Haas Women in Washington - SPRING 2021 - University of California, Berkeley

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Haas Women in Washington - SPRING 2021 - University of California, Berkeley
S P RIN G 2021

               S PRI NG 2 0 2 1

02>
Haas Women
in Washington
Three professors managing
nation’s finances

Plus:
ALUMNI ACCELERATE
HEALTHCARE’S FUTURE P. 12
THE FONT DETECTIVE P. 20
Haas Women in Washington - SPRING 2021 - University of California, Berkeley
TEN
                                                                                                                                                                                                                     8

                                                                                                                                                                                                              A new
                                                                                                                                                                                                           PRO SPORTS
                                                                                                                                                                                                          business model
                                                                                                                                                                                                                PAGE 26

                                                                                                                                                                                                                     9

                                                                                                                   TAKE AWAYS                                                          6

                                                                                                                                                                              The crime-
                                                                                                                                                                                                        How e-tailers
                                                                                                                                                                                                          TRICK
                                                                                                                                                                               fighting                   you into
                                                                                                                                                                               power of                 buying more
                                                                                                                                                                                                                 PAGE 9
                                                                                                                                                                                   FONTS
                                                                                                                                                                                   PAGE 20

                                                                                                                                                                                       7
                                                                                                                                                                               A virtual hug
                                                                                                          2                         PAGE 8                                      from your
                                                                                                                                                                               HAAS ALUMNI
                                                                                                        Lessons in TEAM BUILDING                                                 NETWORK
                                                                                                        from hackers and hula hoopers                                              PAGE 55

                                                                                                                       3                          Why
                                                                                                                                          BAD IDEAS
                                                                                                                 PAGE 51                     spread in
                                                                                                                A beloved                      social
                                                                                                                                             networks
                                                                                                              BOOKSTORE’S                        PAGE 4
                                                                                                               secrets for
                                                                                                                success                               4

                                                                                                                                                                                         Technology
                                                                                                               The actual accuracy of                                              that will revolutionize
PHOTO: C HRISTIN A GA NDOLFO; I LLUSTRATION S: DRUE WAG NER

                                                                                                                   election polls                                                           FIREFIGHTING
                                                                                                                                    PAGE 6
                                                                                                                                                                5                                  PAGE 45
                                                                                                                                                                                                                             10
                                                                                                         MASTHEAD
                                                                  1
                                                                                                        Ute Frey                        Contributing Writers              Address changes:                     SPRING
                                                                A look                                  Executive Editor                Michael Blanding, Mickey Butts,
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                                                                                                                                                                          Contact:
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                                                                 at the                                 Amy Marcott
                                                                                                        Managing Editor
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                                                                                                                                        Davis Kho, Andrew Faught,
                                                                                                                                                                          letters@haas.berkeley.edu
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                                                                            Haas alumni pushing the
                                                                PAGE 12                                 Staff Writers                   three times a year by the Haas
                                                                           boundaries of healthcare.    Laura Counts, Kim Girard,       School of Business, University
                                                                                                        Natasha Payés                   of California, Berkeley.                                        Cover: Tim O’Brien
Haas Women in Washington - SPRING 2021 - University of California, Berkeley
PUBLIC POLICY

                                                                                                                     National Treasures
                PHOTO: © SHAWN THEW - POOL VIA CN P/C NP VIA ZUMA WIRE

                                                                                                                          Haas economists manage nation’s finances
                                                                                                                                               BY LAURA COUNTS

                                                                                                                 Three Berkeley Haas economists are continuing the school’s
                                                                                                                 long tradition of public service in Washington, D.C.: Assoc. Dean and Prof.
                                                                                                                 Catherine Wolfram and Assoc. Prof. Adair Morse have joined Prof. Emeritus
                                                                                                                 Janet Yellen, who serves as secretary of the U.S. Department of the Treasury.
                                                                                                                    Yellen, the first woman to lead the Federal Reserve, is now the first
                                                                                                                 woman to serve as treasury secretary. She’s also the first person to have
                                                                                                                 served in the nation’s three top economic roles, since she also chaired the
                                                                                                                 President’s Council of Economic Advisers during the Clinton administration.
                                                                         < More Online                           Haas economist and Distinguished Prof. Laura D’Andrea Tyson was the first

    2                                                                    Learn about the long history of Haas
                                                                         economists influencing public policy:
                                                                         haas.org/public-policy.
                                                                                                                 woman to chair the Council of Economic Advisers.          CONTINUED ON NEXT PAGE>

Berkeley HAAS
Haas Women in Washington - SPRING 2021 - University of California, Berkeley
< CONTINUED FROM PREVIOUS PAGE                                            PERSPECTIVES
                                                                                                                                                                             media—even by artificial users known as bots.          “Ten years ago, no one was talking

                                                                                         Like-Minded
                                                                                                                                                                                In an experiment, Guilbeault and colleagues
                                  Yellen is credited with shepherding the country
                                                                                                                                                                             asked numerous people to identify what they saw
                                                                                                                                                                                                                                     about ‘fake news,’ and now everyone
                              out of the Great Recession when she led the Fed
                              from 2014 to 2018 and will now serve as Pres-
                                                                                                                                                                             in Rorschach blots.                                     is trying to categorize whether                            #HAASOME
                                                                                                                                                                                “In small populations, there was a ton of vari-
                              ident Biden’s lead economic advisor as he con-
                                                                                                                                                                             ation in how people described the shapes,” says
                                                                                                                                                                                                                                     news media is fake or not.”
                              fronts the fallout from the coronavirus pandemic.            The power and vulnerability of                                                    Guilbeault. “As you increase the size of the pop-
                              She will also be instrumental in helping Biden                                                                                                                                                        it, and you get a cascade.”
                              reduce income inequality and initiate an economic
                                                                                                  social networks                                                            ulation, however, rather than creating unpredict-
                                                                                                                                                                                                                                        Interestingly, he and his colleagues were able to
                                                                                                                                                                             ability, you could actually increase your ability to
                              recovery package focused on manufacturing and                                                                                                                                                         manipulate people’s choices by introducing bots
                                                                                                                                                                             predict the categories they’d decide on.”
                              clean-energy jobs.                                                   BY MICHAEL BLANDING                                                                                                              with an agenda into the system. These automatic
                                                                                                                                                                                 The large groups consistently settled on just

