I look forward to thanking many of you personally. This is not the place Alumni who agree UC for me to review all that you’ve helped make possible, but this fall, for example, (YCA), a coalition of 11 youth cycling organizations, professionally worthwhile. “Through our successes Berkeley produces grads with insights and donations from alumni, we will enroll the inaugural class in a brought to Berkeley MBA students in the Social and failures, I forged skills that I will employ committed to making the undergraduate dual-degree program with our wonderful College of Engineering: world a better place Sector Solutions (S3) course this spring. It was a throughout my career in whichever direction it the Management, Entrepreneurship, & Technology (M.E.T.) program. This is daunting task that would involve compiling informa- takes me,” he says. the first example of a new vision we are calling “Science in Business” that will lead to more interdisciplinary, dual-degree programs at the graduate and undergraduate levels. #1 Feedback from Our Readers This and other exciting initiatives are putting Berkeley-Haas in a good place Word that came to mind for the next dean to carry our school forward. It’s exactly the right time for when thinking about UC this transition. Berkeley: excellence I am happy to read “our” magazine these days. I graduated 20 years ago with a BS in business As for my tenure, we’re not finished yet! We are going to get some remarkable administration and applied to Haas because I read Editor’s Note: Our things done over this next year together. I hope you’ll join me at our events and a book by an ambitious woman entrepreneur and sincere apologies to gatherings throughout the year. #2 was inspired. Also, I was working for a computer Benny Du, MBA 13, for My thanks to all of you for your friendship, support, and all the heart and soul Word that came to mind technology startup at the time, so I felt like learning an erroneous alumni that you have put into this remarkable place for so long. I know that we will all when thinking about about business would be useful. note posted under his be “all in” for Haas for years to come.

UC Berkeley: public I’ve studied a lot of different people, cultures, name in the Spring and businesses since then. I am proud of my degree 2017 issue. Go Bears, from Haas and proud to associate with the folks #3 mentioned in “our” magazine. Thank you!

Word that came to mind Tell us what you think about when thinking about Corbi L. Wright, BS 97 Rich Lyons, BS 82 Creative Executive at Colorbee Productions this issue. Send feedback to UC Berkeley: diverse [email protected]. Correction [email protected] | @richlyons

4 BerkeleyHaas Summer 2017 5 Up Front Up Front Power of Haas Ideas

HIRING DISCRIMINATION ASST. PROF. MING LEUNG Be More Patient? experiments that relied independent frame on “framing effects,” demonstrated less Imagine That making small changes imagination. Assoc. Prof. Ming Hsu to how options are Said one participant, Nationality Matters finds that imagination is a presented or framed. “I’d rather have the pathway toward patience For example, under an money tomorrow even to Employers “independent” frame, a if it’s a lesser amount. I participant could receive can get the things I need An applicant’s country of origin can cause $100 tomorrow or $120 instead of waiting. Why bias, says Asst. Prof. Ming Leung in 30 days. Under a wait a month for just “sequence” frame, a $20 more?” participant had to decide Using fMRI, Jenkins Where you come from could decide whether whether to receive and Hsu measured a prospective employer hires you—or not. $100 tomorrow and no participants’ brain A new study finds employers are 82 money in 30 days or no activation during the percent less likely to hire an applicant from a money tomorrow and experiments. particular country if they previously had a $120 in 30 days. Areas of the brain negative experience with an applicant for a The first experi- that process imagination similar job from that same country. ment replicated past became more active Berkeley-Haas Asst. Prof. Ming Leung research, which found when participants analyzed 3.9 million applications from that framing outcomes were more patient freelancers worldwide for more than Assoc. Prof. Ming Hsu as sequences pro- during sequence 290,000 jobs and found that employers react motes patience. The framing. However, in more strongly to negative hiring experiences Asst. Prof. Ming Leung Patience, as they say, is a 122 participants saw the independent than to positive ones. His findings are virtue. And new research both independent- and framing, the researchers forthcoming in Management Science. shows it’s only as far sequence-framed op- found patience more Leung found that when employers have any kind of negative away as our imagination. tions and expressed strongly linked to brain experience with workers from other countries, they are 15 percent By using functional stronger preferences for regions associated less likely to hire people from those countries again—for any type MRI (fMRI) to look the larger, delayed re- with willpower. of job. The unlikelihood climbs to 82 percent when a similar job inside the brain, ward when choices were “There is a long is involved. neuroscientists Adri- framed as sequences. tendency of behavioral Conversely, positive experiences with freelancers led employers anna Jenkins, a UC The second experi- interventions to appeal to be 25 percent more likely to hire from that country for similar Berkeley postdoctoral ment involved 203 to willpower. For jobs compared to 3 percent more likely to hire from the same researcher, and Ming participants who had to example, ‘commit to country for dissimilar jobs. Hsu, a Haas associate make a choice based on be fit’ or ‘don’t do drugs,’” In addition to the hiring results, Leung found that freelancers professor of marketing one frame: 104 people Hsu says. “Our findings from countries deemed less desirable are also paid less. In and neuroscience, found chose under an indepen- highlight the potential order to have the winning job bid, they must offer to do the work for that imagining an dent frame; the other benefits of interventions two-thirds less than their peers from other countries. outcome before acting 99 chose under a that change the nature Leung obtained data on transactions from Elance, an online upon an impulse may sequence frame. of the impulses them- market for hiring freelancers. Now known as UpWork, Elance was help increase patience The result: partici- selves by encouraging one of the first online platforms for freelance or so-called gig jobs, without relying on pants in the sequence people to imagine representing eight million registered employers and four million increased willpower. frame reported imagin- the consequences of registered freelancers from 223 countries. Their research is ing the consequences their choices.” Leung looked at data from 2000 to 2013, analyzing which forthcoming in Psycho- of their choices more And imagination may applicants applied and who was eventually hired. He also logical Science. than those in the just be a more practical accessed a feedback mechanism where employers indicated The researchers’ independent frame. and sustainable path to if a hiring experience was unambiguously positive or negative. approach stands in con- One participant wrote, patience than exerting This longitudinal approach revealed a trend of profiling based on trast to previous studies, “It would be nice to have willpower. —Pamela Tom nationality across a variety of diverse job categories, including logo which have mostly the $100 now, but $20 design, website programming, article writing, and legal advice. focused on the exertion more at the end of the “The comprehensive data allowed me to observe multiple of willpower to posi- month is probably worth employers hiring from different countries over time,” Leung says. tively affect a person’s it because this is like one “I was able to see how well an employee did and how employers patience. week’s gas money.” subsequently reacted to these experiences with workers from “Whereas willpower The more participants those countries.” might enable people to imagined the conse- Leung says understanding how employers stereotype job applicants override impulses, quences of their choices, from past hiring experiences is important. “I found one negative expe- imagining the conse- the more they were rience can dramatically alter an employer’s beliefs,” he says. “However, quences of their choices able to be patient in the study implies that nationality profiling in the hiring process poten- might change the order to receive the greater reward. tially hurts employers, too, because they may lose out on good talent. impulses,” Jenkins says. In contrast, partici- Employers need to learn to hire better from their past experiences.” Hsu and Jenkins conducted two pants exposed to the —Pamela Tom ILLUSTRATION: ISTOCK BY GETTY IMAGES 6 BerkeleyHaas Summer 2017 7 An Intellectual Revolution Berkeley-Haas marks the 30-year milestone of trailblazing the discipline of behavioral economics

By Sam Zuckerman

or the past 30 years, UC Berkeley that it wasn’t easy for this mode of thought to get has been home to an intellectual established. “The behavioral economics fish was just revolution that has transformed beginning to crawl out of the sea,” Akerlof quipped. the field of economics. Rather than “But the task was more difficult than we thought.” focus on the rational machines of standard economic theory, scholars A New Discipline Emerges at Berkeley-Haas and in the Depart- Like all scholarly revolutions, what happened at ment of Economics toppled the wall Berkeley then did not take place in a vacuum. A few separating economics and psychology. They came to economists at scattered institutions, including Aker- Fstudy humans as they really are, prone to biases and lof and his wife, now Federal Reserve Chair and Haas unconscious influences, prey to emotions, and vulner- Professor Emeritus Janet Yellen, had begun to ques- able to manipulation. tion utility theory—the field’s article of faith that peo- The result was a new field of study—behavioral eco- ple in their roles as workers, investors, entrepreneurs, nomics—combining the insights of psychology with and consumers generally make logical choices in their the powerful analytical methods of economics. And own best interests. An even smaller number, like Rich- economics was better for it, moving away from the ard Thaler, then at the University of Rochester, were ivory tower toward a more realistic view of why people starting to delve into psychological literature to better act the way they do. understand human behavior. In May, faculty, alumni, and leading economists from around the world met at Berkeley-Haas to pay tribute to the university’s role in advancing this intel- Berkeley-Haas became a lectual movement. “Thirty Years of Behavioral Eco- nomics at Berkeley” commemorated the anniversary center for behavioral finance, of a pioneering interdisciplinary PhD course taught in spring 1987 by two future Nobel Prize winners—econ- an area that was fertile omist George Akerlof and psychologist Daniel Kahne- man. The event, organized by Professors Ulrike Mal- ground for psychological mendier and Stefano DellaVigna, was part celebration, part reunion of former Berkeley faculty and PhDs who analysis in an era of asset are now spreading the methods of behavioral economics far and wide, and part declaration that this way of bubbles and market crises. understanding the world has come of age. The featured guests at the spring celebration were Kahneman, then at the University of British Co- the two men who taught that class 30 years ago: Ak- lumbia, had crossed the disciplinary divide to debunk erlof, now professor emeritus of economics at Berke- utility theory’s core tenets in a groundbreaking 1979 ley, and Kahneman, professor emeritus in psychology article, “Prospect Theory: An Analysis of Decision Un- at Princeton University. In their remarks, they noted der Risk,” co-authored with his frequent collaborator

8 BerkeleyHaas ILLUSTRATION: JOHN HERSEY Summer 2017 9 The New Generation of Behavioral Economists dence in decision making to learn what happens when The path-breaking work of Akerlof, Kahneman, and people think they’re smarter than they actually are. Rabin, and support from sympathetic senior economists Asst. Prof. Ned Augenblick is an expert in online mar- like Daniel McFadden, the 2000 Nobel Laureate in eco- kets who studies people’s preference for immediate nomics and director of Berkeley’s Econometrics Labora- rewards even if future payoffs might be greater. tory, and Hal Varian, Haas professor emeritus and a specialist in the economics of information technology, paved Infiltrating the Mainstream the way for others. The result was a flowering of behav- Today, rational models no longer rule the roost and top ioral economics at the university in the 2000s. economics departments around the world have hired Event organizers Malmendier and DellaVigna, an- behavioral scholars. Modes of analysis developed by other husband-and-wife team who arrived at Berkeley behavioral economists are now widely used in fields as during this time, themselves represent the vanguard diverse as politics, medicine, and law. A few years ago, of a new generation of behavioral economics research- the Financial Times lent additional validity when it de- ers. Together, they co-direct the Initiative for Behav- clared “behavioral economics has never been hotter.” ioral Economics & Finance, a joint project of Berkeley- For example, Harvard behavioral economist Send- Haas and the Department of Economics. hil Mullainathan served as the first research director While past studies looked at the behavior of indi- of the federal Consumer Financial Protection Bureau. vidual investors and consumers in and of themselves, The idea that consumers can be manipulated to make Malmendier, the Edward J. and Mollie Arnold Profes- financial decisions that run counter to their interests, sor of Finance at Berkeley-Haas, investigates how in- by taking on too much credit card debt, for example, is dividual biases affect corporate decisions, stock prices, fundamental to the agen- and markets in general. One study, for example, looked cy’s work. And President at overconfident CEOs who overestimate their ability Obama issued an executive to carry out successful mergers and acquisitions. Her order in 2015 that behav- work has earned her a Guggenheim Fellowship and the ioral science should be taken American Finance Association’s Fischer Black Prize, into account in setting gov- a biennial award modeled after the Fields Medal in ernmental policy, citing “re- mathematics and the Clark Medal in economics that search findings from fields honors the top finance scholar under age 40. such as behavioral eco- DellaVigna, who holds a joint appointment with nomics and psychology.” Haas and Economics, has developed new ways to ex- Berkeley’s leadership

