THE MAGAZINE OF THE HAAS SCHOOL OF BUSINESS AT THE UNIVERSITY OF CALIFORNIA, BERKELEY University of California, Berkeley Nonprofit Organization Haas School of Business U.S. Postage 545 Student Services #1900 Paid Berkeley, CA 94720-1900 University of California, Berkeley BerkeleyHaasSummer 2018 HAAS HAPPENINGS @ CAL FRIDAY, OCTOBER 12 KICK-START YOUR HOMECOMING WEEKEND HOMECOMING • California Greenin’ with Prof. Emeritus David Vogel WEEKEND! • SkyDeck Open House at Berkeley’s accelerator SATURDAY, OCTOBER 13 THERE’S SOMETHING FOR EVERYONE BEFORE THE CAL BEARS TAKE ON THE UCLA BRUINS • Parent Welcome Event for Haas undergrad families • How SkyDeck Will Create a Bright Future for UC Berkeley with Caroline Winnett, MBA 90 • Bringing Haas Leadership Communications to Health Care with Lecturer Mark Rittenberg • Bear Affair Tailgate BBQ under the Campanile • Cal vs. UCLA How Berkeley Haas is accelerating blockchain’s potential OCTOBER 12–14, 2018 | HOMECOMING.BERKELEY.EDU Redefine Interested in a custom program Summer 2018 for your company? EXECUTIVE EDITOR FEATURES AND DEPARTMENTS THE BLOCKCHAIN ISSUE the Future of Together with our Ute Frey UP FRONT esteemed faculty, MANAGING EDITOR we’ll work with Amy Marcott Business DESIGN you to create Cuttriss & Hambleton, Berkeley Haas alumni enjoy 30% off programs that fit Berkeley any open-enrollment program in 2018 your organization’s STAFF WRITERS Laura Counts, Valerie Gilbert, distinct needs. Kim Girard Contact us for more details: [email protected] Housing risk, p. 8 For our full program list, visit executive.berkeley.edu CONTRIBUTING WRITERS 2 Haas List Michael Blanding, Ori Brafman, Cal football star Patrick Laird, Krysten Crawford, Nancy Davis BS 18, gets youths reading Kho, John Deever, Andrew Faught, Carol Ghiglieri, 6 Power of Ideas Kate Madden Yee, Don Moore, Campaign reform and Sam Zuckerman political attack ads 8 Power of Ideas PHOTOGRAPHY A warning about the Franklin Avery, Jim Block, mortgage industry Cal Athletics, Edward Caldwell, Kelley Cox (KLC Fotos), 10 Faculty Books Cris Gebhardt, Karl Nielsen, Thaveechai Phongpandech, IN THE BACK Piya Ray Chindaphorn, Dan Steinberg, Thor Swift ILLUSTRATORS Lincoln Agnew, Joey Guidone, Dan Page PHOTO: JIM BLOCK PHOTO: For Berkeley Haas, the old adage is true: The more things change, the more they stay the same. Even BerkeleyHaas magazine is though the Defining Leadership Principles were codified just eight years ago, earmarks of our culture published by the Haas School have defined the essence of business education at Berkeley since our founding 120 years ago. of Business, University of Page 4 California, Berkeley. For Apple’s Isabel Ge Mahe, MBA 08 further information, contact: 16 Haas Network BerkeleyHaas Magazine Editor Alumni from Apple, Evergreen Haas School of Business Services Group, Nike, Slack, University of California, Berkeley Executive Decision-Making NEW | Online Offerings 3 Smooth Segues Opendoor, and Azure Power 2001 Addison St., Ste. 240 A letter from Interim Dean Laura D’Andrea Tyson. Global Berkeley, CA 94704 November 5–7, 2018 Multiple Programs | Fall 2018 20 Investing in Our Future [email protected] Empower yourself to make better decisions Apply the knowledge and skills you develop online in real time Gifts supporting Haas BerkeleyHaas Summer 2018, Join Professor Don Moore for this three-day executive The new Berkeley Executive Education online programs offer a 4 Happy 120th Birthday, undergrads and the Number 98. Sustainable Food Initiative program using real-life examples and business case studies. flexible schedule and exercises that relate directly to your career. Berkeley Haas! For change of address, email Gain the tools to make the most out of new opportunities. Join Berkeley Haas faculty from anywhere as they guide you 22 Worldwide Events [email protected] Learn how your intuition guides you and avoid the mind through live instructions in our leadership and product manage- Haas celebrates a milestone with a look at some defining moments. Dean Rich Lyons, BS 82, traps that can impair effective decision-making. ment programs. receives a top Berkeley honor Find special online-only content and submit alumni 24 Connections IDEAL FOR: Leaders who expect to be making decisions that IDEAL FOR: Those who seek a flexible schedule with direct ap- notes at haas.org/alumni-mag impact the success of their functions or organizations. plication of practical learning exercises and who want to grow their 12 A New Internet Startup WeTravel network among an elite cohort of professionals. How Berkeley Haas is accelerating blockchain’s potential. 