                                                                                                                                           ILLU STRATION: DANIEL HERTZBERG
                                  “Economics isn’t just something you find in                                                                                                                                                       participants continually implanted the idea that
                                                                                                                                                                             a handful of ways to describe the numerous dif-
Prof. Emeritus Janet Yellen   a textbook,” Yellen wrote on Twitter after being                                                                                                                                                      the ink blots looked like a sumo wrestler, an oth-
    Secretary of the U.S.                                                               There’s a reason ideas—even erroneous                                                ferent blots, including “crab,” “bunny,” “frog,”
                              sworn in. “It can be a potent tool to right past                                                                                                                                                      erwise unpopular category. Sure enough, when
Department of the Treasury                                                              ones—catch fire on social media, says Berkeley                                       and “couch.”
                              wrongs and improve people’s lives.”                                                                                                                                                                   bots accounting for 37% of participants pushed
                                                                                        Haas Assistant Professor Douglas Guilbeault:                                            “When you’re in a small group, it’s more likely
                                  Yellen has also increased the department’s                                                                                                                                                        the idea, human users also started adopting it over
                                                                                        groupthink. His new research, published in                                           for unique perspectives to end up taking off and
                              focus on fighting climate change. Wolfram, the                                                                                                                                                        other categories.
                                                                                        Nature Communications, shows that large groups                                       getting adopted,” Guilbeault explains. “Whereas
                              Cora Jane Flood Professor of Business Adminis-                                                                                                                                                            What’s more, when researchers afterwards               TOP SCHOLAR
                                                                                        all tend to think alike and illustrates how eas-                                     in large groups, you consistently see ‘crab’ win
                              tration, started March 1 in the position of dep-                                                                                                                                                      showed those participants the image commonly
                                                                                        ily people’s opinions can be swayed by social                                        out because separate individuals are introducing                                                                 Matteo Maggiori,
                              uty assistant secretary for climate and energy                                                                                                                                                        deemed a crab by other groups, they were much
                                                                                                                                                                                                                                                                                               PhD 12, won the
                              economics in the Office of Economic Policy. She                                                                                                                                                       more likely to call it sumo as well. “We showed
                                                                                                                                                                                                                                                                                            prestigious Fischer
                              is a world-renowned expert who has published                                                                                                                                                          people the crabbiest crab,” Guilbeault says, “but
                                                                                                                                                                                                                                                                                             Black Prize honor-
                              extensively on climate and energy economics and                                                                                                                                                       now plenty of people described it as looking like
                                                                                                                                                                                                                                                                                             ing the top finance
                              led randomized controlled trials to evaluate energy                                                                                                                                                   a sumo.”
                                                                                                                                                                                                                                                                                              scholar under 40.
                              programs in the U.S., Ghana, and Kenya.                                                                                                                                                                   The same phenomenon happens on social
                                                                                                                                                                                                                                                                                             The biennial award
                                  “It’s fantastic that the Biden administra-                                                                                                                                                        media, says Guilbeault, who has previously
  Prof. Catherine Wolfram                                                                                                                                                                                                                                                                    from the American
 Deputy Assistant Secretary   tion is paying so much attention to climate                                                                                                                                                           researched the influence of Twitter bots. By push-
                                                                                                                                                                                                                                                                                            Finance Association
      for Climate and         change,” says Wolfram. “It’s one thing to sit in                                                                                                                                                      ing an idea continuously, both real and automated
     Energy Economics                                                                                                                                                                                                                                                                        is analogous to the
                              your office and write about what policy makers                                                                                                                                                        users are able to sway the majority to use their
                                                                                                                                                                                                                                                                                               John Bates Clark
                              should and shouldn’t do, but I’m really excited                                                                                                                                                       terms. “In some sense, Trump’s presidency was a
                                                                                                                                                                                                                                                                                            Medal in economics.
                              to be a part of those efforts.”                                                                                                                                                                       war over categories,” Guilbeault says. “Ten years
                                                                                                                                                                                                                                                                                            Maggiori’s research
                                  Morse, the Soloman P. Lee Chair in Business                                                                                                                                                       ago, no one was talking about ‘fake news,’ and
                                                                                                                                                                                                                                                                                               has included the
                              Ethics and a member of the Haas Finance Group,                                                                                                                                                        now everyone is trying to categorize whether news
                                                                                                                                                                                                                                                                                              analysis of inter-
                              began in February as deputy assistant secretary of                                                                                                                                                    media is fake or not.”
                                                                                                                                                                                                                                                                                               national capital
                              capital access in the Office of Domestic Finance,                                                                                                                                                         For that reason, he says, content moderation
                                                                                                                                                                                                                                                                                            flows, exchange rate
                              which develops policies and guidance for Treasury                                                                                                                                                     by social media platforms that relies on identi-
                                                                                                                                                                                                                                                                                             dynamics, bubbles,
                              Department activities in the areas of financial                                                                                                                                                       fying the difference between real and fake news
                                                                                                                                                                                                                                                                                             and the role of tax
                              institutions, federal debt finance, financial regu-                                                                                                                                                   may actually be doing more harm than good by
                                                                                                                                                                                                                                                                                                havens. He’s an
                              lation, and capital markets.                                                                                                                                                                          subtly validating those very categories. A better
                                                                                                                                                                                                                                                                                              associate profes-
  Assoc. Prof. Adair Morse        Morse had spent much of the pandemic helping                                                                                                                                                      approach, Guilbeault says, may be to focus on
 Deputy Assistant Secretary                                                                                                                                                                                                                                                                  sor at the Stanford
                              small businesses. She and Tyson developed an inno-                                                                                                                                                    eliminating the bots spreading the categories in
      of Capital Access                                                                                                                                                                                                                                                                      Graduate School of
                              vative loan program that uses public capital to attract                                                                                                                                               the first place—or to create more accurate cate-
                                                                                                                                                                                                                                                                                              Business. In 2013,
                              private lenders and provide low-interest credit to the                                                                                                                                                gories that are also appealing enough to spread.
                                                                                                                                                                                                                                                                                              Haas Prof. Ulrike
                              most vulnerable small businesses. It became the foun-                                                                                                                                                     “You could do market research in a networked
                                                                                                                                                                                                                                                                                               Malmendier was
                              dation of the state’s California Rebuilding Fund and a                                                                                                                                                focus group,” says Guilbeault, in order to dis-
                                                                                                                                                                                                                                                                                             the first woman to
                              program in Berkeley.                                                                                                                                                                                  cover and spread more benign ideas. Those strat-
                                                                                                                                                                                                                                                                                              receive the prize.
                                  “I’m thrilled to have the opportunity to                                                                                                                                                          egies might ultimately succeed better than using
                              serve in the Biden Administration and to join                                                                                                                                                         flags or warnings in changing the way people
                              the team at Treasury, serving the people of this                                                                                                                                                      communicate, leading to a more civil public dis-
                              great country,” says Morse.                                                                                                                                                                           course overall.

                              < More Online                                                                                                                                   The Takeaway                                            The Takeaway

    4                         Listen to “Who’s Yellen Now?” a Hamilton-
                              style rap created by rapper and songwriter
                              Dessa, a member of the hip-hop collective
                              Doomtree: smarturl.it/DessaYellen.
                                                                                                                                                                              This Berkeley Haas research on
                                                                                                                                                                              groupthink was named one of Wikipedia’s
                                                                                                                                                                              notable scientific events of 2021.
                                                                                                                                                                                                                                      Our unique perspectives might hold up in
                                                                                                                                                                                                                                      small groups, but in large ones, like on social
                                                                                                                                                                                                                                      media, our beliefs are vulnerable to the
                                                                                                                                                                                                                                      manipulative power of groupthink.
                                                                                                                                                                                                                                                                                                        5
Berkeley HAAS                                                                                                                                                                                                                                                                                        SPRING 2021
Haas Women in Washington - SPRING 2021 - University of California, Berkeley
Research >>                                                   1,400 POLLS ANALYZED // GENERAL ELECTIONS &
                                                                                                                                                                        Snapshot                                                      PRIMARIES in 2008, 2012, 2016

                                                                                                                                                                        MARGINS OF
      #HAASOME                                                                                                                                                                                                                          5
                                                                                                                                                                        ERROR
                                                                                                                                                                        In order to be                                                                                                 1 YEAR BEFORE
                                                                                                                                                                                                                                       4.5                                                ELECTION
                                                                                                                                                                        95% accurate,

                                                                                                                                                                                         ADJUSTMENT FACTOR NEEDED FOR 95% ACCURACY
                                                                                                                                                                                                                                                                                       margins of error
                                                                                                                                                                        pollsters need                                                                                                 should be tripled
                                                                                                                                                                        to greatly                                                      4

                                                                                                                                                                        increase the                                                                                                                                                   1 WEEK BEFORE
                                                                                                                                                                        margins of                                                     3.5                                                                                                ELECTION
                                                                                                                                                                                                                                                                                                                                        margins of error
                                                                                                                                                                        error they                                                                                                                                                     should be doubled
                                                                                                                                                                        report.                                                         3

                                                                                                                                                                                                                                       2.5

UNNAMING BARROWS                                                                                                                                                                                                                        2

  Last fall, the uni-
                                                                                                                                                                                                                                       1.5
versity removed the
                                                                 RESEARCH
 name Barrows Hall
  from the building

                                                   POLLING TRUTH
                                                                                                                                                                                                                                                 70           60            50             40              30            20            10           1
   that housed the
   business school                                                                                                                                                                                                                                                               NUMBER OF WEEKS UNTIL ELECTION

 from 1964 through
1994 due to the leg-                                                                                                                                                    ACCURACY
acy of white suprem-                         Just how accurate are election polls?                                                                                      OF POLLS                                                      70%                                    1 YEAR+ BEFORE
    acy and racism                                                                                                                                                      Most polls                                                                                            THE ELECTION
                                                                                                                                                                                                                                                                            less than 40% of polls
 espoused by former                                                                                                                                                     ask, “If the

                                                                                                                                                                                         PERCENTAGE OF POLLS WITHIN MARGIN OF ERROR
                                                            BY LAURA COUNTS                                                                                                                                                                                                       are accurate
 UC President David                                                                                                                                                     election were                                                 60%
  Prescott Barrows.                                                                                                                                                     held today,…”
                        Public confidence in election polls plum-          A 95% confidence interval means that
Barrows is one of at                                                                                                                                                    yet accuracy
                        meted after Donald Trump beat Hillary           if the same sampling procedure were                                                                                                                           50%
  least four campus                                                                                                                                                     declines the
                        Clinton in 2016 despite trailing her in         followed 100 times, 95 of those samples
unnamings aimed at                                                                                                                                                      farther from                                                                                                                                                   DAYS BEFORE THE
                        the polls. Even so, horse race-style cover-     would reflect the true voter population.
ensuring that build-                                                                                                                                                    an election                                                   40%                                                                                                 ELECTION
                        age of the latest polls continues to domi-      These statistical “sampling errors,” how-
ing namesakes align                                                                                                                                                     the poll was                                                                                                                                                   only about 60% of