PHOTO: GENEVIEVE SHIFFRAR GENEVIEVE SHIFFRAR PHOTO: amine media bias and political persuasion. His 2006 helped give psychological paper showed that Fox News swayed viewers to vote ideas legitimacy and propel Berkeley-Haas Professors Amos Tversky. “Coming from psychology, the notion Group was doing behavioral work in it,” says Odean. for George Bush over Al Gore in the 2000 presidential behavioral economics into Ulrike Malmendier and that people are rational was sort of funny,” Kahneman “But there was an atmosphere of intellectual curiosity election, for example. the mainstream. Behavioral Stefano DellaVigna flank says of his early forays into economics. His well-aimed and a willingness to give someone enough room to try economics took hold largely Nobel Laureates and one- barbs flamed the imaginations of those trying to in- something.” The Berkeley-Haas Influence by being correct, Odean says. time Berkeley professors ject psychological realism into the field. But, through- With the arrival of Matthew Rabin in 1989, behav- For its part, Berkeley-Haas became a center for the “Over time, people accepted Daniel Kahneman and study of behavioral finance, an area that was fertile that which was true, which is George Akerlof. out the 1980s, these insurgents were virtual outcasts ioral economics truly began to flourish at Berkeley. working at the margins of the profession, and the ra- Rabin, a game theory specialist with a restless mind, a ground for psychological analysis in an era of asset that human beings are not tional choice model continued to hold sway. self-deprecating sense of humor, and a doctorate from bubbles and market crises. Odean, whose dissertation hyperrational,” he says. It was at Berkeley, with its culture of intellectual MIT, followed an unconventional path that would have focused on individual investor behavior, persuaded For all its advancements, ferment and readiness to question academic ortho- consigned his tenure file to the trash bin at most insti- a discount brokerage to give him access to the de- Berkeley’s behavioral econ- GENEVIEVE SHIFFRAR PHOTO: doxy, that behavioral economics first gained a foot- tutions. He collaborated with psychology faculty to un- identified trading records of 10,000 individual inves- omists stress that the field is hold. Kahneman joined the Department of Psychology derstand fairness, explored the economic implications tors. The data confirmed investors’ wealth-destroying still in its adolescence. “There are plenty of areas where Haas Professor Terry in 1986 and found that some of the university’s econo- of addiction, and developed a theory of procrastination penchants for trading too actively as well as selling behavioral economics still has huge inroads to make,” Odean, MS 92, PhD 97 (right), gets gelato with mists were open to using psychological methods to to explain why people often don’t save enough for re- winning positions and holding on to losers. “People DellaVigna says. For example, behavioral insights are were behaving with their own money the way psy- just beginning to be applied in areas like macroeconom- John Williams, president analyze economic problems. Terrance Odean, BA 90 tirement. “He gambled his career in order to establish and CEO of the Federal (statistics), MS 92, PhD 97, the Rudd Family Founda- behavioral economics as a field,” Malmendier noted in chologists predicted rather than the way economists ics, exploring questions such as what psychology tells us assumed,” Odean explains. about attitudes toward inflation. Reserve Bank of San tion Chair in Haas’ Finance Group, recalls that Kahn- her introduction of Rabin at the Haas event. Francisco, during the eman steered him away from a career in psychology In his remarks Rabin, now a professor at Harvard, Assoc. Prof. David Sraer has investigated inves- As behavioral economics deepens our understand- daylong celebration of into what was then virgin territory. “When Danny sug- explained his goal was “improving the psychological tor behavior and speculative bubbles. Professor John ing of human motivation, the insights researchers Berkeley-Haas’ influence gested I go into finance, nobody in the Haas Finance realism of economics but maintaining conventional Morgan, the Oliver E. and Dolores W. Williamson learn become that much more valuable. In his remarks on behavioral economics. techniques like formal modeling and econometrics.” At Chair of the Economics of Organizations, founded at the Haas 30th anniversary event, Akerlof cited re- Berkeley, the brilliance and boldness of his ideas won Haas’ Experimental Social Science Laboratory (XLab) search showing that capuchin monkeys will eat sweet Modes of analysis developed by him recognition—a MacArthur Fellowship in 2000 for conducting experiment-based research. He has roll-up tacos with marshmallow fluff until they get and the John Bates Clark Medal in 2001, awarded to focused some of his work on inattention to shipping anxious and sick. He suggested the megacaloric Cin- behavioral economists are now an economist under age 40 who has made a significant costs in eBay auctions and on behavioral biases in voting. nabon is the equivalent temptation for humans. “Peo- contribution to economic thought. Rabin’s achieve- Other Haas scholars have applied psychological ple have two types of taste—what is good for them and widely used in fields as diverse ments were major milestones in behavioral economics’ principles in other business areas. Don Moore, who what they choose,” he said. “We all have monkeys on rise to respectability and cemented Berkeley’s reputa- holds the Lorraine Tyson Mitchell Chair in Leader- our shoulder when we make economic decisions, and as politics, medicine, and law. tion as the heart of innovation in the field. ship and Communication, has investigated overconfi- somebody is going to be there to sell you a Cinnabon.”

10 BerkeleyHaas Summer 2017 11 The Berkeley Advantage Berkeley Leaders challenge convention, offering new thinking for the new economy

For Wolfgang Stehr, EMBA 16, the stakes were as high as they could get. As the division chief of pediatric surgery at UCSF Benioff Chil- dren’s Hospital Oakland—one of six Level I pediatric trauma centers in California—Stehr operates on some 20 children each week. From one-pound preemies to 200-pound teenage gunshot victims, each “We can revolu- delicate surgery requires him to successfully choreograph his medi- tionize health care cal team in a complex operating-room ballet. through trust and But things were breaking down. Not with the level of care provided connection with each patients, but with the respect and concern members of the medical other,” says Wolfgang staff afforded one another. Egos reigned, tempers flared, and resent- Stehr, EMBA 16, ments—even from a miscommunication in logistics such as schedul- who improved coming—began to build. munication among So with the strong support of hospital President Dr. Bert Lubin, Stehr, co-workers at UCSF then enrolled in the Berkeley MBA for Executives Program, turned to Benioff Children’s his Haas leadership lessons—specifically a Leadership Communica- Hospital Oakland. tions course taught by Lecturer Mark Rittenberg—for help. “This can be as powerful as any What happened next so transformed Stehr and his team and new procedures, improved the hospital’s operating room environment that it’s being treatments, or adopted by other hospitals across the country. antibiotics.” Stehr’s story is just one example of how the unexpected and often quietly heroic solutions championed by leaders trained at Berkeley- Haas are changing the face of business, creating new movements with impacts far beyond just one company’s success. BERGER NOAH PHOTO:

12 BerkeleyHaas Summer 2017 13 Revolutionizing Health Care staff here did this, but those core people are changing introspection and concern for the broader impact of Then came the Small Business Jobs Act of 2010 and via Trust Building the culture of our little world overnight,” he says. “It a business idea or solution. “A Berkeley Leader,” he Jones’ starring role in a massive, first-of-its-kind ef- was the simplest things that made the biggest differ- says, “is someone with a combination of vision and fort to revitalize the country’s poorest communities. A core class for all MBA students, Leadership Com- ence: How you talk to each other in the hallway, how empathy.” Someone who can go beyond the problem- Since the initiative began in 2013, the federal govern- munications teaches four cross-cultural principles for you solve a problem, how you see other people and solving mindset that data and analytical tools engen- ment has issued $1.1 billion in guaranteed bonds for human connection developed by the late Dr. Angeles walk in their shoes. The workshop gave us the oppor- der and have broader insight. “A Berkeley Leader is not the sole purpose of spurring low-cost loans to small Arrien: show up and choose to be present, pay attention tunity to reclaim our old humanity.” so much posing a question but observing a problem no businesses, nonprofits, daycare centers, health care to what has heart and meaning, tell the truth without The hospital has since sent a total of 60 people to two one else has observed and working to solve this with a facilities, and other organizations in low-income blame and judgment, and be open to outcome not at- Leadership Communications workshops. team,” Morgan says. neighborhoods throughout the United States. tached to outcome. Stehr and Rittenberg have taken the leadership mes- Jones’ overarching goal for the CDFI Bond Guarantee Stehr became convinced that he needed to focus on sage on the road, most recently speaking to doctors at Lisa Jones, BS 85, Program has been to pave a clear path for community- how doctors and nurses interacted with one another to Texas Children’s Hospital in Houston and Cincinnati Securing $1B in Bonds for helps low-income focused lenders to access capital markets. This has been effect significant change. “By the end of [Mark’s] class I Children’s Hospital and to 700 pediatric surgeons at a Impoverished Communities communities no small feat for many reasons, including that many of was so inspired by the work, how it made me think about Miami conference. The pair plans to continue spread- gain access to these lenders, some of which got their start in church my colleagues, and even how I felt about the world,” says ing the word at hospitals about how valuable authentic Lisa Jones, BS 85, the program manager of the CDFI investment capital. basements, weren’t accustomed to following Wall Street Stehr. “I wanted to break down silos in the hospital and communication can be for staff and patients. Bond Guarantee Program in the U.S. Department of the For her work she norms, like filing quarterly financial statements. won the Samuel J. create a better experience for the patients and staff.” It is Stehr’s vision to use Rittenberg’s work to help Treasury, is one alumna leading a sea change at the com- But Jones’ leadership is producing results. Starting Heyman Service to Indeed, research has linked better communication UCSF Benioff Children’s Hospitals become the lead- munity level. An expert in international finance, Jones America Medal. In in 2015, Standard & Poor’s began rating a handful of among health care teams to better patient care; a 2015 ers in communication and connection among staff had spent much of her career advising pension funds government circles, these community-based lenders for their creditwor- article in the Columbia Medical Review found that good and patients. and other deep-pocketed investors on opportunities in the award, given thiness. In 2017, Local Initiatives Support Corpora- communication can reduce the length of hospital stays “We can revolutionize health care through trust and emerging markets abroad. Why, she often wondered, by the nonpartisan tion, Inc. and the Reinvestment Fund successfully and create more positive patient health outcomes. connection with each other,” Stehr says. “This can be as weren’t these same investors willing to bet on down- Partnership for priced public general obligation bond issues for $100 Stehr convinced hospital administrators to give powerful as any new procedures, treatments, or antibiot- trodden communities at home, with similar risks and a Public Service, is million and $50 million with Standard & Poor’s ratings Leadership Communications a try, and a total of ics, and the health care arena is ready for this next step.” clear payoff in terms of job and infrastructure growth? the equivalent to of AA and AA-, respectively. 25 doctors, nurses, and staff members kicked off a “It didn’t make sense to me,” says Jones. winning an Oscar. While the bond program has been hailed as a game- three-day pilot workshop run by Rittenberg’s Berkeley Executive Coaching Institute. Berkeley Leaders Guide Rittenberg, a former professional actor who found- With Vison and Empathy ed the Coaching Institute, uses theatrical activities to build bridges and develop respect among groups. With Not all business degrees are created equal, and at Stehr’s colleagues, he focused on developing “the heart Berkeley-Haas, that has become apparent through our and mind of a leader,” by getting staff to engage with Defining Principles: Question the Status Quo, Confi- each other. Participants were asked to share what they dence Without Attitude, Students Always, and Beyond most wanted their colleagues to know about them, Berkeley-Haas Yourself. what holds them back, their biggest dreams for them- Professor John “When Berkeley-Haas codified the Defining Prin- Morgan says his selves at work, and what they wanted to be remem- ciples—traits that have always been a part of our school role as a teacher is bered for at the hospital. to facilitate a trans- and culture—we explicitly stated what kind of leaders They also explored the difference between verbal and formation process, we want to put out into the world,” says Dean Rich Ly- nonverbal communication, everything from a person’s “to make students ons, BS 82. “Our aim is to create an environment that tone of voice to eye contact to facial expression—all fac- something even stimulates and supports impacts that will outlive you, tors that can impact communication in the OR, where more marvelous make the institutions you’ve been part of better, and it’s critical to be calm and present. than when they make the people whose lives you’ve touched better.” Chris Newton, trauma director at UCSF Benioff got into Haas.” It’s this compassion to improve the future that drives Oakland who works in the OR with Stehr, called the Berkeley Leaders, and their ambition, infused with the workshop phenomenal. “A small percent of the core Defining Principles, catalyzes innovative responses to our fast-changing society. Berkeley Leaders succeed by knowing how to lead high-performing teams that are diverse and inclusive to get to better outcomes. The ability of Berkeley Leaders to redefine how we do business, Lyons says, manifests in ways large and “A Berkeley Leader small. “We help redefine how the team around us gets work done together. We redefine the way we meet cus- is someone with a tomer needs with a new service. We redefine the sense of purpose that the people around us feel in the work we combination of vision do together,” he says. “At whatever level, and in whatever way, Berkeley Leaders contribute to getting this done. It adds up to solutions for the 21st century economy.” and empathy.” Professor John Morgan, who researches leadership,

PROFESSOR JOHN MORGAN says that Berkeley Leaders stand out because of their AARON CLAMAGE/CLAMAGEPHOTO.COM PHOTO:

14 BerkeleyHaas Summer 2017 15 changer for community development, Jones herself Berkeley Leaders Revitalize Business “As I learned at has been recognized for her pioneering work. Last fall, Berkeley-Haas, it’s she received the Samuel J. Heyman Service to Ameri- ca Medal awarded by the nonpartisan Partnership for all about having the Public Service. In government circles, it’s the equivalent of winning an Oscar. Kevin Brown, MBA 96 Tracy Gray, BCEMBA 07/08 vision and the skills “We’ve built a foundation for capital markets to understand the risks and rewards of investing in these Tapping the Potential of Improving Economic to create something communities,” says Jones, who also holds an MBA from Kitchens for Better Health Outcomes for Women that will make life Wharton. “We’re starting to see the rewards of that.” Preparing nutritious meals every night Tracy Gray, BCEMBA 07/08, founded can be time-consuming and stressful. We Are Enough (WAE) in her free time as better for the people But it doesn’t have to be, says Kevin a call to action for women to support one Transforming a Funding Crisis Brown, MBA 96. Brown co-founded and another and achieve economic indepen- you serve.” into a Multibillion Dollar serves as CEO of Innit, a connected dence through investing in women entre- Investment Opportunity food company helping people eat and preneurs. Via campaigns, salons, reports, LIRAN AMRANY, MFE 04 Chad Reed, Leigh Ma- live better via “smart” kitchens. Think and more, WAE educates women of all deira, Zach Knight, and Across California, millions of dead and dying trees dot sensors detecting what food is in socioeconomic levels as to how and why to Nick Wobbrock, MBA the Sierra Nevada wilderness. They’re a fire hazard your kitchen, software recommending lead with gender when making investment JOE LARESE PHOTO: 15s, co-founded Blue in forestland managed by cash-strapped federal recipes, and appliances automatically decisions. “We empower women by letting Liran Amrany, MFE 04, founded Debitize Forest Conservation, agencies, such as the U.S. Forest Service, which in cooking each meal to perfection. them know that they are already inves- to help people reap the benefits of which is developing the FY2015 used more than half of its budget to battle Brown is no stranger to shaping the tors,” says Gray, who notes that women are credit cards and improve their credit Forest Resilience Bond. wildfires. evolution of technology. He was part still underrepresented among investors scores without any debt, late fees, or But a quartet of MBA alumni from the Class of and entrepreneurs. “Women control the high interest charges. 2015—Zach Knight, Leigh Madeira, Chad Reed, and purse strings and we have traditionally shown that we’re good at philanthropy, so Nick Wobbrock—is looking to improve the landscape Liran Amrany, MFE 04 why not have a higher impact and make with Blue Forest Conservation (BFC), a San money by investing in women?” Boosting Credit Scores Francisco-based startup that deploys private capital Gray, managing partner of The 22 Capi- and Improving Personal to restore overgrown forests to a healthy density, tal Group, a social-impact venture capital thereby helping to preserve California’s watersheds. and advisory firm focused on investing in Financial Wellness “If there’s more spacing for snow to fall and stay on companies to increase their export capac- A trend among consumers to use debit the ground, we’ll have better snowpack that will last ity and in underserved communities, is no over credit cards, often to take control and it will melt more slowly,” says Wobbrock. stranger to leading with compassion—a of their debt or to avoid overspending, BFC is, in fact, developing one of the first outcomes- skill Berkeley-Haas encouraged her to concerned Liran Amrany, MFE 04. based securities in the environmental space—the grow. “Being at Berkeley solidified that “Debit cards deny people valuable

Forest Resilience Bond (FRB). These environmental JIM BLOCK PHOTO: I could operate in the business world cash rebates and rewards offered by investments accelerate forest restoration while Kevin Brown, MBA 96, CEO and with my own values and I didn’t have to credit cards and often leave them with creating social, environmental, and financial returns co-founder of Innit, is shaping the change,” she says. “Taking a negotiations thin credit files,” he says. for stakeholders, such as the U.S. Forest Service, water evolution of food technology and class—and learning that both sides could So Amrany founded Debitize, a agencies, and power utilities, who repay investors the “smart” kitchen. win—was mind-blowing to me. The values startup that lets people reap the ben- based on the environmental benefits they receive. at Berkeley-Haas matched what I felt.” efits of credit cards—and improve their “This is an enormous challenge and opportunity,” of the founding team at Internet in- credit scores—without any debt, late says Knight. “We have about three times the biomass frastructure pioneer Inktomi and then fees, or high interest charges. Each day, that should normally exist [in our forests].” gained some 20 years of experience Debitize sets aside money from a user’s in the networking, storage, security, If successful, this environmental-impact bond, checking account to cover any credit and cloud sectors with one IPO and card purchases. Debitize then pays the currently supported by the Rockefeller, Packard, two strategic acquisitions. “There’s a and Fink Foundations and in partnership with monthly credit card bill with the funds. huge opportunity to digitize the $21 “As I learned at Berkeley-Haas,” says Encourage Capital, World Resources Institute, and trillion global food market and unlock Amrany, “it’s all about having the vision American Forest Foundation, could serve as a new information within food—with the goal and the skills to create something public-private partnership model for environmental of empowering people to live and eat that will make life better for the people sustainability. better,” he says. you serve.” For co-founder Reed, who also works as a manager With $43 million in funding and in structured finance and risk management at more than three years of research in

TerraForm Power, BFC is a lifelong passion. “I devoted stealth mode, the Redwood City, Calif.- BERGER NOAH PHOTO: most of my time at Haas to finding ways to employ based startup is poised to turn meal Tracy Gray, BCEMBA 07/08, started We different financing mechanisms to serve social, and preparation into an experience that’s Are Enough to teach women why and how especially environmental, common good,” Reed says. efficient, universally affordable, and to invest in businesses owned or led by

PHOTO: LEIGH MADEIRA PHOTO: “I can’t imagine a career outside of this space.” indescribably magical. women and/or invest with a gender lens.

Writing and reporting by Kim Girard, Amy Marcott, Krysten Crawford, Andrew Faught, Diane Fraser, and Mike Rosen

16 BerkeleyHaas Summer 2017 17 In the Back In the Back Your Haas Network

STUDENTS ALWAYS Daredevil ity to find connections a biotech startup co- between fields that aren’t founded by Guochun Liao Scholar usually linked, which she that rapidly identifies Juanjuan Zhang, attributes in part to her microorganisms using Supreme Advocate PhD 06 time at Haas. DNA and big data. Epoch Foundation Prof. “There’s this sense of The company uses a Alumna’s business background informs of Intl. Management & freedom at Haas,” she DNA search engine called keen sense of justice Marketing, MIT Sloan says. “I was encouraged Taxonomer. Doctors can School of Management to research concepts upload data from a Lidia Stiglich, BS 92 Cambridge, Mass. that I found exciting—to patient’s sample into the Supreme Court Justice pursue that particular software—even from a Carson City, Nevada intellectual sparkle that mobile device. Within happens when you come minutes, Taxonomer Inspired by To Kill a Mockingbird and Perry Mason reruns, Lidia Stiglich across an idea that fires combs databases knew from an early age that the law would be her career. Routine visits up your imagination.” containing the DNA to the Contra Costa County Office of the Public Defender, where her Now a professor at MIT, sequences of bacterial, mother was a secretary, emboldened those ambitions. Zhang uses this ability to viral, and fungal microor- “It was the concept of the law that appealed to me, that we never get it push scholarly limits in ganisms to discern which right, that it grows and changes, and we grow with it,” Stiglich says. “It’s service of her students, pathogen is present. a human business.” and for this she has been “Sequencing is now very A native of Pittsburg, Calif., Stiglich served her own stint as a public noticed, earning two of powerful and affordable,” defender in San Francisco from 1997 to 2001, then became a criminal MIT’s most prestigious Liao says. “We’re question- Juanjuan Zhang is a dare- defense attorney, first in San Francisco then in Reno, Nev., where she teaching awards. ing the current diagnosis, devil—with her mind. At moved to be closer to family. In 2012, she was appointed district court “My time at Haas the standard of care, and least that’s what her Haas judge in Nevada’s Washoe County, working civil and criminal trials. trained me to think big asking, ‘Is there a better mentors, Miguel Villas- During her tenure, Stiglich co-founded the Youth Offender Drug and bold, and today, I way to do it?’” Boas and Teck Ho, told her Court, a response to Nevada being home to the nation’s fourth-highest teach my students the In addition to his about her unconventional drug overdose mortality rate (with 20.7 deaths per 100,000 people). same,” she says. “It may Berkeley MBA, Liao dissertation topic. The court dismisses felony charges against 18- to 24-year-old heroin be more comfortable to earned here a master’s Zhang’s dissertation and opioid addicts who undergo intensive therapy. write familiar, incremen- in computer science and explored how “observa- “The power of the law is that you touch people in so many different tal papers, but ultimately artificial intelligence and tional learning” shapes parts of their lives, and you raise them up in so many different the frontier of knowledge a PhD in genetics and the behavior of kidney ways, through due process and access and treating them decently,” in our field is defined by bioinformatics. He also transplant candidates Stiglich says. research that challenges was VP of bioinformatics when they’re offered In January, she donned a new robe: that of Nevada Supreme Court boundaries.” —KMY at Centrillion Biosciences an organ. The term justice. Stiglich is the first openly gay justice to serve on the state’s from 2010 to 2013. But refers to the inferences high court. “I hope to empower others to live and serve openly, happily, Precision he credits Berkeley-Haas people make from others’ and successfully,” she says. with opening up his choices and is typically Diagnosis Gov. Brian Sandoval appointed her to fill a vacancy on the seven- thinking and the Haas used in the context of Guochun Liao, EMBA 14 member body; voters in 2018 will decide whether to retain her for a full network with providing economics and market- Co-Founder, President & six-year term. him confidence to pursue ing. But Zhang’s research CEO, IDbyDNA Inc. “I feel so grateful to come to work every day,” Stiglich says of her an entrepreneurial path. found that it played out San Francisco role. “I feel blessed and humbled and a sense of responsibility.” With IDbyDNA rais- in the transplant arena Her time at Haas plays heavily into her journey—and her success— ing $9 million in Series as well. For example, and that’s by design. A financing in 2016, Liao candidates high on the “When I chose business administration as my undergraduate major believes 2017 could be a waiting list might refuse I felt, and it came to be justified, that it gave me an analytic framework hallmark year. Already the a kidney from an older that served me better in the law than any other degree I could have company is developing person, choosing to wait gotten,” she says. “I draw more upon my business degree now as a a Taxonomer-powered for a longer-lasting organ Supreme Court justice than I have in my entire career. Haas provided sequencing-based diag- from a teenager. Obser- me with the substantive knowledge to understand the factual issues nostic test for respiratory vational learning comes present in the complex business matters that I am called upon to infections, called Explify into play when the kidney decide. More significantly, Haas taught me to consider how my Respiratory, which will be is offered to the next decisions will affect others.” available soon. “The anal- Lidia Stiglich, BS 92, sits person on the list. Even As for her legacy, Stiglich will leave that to the court of public ysis technology is mature on Nevada’s highest court. though perfectly viable, To accurately treat a po- and the medical com- opinion. “I draw more upon my that patient also refuses tentially deadly infectious munity is ready to accept “Fighting for people who really have no voice and who are business degree now as the kidney, assuming that disease, doctors have to disfavored, that’s given me a keen sense of justice,” she says. “I a Supreme Court justice this concept,” he says. since it’s already been hope that my legal career shows that I’ve advocated for people— than I have in my entire be able to identify it first. “The sequencing cost is rejected, it’s no good. real people with real lives and real problems—and that I was fair.” career,” she says. Unfortunately, that’s not going down….Everything Zhang’s research — always a straightforward is coming together at the Andrew Faught demonstrated her abil- process. Enter IDbyDNA, right time.” —EB PHOTO: TIFFANY BROWN ANDERSON/AP IMAGES FOR BERKELEY-HAAS