26 Accolades 26 Alumni Notes 39 In Memoriam 40 Personal View Haas Lecturer Ori Brafman executive.berkeley.edu | CONTACT: +1.510.642.1304 Cover illustration by Dan Page on running toward fear Summer 2018 1 Up Front Up Front Haas List Beyond Yourself INTERIM DEAN’S MESSAGE Cultivating Bookworms Haas Culture After a breakout to encourage kids in first season as a Cal Bears through sixth grades to running back, Patrick read. Laird visited 20 Smooth Segues Laird, BS 18, had a local schools to promote Carved newfound fan base. So he the program, which asks A Letter from Interim Dean decided to do something students to download Laura D’Andrea Tyson positive with it. Laird, a a journal and commit walk-on who last year to reading a certain in Stone An outstanding dean lays the groundwork for a seamless transition rushed for 1,127 yards and number of books. If to his or her successor. Our outstanding dean, Rich Lyons, has done eight touchdowns, created successful, they’ll score just that. He has assembled a committed and talented staff, and he has the Patrick Laird Sum- four free tickets to Cal’s identified clear strategic priorities for Berkeley Haas. With support mer Reading Challenge home opener. from his team, I will work as interim dean to advance these priori- ties until a new dean is appointed. I thank Rich for his steady vision and the dedication he has inspired in the members of the Berkeley Haas community. My main responsibilities over the next few months are to oversee the school’s day-to-day operations, to represent Haas at California Hall with Chancellor Carol T. Christ and Provost Paul Alivisatos, and to ensure a smooth transition to our next accomplished leader. I am PHOTO: CAL ATHLETICS CAL PHOTO: honored by the trust that my colleagues and the chancellor’s office have placed in me to carry out these tasks. The last time I served as dean at Berkeley Haas was some 20 Patrick Laird, BS 18, with first grader Patrick Sproul, a fan who years ago. Since then I have watched our school secure its reputa- sparked the idea for Laird’s summer reading program tion as one of the world’s top-ranked business schools, recognized as a force for values-driven leadership. The Defining Leadership Principles—Question the Status Quo, Confidence Without Attitude, EMBA Program Students Always, and Beyond Yourself—are now an intrinsic part of our school’s character. These principles are reflected in the school’s World Ranked commitment to educate future leaders to tackle “wicked” prob- The Berkeley MBA for Executives Program lems and make the world a better place. As faculty director of ranked #4 in the world, according to the Economist the Institute for Business & Social Impact, I have witnessed Which MBA? list. More specifically, Haas ranked this commitment in action every day. #1 in terms of the EMBA program helping alumni The chancellor’s office hopes to have a new dean named fulfill their goals, networking, and helpfulness of and in place sometime this fall. In the meantime, know that EMBA alumni. This is the first year our EMBA I will be doing my best to serve the school, guided by its program has participated in this ranking. Defining Leadership Principles and strategic priorities. PHOTO: JIM BLOCK PHOTO: Sincerely, Rich Lyons, BS 82, on one of his final days as dean, standing before the Defining Leadership Principles Alumni etched into the faculty building Globe-Trotting Hero Our Defining Leadership Principles are now truly Phil Seo, MBA 11, just had the adventure embedded into the Berkeley Haas experience. In June, of his life. The North Vancouver native and his sister, Martina Seo, are one of Question the Status Quo, Confidence Without Attitude, 10 teams competing on The Amazing Laura D’Andrea Tyson Students Always, and Beyond Yourself were etched into the Race Canada: Heroes Edition, which began Interim Dean, Berkeley Haas airing in July. The siblings raced around the Bakar Faculty Building by Cronk Gate. The idea for the world completing challenges in hopes of display grew out of the culture champions committee and winning $250,000 and other signals the importance of our Defining Leadership prizes. Each team represents everyday heroes; Seo and his Principles to our community. But being carved in stone sister were selected for their doesn’t mean our culture is static, says Chief Strategy & volunteerism. Together, they’ve Operating Officer Courtney Chandler, MBA 96. “How we logged at least 10,000 hours of community service, much of view and act on our four Defining Leadership Principles it helping kids worldwide. will continue to evolve, and I am confident our distinctive Siblings Martina and culture will grow even stronger.” Phil Seo, MBA 11 PHOTO: KARL NIELSEN 2 BerkeleyHaas Summer 2018 3 Up Front Up Front Haas News Question the Status Quo: Students Always: Founding Redefining Business Entrepreneurship Courses Education By the late 1960s, innovative Berkeley Of the 65,500 business school grads were creating companies that grads in 1949, only 6 percent smashed the staid models and caught took graduate degrees. Why? public interest like wildfire. The school Some business schools were lit- responded in 1970 by offering a course tle more than secretarial train- in Entrepreneurship and Business De- ing, while Berkeley’s undergrad velopment—one of the first such courses curriculum surpassed many grad- in the country at a time when peer insti- uate programs.