                                                                                                                      PH OTO: IRENE YI; ILLUSTRATION: BRIA N STAUFFER
                        nate election news cycles.                      ever, do not include errors and unknowns,                                                                                                                                                                                                                      polls are accurate
    with Berkeley’s                                                                                                                                                     conducted.
                           A recent Berkeley Haas study suggests        such as surveying the wrong set of people.                                                                                                                    30%
 principles of com-
                        that election poll accuracy hasn’t actually        “There are many reasons why an actual
  munity. Until the
                        declined. Rather, it was never as accurate      outcome and poll could differ, and the way                                                                                                                                                                                                10 WEEKS BEFORE
  building receives                                                                                                                                                                                                                   20%                                                                          THE ELECTION
                        as pollsters claimed.                           pollsters compute confidence intervals
 a new name, either                                                                                                                                                                                                                                                                                               only about half of
                           Most election polls report a 95% confi-      doesn’t take those issues into account,”
  honorific or phil-                                                                                                                                                                                                                                                                                              polls are accurate
                        dence interval. Yet an analysis of polls from   says Prof. Don Moore, who conducted the
anthropic, it will be
                        11 election cycles dating back to 2008 found    analysis with Aditya Kotak, BA 20 (com-
 known as the Social
                        that the outcome lands within the poll’s        puter science and statistics).                                                                                                                                           70           60            50             40              30            20            10           1
  Sciences Building.
                        result just 60% of the time. And that’s for        “Perhaps the way we interpret polls as a                                                                                                                                                              NUMBER OF WEEKS UNTIL ELECTION
                        polls just one week before an election—         whole needs to be adjusted to account for
                        accuracy drops even more further out.           this uncertainty,” Kotak says.

                                                                         The Takeaway                                                                                                                                                 The Takeaway                                                              The Takeaway

    6                                                                    It’s easy to take sampling error into
                                                                         account in polling statistics, but much
                                                                         harder to account for all the other
                                                                         unknowns, says Prof. Don Moore.
                                                                                                                                                                                                                                      To actually achieve 95% confidence,
                                                                                                                                                                                                                                      polls would need to double the
                                                                                                                                                                                                                                      margins of error they report even a
                                                                                                                                                                                                                                      week from election day.
                                                                                                                                                                                                                                                                                                                Just days before an election, polls
                                                                                                                                                                                                                                                                                                                are 95% confident but only 60%
                                                                                                                                                                                                                                                                                                                accurate. Accuracy diminishes the more
                                                                                                                                                                                                                                                                                                                time there is before an election.
                                                                                                                                                                                                                                                                                                                                                               7
Berkeley HAAS                                                                                                                                                                                                                                                                                                                                               SPRING 2021
Haas Women in Washington - SPRING 2021 - University of California, Berkeley
thousands of people to tinker and display their     monalities. Thus, engineers teaching geometry
                                                                                                                                                                                                                                       projects. Gorbatâi tracked how often attendees      with fractal tiles reported a newfound admiration
                                                                                                                                                                                                                                       reiterated a shared purpose, such as “everyone is   for the technology used by hula hoopers.
                                                                                                                                                                                                                                       a maker.”                                              So, what can managers do to foster that
                                                                                                                                                                                                                                          What dominated her data wasn’t information       sense of inclusiveness people experience at
                                                                                                                                                                                                                                       about skills people learned. Most often, attend-    Maker Faires?
                                                                                                                                                                                                                                       ees described infectious emotions and discovering      “Finding ways to share positive emotional
                                                                                                                                                                                                                                       others’ projects through the creator’s eyes—what    experiences can foster bonding and a sense of
                                                                                                                                                                                                                                       Gorbatâi refers to as emotional contagion and       shared identity within your organization or
                                                                                                                                                                                                                                       empathetic recognition.                             team,” Gorbatâi says. “Even activities that might
                                                                                                                                                                                                                                          Emotional contagion makes people more recep-     seem frivolous but elicit emotion go a long way
                                                                                                                                                                                                                                       tive to learning from diverse participants, while   in revitalizing people’s energy and connection to
                                                                                                                                                                                                                                       empathetic recognition leads them to find com-      each other and to their shared identity.”

                                                                                                                                                                                                                                                                                           tional fees are only disclosed at check-
                                                                                                                                                                                                                                                                                           out—resulted in people spending more
                                                                                                                                                                                                                                                                                           than those shown all-inclusive prices
                                                                                                                                                                                                                                                                                           up front. It’s a particularly effective
                                                                                                                                                                                                                                                                                           strategy for online sales, which in the
                                                                                                                                                                                                                                                                                           past two years have overtaken brick-
                                                                                                                                                                                                                                                                                           and-mortar shopping.
                                                                                                                                                                                                                                                                                              For the experiment, StubHub ran-
                                                                                                                                                                                                                                                                                           domly assigned half of all U.S. users,
                                                                                                                                                                                                                                                                                           who count in the millions, to a hidden
                                                                                                                                                                                                                                                                                           fee structure: Buyers saw only the ticket
                                                                                                                                                                                                                                                                                           list price as they shopped; extra fees
                                                                                                                                                                                                                                                                                           were displayed on the checkout page.
Enjoying positive                                                      TEAM BUILDING
emotional experiences,                                                                                                                                                                                                                                                                     The other half of users saw all-inclusive
including laughs, can                                                                                                                                                                                                                                                                      prices, which included fees and taxes

                                                Emotional Appeal
foster bonding and a sense                                                                                                                                                                                                                               ONLINE SHOPPING                   generally amounting to 15% of the
of shared identity within                                                                                                                                                                                                                                                                  ticket price plus shipping and handling.
your team, says Asst. Prof.
                                                                                                                                                                                                                                                                                              Overall, the StubHub users who
Andreea Gorbatâi.

                                                     How to strengthen organizational bonds                                                                                                                                                           DRIP BUY                             weren’t shown fees until checkout
                                                                                                                                                                                                                                                                                           spent about 21% more on tickets and
                                                                                                                                                                                                                                                                                           were 14% more likely to complete a
                                                                                                                                                                                                                                                                                           purchase compared with those who saw
                                                                      BY LAURA COUNTS
                                                                                                                                                                                                                                              The cunningness of hidden fees               all-inclusive prices from the start.
                                                                                                                                                                                                                                                                                           Those in the hidden-fee group also
                                                                                                                                                                                                                                                          BY MORGAN FOY

                                                                                                                                             PHOTO: YURIY SELEZN EV / A LAM Y STOCK PH OTO
                                                                                                                                                                                                                                                                                           bought pricier tickets.

                                                                                                                                                                                             PHOTO: M4OS PHOTOS / ALA MY STOCK PHOTO
                              In an age of Zoom fatigue, it may be tempting to dispense with                                                                                                                                                                                                  The findings raise questions as to
                              those silly team-building activities that elicit groans at many a staff meeting.                                                                                                                               There’s a reason online ticket sell-          whether consumers have a right to full
                                                                                                                                                                                                                                             ers hit you with those extra fees after       price transparency up front. Tadelis
                                 Yet a focus on pure efficiency may be short-     Andreea Gorbatâi’s longitudinal study of the                                                                                                               you’ve picked your seats and are ready        noted that some governments have reg-
                              sighted, especially if your team or organization    eclectic Maker movement, a collective identity                                                                                                             to click “buy.”                               ulated this behavior—Canada, for exam-
                              struggles with finding a shared purpose. New        that began with electronics hackers and grew to                                                                                                               Pure profit.                               ple, banned drip pricing for ticket sales.
                              research finds that emotion sharing—and not just    include people with seemingly nothing in com-                                                                                                                 A massive field experiment by Prof.           “I can’t think of a good reason to
                              information sharing—is a powerful yet often over-   mon—from crafters and physicists to do-it-your-                                                                                                            Steven Tadelis with the online ticket         allow this practice in any country as
                              looked part of building group identity.             selfers of all stripes.                                                                                                                                    marketplace StubHub concluded that            the harm to consumers is clear from our
                                 That’s according to Haas Assistant Prof.            Pre-pandemic, Maker Faires attracted tens of                                                                                                            so-called “drip pricing”—whereby addi-        study,” Tadelis says.