18 BerkeleyHaas Summer 2017 19 In the Back In the Back Your Haas Network

Inquiring Mind Honda Silicon Valley Lab, carrot ginger soup and CONFIDENCE WITHOUT ATTITUDE the precursor to Honda chicken gyros—fresh, or- Naoki “Nick” Sugimoto, Innovations. ganic, locally sourced, and MBA 96 There, Sugimoto has at prices ranging from $4 CEO, Honda Innovations made good use of a to $9 a meal. “It’s like hav- “I probably would not have taken Name that Tune Mountain View, Calif. key skill he learned at ing a little Whole Foods in the risks that I did and started Haas: building strong your office,” says Mokri. a company had I not gone to Haas,” Alumnus silences naysayers to co-create work relationships in an She and her husband says Chris Barton, MBA 00. music-identification app American setting. and co-founder, Lee His idea for the Shazam music- Mokri, got the idea for identification app was considered “In Japan I didn’t have a pipe dream at first. Chris Barton, MBA 00 much opportunity to Byte while running a Founder and Board Director, Shazam encounter a diverse, inter- meal-delivery service San Francisco national business environ- in Marin County called ment,” he says. “I definitely 180Eats. Byte launched During the height of the dot-com boom, anything seemed possible for a got that at Haas. What in 2015, and now, with young entrepreneur with an interesting concept. So when Chris Barton I learned in my classes $5.5 million in funding, tried to sell others on his idea for an algorithm that would identify was important, but the the startup supplies and music instantly, the last thing he expected was a cold shoulder and networking skills I gained stocks Internet-connected When Naoki “Nick” Sugi- critics saying he was only chasing a fantasy. were even more so.” vending machines for moto arrived in Berkeley “But the more I got rejected, the more motivated I became to prove As his career contin- some 200 companies, in the mid-1990s from them wrong,” Barton says. He stuck with the idea and ultimately helped ues to thrive, Sugimoto including Amazon, Chev- Japan, he had few English usher in one of the most popular apps in the world. is mindful to always go ron, Williams-Sonoma, skills. But what he did The app, Shazam, grew from a simple frustration: not being able to beyond himself and think and Tesla. have was inquisitiveness figure out the names of particular songs Barton liked so he could add long term, advice his Key to the Mokris’ them to a personal playlist. and drive. success was discovering father taught him. While a Haas student, Barton and his three future co-founders— That curiosity has the latest in smart refrig- “My dad used to tell Dhiraj Mukherjee, Philip Inghelbrecht, MBA 00, and Avery Wang— served Sugimoto well, eration technology. Byte’s me, ‘It’s your life, you fig- brainstormed startup ideas. They ultimately settled on trying to develop inspiring creative action Internet-connected ure it out,’” he says. “‘Don’t a service that could identify any song within earshot in seconds, using throughout his career and hardware and software limit yourself. Push as far only a cellphone. especially now that he’s delivers real-time data as you can.’” —KMY Given the limitations of mobile devices at the time, Shazam was serving as CEO of Honda on inventory levels, the a brazen idea. This was a year before the debut of iTunes, seven Innovations (Honda R&D remaining shelf life of The Internet years before the iPhone, and eight years before Apple’s App Store. Innovations, Inc.), a new stocked foods, and indi- What’s more, Barton was a relative novice in Silicon Valley. Prior to business launched in of Lunch vidual preferences. matriculating at Haas, he had worked in strategy consulting. Now he April. Its focus is on Megan Mokri, MBA 16 This instant feedback was trying to modernize an entirely different industry. cultivating partnerships CEO & Founder, loop allows Byte to cus- Still, he says, the lessons learned inside—and outside—the Haas between Honda and Byte Foods tomize its offerings from classroom left him convinced the idea behind Shazam was going technology startups and San Rafael, Calif. one location to the next. integrating their ideas into It can even offer dynamic to work. Honda’s products—like pricing—say, a “happy “One of the great inspirations of being at Haas is that you are a 3-D car display or an hour” to spur demand actually seeing people around you who are doing amazing things. optical microphone that and avoid spoilage or I remember one day meeting Scott Kucirek, MBA 99, who went on can better differentiate discounts on a cus- to found ZipRealty. He told me he was starting a company. When a speaker’s voice from tomer’s favorite foods. I asked what he did before business school, he said he had been an background noise, even in Employers, for their part, Air Force pilot. An Air Force pilot! That was incredibly inspiring,” challenging environments. get the next best thing to Barton says. “Our goal is to encour- a company cafeteria. “To me, it said that the world can be your oyster if you have age open collaboration, “We are democratizing the desire to pursue a dream. It didn’t matter what you did before. and this new venture gives the process of getting At Haas, anything was possible,” he says. “I probably would not us the opportunity to learn fresh food into build- have taken the risks that I did and started a company had I not gone from world-class innova- The typical office vending ings,” says Mokri. Local to Haas.” tors,” Sugimoto says. machine is turning into food vendors, too, benefit Shazam solved the technical challenge of identifying songs and in The combination of a culinary adventure of a from reaching consum- 2002 unveiled an algorithm that featured a way to create a unique Sugimoto’s undergraduate much healthier and savory ers directly. And unsold acoustic fingerprint for each music track. The app has since been automotive engineering sort, thanks to Megan meals—more than downloaded more than a billion times and is used by more than a hun- training, his Haas degree, Mokri’s company, Byte. 100,000 to date—are dred million monthly active users. Shazam has continued to evolve, and his bilingual capabil- Customers simply donated to local food and advertisers now pay to use the company’s image-recognition, ity attracted Honda, which swipe a credit card to banks. “Our real-time augmented-reality, and sound-recognition technologies. recruited him in 2005 yield a buffet of refriger- data allows us to do These days, Barton enjoys advising new entrepreneurs and as a venture capitalist. ated gourmet fare for things that no other sits on advisory boards for health tech startups Eko Devices and Six years later, he became those long on hunger retailer has ever done Ava and media tech company FEM Inc. His advice to all would-be program director for and short on time. Think before,” she says. —KC entrepreneurs? “When you set your mind on something, believe in yourself.” —Charles Cooper PHOTO: NOAH BERGER 20 BerkeleyHaas Summer 2017 21 In the Back In the Back Investing in Our Future

Question the Status Quo UPCOMING EVENTS haas.berkeley.edu/ Means and Opportunity alumni/calendar Design firm CEO turns altruistic eye to Haas Rethinking Education New Grads Online learning pioneer supports budding and Student business leaders and data scientists For Allan Spivack, them with clothes Welcome Party MBA 79, the term and school supplies August 24 “making a difference” their children Berkeley John “Jack” Larson, BS 73, believes in transforming higher means acknowledging needed.” education and has been in the field for over 40 years. In 1994 that he has resources Now, Spivack is Cal Night with he founded Career Education Corporation to make learning to share and the turning his altruistic Oakland A’s accessible to everyone. He built it into one of the world’s largest opportunity to share eye to Haas. Last September 5 providers of postsecondary education, with $2 billion in annual them—not only in his year, he began an Oakland revenues. Today, Larson serves as executive chairman of Triumph business dealings annual gift of Higher Education, a Chicago-area entity that owns the Auguste around the world but $60,000 for the Reception with Escoffier School of Culinary Arts, which offers both on-site and also at his alma mater. Spivack Social EMBA Students online degree programs for culinary arts entrepreneurs. Larson “Being at Haas Impact Fellowship, September 15 has also been an ardent supporter of Berkeley. Since 2008, was inspiring,” he which is split Singapore he’s offered the Jack Larson Scholarship to undergrad and MBA says. “It gave me between two students interested in entrepreneurship. Earlier this year, graduate the opportunity to MBA students Veterans’ students at the Berkeley School of Information were awarded see business more who demonstrate Career Fair The Jack Larson Data for Good Fellowship. Larson discussed his globally and exposed interest in making September 23 career and philanthropy with BerkeleyHaas. me to concepts JOE LARESE PHOTO: business more Santa Clara, CA like sustainability Allan Spivack, MBA 79 equitable, empa- Berkeley-Haas What does being an entrepreneur mean to you? and just-in-time thetic, and effective manufacturing. After I graduated, I built through social entrepreneurship. “The Homecoming Larson: I’ve always understood that part of being an entrepreneur my design company, RGI Home, around fellowship is a way to identify students October 21 is shocking people a little bit. You push back and show people that principles that weren’t as common at with a high level of interest in social Berkeley maybe there’s another way. About six years ago I got the idea of the time, like trying to make a difference entrepreneurship and to get them Haas Gala teaching people not only culinary skills but also how to run a food in the local community.” thinking about how business can have a November 3 business—and to put the program 100 percent online. At the time Spivack started RGI Home in 1986, positive impact,” Spivack says. San Francisco that was deemed kind of crazy, because how do you teach culinary after working for a time in his family’s He also donates $30,000 annually for online? The reality is that chefs in culinary schools don’t actually import firm. Named after Spivack’s the new Investment for Impact Research Old Blues Reunion taste the food made by all the students. They judge if something’s great-grandfather Reuben Greenspan, Prize—the first of which will be awarded December 7 too runny or well done by sight, which means it can be done online. RGI Home offers storage products this fall. Berkeley To date, we have had 6,000 students from about 45 countries using made from sustainable and renewable Elsewhere at Haas, Spivack made a the same techniques and recipes from Chef Auguste Escoffier materials such as wicker, rattan, generous gift that will name a breakout Berkeley-Haas that almost every chef in the world has learned. They get practical bamboo, and wood to retail chains room after his family in the soon-to-be- Celebration in experience through a required externship. We also have career in North America and Europe. In opened Connie & Kevin Chou Hall and Silicon Valley services and entrepreneurship in the programs. the 1990s, Spivack managed RGI’s has pledged $100,000 to be distributed February 7, 2018 decade-long partnership with Williams over four years to help fund the Atherton, CA What inspires you to give back to Berkeley? Institute’s new Center for Gender, Equity Sonoma as its buying agent in Asia. Berkeley-Haas Larson: I feel gratitude for the education that helped give me the Spivack’s initial effort to effect & Leadership, a project founded by self-confidence to succeed. I’ve spent my career making higher positive change via RGI was to source Assoc. Adj. Prof. Kellie McElhaney, who Celebration in education accessible to underserved groups; I realize there are always home products from developing serves as the Center’s executive director, San Francisco financial needs at universities. I wanted to help change students’ lives countries—not only to provide and supported by Professors Laura March 14, 2018 and get to know them personally—and to help them understand opportunities for growth in those Tyson and Laura Kray. San Francisco the realities of being an entrepreneur. Larson scholars are always economies but also to support small The combination of the means and Reunion Weekend free to contact me, and I see them when I visit. For the I School, I am communities near his manufacturing the opportunity to help others is what facilities with health care, education, motivates Spivack, he says. April 27–29, 2018 inspired by the students who want to be data scientists for the Berkeley good of society. This is a way to improve the world. and child development. “I’ve been fortunate to build a “I thought if I could bring great successful business over the past Alumni What advice do you have for aspiring entrepreneurs? product to America and the market 30 years, and I have the privilege and Conference responded, that would generate obligation to do something with what Larson: You better fail fast and you better pivot in order to make April 28, 2018 business for countries like the I’ve accomplished,” he says. “I know that your idea work. If something’s not working, stop. If you ask any CEO Berkeley Philippines,” he says. “RGI’s first if I stay aware, I can make small but or anybody who is running a business, they’ll tell you that you’ve John “Jack” Larson, BS 73, in philanthropic work was there. We positive changes in the way others live.” got to reinvent yourself frequently. It’s tough because it’s like you’re his company's video studio gathered about 50 families and provided —Kate Madden Yee Remain a Student Always a snake coming out of your skin. Entrepreneurship is a humbling where online cooking classes with videos of Berkeley- experience because passion alone isn’t enough. Surround yourself are recorded Haas speakers at insights. with a great team. —Interview with Krysten Crawford haasalumni.org. PHOTO: CHARLES CHERNEY/AP IMAGES FOR BERKELEY-HAAS

22 BerkeleyHaas Summer 2017 23 In the Back In the Back

Watch the Commencement addresses by Joe Jimenez, MBA 84, and Haas Worldwide Events Sangeeta Desai, BS 98: haas.org/commencement17-speeches

Alumni Conference HaasX Talks 15th Annual Haas Celebration in SF 1 Keynote speakers Prof. Emeritus David Aaker and Watch bite-size talks from daughter Jennifer Aaker extraordinary alumni at 2 Martha Weeka, MBA 84; insights.haasalumni.org Adina Safer, MBA/MPH 95; and Gloria Beck, MBA 94 3 Cristina Stanley and Sam Van Dam, MBA 14s 4 The Cronk Family: 1 2 3 4 Rick, BS 65; Chris, MBA 09; Janet; and Kara 5 Bryan Wong, MBA 14, and Zach Whitman, BS 77, MBA 79 Africa Business Forum 6 Thato Keineetse and Hady Barry, MBA 17s 7 Keynote speaker Chris Folayan MFE Graduation 8 Professor Eric Reiner (center) with 2017 MFE grads 5 6 7 8 Arsh Sood, Adam Wearne, Ming Li Chew, and Sahil Puri 9 Venture Capitalist Howard Morgan NYC Chapter Admit Happy Hour 10 Kamellia Saroop, MBA/MPH 19; Dean Guo, MBA 19 11 Christian Dambolena, MBA 12; Jose Alonso, MBA 12; and Gregory Schorr, MBA 19

9 10 11 12 Alumni Conference and Reunion 12 Dean Rich Lyons, BS 82, and keynote speaker April Underwood, MBA 07 13 Olympic gold medalist Ryan Murphy, BS 17 14 Tejaswini Dhawale; Nilesh Dhawale, EMBA 15; and Shruti Nathan, EMBA 15 15 Clara Tucci and Bea Cassou, MBA 87s

13 14 15 16 16 Lisha Bell, BCEMBA 12 17 Jay Badenhope, Dennis Cox, and Douglas Park, MBA 02s