                                                                                    The Takeaway                                                                                                                                                                                               The Takeaway

     8                                                                              One way to build staff cohesion is through authentic
                                                                                    opportunities for collective emotional experiences and
                                                                                    creating shared meaning—conferences, festivals, trade
                                                                                    shows, or team activities away from everyday work.
                                                                                                                                                                                                                                                                                               “Websites that incorporate ‘hidden fees’ that are
                                                                                                                                                                                                                                                                                               only revealed at checkout are making more money
                                                                                                                                                                                                                                                                                               than they would if they chose to honestly display
                                                                                                                                                                                                                                                                                               all fees upfront,” says Prof. Steven Tadelis.
                                                                                                                                                                                                                                                                                                                                                      9
Berkeley HAAS                                                                                                                                                                                                                                                                                                                                      SPRING 2021
Haas Women in Washington - SPRING 2021 - University of California, Berkeley
$30 million for this initiative, but more support is
                                                                                                                                                                                                                                      needed to ensure Haas is a leading destination for
                                                                                                                                                                                                                                                                                                               COMPANY CULTURE
                                                                                                                                                                                                                                      entrepreneurial thinkers and leaders worldwide.
Rendering of Haas’ new                                                                                                                                                                                                                    Renovation will start later this year on an Entre-
Entrepreneurship Hub,
slated for renovation
later this year.
                                                                                                                                                                                                                                      preneurship Hub (shown left), located in a historic
                                                                                                                                                                                                                                      Julia Morgan building adjacent to Haas. The three-
                                                                                                                                                                                                                                      floor Hub, for which Haas is still seeking a $10
                                                                                                                                                                                                                                                                                                          INFECTION
                                                                                                                                                                                                                                      million naming donation, will feature spaces to
                                                                                                                                                                                                                                      gather, work, and learn while celebrating the entre-
                                                                                                                                                                                                                                      preneurial achievements (and Beyond Yourself atti-
                                                                                                                                                                                                                                      tude) of the Haas community. A generous donation
                                                                                                                                                                                                                                                                                                            POINT                                                #HAASOME

                                                                                                                                                                                                                                      from Brett Wilson, MBA 07, for example, named                      Narcissism goes viral
                                                                                                                                                                                                                                      the Hub’s TubeMogul kitchen, after the business
                                                                                                                                                                                                                                      he launched as a student and later sold to Adobe.
                                                                                                                                                                                                                                                                                                               BY MICKEY BUTTS
                                                                                                                                                                                                                                          The largest room will be called the Castaneda
                                                                                                                                                                                                                                      Innovation Forum in honor of the parents of Elena
       #HAASOME                                                                                                                                                                                                                       Gomez, BS 91, who pledged $2 million to the                Narcissistic leaders—you know the
                                                                                                                                                                                                                                      building. Gomez, the CFO of Zendesk, wanted to             type. Their exploitative, self-ab-
                                                                                                                                                                                                                                      celebrate their hard work as immigrants from El            sorbed behavior sets them apart from
                                                                                                                                                                                                                                      Salvador and their dedication leading to her being         the charismatic, transformational
                                                                                                                                                                                                                                                                                                                                                             PLANT FUTURES
                                                                                                                                                                                                                                      a first-generation college student and talented busi-      leaders they can be confused with.
                                                                                                                                                                                                                                      ness executive. “My parents didn’t have a lot of              And now research shows they can                        A new student-led
                                                                                                                                                                                                                                      money or education, but they believed you have to          infect organizational culture like a                     initiative caters to
                                                                                                                                                                                                                                      give your kids the best education possible,” Gomez         virus, leading to dramatically lower                       plant-based food
                                                                                                                                                                                                                                      says. “My success and my ability to give this gift are     levels of collaboration and integrity                     entrepreneurship.
                                                                                                                                                                                                                                      directly due to their support.”                            at all levels—even after they’re gone.                    The two-part pro-
                                                                                                                                                                                                                                          To understand how best to expand learning                 “When narcissistic leaders under-                     gram, a collabora-
                                                                      PROBLEM-SOLVING
                                                                                                                                                                                                                                      opportunities, Shrader and a colleague interviewed         mine collaboration, they reduce the                     tion among Berkeley

                                           Training Innovators
                                                                                                                                                                                                                                      students and stakeholders to identify their greatest       effectiveness of the organization,”                      Haas, the School of
                                                                                                                                                                                                                                      needs. Haas is now seeking $17 million in endowed          says Prof. Jennifer Chatman.                              Public Health, the
 PRESTIGIOUS PRIZE
                                                                                                                                                                                                                                      funds to support programming that will include,               Chatman and colleagues conducted                     College of Engineer-
  Professor Nicolae                                                                                                                                                                                                                   among other offerings, summer stipends so stu-             experiments and a field study that                       ing, and the Berke-
   Gârleanu won the                                                                                                                                                                                                                   dents can focus on startups.                               included CEOs of major companies                         ley Food Institute,
Ross Prize in Finan-
                                               New initiative will make Haas a campus gateway                                                                                                                                             On the faculty front, the new virtual Entre-           and found that narcissists don’t insti-                     offers a sympo-
  cial Economics for                                    for entrepreneurial thinking                                                                                                                                                  preneurship and Innovation Group will enhance              tutionalize collaborative and ethical                    sium and the Plant
 a paper, “Over-the-                                                                                                                                                                                                                  cross-disciplinary thought leadership by uniting           behaviors. They often choose not to                      Futures Innovation
  Counter Markets,”                                                                                                                                                                                                                   Haas faculty from different groups who conduct             support pay equity or promote team-                      Challenge Lab. The
                                                                     BY CAROL GHIGLIERI
 that he co-authored                                                                                                                                                                                                                  research in innovation and entrepreneurship. The           work and civility, for example. And                       latter allows stu-
    with colleagues                                                                                                                                                                                                                   group is led by Prof. Toby Stuart, the Leo Helzel          they often fail to sanction employees                    dents to complete a
  from Stanford and      If the pandemic has taught us anything, it’s that entrepreneurial                                                                                                                                            Chair in Entrepreneurship and Innovation.                  who violate shared norms.                                hands-on learning
Copenhagen Business                                                                                                                                                                                                                       “Having Toby is an asset,” says Rene Kern, BS 86,         Yet don’t bold leaders like Tesla’s                  project mentored by
  school. The paper,
                         thinkers are desperately needed to help society solve its greatest challenges.                                                                                                                               a Haas donor and member of the UC Berkeley Foun-           Elon Musk or Apple’s Steve Jobs need                    leading plant-based
published in Econo-      Haas students created a zero-waste startup to fill recycled plastic bottles with                                                                                                                             dation. “He can bring entrepreneurship to life by          to be narcissistic to launch visionary                   industry partners.
metrica, was lauded                                                                                                                                                                                                                   bringing in practitioners who have successful track        ventures? Definitely not, says Chat-
                         hand sanitizer they distributed for free to low-income communities. Alumni

                                                                                                                                       RENDERI NG: FERN AU & HA RTM AN ARCH ITECTS, INC .
  for “transforming                                                                                                                                                                                                                   records at company building.” Kern has pledged $3          man. “You can have confidence and be                            LEARN MORE:
  our understanding      spearheaded ambitious efforts to deliver medical goods worldwide. They’ve                                                                                                                                    million to endow one of four new faculty chairs in         innovative and not be self-involved,                     plantfuturesberkeley.com
    of liquidity and                                                                                                                                                                                                                  entrepreneurship. The other three chairs have been         exploitative of others, and risk-insen-
                         succeeded because Haas taught them how to bring game-changing ideas to life,

                                                                                                                                                                                            I LLUSTRATION : LERA DA NILOVA /ISTOC K
price determination                                                                                                                                                                                                                   endowed by Michael Grimes, BS 87 (electrical engi-         sitive,” she says. “Bill Gates is a per-
in over-the-counter      whether as entrepreneurs via startups or as intrapreneurs in their companies.                                                                                                                                neering and computer science); Mark Robinson, BA           fect countervailing example.”
   markets in which                                                                                                                                                                                                                   88 (history and political science); and DK Kim, Par-          A board can mitigate damage from
    many financial          Showing students how to apply classroom lessons      strategic pipeline of programs,” she says.                                                                                                           ent 94, 98, and Dick Blum, BS 57, MBA 59.                  a toxic leader by basing a portion of
  assets are traded.”    to entrepreneurial endeavors is the work of Rhonda         Now, a new Entrepreneurship and Innovation                                                                                                            “Berkeley offers a unique ecosystem by virtue          compensation on the development of
  Gârleanu shared a      Shrader, MBA 96, who’s directed the Entrepreneur-       Initiative seeks to enhance Haas’ efforts on three                                                                                                   of its rich tradition in research and sciences and         their people and rewarding collabo-
   $50,000 prize for     ship Program since 2016. Shrader coordinated 80         fronts: creating a centralized hub for all of cam-                                                                                                   its presence in Silicon Valley,” Kern says. “These         ration, Chatman says.
        his work.        campus programs and clubs to help students acquire      pus, expanding programming, and endowing fac-                                                                                                        incredible assets will allow Haas to establish a pre-
                         practical skills. “The big thing was about building a   ulty thought leadership. Haas has raised nearly                                                                                                      eminent position in entrepreneurship.”

                                                                                   CONNECTIONS                                                                                                                                                                                                                                    CONNECTIONS
                                                                                   To donate to the Initiative, visit haas.berkeley.                                                                                                                                                                                              Chatman conducted her
                           The Takeaway                                                                                                                                                                                                                                                        The Takeaway

  10                                                                                                                                                                                                                                                                                                                                                                    11
                                                                                   edu/ehub. Interested in making the $10 million                                                                                                                                                                                                 research along with
                           The Entrepreneurship and Innovation                                                                                                                                                                                                                                 Leaders high on the narcissism
                                                                                   naming donation for the Entrepreneurship Hub?                                                                                                                                                                                                  Stanford’s Charles O’Reilly,
                           Initiative will enhance Haas’                                                                                                                                                                                                                                       scale are less collaborative and
                                                                                   Contact Howie Avery, assistant dean & chief                                                                                                                                                                                                    MBA 71, PhD 75, and
                           reputation as a primary destination for                                                                                                                                                                                                                             ethical—as are the cultures of
                                                                                   development officer: howieavery@berkeley.edu.                                                                                                                                                                                                  Bernadette Doerr, MS 11.
                           entrepreneurial thinkers and leaders.                                                                                                                                                                                                                               the organizations they lead.
Berkeley HAAS                                                                                                                                                                                                                                                                                                                                                         SPRING 2021
Haas Women in Washington - SPRING 2021 - University of California, Berkeley
Jason Bellet, BS 14; Terrell
                                                                     Baptiste, MBA 20; and Indu
BY KRYSTEN CRAWFORD                                                  Subaiya, MBA 06; are three
                                                                     of many Haas alumni shaping
                                                                     paths to greater wellness.

PHOTOS BY
   Christina Gandolfo

    EALTH
  H
   INFLUE NCERS         Haas alumni accelerate healthcare’s future
Haas Women in Washington - SPRING 2021 - University of California, Berkeley
FOR 200
                                                                                  Others are working to streamline features of                                           also means developing new economic models,             Real-world data is a byproduct of the boom-
                                                                                  healthcare that often hinder innovation: payment                                       including payment structures based on successful   ing digital health market. Seed fund Rock Health
                                                                                  models, organizational structures, and regula-                                         patient outcomes.                                  estimates that venture capitalists poured a record

    YEARS,
                                                                                  tions. In interviews, Haas alumni reveal a shared                                                                                         $14 billion last year into U.S. digital health com-
                                                                                  mission: to make medical care—a $3.8 trillion                                                                                             panies, a 72% jump from the previous peak in
                                                                                  business in the U.S. in 2019, according to the
                                                                                                                                                                         “WHEN PATIENTS FALL OFF                            2018. McKinsey & Company valued the global
                                                                                  Centers for Medicare & Medicaid Services—more                                          THE RADAR, WE CAN FIND                             digital health market at $350 billion in 2019—
                                                                                  affordable, accessible, and scalable.                                                                                                     before the pandemic.
                                                                                                                                                                          OUT WHAT HAPPENED FROM                               Terrell Baptiste, MBA 20, thinks about real-world
                                                                                  Using ‘real-world’ data                                                                 FAMILIES OR THE COMMUNITY                         data and its promise in another context: clinical
                                                                                  In Ohio’s Montgomery County, death rates from opi-                                                                                        drug trials. Last year, he joined Gilead Sciences as a
                                                                                  oid overdoses have been among the nation’s high-
                                                                                                                                                                          OR IF THEY SHOWED UP FOR                          senior manager to identify ways the pharmaceutical
                                                                                  est and are surging anew amid the pandemic. It’s                                        WORK FROM EMPLOYERS.”                             company can use information from nontraditional
                       the stethoscope has been the workhorse of physi-           also the test site for an ambitious effort by Alpha-
                       cal exams. But a stethoscope is only as good as the        bet-owned Verily Life Sciences to reinvent addiction
                       human ear listening to it. How could it be adapted         treatment and recovery. Called OneFifteen—named
                       for the digital age? wondered Jason Bellet, BS 14,         for the country’s average daily opioid death rate
                       and two Berkeley friends: Connor Landgraf, BS              of 115 people in 2017—it features state-of-the-art
                       13, MEng 14 (bioengineering), and Tyler Crouch,            medical and residential facilities on a 4.5-acre cam-
                       BS 14 (mechanical engineering).                            pus in Dayton.
                           In 2013, the trio co-founded Eko Devices and,             Treating substance abuse, with its sky-high
                       with support from Berkeley’s SkyDeck Accelera-             relapse rates, is difficult for many reasons, says
                       tor Program, developed a $349 stethoscope that             Rebecca Messing Haigler, MBA/MPH 09, Verily’s
                       can amplify heart and lung sounds 40 times better          health economics lead and recently announced
                       than its analog cousin. Connected software gener-          chief development officer of portfolio company
                       ates sound waveforms and electrocardiograms that           Onduo. Doctors lack high-quality information
                       allow some 80,000 clinicians to “see what they             about how different patients respond to various
                       hear” and share recordings as needed. Last fall,           treatments, and little or no coordination exists
                       the Oakland-based company, with 115 employ-                among clinicians, communities, and families. Pay-
                       ees, closed on $65 million in Series C funding             ment models are also broken, she says. Patients
                       and partnered with AstraZeneca to develop new              don’t receive the comprehensive care they need in
                       screening tools.                                           part because insurers typically pay for services up
                           “Heart disease is the No. 1 killer worldwide,          front—not based on outcomes.
 JASON BELLET, BS 14
                       and there are millions of people with undiagnosed             OneFifteen’s model, which Messing Haigler
      Co-Founder,
                       cardiac problems that can now be detected with             helped design, relies on a comprehensive care con-
      Eko Devices
                       greater accuracy in 45 seconds during a routine            tinuum powered by a technology infrastructure
                       checkup,” says Bellet. Early last year, the FDA            that enables better data collection throughout the
                       cleared Eko’s algorithm for detecting heart mur-           treatment and recovery process, from data sources
                       murs and atrial fibrillation; a separate algorithm         including state and county programs, mobile apps,
                       received an FDA emergency use authorization                family surveys, employer updates, and the crimi-
                       to help clinicians detect a weak heart pump in             nal justice system, among others.
                       COVID-19 patients, an especially high-risk group.             “When patients fall off the radar, we can find
                           Today, Eko is more than a device maker. It’s a soft-   out what happened from families or the commu-
                       ware and data-science company aiming to develop            nity or if they showed up for work from employ-
                       artificial intelligence-powered screening tools that       ers,” says Messing Haigler. This could lead to
                       can detect a range of health conditions in 60 seconds      improvements in treatment and at a faster rate.
                       during a routine checkup, says Bellet. His team is            Messing Haigler is describing a relatively new
                       also building a virtual primary care platform.             phenomenon in healthcare known as “real-world”
                          Haas community healthcare innovations like              data. The term essentially refers to the multitude      PHOTOS: CH RISTINA GA NDOLFO
                       Eko are booming. From startups to Fortune 500              of health-related information generated outside
                       companies, venture capital firms to nonprofits,            of a doctor’s office. Think voluntary user health
                       alumni are leading monumental shifts in health-            surveys, fitness trackers—even insurance claims.
                       care—often backed by huge sums of money. Some              Verily’s mission is to combine this data (with
                                                                                                                                                                                                                                                                                       REBECCA MESSING
                       entrepreneurs, like Bellet, are focused on improv-         member consent and rigorous privacy policies)
                                                                                                                                                                                                                                                                                     HAIGLER, MBA/MPH 09
                       ing preventative care and disease diagnosis or             with machine learning to better prevent, detect,
                                                                                                                                                                                                                                                                                       Health Economics
                       helping to develop new drugs and treatments.               and manage diseases. For Messing Haigler, it
                                                                                                                                                                                                                                                                                         Lead, Verily

                                                                                    CONNECTIONS
                                                                                    Rebecca Messing Haigler, MBA/MPH 09, worked