PHOTO: JIM BLOCK PHOTO: 18 Gary Ballabio, MBA 07, and son Dean’s Speaker Series 19 Anne Bakar, President & CEO, Telecare Corp. Gold Medal Insights 20 David Aaker, Haas Prof. Alumni inspire and delight in five-minute presentations Emeritus; Vice Chairman, Prophet Undergraduate Commencement The five-minute HaasX talks at the annual Alumni Conference Top row, from left: Ryan Murphy, BS 17, Olympic gold medalist; 17 18 19 20 21 Sangeeta Desai, BS 98, have become a highly anticipated event, and this year continued Shuonan Chen, BS 13, founding partner, Agile VC; Tai Tran, BS 16, one Group COO & CEO of Emerging Markets, FremantleMedia to bring laughter and thought-provoking ideas. Olympian Ryan of Forbes’ 2016 “30 Under 30” for marketing and advertising; Megan Murphy, BS 17, pulled out one of his three gold medals earned Mokri, MBA 16, CEO and founder, Byte Foods; Tootie Tatum, EMBA MBA Commencement 22 Joseph Jimenez, MBA 84, swimming at the 2016 Rio games during his talk. Tootie Tatum, 15, CEO, BlackHawk Genomics; John Woolard, MBA 97, former VP of CEO, Novartis AG EMBA 15, explained how her company, BlackHawk Genomics, energy, Google Inc. Middle row: Peter Fiske, MBA 02, CEO, SF Chapter at a Giants’ is working to analyze DNA to determine the best drug interven- Pax Water Technologies, Inc.; Victor d’Allant, MBA 87, founder and Game tions for individuals. And Panpan Wang, MBA/MPH 12, co- CEO, Dallant Networks, LLC; Tracy Gray, BCEMBA 07/08, manag- 23 Vicky Chen, BS 13; founder of the Flex Company, gave a heartfelt presentation ing partner, The 22 Capital Group; Panpan Wang, MBA/MPH 12, Mike Koran, BS 03; and Mauri Schwartz, MBA 85 about embracing awkward conversations, showing what it’s like co-founder, The Flex Company. Front: Kellie McElhaney, associate 21 22 23 24 24 Lakshmi Shivalingaiah, MBA 14, to be a man selling feminine hygiene products. adjunct professor, Institute for Business & Social Impact. and Janice Pearce

24 BerkeleyHaas Summer 2017 25 In the Back In the Back

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

ALUMNI NEWS Accolades and Books UNDERGRADUATE 1964 row Rayner Landscaping Schuyler Bailey, of Inc. won Best Landscape 1951 Berkeley, Calif. See Design Company in honorees are nominated Haas Loyalty Haas Represents Hugh Gordon, of Mapua, MBA 1965. Marin County as awarded by students as ones they Two Haas alumnae have Nelson, New Zealand, an- by the local weekly would like to be mentored been appointed to the nounces, “Celebrating my John Dearborn, Pacific Sun. Lead de- by and collaborate with 90th birthday surrounded of Davis, Calif., Our Defining signer Michael Alvarado California Alumni Principles keeps on designing outside of the class- Association (CAA) by children, grand- and has patented Question the room. Winners receive a great-grandchildren, and a digital Status Quo creative, water-wise board, the governing landscapes that people stipend and are invited to body for all UC Berkeley many friends. Counting marketplace my blessings: Thank- technology that love. Eric’s background participate in numerous alumni. The CAA aims as a magician keeps the student events to mentor ful for good health and offers improved search to move the hearts of the loving support from functionality. He’s looking designs fun and exciting! and counsel students as alumni and connect He adds, “Go Bears!” needed. Asera is current- my wife, Shona. Warm to commercialize his Marie (Cavanaugh) Walti, BS 97 (left), connecting with friends them back to the invention (U.S. Patent ly president and founder greetings and best Book by Dean Meyer, BS 74 Natalie Flowers and Shelley Williamson after sharing her story at university. As board Cathie Lesjak, MBA 86 wishes to old friends and 8,250,056), which can be 1982 Cal Homecoming a local business event of the Berkeley-Haas Las members, Sangeeta classmates from our New used for e-commerce, treats structure as an en- Vegas Alumni Chapter 35th Reunion 10/20–22 Amy Cheng, MBA 03, greeting Chakraborty, MBA 06, has been with HP since Zealand home on beauti- B2B, marketplace, gineering science. He lays Los Angeles where he Marie (Cavanaugh) Walti, provides real estate ad- guests at the 2016 Haas Gala as well as the Cal Alumni and Diane Dwyer, BS 87, 1986, was honored for ful Tasman Bay.” procurement, college out clear principles and of Newport Beach, Calif., Chapter of Las Vegas. selection, health insur- frameworks and gives visory and legal services. announces, “I left will seek to increase managing HP Inc.’s 1987 Cal Homecoming ance, and general data executives practical guid- Prior to joining Manatt, corporate America to Kudos and many thanks to engagement, philanthropy, spinout from the 2015 1952 Big Game Weekend 30th Reunion 10/20–22 Daniel was an in-house inspire and lead a team of Amy Cheng, MBA 03, and advocacy. mining—anywhere ance on how to design split of tech giant 65th Reunion 11/17–19 the money is in search. their own organizations. attorney for a startup and entrepreneurs looking to who stepped down as Hewlett-Packard Co. The patent addresses The book, which offers 35 practiced real estate and leverage e-commerce to Berkeley-Haas Alumni At the time of the split, “compare,” “contrast,” or stories and case studies 1991 corporate law for two top live meaningful lives. My Council chair on June 30. law firms in New York. Hewlett-Packard 1954 “difference between” an to illustrate its principles, Daniel Diaz, Our Defining family was forever Principles He was also a real estate During her productive and employed some 300,000 Merlin L. “Bud” Henry Jr., otherwise unresolved is a unique combination of Orange, changed by cancer twice investment banker at successful tenure, Cheng people in 170 countries of North Tustin, Calif., domain in search results. of vision, science, and Calif., writes, Beyond in a short period of time, Yourself Goldman Sachs. served as the steward of around the world. writes, “2016 was both In a single comparison pragmatic guidelines “Side passion and I decided I wanted to all things Haas, graciously a bad and good year for and selection screen, the and processes. This is project: trying to use our story to inspire Jane (Liou) Li, of Boston, hosting our signature me. In October, I lost my patent returns continu- Meyer’s eighth book, the procure $950M for people to find their Health Care reports, “I have been with events, including the Gala, wife, Mary Ann, after 37- ing interplay between culmination of over 30 a new boutique stadium passion and purpose to Visionary Monarch Partners Invest- plus years. Twelve days user-initiated changes to years of study and practi- for the Oakland Raiders, live abundantly today. My Homecoming, Reunions, ment Management, an later it was a good year as decision parameters and cal experiences leading so that they could enjoy vision is to inspire people and the Alumni Confer- Daniel Asera, BS 69 institutional investment Donald forced Hillary into outcomes in the course restructuring projects many more autumn to put first things first and ence. An expert on loyalty manager, since 2010. We permanent retirement. of narrowing a choice. in dozens of companies, winds in Oakland. discover and live out a marketing, Cheng helped Italian Intrigue invest in public equities Sangeeta Chakraborty, MBA 06 “Am back to all my old He writes, “I am hope- nonprofits, and govern- Otherwise, I am enter- legacy life. I created a the Haas Development & and I cover our invest- Christine Evelyn haunts: playing tennis, ful there would be an ment organizations. taining offers in corpo- platform on social media ments in the consumer Alumni Relations (DAR) (Cordi) Volker, going to the gym, and attractive fit for one with rate finance for startups called the MW Lifestyle as sector. My husband, team improve alumni MBA 78, is celebrating feeding the homeless market knowledge and 1976 or sports franchises a platform to share bits of George, and I have a engagement. She also the publication of her first at Mary’s Kitchen. Am commercial know-how. while maintaining my wisdom and stories as Roger Siboni has been 6-year-old son who loves encouraged DAR to focus still active in the local I am open as to trans- website: UKRaiders.com.” daily inspiration and hope. international mystery, Ve- named to the board of playing with Legos and on Net Promoter Score as community serving on action type, whether We have partnered with netian Blood: Murder in a directors of San Jose- pretending he is a ninja. committees and being venture arrangement, the McKenna Claire a construct and frame- Sensuous City (She Writes based MapR Technolo- 1992 Cal Homecoming We recently came back a longtime lector at my license, or sale.” See gies, developer of a Foundation to help find a work to use for bench- Press, 2017), in August. 25th Reunion 10/20–22 from a one-week vacation parish church. Would like the functionality at cure for pediatric brain marking. Cheng, who is The book draws on her converged data platform. at Disney World. It was a Sarah Krevans, MBA 83 to compliment the editors decisionmatrix.cogni. cancer and are exploring director of customer living experiences in Italy, Siboni previously served blast for my son and hus- and staff of BerkeleyHaas com and contact John at as the deputy chairman other ways to impact the experience strategy at banking knowledge, and [email protected]. 1997 Cal Homecoming band and tiring for me.” cancer community.” Macys.com, also focused Sarah Krevans, MBA 83, magazine; it is an excel- and COO of KPMG Peat imagination—such as the the president and CEO lent publication. When Marwick and chairman, 20th Reunion 10/20–22 on the corporate matching money-laundering empire Diane Dwyer, BS 87 of Sutter Health, was Dean Lyons’ schedule 1967 Cal Homecoming president, and CEO of program and was a of the dead man, a banker. permits, I hope he will one of six people 50th Reunion 10/20–22 E.piphany. Daniel Abram is now champion for having all Change Agent be able to speak to the Haas alumni at Macys. nominated for the San senior advisor at Manatt, ’s Orange County alums. Phelps & Phillips LLP in com make their gift and Cathie Lesjak, MBA 86, Francisco Chronicle Go Bears!” 1977 Cal Homecoming have it matched. of HP Inc. won a 2017 annual Visionary of the 1972 Cal Homecoming 40th Reunion 10/20–22 CFO of the year award Year award. Krevans 45th Reunion 10/20–22 was noted for reinvent- 1957 Cal Homecoming Faculty Spotlight from the San Francisco Business Times in the ing health care with 60th Reunion 10/20–22 1978 Daniel Asera, BS 69, a Transformation Agent offerings such as the 1974 Kent Halkett reports, professor at the Uni- category. The 12th Advanced Illness Dean Meyer has “I moved to Brentwood, versity of Nevada, Las annual award is given Management program, 1962 Cal Homecoming published a new book, Tennessee, this spring Vegas, received the UNLV to the CFO who which provides in-home 55th Reunion 10/20–22 Principle-based Orga- after practicing law in Faculty Fellows Build- has contributed to a hospice care, and the nizational Structure: A Los Angeles for 35 years. On May 6, members of the Class of 1997 gathered in San Francisco ing Block Award as an significant transaction, ICU Liberation program, handbook to help you A Bear forever!” to celebrate their 20-year reunion. Haas faculty member Steve engineer entrepreneurial inaugural member of the transformation, or which aims to get people Etter and his wife, Anne, were special guests. Shown, the organizing thinking and teamwork school’s Faculty Fel- Eric Rayner, of Novato, committee: Chris Bell, BS 97; Neil Doshi, BS 97, MBA 09; Nelson Book by Christine Evelyn turnaround of his or her off of ventilators and up into organizations of any lows Program. Faculty Calif., announces that Shing, Julie Litvak Bell, and Rich Wong, all BS 97; Steve Etter, BS 83, Volker, MBA 78 company. Lesjak, who and walking sooner. size. In the book, Meyer for the second year in a Daniel Abram, BS 97 MBA 89; Jerilyn Castillo McAniff and Peter Lee, both BS 97.