  14                                                                                with Tony Duynstee, MBA 09, on the development
                                                                                    of OneFifteen. Duynstee is VP of strategic oper-
                                                                                    ations at Alexandria Real Estate Equities, the
                                                                                    treatment center’s real estate developer.
                                                                                                                                                                                                                                                                                                  15
Berkeley HAAS                                                                                                                                                                                                                                                                                   SPRING 2021
Haas Women in Washington - SPRING 2021 - University of California, Berkeley
sources to speed the development and approval of                                                                                                         practices of leaders at all levels of the organiza-    colon cancer—one that, according to a recent study   “I’M HOPEFUL [REAL-WORLD
                     new cancer drugs. A 2016 federal law mandated                                                                                                            tion,” she says. “Do you want to include more          conducted at Stanford’s Veterans Affairs Palo Alto
                     that the FDA incorporate data from outside tradi-                                                                                                        Black and brown individuals in program design?         Health Care System, successfully detects pre-can-    EVIDENCE METHODS] WILL
                     tional clinical trials into its approval process for                                                                                                     Great. How are you incentivizing that from a           cerous polyps. It works by searching for extremely   HELP USHER IN MORE
                     pre-market pharmaceuticals. It’s early days for the                                                                                                      leadership standpoint?”                                rare abnormal dysplastic epithelial cells and tiny
                     FDA-developed framework for using real-world                                                                                                                                                                    traces of DNA that tumors shed. Other tests based    EFFECTIVE, REALISTIC, AND
                     data, but the impact will be revolutionary: Trials                                                                                                       Supercharging blood tests                              on the company’s technology are already sold in      DIVERSE WAYS TO CONDUCT
                     can take eight years or more to conduct and are                                                                                                          Colorectal cancer is the second-leading cause of       Asia. CellMax plans to seek FDA approval before
                     limited in scope because they depend on volun-                                                                                                           cancer deaths in the U.S., yet one-third of adults     introducing the screening to the U.S. next year.     CLINICAL TRIAL RESEARCH.”
                     teers—who are often white, educated, and retired.                                                                                                        age 50 to 75 don’t get screened, according to the         “The only real cure for cancer is early detec-
 TERRELL BAPTISTE,       With the combination of real-world data and                                                                                                          Centers for Disease Control (CDC). Newer tests         tion,” says Sharan, who started CellMax Life         is part of a growing market for non-invasive “liq-
      MBA 20         digital health technologies, such as smartphones,                                                                                                        using stool samples collected at home haven’t          nearly a decade ago after his mother was diag-       uid biopsies” that use advanced genomic sequenc-
   Senior Manager,   clinical-trial volunteers could participate from                                                                                                         changed this.                                          nosed with late-stage, untreatable cancer and his    ing and machine learning to identify diseases and
   Gilead Sciences   home, allowing for more frequent monitoring of                                                                                                               Atul Sharan, MBA 91, has a solution. His com-      wife with a malignant breast tumor shortly after     potentially tailor treatments to individuals. Bill
                     a possible treatment and thus faster discoveries.                                                                                                        pany, CellMax Life, has developed what he says         being cleared by a negative mammogram. His           Gates and Jeff Bezos, for example, poured over
                     FDA regulators could also monitor a drug’s effects                                                                                                       is the first blood test for preventive screening for   company, which has raised more than $50 million,     $100 million into liquid-biopsy company Grail,
                     over a longer period of time.                                                                                                                                                                                                                                        which sold last year for $8 billion.                       LAUREN DUGARD
                         For Baptiste, using real-world data in clinical                                                                                                                                                                                                                                                                           THOMAS, MBA/MPH 17
                     trials has another crucial advantage. Marginalized                                                                                                                                                                                                                   Reinventing autism care                                    Senior Manager,
                     paitients—often an afterthought in healthcare                                                                                                                                                                                                                        One in 54 children in the U.S. were diagnosed with            Enterprise
                     generally, and drug development specifically—can                                                                                                                                                                                                                     autism in 2016, according to the CDC. Twenty               Innovation, Blue
                     participate in studies and benefit from new ways                                                                                                                                                                                                                     years ago, it was just one in 150. No surprise, then,    Shield of California
                     of working that have arisen from the pandemic.                                                                                                                                                                                                                       that waitlists for therapy can run up to six months.
                         “Clinical trials measure effectiveness at a spe-                                                                                                                                                                                                                    Soaring demand for autism care isn’t the only
                     cific point in time and for a patient population                                                                                                                                                                                                                     problem, says Jia Jia Ye, MBA/MPH 11. Kids often
                     who may not be the only ones actually benefit-                                                                                                                                                                                                                       need multiple forms of therapy—behavioral, speech,
                     ing from it,” says Baptiste, whose work includes                                                                                                                                                                                                                     and physical—for up to 30 hours a week. Specialists
                     volunteer research on behalf of sickle cell disease                                                                                                                                                                                                                  often work independently, making it time-consum-
                     patients, the majority of whom are African Ameri-                                                                                                                                                                                                                    ing and frustrating for parents to coordinate care and
                     can. “Real-world evidence attempts to fill the large                                                                                                                                                                                                                 navigate labyrinthine insurance rules.
                     gaps in knowledge about who could benefit from                                                                                                                                                                                                                          Ye’s groundbreaking solution is to combine
                                                                            PHOTOS (FROM TOP LEFT): CHRISTINA GANDOLFO (2); COURTESY LAUREN DUGA RD THOMAS; RYA N CRESTA NI

                     a new treatment. I’m hopeful this will help usher                                                                                                                                                                                                                    expertise and payments at a single locale. A year
                     in more effective, realistic, and diverse ways to                                                                                                                                                                                                                    ago, she co-founded Springtide Child Develop-
                     conduct clinical trial research.”                                                                                                                                                                                                                                    ment with $18 million in Series A funding. Now
                                                                                                                                                                                                                                                                                          with three clinics—two in Connecticut and one
                     Closing gaps in care                                                                                                                                                                                                                                                 opening this summer in Massachusetts—the
                     Lauren Dugard Thomas, MBA/MPH 17, works to                                                                                                                                                                                                                           startup employs specialists from across disci-
                     address health inequities by improving the inno-                                                                                                                                                                                                                     plines, coordinates appointments, and handles
                     vation process itself. At Blue Shield of Califor-                                                                                                                                                                                                                    insurance claims. Ye says consolidation enables an
                     nia, where she’s a senior manager in enterprise                                                                                                                                                                                                                      unprecedented degree of standardization in care.
                     innovation, she empowers all employees to gen-                                                                                                                                                                                                                          Just as important: Ye and her team can quantify
                     erate entrepreneurial solutions, like with inter-                                                                                                                                                                                                                    patient progress, which smaller operations can’t
                     nal design challenges à la Shark Tank. She also                                                                                                                                                                                                                      do for lack of money and data. “When you take an
                     ensures that underserved populations are fac-                                                                                                                                                                                                                        interdisciplinary approach to autism treatment,
                     tored into every business decision, big or small.                                                                                                                                                                                                                    you see rapid improvement in kids’ progress,”
                        Dugard Thomas says that for companies com-                                                                                                                                                                                                                        says Ye. “And you can show it through consistent
                     mitted to reducing inequities, “the first step is                                                                                                                                                                                                                    outcome metrics at all levels of care.”
                     educating internal decision makers about dispari-
                     ties and making it clear that maintaining the sta-
                                                                                                                                                                               ATUL SHARAN, MBA 91
                                                                                                                                                                                                                                                                                          Advancing women’s health
                     tus quo will only widen the gaps.”                                                                                                                                                                                                                                   For Amy Fan, MBA/MPH 19, improving care is
                                                                                                                                                                               Owner, CellMax Life
                        Since the increase in national awareness of                                                                                                                                                                                                                       about making birth control more accessible and
                     racial injustice last summer, she’s seen a spike in                                                                                                                                                                                                                  affordable for U.S. women—especially the 60%
                     LinkedIn job listings for experts in social deter-                                                                                                                                                                                                                   who are on Medicaid, uninsured, or underin-                  AMY FAN,
                     minants of health. Even so, Dugard Thomas says                                                                                                                                                                                                                       sured—to get birth control. She co-founded                  MBA/MPH 19
                     real change goes beyond budgets and head counts.                                                                                                                                                                                                                     Twentyeight Health in late 2018 to offer online              Co-Founder,
                        “It’s about the mindset, expectations, and                                                                                                                                                                                                                        reproductive services.                                    Twentyeight Health

                                                                                                                                                                                The Takeaway

  16                                                                                                                                                                            Overcoming racial and other inequities in
                                                                                                                                                                                healthcare requires all parts of a business, from
                                                                                                                                                                                top to bottom, to factor these gaps into every
                                                                                                                                                                                decision around innovation.
                                                                                                                                                                                                                                                                                                                                                              17
Berkeley HAAS                                                                                                                                                                                                                                                                                                                                               SPRING 2021
“WHEN                                                                                                                                                                                                                                                                                                              fall, the startup landed $5.1 million in seed funding.
                                                                                                                                                                                                                                                                                                                       “So much of healthcare is focused on people
YOU TAKE                                                                                                                                                                                                                                                                                                           with a high ability to pay,” says Fan. “For low-in-
AN INTER-                                                                                                                                                                                                                                                                                                          come patients, and for women of color especially,
                                                                                                                                                                                                                                                                                                                   we put so many burdens on them without trying
DISCIPLINARY                                                                                                                                                                                                                                                                                                       to understand how we can make it easier for them
APPROACH                                                                                                                                                                                                                                                                                                           to access healthcare.”