26 BerkeleyHaas Summer 2017 27 In the Back In the Back Haas Alumni Notes Save the date: Reunion Weekend, April 27–29, 2018

informal conversations Catalyst Sports & Media MBA of Presidents Before offices into our south- continued as enthusias- in Santa Monica, Calif. Our Washington exhibit. The ern California office to tic students engaged two main focuses right 1963 permanent display, lo- facilitate better com- panelists after the event. now are NBA player rep- cated at the Westin in the munication among our Gaetano Our Defining I was very encouraged by resentation and e-sports Principles Presidents Hill section team. Then I reorganized the outcome. The ‘Beyond advisory. For basketball, I “Michael” of Annapolis, explores the company into four Yovino-Young, Students Yourself’ attitude Haas focus on client sponsor- Always the lives of the 14 men smaller business teams instills transcends ship opportunities and of Berkeley, who led the United States that leverage our com- graduation years, and I player recruiting (we Calif., announc- from 1774 until 1789, be- mon navigation software hope to see more recently signed De’Aaron es, “Happy to say that in fore the nation’s second but focus on different collaborations between Fox from Kentucky). I work my soon-to-be 80th year, government was installed customer segments Haas alumni and on building financial mod- as I slowly retire from the under the Constitution. (autoOEM, fleet, off-road, community colleges.” els as part of our financial appraisal career I started Peter is president of and car owners). This advisory and capital in 1960, the company both the John Hanson increased accountability 2010 raising services for profes- incorporated in 1986 as Memorial Association—a and authority as well as Anjali Menon, BS 11 sional e-sports teams. Pedro Espinoza, BS 17, CEO & Yovino-Young Inc. contin- national body honoring helped drive the acquisi- Founder of SmileyGo, sharing ues and prospers under the incredible privilege of “Most important, I John Hanson’s life and tion of new business. To keep it going, or to set was able to take a week his insights regarding how to the leadership of my wife, nation-saving deeds and “Last summer, we won being featured on Times get angel funding at San Jose Alison Teeman, daughter it up, you need to get an Square through Nasdaq off from work to go to sponsor of the John Han- the award for best af- Chicago last November City Hall Diana Yovino-Young, BA son National Memorial termarket product at TU @berkeley.edu email account. for my work in tech. Sur- 08 (social sciences), and Do you use real to say the least!” and see my beloved erected in 2011 in Fred- Detroit for the Magellan All alumni email addresses Chicago Cubs finally win community. A few months Tamara Spokane, BA 99 erick, Md.—and Michael TRX. In December, we re- the World Series! I wasn’t ago, SmileyGo received (human biodynamics). Strategic Analysis, an leased our first autoOEM ending in mba.berkeley.edu, a Berkeley-Haas Dean’s alumni email 2012 Cal Homecoming able to go to any games The business has been award-winning stra- navigation software as haasalum.berkeley.edu, Fund award, the Jack located on Telegraph Av- and alumni.haas.org will 5th Reunion 10/20–22 ($3,000 just to stand!) tegic planning, market standard equipment on but being next to Wrigley Larson Entrepreneur- enue, just beyond teargas research, and litigation Subaru vehicles. In April, forwarding? now be managed through Field and in the environ- ship Award, and got into range since the tumultu- support firm. He is also we launched a fleet navi- this @berkeley account. ment was an unforget- SkyDeck’s Hot Desk ous 1960s and 1970s.” publisher of Underground gation and HOS software table life experience.” Program. Incubated at Railroad Free Press, the solution with Samsung. Manos Accelerator and 1965 top-circulation Under- Other deals are in the VISIT OUR WEBSITE FOR MORE INFORMATION: funded by Frank Baxter, Marissa (Sitka) Bowman, BS 10 Andrew Yassa, of Los Schuyler Bailey, of ground Railroad news pipeline, which should haasalumni.org/email Angeles, continues his BA 61 (economics), a Berkeley, Calif., reports, publication. enable Magellan to show career at Stifel, focusing UC Berkeley Founda- “Last November 12, my a year-over-year increase Marissa (Sitka) Bowman, tion Trustee and CEO of of Santa Clara, Calif., on investment banking father celebrated his 1979 in revenue for the first services for government Jefferies, SmileyGo is 100th birthday in Morro time in eight years. announces, “Married my disrupting the corporate David Southern, of San entities and nonprofit Bay with 38 family and Francisco, announces, This has all happened to host a student panel best friend and started funding industry. Undergraduate organizations nationwide. friends in attendance; he “After 33 years of work- because the people in our 2007 Cal Homecoming for aspiring community a new job at a startup in Pedro has been cont. In April 2017, he was still lives there in a nice ing in finance for various company have been able 10th Reunion 10/20–22 college transfers. With San Francisco.” featured at Univision’s promoted to assistant assisted-living facility. biotechnology compa- to take ownership and re- other DVC-to-Haas Hispanic Shark Tank, vice president, becoming We take care of our two nies and watching the sponsibility for their work transfers Matthew included at Under 30 2001 the youngest to hold that granddaughters (7 and industry grow from its and are empowered to 2009 Clagett, Cameron Toy, position in the depart- Change Makers, and 3) several days a week. learn and try new things.” Will Edmonson, of West joined the CEO Airport infancy to a major indus- Jose Cobangbang, of and Vivian Natalia, Nanxi Liu, BS 12 ment’s history. He writes, Last week, the 7-year-old Hollywood, Calif., writes, Task Force of the Silicon trial group, I’ve decided Walnut Creek, Calif., all BS 18s, and Luke “I am excited for the learned how to use her “I am excited to announce Valley Leadership Group. to retire. I’m taking time reports, “Wanting to Wilkinson, BS 09, we Nanxi Liu, of Los Angeles, responsibilities of being jump rope, going from 1983 35th Reunion that I have started my For more info please this year to reconnect support the public shared personal stories writes, “As CEO of Enplug, a strong pillar of support zero to 14 continuous April 27–29, 2018 own law firm, primar- contact pedro@smileygo. with old friends, travel, educational system and addressed prevailing I’m excited to share that for our clients and a jumps without missing, ily handling business net or visit www.pedroes- and rebrand myself as beyond Cal, I reached myths about Haas and we’ve expanded interna- good leader to my team’s overnight! We enjoy being litigation and appeals. pinoza.com and www. a writer, starting with a out to and worked with the transfer experience. tionally. Our digital dis- analysts and associates. on campus frequently, 1988 30th Reunion Before starting my own smileygo.net. memoir. Looking forward Diablo Valley College Following an hour of play software company It would be great to have having season tickets April 27–29, 2018 firm, I was a partner at Also, he just returned to having more time to (DVC) transfer services candid discussion, launched our Sao Paulo, more Haas alumni ex- to men’s and women’s Doll, Amir & Eley LLP and from the Annual DC read, write, and explore an associate at Gibson, Brazil, office in 2016. plore this interesting and basketball and women’s the many subjects I have This year we launched extremely fulfilling sector Silicon Valley Leadership volleyball. Go Bears! Dunn & Crutcher LLP. Group CEO trip, where a long-term interest in.” 1989 Previously, I served as a our Tokyo, Japan, office. of investment banking. I Go Haas!” I was also a co-producer hope to inspire others to he met Kamala Harris, Sheri Simmons, of Menlo law clerk in the federal Grace (Sophie) Chang, BS 10 Nancy Pelosi, and Kevin 1981 Park, Calif., announces, district court and then of The Bay, a TV show ‘Question the Status Quo’ William T. Ziemba, See available on Amazon, McCarthy to discuss tax Pierre Parent, “I recently joined Philips the federal appeals Grace (Sophie) Chang, in their career paths, and note under PhD 1969. Our Defining which was nominated reform, immigration re- of Irvine, Calif., Principles Healthcare as senior court. I am able to offer of Los Angeles, Calif., is I look forward to continue for 10 Daytime Emmy form, and cybersecurity. 1971 reports, “After Students global product marketing big law firm experience graduating with an MBA making Haas proud!” Always Awards this year.” Along with 40 other CEOs, starting as manager in the enter- and talent at affordable from UCLA this summer, Pedro advocated for Peter Michael, of president of prise imaging informatics 2017 Adamstown, Md., gave rates. Please feel free to planning to move to Asia 2013 federal funding for STEM, MiTAC Digital business, based in Foster contact me at 424-248- after graduation, and Pedro Espinoza, of earnings repatriation, a C-SPAN address on Corporation (dba Magel- City, Calif. I was hired to 9581 or will@whelaw- started a company at Brandon Our Defining Berkeley, Calif., his prize-winning book, Principles and more H1Bs so CEOs lanGPS) in January 2016, launch an exciting new firm.com if I can help you www.facebook.com/ Curran, of founded SmileyGo, a real- can hire the best talent Remembering John I commenced a reorga- product that uses adap- Los Angeles, Students with anything.” loveforallcompany. Always time data analytics plat- to keep moving the U.S. Hanson: A Biography of nization of the company tive intelligence to aid reports, “Since form that uses AI to help economy forward. the First President of the to reverse its decline physicians in diagnostic 2011 November 2015, corporations take control Original United States (due to a general decline imaging patient care. 2002 Cal Homecoming I’ve been the director of Anjali Menon, of San of their public policy Government, to celebrate in aftermarket GPS). We Taking this role was the 15th Reunion 10/20–22 Jose Cobangbang, BS 09 (far right), with Matthew Clagett, BS 18; business development Francisco, reports, “I had risk and understand the the opening of the Hall consolidated our two U.S. culmination of a focused Cameron Toy, BS 18; Vivian Natalia, BS 18; and Luke Wilkinson, BS 09 and player recruiting at

28 BerkeleyHaas Summer 2017 29 In the Back In the Back

Check out the Berkeley-Haas Marketplace for deals from alumni Haas Alumni Notes companies: haas.berkeley.edu/groups/alumni/byhaas