TO AUTISM                                                                                                                                                                                                                                                                                                          Powering innovation
TREATMENT,                                                                                                                                                                                                                                                                                                         Fan attributes much of Twentyeight Health’s success
                                                                                                                                                                                                                                                                                                                   to networks of healthcare insiders—within Haas and
YOU SEE RAPID
IMPROVEMENT
                                                                                                                                                                                                                                                                        STREAMLINING                               beyond—who have offered advice and opened doors.
                                                                                                                                                                                                                                                                                                                       They include Juan José Orellana, BS 95, a Los

IN KIDS’
                                                                                                                                                                                                                                                                          EMERGENCY                                Angeles-based strategy consultant who’s held

PROGRESS.”
                                                                                                                                                                                                                                                                           SERVICES                                senior roles within startups and the Fortune 200
                                                                                                                                                                                                                                                                                                                   company Molina Healthcare. He helped Fan explore
                                                                                                                                                                                                                                                                                                                   the potential of expanding Twentyeight Health
                                                                                                                                                                                                                                                                Pre-hospital care, which includes
                                                                                                                                                                                                                                                                                                                   through partnerships with payers and providers.
                                                                                                                                                                                                                                                                everything a patient experiences from
                                                                                                                                                                                                                                                                                                                       “To innovate in healthcare, you need to be part of
                                                                                                                                                                                                                                                                911 call to ER arrival, can signifi-
                                                                                                                                                                                                                                                                                                                   an ecosystem,” Orellana says. “You need to be able
                                                                                                                                                                                                                                                                cantly impact survival rates. And a lot
                                                                                                                                                                                                                                                                                                                   to tap into a value network that can facilitate col-
                                                                                                                                                                                                                                                                is broken with the system, says Tanir                                                                                 JUAN JOSÉ
                                                                                                                                                                                                                                                                                                                   laboration, accelerate learning, and provide match-
                                                                                                                                                                                                                                                                Ami, MBA 01 (shown above).                                                                                          ORELLANA, BS 95
                                                                                                                                                                                                                                                                                                                   making for your organization’s needs and offerings.”
                                                                                                                                                                                                                                                                                                                       Indu Subaiya, MBA 06, has made a career out                 Strategy Consultant
                                                                                                                                                                                                                                                                TOP OF LIST: Poor coordination among
                                                                                                                                                                                                                                                                                                                   of fostering ecosystems in healthcare. First as a
                                                                                                                                                                                                                                                                paramedics, police, and firefighters.
                                                                                                                                                                                                                                                                                                                   co-founder of Health 2.0 and now as president
                                                                                                                                                                                                                                                                “Everyone is siloed,” she says. “There’s
                                                                                                                                                                                                                                                                                                                   of Catalyst @ Health 2.0, she’s organized con-
                                                                                                                                                                                                                                                                no integration of communication, data
                                                                                                                                                                                                                                                                                                                   ferences, open-innovation challenges, and pilot
                                                                                                                                                                                                                                                                collection, or practices.” By law in many
                                                                                                                                                                                                                                                                                                                   programs to introduce new ideas to deep-pock-
                                                                                                                                                                                                                                                                states, paramedics can take patients
                                                                                                                                                                                                                                                                                                                   eted stakeholders. Too often, she says, healthcare
                                                                                                                                                                                                                                                                only to hospitals or skilled nursing
                                                                                                                                                                                                                                                                                                                   entrepreneurs can’t get the traction to scale up.
                                                                                                                                                                                                                                                                facilities, not to a primary care pro-
                                                                                                                                                                                                                                                                                                                   “My primary mission is to introduce groundbreak-
                                                                                                                                                                                                                                                                vider or psychiatric health facility. It’s

                                                                                                                                                               PHOTOS (F ROM TOP LEF T): SH OEY SIN DEL; COURTESY O F JUAN JOSÉ ORELLANA; CHRISTINA GANDOLFO
                                                                                                                                                                                                                                                                                                                   ing technology to the world,” she says.
                                                                                                                                                                                                                                                                one of the reasons why emergency rooms
                                                                                                                                                                                                                                                                                                                       In the last 15 years, Subaiya’s conference plat-
                                                                                                                                                                                                                                                                are strained, says Ami.
                                                                                                                                                                                                                                                                                                                   form has debuted hundreds of startups, including
                                                                                                                                                                                                                                                                   As CEO of the CARESTAR Founda-
                                                                                                                                                                                                                                                                                                                   Teladoc, a big provider of telehealth services, and
                                                                                                                                                                                                                                                                tion, Ami awards grants supporting
                                                                                                                                                                                                                                                                                                                   Livongo Health, which helps patients manage dis-
                                                                                                                                                                                                                                                                innovations in emergency response
                                                                                                                                                                                                                                                                                                                   eases digitally. Last year, Teladoc bought Livongo
                                                                                                                                                                                                                                                                and trauma care throughout Califor-
                                                                                                                                                                                                                                                                                                                   for $18.5 billion. She and her team have also coor-
                                                                                                                                                                                                                                                                nia. Last year, for example, CARESTAR
                                                                                                                                                                                                                                                                                                                   dinated more than 90 contests, with $9 million in
                                                                                                                                                                                                                                                                awarded $450,000 for a pilot program
                                                                                                                                                                                                                                                                                                                   total prize money.
                                                                                                    JIA JIA YE, MBA/MPH 11                                                                                                                                      treating opioid overdoses in Contra
                                                                                                                                                                                                                                                                                                                       One competition, worth $100,000, drew scien-
                                                                                                     Co-Founder, Springtide                                                                                                                                     Costa County that coordinates patient
                                                                                                                                                                                                                                                                                                                   tists from 18 countries in a race to build a better            INDU SUBAIYA, MBA 06
                                                                                                       Child Development                                                                                                                                        care among emergency medical ser-
                                                                                                                                                                                                                                                                                                                   COVID outbreak prediction model using govern-                       President,
                                                                                                                                                                                                                                                                vices, hospitals, and public health
                                                                                                                                                                                                                                                                                                                   ment data and millions of Facebook user surveys                Catalyst @ Health 2.0
                                                                                                                                                                                                                                                                agencies. CARESTAR has also funded
                                                                                                                                                                                                                                                                                                                   tracking virus symptoms. The CDC has incorpo-
                                                                                                                                                                                                                                                                efforts to empower first-responders,
                                                                                                                                                                                                                                                                                                                   rated the winning model, developed by a Georgia
                                                                                                                                                                                                                                                                for example allowing them to dis-
                   Her model is straightforward: Women com-                on underserved women, and it’s often the only                                                                                                                                                                                           Tech team, into its pandemic forecasting—and
                                                                                                                                                                                                                                                                pense certain medications or giving
                plete an evaluation with a board-certified physi-          player accepting Medicaid in the states where it’s                                                                                                                                                                                      found it to be among the top five most accurate
                                                                                                                                                                                                                                                                them the authority to take patients to
                cian via a combination of asynchronous and live            active. It also partners with Bedsider’s Contra-                                                                                                                                                                                        prediction tools. “That’s a phenomenal example
                                                                                                                                                                                                                                                                a sobriety center, primary doctor, or
                telemedicine—including phone and direct mes-               ceptive Access Fund to provide a year of free birth                                                                                                                                                                                     of open innovation,” says Subaiya.
                                                                                                                                    P HOTO: C HRIS SOREN SEN

                                                                                                                                                                                                                                                                homeless shelter.
                sage—for a prescription for birth control pills,           control for uninsured women.                                                                                                                                                                                                                Innovation, accessibility, scaling up—just as
                                                                                                                                                                                                                                                                   “The problems in pre-hospital care are
                rings, patches, or shots. A monthly supply of pills           Twentyeight Health’s expansion has been gradual                                                                                                                                                                                      in medicine, different balms can help to heal our
                                                                                                                                                                                                                                                                not easy to solve,” says Ami. “But innova-
                starts at $18; for insured women, only co-pay              as the company navigates state-by-state Medicaid                                                                                                                                                                                        healthcare system. And the Berkeley Haas commu-
                                                                                                                                                                                                                                                                tion is happening.”
                fees (typically $0) apply. Twentyeight Health is           rules, but today, the company operates in nine states,                                                                                                                                                                                  nity is shaping countless paths to greater wellness
                the only online reproductive platform focused              including New York, North Carolina, and Florida. Last                                                                                                                                                                                   for everyone.