MBA cont. president and chief mar- old innovation, product “After graduating from practice as of January 1, bravo Dean Lyons! (By the keting officer at Physio- development, commer- NYU in 2015, Connor, 2017. After 17 years it is way, she graduated with Control, Inc. in Redmond, cialization, and corpo- my oldest son, became exciting to continue to honors last December.)” Wash. Physio-Control rate/venture firm. With a principal at Bay Area meet our clients’ valu- search to advance my ca- is now part of Stryker, seven innovation centers Sound, running delivery. ation needs related to 1999 reer in health care IT. acquired one year ago. around the world, we are My second son, Brendan, stock option pricing and Patrick Awuah, founder “I want to thank Haas We recently moved from dedicated to inventing, is now a junior at UCLA purchase price alloca- of Ghana’s Ashesi Univer- career services for the 24 years in suburbia building, investing in, studying economics, tions and continue to sity, was profiled in PBS excellent resources to downtown Kirkland, and launching category- and my daughter, Nicole, build strategic relation- Newshour as an agent and support I received. where we can walk to changing businesses at is a freshman at North- ships. We are now able of change. According Lara Klein was particu- more than 30 eating/ startup speed for the western’s Medill School to provide a wide variety to Awuah, “a lot of jobs THE BERKELEY-HAAS ALUMNI NETWORK TRULY IS THE POWER OF ONE ANOTHER drinking establishments of Journalism.” of assistance to CFO HIRE larly helpful and brings world’s most influential need to be created. We a wealth of experience and to Lake Washington.” companies.” organizations such as need to be educating the to her role. Many Haas transaction support/ next bench in a way that friends and alumni sup- Floris Van- due diligence, audit and Our Defining 1993 25th Reunion Leslie Smith, MBA 93, at her they’re going to go create ported my career search; denbroek, of Principles IPO readiness, as well April 27–29, 2018 first open studio at SF Art those jobs and create I am grateful to be a Amsterdam, Question the as technical accounting Status Quo Explosion with her oil painting, those opportunities for Haas alumna! the Nether- support. I love the idea people.” lands, reports, “Jade: What Do We Do Now?” of freeing up my clients’ “Having real fun time for leadership and Samir Goradia, heading a cybersecurity strategy functions by tak- Our Defining of Bakersfield, Principles HAAS company in the Nether- ing care of any technical Calif., reports, Looking for a job? Need to hire exceptional lands with offices in the headaches. It also has Confidence “Recently without U.S., Japan, and China. been great to pivot at became VP Attitude talent? Visit the Berkeley-Haas LinkedIn group More reasons to travel— this time in my career to of business jobs board, exclusively for Haas alumni. hopefully even more to a larger, more varied firm development for fintech the Bay Area. I now also as my kids are preparing startup Paygevity. We own a fiber optic telecom to leave the nest. www. allow large companies to Marcus Stock, MBA 93, with business, which provides armaninollp.com.” delay payments to their Darth at LucasFilm San SHARE YOUR JOB OPENINGS fast internet to homes suppliers while the sup- and offices. Francisco pliers are paid promptly LINKEDIN.COM/GROUPS/113/JOBS “I’ve been welcoming 1998 20th Reunion April 27–29, 2018 at a slight discount. I several classmates to 1997 would welcome inqui- Sheri Simmons, MBA 89 Amsterdam lately, includ- ries from large company Kristin Nicholson, MBA 93 (far right) with Paula Kehoe, Vuochnear Mark Breitbard was ing Archie Comas, Klaus named president and CFOs. Also, planning to Ly, and Cynthia Harris, MBA 93 Pablo Valencia, of Ma- community that I, along such as low-carbon “I’m also looking for- Hammer, and Shunsa CEO of Banana Republic. get married.” drid, shares this account with Alan Cummings, output firms, board diver- ward to my oldest son’s Hayashi. Eva and I still In his role, he serves on Kristin Nicholson, of San nica to call attention of how the Haas family MFE 05, and Sherwood sity, and equitable pay upcoming graduation have our three kids at the senior leadership 2000 Francisco, writes, “Last to the horrors of tribal works: “We were sponsor- Yuen, MBA 08, have practices. This is all from Boston University home, but the oldest will team for Gap Inc. Most year (along with Cynthia hatred and the obliga- ing our former nanny, an Pascal Hoffmann, of launched Just Invest. The made possible by a with a master’s degree in leave the house this fall recently, Breitbard served Harris Sze, MBA 93) tion of being human. undocumented youth Oakland, Calif., writes, firm is a hybrid technol- combination of big data, computer science. We’re to start medical school.” as CEO at The Gymboree I began mentoring a When we walk into a with the now famous “Andras Szirtes paid a ogy firm and investment quantitative finance, and thrilled that he’s already Corporation from 2013 young woman from room, we first check the DACA status, to complete visit to San Francisco advisory service focused technology. It has been found a job in Seattle. 1992 until early 2017. From Cambodia through the faces to see if it’s safe. I her high school and Haasmates in March on delivering personal- great fun getting the My husband and I also Scott Bechtler-Levin, of 2010 to 2013, he held nonprofit SHE-CAN am painting large-scale later her college degree. (see photo).” business off the ground have twin teens still in Encinitas, Calif., an- leadership positions (Supporting Her portraits focusing on She was smart enough and helping investors high school, so more fun nounces, “In October across Gap North Ameri- Education Changes A emotion—broad strokes, to complete commu- express their values.” parenting ahead.” 2016, I joined BCG Digital ca, where he was instru- Nation). Our mentee emotions, across all nity college with straight He adds, “Outside of work, Ventures at our head- mental in delivering the Vuochnear is completing cultures. I want my A’s and get admitted I am enjoying another 1990 quarters in Manhattan product-led resurgence her freshman year at choice under defining to UC Berkeley. Sadly, season of coaching my Beach, Calif., to grow the of Gap’s North America Cam Pollock, of Kirkland, Gettysburg College. principles, which should we realized that being youngest son’s baseball Steve Schuman, MBA 02 global health care prac- business. He also served Wash., writes, “I am now She’ll be returning to be Berkeley’s mantra: undocumented she had team. Nothing like a group tice of this three-year- as chief merchandising Editor’s note: watch Steve working as executive vice Phnom Penh for a ‘Demand Better!’” to pay the full tuition as of 7- and 8-year-olds to and creative officer of talk about economic op- summer internship and an out-of-state person. sharpen your manage- Old Navy from 2009 portunities in the emerg- will be back here in Marcus Stock, of San An- We then turned for help ment skills.” August to continue her selmo, Calif., announces, to early 2010. Previ- to our dear Haas friends, ing cannabis industry: haas.org/cannabis-biz. studies. SHE-CAN’s “After a successful career ously, Breitbard served including the dean’s 2002 mission is to empower in corporate consulting in leadership roles at office. Many friends Steve Our Defining David (Klingle) Bowman women from post-con- with leading firms includ- Levi Strauss & Co. and offered valuable advice Principles Schuman, of writes, “Moved back to flict countries to become ing KPMG and Oracle, I’ve Abercrombie & Fitch. and their contacts. After Question the Lafayette, Ca- Status Quo leaders and change been able to realize a goal a couple of weeks, Dean MBA 00 Haasmates (from left to right): Philip Inghelbrecht, the Bay Area in 2016 Jill Rapier, of lif., announces, to join Jackson Family makers in their nations.” I’ve had since high school Our Defining Lyons sent a brief email Sinead Phelan, Andras Szirtes, Pascal Hoffmann, Tegan Hoff- and move into a creative Pleasant Hill, Principles reading, ‘Pablo, we are mann, Karina Iniguez-Patterson, Greg Patterson, Patrick Feely, “After 15 years of Wines as the company’s investing at other peo- Leslie Smith, of Oakland, field. I joined Bay Area Calif., reports, Beyond looking into this.’ Nothing Carla Feely, Greg Funk, and Victor Liao. EVP of its Classics & Es- Yourself ple’s investment firms, I Calif., who retired as Sound, the leader in audio “Financial else. Two months later, tates portfolio of winer- recently left my previous associate vice-chan- services for the interac- Strategies we heard that the policy ies, located in California 2001 ized investment portfo- hedge fund. I’ve started cellor of governmental tive industry, as an execu- Consulting Group of the entire UC Berkeley and Oregon. Now living in Jonathan Hudacko, of lios. Most of our clients my own venture capital relations to become a tive producer in January (FSCG) was acquired by had been amended to Healdsburg with my wife, Berkeley, Calif., updates are pursuing environ- firm, primarily focusing full-time artist, writes, 2016 and was recently Armanino’s CFO Advi- welcome and help DACA Megan, and our two sons, Cam Pollock, MBA 90, in a recent family photo with wife, Dawn; as follows, “Happy to ment, social, and on startups that support “Picasso painted Guer- named CEO as well. sory Services consulting students. Bravo Haas, Jack and Max.” son, Corey; daughter, Diana; and princess Sophie announce to the Haas governance tailorings, the cannabis industry.”

30 BerkeleyHaas Summer 2017 31 In the Back In the Back Haas Alumni Notes

MBA cont. franchise consultants in now have three teams recipient of the fellow- bring investment access 2011 Hill into two condos to do Victor Pucci, of Santiago, I’m happy to meet any for family offices and America, as a consultant. spanning California, ship. This summer, that Jordan Lindsey recently our part in increasing the moved back to Chile. entrepreneurs who We help people find the China, and Greece. Our honor falls to Leon individuals with passive took a position as housing density of San He founded Kapin are looking for help right franchise fit.” cloud-based system Rodriguez, MBA 18, income (as defined by executive director of Francisco. We’re looking Capital, the first or who are raising 2003 15th Reunion built with Blockchain of NecesitoDoc. The the IRS) to the tax equity The Arc of California, the forward to moving to the private equity company money for young April 27–29, 2018 tracks each individual Fellowship is an market for solar projects state’s oldest and largest Potrero Hill neighborhood based on the circular enterprise software- product from the opportunity for Berkeley- across the U.S. This is a organization represent- sometime next year!” economy and artificial focused companies.” producer to the end Haas MBA students to unique opportunity for ing people with develop- intelligence. Darren Reinke, of consumer anywhere in pursue their passion, certain investors to make mental disabilities and 2013 5th Reunion Encinitas, Calif., recently the world to ensure as did Hansoo Lee. a meaningful contribu- their families. He lives in April 27–29, 2018 expanded Group Sixty, authenticity. As a The fellowship applica- tion to our renewable Sacramento with his wife a growth acceleration starter, we now serve tion opens again in energy future and still and three young children. company based in 70 premium Napa wine the fall; any support earn a favorable return Editor’s Note: Our sincere San Diego, to include brands to China.” is welcome. on investment. apologies to Benny Du for executive coaching in Fabio Mantovani, MBA 11 addition to strategic an erroneous alumni note consulting services. To posted under his name in “My wife, Sarah, and the Spring 2017 issue. support this expansion, I are excited about this Darren became certified new chapter, but we’ll 2015 by the International Adam Goldman, MBA 04 miss sunny California Coach Federation and and our friends, including is now coaching CEOs 2005 many Haas alumni." and other executives in San Diego and through- Yan Chow, of Orinda, 2012 out the country. This Calif., writes, “On a Christine Our Defining summer, Group Sixty is beautiful sunny spring Principles At the Haas Chicago Alumni Chapter social in December 2016: Lin, of San launching CEO Growth day at the end of March, Question the Sandeep Srinivasan, MBA 17; Brigitte Ozello, MBA 98; Lindsay Francisco, Status Quo Connection, a peer-to- a dozen of us EWMBA 05 Brown, MBA 10; and Roshan Mental, MBA 08 announces, peer group coaching classmates got together “After more than experience that enables for a fun mini-reunion Satish Mandalika, MBA 11 10 years in tech, I quit fellow CEOs to connect, lunch catching up with BCEMBA 2007 Jack Duan, MBA 06 (center), with the Gliding Eagle team and board, three of whom are also Haas Satish Man- to pursue my passion learn, and grow in a safe each other at Barcha Our Defining alumni: Dean Suzuki, MBA 69, Ali Aydar, MBA 06, and advisor Michaela Rodeno, MBA 80 dalika, of San Principles of architecture and and supportive environ- in downtown S.F. Janine Ramon, Calif., Question the interior design full time. 2003 BCEMBA 15th ment. The first one will O’Neill was the orga- Status Quo reports that he My design firm, Form + be located in San Diego, nizer, and it was way Jennifer Quan, of San Dinesh Reunion 4/27–29, 2018 2007 Our Defining and Ankit Jain, Field (formandfield.com), but Darren plans to overdue.” Mateo, Calif., is question- Moorjani, Principles MFE 13, started an works on both residential Matt Heling, MBA15 launch a virtual group ing the status quo by of Belmont, Confidence AI company (https://www. 2006 without and commercial projects. Matt Heling, of Bangkok, later this year to connect inspiring kids and Calif., an- Attitude drishyam.ai/) in the home Combining my project/ Thailand, started a new Nick Triantos, of CEOs in smaller markets. families to LOL (Love nounces, “Last decor/home improve- product management job in September 2016, Woodside, Calif., To learn more, please visit Out Loud) at rec room year I co-founded ment domain. He notes, noting, “I’m currently head announces, “I’m now groupsixty.com/CEO. creative, her indoor a boutique investment “A few months back we of energy consulting for working as a partner at play and community banking firm, Telegraph got picked by Nvidia’s Poyry Energy Ltd, a Ignition Partners, a space—where she also Hill Advisors, which inception program, a Finnish global engineer- 17-year-old venture supports other women focuses on M&A and select group of compa- ing and consulting firm. I capital firm focused on entrepreneurs. private financing advi- nies applying AI to solve lead market assessments enterprise software. sory for emerging growth interesting problems in technology companies. and price projections for Ignition started life in the different domains. We Joshua Posamentier, BCEMBA 07 2008 10th Reunion electricity markets and Seattle area but On the personal front, my launched our AWS-based April 27–29, 2018 financial modeling for expanded to Silicon wife and I had our first platform at the beginning Joshua Posamentier, child last year, our baby power plant projects Valley back in 2013 of the year. We are excited when my partner and of Piedmont, Calif., daughter, Harleen, who across Southeast Asia.” reports, “At the beginning Joe Lazar, of Corte about what the future fellow Haas alum, Nick just turned 9 months. holds for young AI startup of the year, I co-founded a Sharon Chen, Sarah Brewer, Ben Martin, Janine O’Neill, David Madera, Calif., writes, “My 2016 Sturiale, MBA 00, joined. With the new business, companies such as ours.” new sustainable Slater, Yan Chow, Mandy Nelson, Howard Chen, Ravi Anaparti, company is growing! though, I feel that I’ve got technology firm called Andrea Tarble, Anthony Kong, and Matt Fisher, all MBA 05s We’re a creative market- two babies to raise!” Fabio Mantovani reports, Prelude Ventures and ing agency in N.Y. and S.F. Christine Lin, MBA 12 “I recently took on a closed the first fund. We and we work with some John Pavolotsky, of focus on early stage 2006 , new challenge. I am now Darren Reinke, MBA 03, with Michael Berolzheimer great brands like Amazon, San Mateo, Calif., reports, skills with my creative startups addressing founder and managing heading up the technol- his two sons, Madden and Kai Jack Duan, of Google, and GE. It’s been “Last fall, I joined the chops, I’m looking to revo- diverse challenges in partner of Bee Partners, ogy development team lutionize the client expe- American Our Defining a whirlwind, and I think Privacy and Security energy, sustainable Principles at Centrica Distributed 2004 Canyon, Calif., announced that in it’s only going to get more Legal Team at Intel, after rience for interior design Energy & Power based in technologies, food, and updates as Students addition to providing intense. Haas has been supporting the Technol- to create a truly smooth Adam Goldman, of Hous- Always Seattle. We are working agriculture.” follows, “I capital support for the an amazing foundation ogy and Manufacturing and seamless one. ton, reports, “Building with early, mid, and late- started Gliding Hansoo Lee Fellowship, for growth. Go Bears!” Group for the past 3.5 Happy to chat about your upon a seven-year career stage energy startups to Eagle in 2010 with the in memory of Magoosh years. It’s amazing how residential or commercial 2008 BCEMBA 10th as a Houston area master in-source cleantech to intention to balance the co-founder Hansoo Lee, 2010 privacy and security have project or connect with Reunion 4/27–29, 2018 franchisor for Vanguard develop new products trade between the U.S. MBA 10, Bee Partners is Justin Amirault, of San evolved over the past 10 others in the industry! Cleaning, a national of- and services for renew- and China and to better also offering mentorship Francisco, recently years, when I first started “My partner, Ankur, and fice cleaning company, able energy customers facilitate global trade and office space during founded Glasswing work in this space.” I are developing a single- I have joined Franchoice, the summer to the worldwide. family home in Potrero Victor Pucci, MBA 16, with his son, Jeronimo, at the summit of the premier network of with transparency. We Capital Management to Manquehuito, in Santiago

32 BerkeleyHaas Summer 2017 33 In the Back In the Back

Haas Alumni Notes Save the date: Reunion Weekend, April 27–29, 2018

BCEMBA cont. forthcoming book, Unstop- of the board of directors the University of British OBITUARIES pable Influence: 7 C-Suite for Meals on Wheels Columbia in Vancouver, Leadership Imperatives of Alameda County, Canada. I now also serve for Making Your Dent in Peter is chair of a large as the director of the chaired the building committee for the SF Museum Sean Luangrath, of High- the Universe, which will be fundraising cycling event W. Maurice Young Centre Gerson P. Bakar, BS 48, Real published later this year.” in October and leads for Entrepreneurship and of Modern Art and helped create UCSF’s Mission Bay land, Utah, left Aerohive Estate Leader & Philanthropist campus. He was also a major supporter and leader Networks and joined several development Venture Capital Research Inergy Solar, a cleantech initiatives to improve care at Sauder. Additionally, Gerson P. Bakar, a visionary of the Jewish Community Federation and Endowment for seniors. Contact him I’m now associate editor startup, as the CEO. He leader in real estate, educa- Fund, among other community efforts. on LinkedIn to help. Social media posts of Administrative Science adds, “Moved from Silicon tion, and philanthropy and a He is survived by his wife, Barbara, and extended Valley to ‘Silicon Slopes’ come and go, but Quarterly.” committed supporter of UC family. (Salt Lake City area).” 2016 1st Reunion Berkeley, passed away June 5 April 27–29, 2018 an Alumni at age 89. Clarence W. Houghton, BS 60, The son of a Petaluma chicken Adjunct Professor Emeritus Note lasts. farmer, Bakar graduated with a bachelor’s in business then Clarence W. Houghton, BS 60, MFE Submit yours at launched a stellar career as a a Haas adjunct professor Bay Area real estate developer, counting San Mateo’s emeritus, died April 21 at 2013 haas.berkeley.edu/alumninotes Woodlake housing development and San Francisco’s the age of 81. He grew up in Daniel Kimble, BCEMBA 10 Ankit Jain, See note Levi’s Plaza among his most notable projects. Walpole, NH, and studied for Satish Mandalika, Over the years, Bakar and his wife, Barbara, greatly for a year at the University MBA 2011. enhanced Berkeley through wide-ranging contribu- of Southern California before 2013 1973 1986 tions and leadership. In 2005, the couple made what is joining the Air Force and Peter Holst, of Oakland, Cathy Goodwin, Marc-David L. Seidel, PhD 97, Our Defining still the largest philanthropic investment in Berkeley- marrying his high school Calif., has joined Arup, an of Philadel- Principles at UBC phia, writes, Question the Haas’ history, which endowed five new faculty posi- sweetheart, Ritva Pajunen. innovative multinational PhD Status Quo Sean Luangrath, BCEMBA 08, engineering consulting “Still working tions. In honor of this gift, Haas named its faculty wing After four years in the military, Houghton enrolled and family company, to help build 1969 online, after the Barbara and Gerson Bakar Faculty Building and at Berkeley. He always took 20 units or more while many years as a the acoustics group EXECUTIVE established the Barbara and Gerson Bakar Faculty working part time at Whelan’s Smoke Shop and in San Francisco and William T. Ziemba pub- college professor and re- 2010 lished a new book titled EDUCATION Fellows. More recently the couple made another major graduated Phi Beta Kappa. Houghton then went to Our Defining explore growth in digital searcher. My websites are Daniel Kimble, Principles buildings, especially in Stock Market Crashes: cathygoodwin.com and contribution, toward Chou Hall. Harvard Business School, graduating with a degree of Orinda, Calif., Question the health care, education, Predictable and Unpre- midlifecareerstrategy. 2016 With his wisdom and support, Bakar helped make in accounting and finance. He took a job with the Status Quo dictable and What to Do reports, “Happy and commercial/work- com. My marketing site Mohammed Ashfaque the Berkeley-Haas real estate program one of the accounting firm of Haskins and Sells (now Deloitte), to announce my About Them (World Sci- focuses on copywriting place. Meanwhile, as VP Hussain, of Bangalore, strongest such programs anywhere. In 1991, Haas advancing rapidly to become, at the time, the entific), which presents and using storytelling to India, founded www. youngest partner in the firm’s history. He retired studies of big and small communicate your mes- inaaz.com, a diversified named him its Business Leader of the Year, the crashes that occur from Dr. Chuck Leo, PhD 73 sage and make marketing business group, and school’s highest honor. Bakar served on the Haas as the partner in charge of the firm’s San Francisco bubbles bursting or other easier and more produc- seeks investors inter- School Board and was a founding member and Northern California offices. reasons. The focus is on , of tive. Recently, I developed Charles Leo Our Defining ested in seven social and of the Chancellor’s Executive Advisory Council. Houghton also taught at Haas for some 18 years, determining if a bubble Huntington Principles a program for small economic uplift busi- For decades, his voice was one of the campus’ most earning a Cheit Award for teaching excellence. A actually exists, on models Beach, Calif., Beyond businesses interested ness drivers. “I believe Yourself to predict stock market was recently in pivoting and planning in building talents for influential and respected. dedicated volunteer, Houghton led the school’s first declines in bubble-like awarded the to work that into a book projects [with] the best The Bakars also served as the inaugural co-chairs annual campaign and served on the Haas School markets, and on exit Annual Distin- and/or course. developers in Bangalore of The Campaign for Berkeley, the university’s biggest Board. In 1989, Haas named him its Business Leader strategies from these guished Professor “I’ve been living in and across the world to fundraising effort to date, and created the Bakar Fel- of the Year, the school’s highest honor. Houghton bubble-like markets. Outstanding Teaching Philadelphia for six years join my startup seven lows Program in 2011 to support early career faculty. is survived by his wife, Ritva; brother, Charles; Award for 2016 from now—too many develop- projects, taking off at Pepperdine University. ers taking over! Thinking very high speed,” he Besides his contributions to Berkeley, Bakar was daughters Wendy Archibald and Nina Bowman; son, Dr. Leo is a frequent of finding a way to semi- writes. He also formed a founding director of BRIDGE, one of the nation’s Clarence W. (Bill) Houghton; seven grandchildren; speaker and seminar retire overseas, perhaps a group called RPC, leading nonprofit affordable housing corporations. He six great-grandchildren; and several cousins. leader at both profes- in Spain. No children Rights and Powers to sional and academic but adopted a cat who’s Citizens, which seeks to conferences throughout maybe 10 or 15. My other keep hatred and division the country. Most cat is at least 17 and the away from the lives of In Memoriam recently, he spoke on “The dog turned 13 in October. each citizen by focusing Relevance of Mindfulness So at times I feel I’m run- Thomas Miller, BS 41 Bruce Pass, BS 50 Robert Sayles, BS 52 Kenneth Rawlings, on economic growth and BS 59 for Business Leaders” at ning an old folks’ home.” power sharing, a “fresh John Davis, BS 42 Catharine Rising, BS 50 Henry Wakefield, BS 52 an event sponsored by ideology catching up in Allison Fahey, BS 42 Irma Adelman, BS 51 William Lind, BS 55 John Scheuermann, the New York Conference 1997 every corner—Kashmir, Ian Stoddart, BS 42 David Anderson, BS 51 Alexander Barges, BS 56 BS 62 Board. He teaches Marc-David Seidel Gujarat, West Bengal, William Boucher, BS 47 Albert Tuller, BS 51 Richard Kure, BS 56 Charles Buckman, BS 63 courses in organizational announces, “I’ve been Assam, UP, and more Clarke Astle, BS 64 behavior, leadership, Carlton Daiss, BS 49 John Boyle, BS 52 Donald Schwartz, BS 56 promoted to be the than 14 states,” he adds. Jeanne Lew, Asst. Dir., change management, Edwin Lee, BS 49 John Clark, BS 52, William Tubbs, BS 56 New book by William Ziemba, RBC Financial Group Haas Career Services and organizational Walter Smith, BS 49 MBA 57 Eugene Peterson, BS 57 PhD 69 Professor of Entrepre- Natalie Berg, Friend development. neurship at the Sauder John Marconi, BS 50 Maurice Holloway, BS 52 William Scruggs, BS 57 School of Business at Kenneth Pollock, BS 52 T. Gary Rogers, Friend

34 BerkeleyHaas Summer 2017 35 In the Back

Haas Personal View Rich Lyons, BS 82 HOUSER KEEGAN PHOTO:

But it’s tough to scale purpose. In addition to leading To distill purpose more equally throughout the company, Berkeley-Haas, Dean many firms are considering hiring chief purpose officers. Rich Lyons, BS 82, has Shannon Schuyler, newly hired first chief purpose officer been exploring how at PricewaterhouseCoopers, defines the role as, “how you business leadership connect purpose to an individual so they know what they drives innovation, need to do in their roles and how you help them see person- specifically how ally how they connect with values and behaviors.” values-based leadership Given what the latest research says, this may not go can transform an far enough. It is important for each and every employee organization, create to be trained for this mindset. By helping every employee competitive advantage in see that at least part of their job is chief purpose officer, a crowded marketplace, we can further break down the wall between rhetoric and provide a sense of and action. Part of being a chief purpose officer, then, is purpose at every level pulling out the meaning and benefit from any business of the organization. He and connecting your people more directly to that, regard- began writing a monthly less of whatever (perhaps narrow) slice of the business column for Forbes.com occupies most of their time. Importantly, this includes in the spring. Read his even everyday things that we too often overlook, like cre- articles at forbes.com/ ating jobs, or serving customers profoundly well. When sites/richlyons. your people can see themselves in this role, it is, in effect, a shift in identity. An interesting thing happened to me when I became dean. Board member Margo Alexander, BS 68, the retired chair and CEO of UBS Global Asset Management, told me that I was the chief purpose officer. This was Make Every news to me. (My background is in economics and finance.) Once I got over that initial bewilderment, I realized this kind of thinking makes me better at motivating Employee a Chief and connecting our people and pushes tangible outcomes like innovative and collaborative thinking. And Beth Sordi, MBA 07 Purpose Officer now, every fall, I tell all our incoming students that chief Director of Product Management, purpose officer will be part of their jobs as well—instill- BabyCenter CVS Health famously dropped tobacco sales— ing a larger sense of purpose in the people around them. even though the move was estimated to cost them $2 As one more example of my own behavior change, I reg- Beth Sordi believes in empowering women and billion annually in revenue—because it conflicted with ularly share more widely emails that I receive from peo- building community. She designated Berkeley- their established principles. That is unmistakable ple we serve that hammer home why we do what we do, Haas the beneficiary of her IRA, specifying commitment to company purpose. and why it matters. Like Simon Sinek’s concentric cir- that the money be used at the dean’s discretion Does purpose matter? Some say it works, others cles, we should be going after the “why” just as carefully with a preference for supporting women in suggest it’s tricky and flawed. Who’s right? as we go after the “what” and “how.” A slightly different version of leadership training. “I don’t have the assets to Enter important new research, released last summer, I was 45 when I became dean—I wish someone had told this article originally appeared which shows that companies that instill a sense of pur- me beforehand that this is part of what “leading” and mo- on Forbes.com. make a big gift to Berkeley today, but the pose reap meaningful financial benefits. “Ultimately, our tivating people is about. Early in our careers most of us resources will be there after I’m gone,” she says. study suggests that purpose does, in fact, matter,” write think of ourselves first as individual contributors. At some GIVE “It’s my best opportunity to make a significant two of the study’s co-authors, George Serafeim and Clau- point many people begin to realize that their most impor- gift in my lifetime, and I know it will have an dine Gartenberg, in the Harvard Business Review. tant work will get done by working through and with other To the Programs That Matter impact in the future.” But the researchers have a warning: It’s easy to mess up. people. If your company can play a role in making this “It only matters,” they explain, “if it is implemented in transition happen sooner, coupled with responsibility for Most to You While Retaining conjunction with clear, concise direction from top man- instilling a greater sense of purpose in others, you will agement and in such a way that the middle layer within benefit from the ripple effect. Assets During Your Lifetime. the firm is fully bought in.” Give your new hires greater opportunity to understand Instilling a greater sense of purpose in our organiza- the width of your company’s purpose and why working tions—not just at companies but also at big institutions together has meaning. Don’t assume that this will auto- like Berkeley-Haas—has been an increasingly important matically be communicated by simply reading your stated goal for business leaders over the past few years. Public vision, mission, and values. Set expectations—and give discussions about corporate and organizational purpose them regular opportunities to flex their own purpose- have increased fivefold since 1994, according to Oxford officer muscles with their own direct reports and teams. University and Ernst and Young. Most millennials Define what specific actions work best for your company (87 percent, in fact) believe “the success of a business along these lines and measure whether they are practiced should be measured in terms of more than just its finan- at multiple levels. cial performance.” And 47 percent of consumers buy from Talk about purpose adds little without clarity on the companies that boast a purposeful brand. deeds and roles that back it up.

36 BerkeleyHaas