                                                                                                                                                                                                                                                               CONNECTIONS                                           CONNECTIONS
                                             The Takeaway                                                                                                                                                                                                      Amy Fan, MBA/MPH 19, credits Haas alumni and          Indu Subaiya, MBA 06, says William Rosenzweig’s lessons

  18                                         Consumer technologies have the potential
                                             to not only improve daily health behaviors
                                             but also advance disease detection and
                                             individualized treatments.
                                                                                                                                                                                                                                                               faculty for helping her navigate healthcare’s
                                                                                                                                                                                                                                                               landscape. Aaron Schwartz, MBA 10, opened up his
                                                                                                                                                                                                                                                               network of investors after interviewing her for a
                                                                                                                                                                                                                                                               scholarship. “I try to pay it forward,” says Fan.
                                                                                                                                                                                                                                                                                                                     in social entrepreneurship inspired her work raising
                                                                                                                                                                                                                                                                                                                     awareness about health disparities and overlooked
                                                                                                                                                                                                                                                                                                                     healthcare issues, like veteran suicide, eating disorders,
                                                                                                                                                                                                                                                                                                                     and maternal health for Black women.
                                                                                                                                                                                                                                                                                                                                                                                             19
Berkeley HAAS                                                                                                                                                                                                                                                                                                                                                                               SPRING 2021
THE FONT
DETECTIVE
 Thomas Phinney,
    MBA 03,
 UNCOVERS                                                   DID YOU KNOW?
                                                       Though Phinney concedes that
                                                          the definitions of “font” and

 FORGERIES
                                                         “typeface” are not universally
                                                             agreed upon by the font
                                                       community, most concur that a
                                                        typeface is one or more related
                                                           fonts of a family. So Calibri
                                                          (regular), Calibri italic, and

         and solves
                                                      Calibri bold are all fonts under the
                                                       umbrella of the Calibri typeface.
                                                              But the two terms are
                                                          often used interchangeably.

MODERN-DAY
       CRIMES
 BY NANCY DAVIS KHO   Illustration by Derek Brahney
homas Phinney was working as          as one’s performance on creative cognitive tasks          Thomas Phinney, MBA 03, is
                                                  the product manager in Adobe          after reading.                                            the world’s foremost forensic
                                                                                                                                                  font expert, capable of dating
                                                  Systems’ fonts group when his             Type design, a craft that blends art and science,
                                                                                                                                                  and identifying fonts and the
                                                  team received a request from an       is like fashion or furniture, says Phinney, himself a     technology used to print them.
                                                  attorney about a suspected will       type designer. “While true innovation is rare, peo-
                                                  forgery. The lawyer wondered          ple consistently come up with variations on existing
                                                  whether the fonts in which the        themes or combine existing elements in new ways.”
                                                  disputed document was typed               He points to the ScienceGothic.com site, which
                                                  might provide a clue. “I was the      displays an open-source, dynamic typeface he’s
                                                  only one in the group to say, ‘Hey,   been working on with funding from Google. Users
                                                  that sounds cool!’” says Phinney.     can quickly change the weight, width, contrast,
                                                     Using a digital microscope and     and slant of the font to achieve different-looking
                                                  counting individual pixels, Phin-     results, all while still staying within the Science
                                                  ney noticed speckles of stray ink     Gothic family—something that would require
                                                  around each letter and “wicking,”     200+ fonts to achieve using traditional methods.
                                                  or bleeding, of ink along the paper   “It’s proof that there’s still so much new you can
                                                  fibers. He deduced that the docu-     do with fonts,” says Phinney.
                                ment had been printed on an early inkjet printer
                                at 300 dots per inch (dpi). “There was one small        TURNING UP THE
                                problem,” says Phinney. “That type of printer           ‘INTELLECTUAL SIMMER’
                                didn’t exist in 1983,” the year the document was
                                                                                        Phinney earned undergraduate degrees in psy-
                                purportedly written. The Case of the Wicked Will,
                                                                                        chology and political science at the University
                                as Phinney calls it—he affectionately names all of
                                                                                        of Alberta in Canada, where he grew up, then a
                                his investigations—was cracked.
                                                                                        master’s in graphic arts publishing with a special-
                                   Phinney’s fascination with all things fonts and
                                                                                        ization in design and typography at the Rochester
                                typography have led him to become the world’s
                                                                                        Institute of Technology. He then began an 11-year
                                foremost forensic font expert, capable of dating and
                                                                                        career with Adobe Systems in Silicon Valley.
                                identifying fonts and the technology used to print
                                                                                            It was during his Adobe stint that he decided to
                                them. He’s been an expert witness for numerous
                                                                                        pursue his Berkeley MBA via the evening and week-
                                court cases and evaluated questioned documents
                                                                                        end program. Phinney was attracted to the school’s
                                for the U.S. Treasury, The Washington Post, the BBC,
                                                                                        reputation and quality. “The level of intellectual sim-
                                the PBS television show History Detectives, and
                                                                                        mer at Haas was really lovely,” he says. “People’s
EXHIBIT A                       more. He also consults for the likes of Microsoft
                                                                                        brains were always working to come up with new
                                and Google. Whether uncovering forgeries, verify-
                                                                                        ideas and to challenge each other, and I liked being
                                ing font sizes against mandated legal requirements,
                                                                                        in an academic environment operating on that level.”
                                or a host of related typography conundrums, Font
                                                                                            Earning an MBA might not have been the most
                                                                                                                                                                                               TYPE CASES
                                Detective Phinney relishes his work at the inter-
                                                                                        obvious career path, Phinney says, but he used his
                                section of art, commerce, history, and technology.
                                                                                        Haas training to move up the product manage-
                                                                                        ment chain at Adobe and later at font management
                                                                                                                                                                                     The Canadian Caper
                                WHY TYPOGRAPHY MATTERS                                  software company Extensis in Portland, Oregon,                                               A former millionaire turned bankrupt
                                For a field with roots in Gutenberg’s printing          where he currently lives. In 2014, Phinney joined                                           telecom executive in Canada sought to
EXHIBIT B
                                press, fonts remain at the bleeding edge of our         FontLab, a creator of apps for type design and font                                        shield two of his homes from creditors
An image from the disputed      digital world. Digital typography underpins virtu-      creation, as VP, later becoming CEO.                                                         by producing two signed declarations
will in Phinney’s first
case, Exhibit A shows
                                ally every page with which we interact online. And          While crediting a Haas course in negotiation as                                           stating they were being held in trust
“wicking” (bleeding) of         yet, Phinney often finds himself defending why          being particularly helpful in progressing through                                            for his children. Phinney testified in a
ink along paper fibers, as      it all matters. Branding, for one thing, he says.       the management ranks, it was a class in managing                                           sworn affidavit for the Ontario Superior
well as bigger streaking        “The selection of typefaces and the arrangement         technology-related businesses taught by Profes-                                             Court that one of the documents, sup-
from the printing process,
both visible at top of
                                of them can be as important as the use of color,        sor Emeritus Hal Varian that Phinney recalls as a                                          posedly created in 1995, was written in
the “o.” Also visible is a      images, or abstract graphics in creating a brand,”      game changer for his career.                                                                Cambria. The other declaration, dated
stairstep pattern on the        Phinney wrote in Communication Arts magazine.               “That one class gave me fundamental tools and                                              2004, used Calibri, now the default
inside of the “o,” an effect        Psychological research has also shown that          new ways of thinking about interconnected ideas                                              typeface on most Microsoft software,
of the 300 dots-per-inch        even subtle differences in typography, such as          that all played into my day job, like substitutability                                       including Word. But neither font was
resolution of the inkjet
printer. By contrast, Exhibit
                                using small caps and old-style figures, can affect      of goods and zero marginal cost for digital goods—                                            publicly available until the release of
B shows offset lithography,     a reader’s mood (as indicated by use of the cor-        including fonts,” says Phinney. “They’re essen-                                               Windows Vista in 2007. The defen-
like book printing.             rugator muscle in the forehead to frown) as well        tially a weird form of mass-produced software.”                                              dant’s lawyers tried to claim the man
                                                                                                                                                                                    was mistaken about the dates the doc-
                                                                                                                                                                                   uments were signed, but the court was
                                                                                          CONNECTIONS
                                                                                                                                                                                      having none of it, saying that it was
                                                                                          Information Rules: A Strategic Guide to the Network                                        “unavoidable” the trusts were shams.

  22                                                                                      Economy by Haas Professors Emeritus Hal Varian
                                                                                          and Carl Shapiro, was the most important book
                                                                                          Phinney read at Haas. “It was so meaningful about the
                                                                                          interplay of economics and technology,” he says.
Berkeley HAAS
DRIVING DEMAND                                                “The selection of typefaces                                 ial amount of money I could earn through these
                FOR DETECTIVE WORK                                             and the arrangement of
                                                                                                                                          cases, especially if I took the time to publicize it
                                                                                                                                          in a formal way.” Just two years after hanging out
                                                                               them can be as important
                But even as his day jobs kept him busy, Phinney
                                                                                                                                          his virtual shingle as The Font Detective, Phinney
                continued getting called to the work that had long
                                                                                                                                          earns as much as half his revenue from font foren-
                fascinated him: unlocking the mysteries held by
                fonts and typography. Throughout his corporate                 as the use of color, images,                               sics; the remainder comes from designing fonts for                                     Calibri Font released to
                work years, “Cases just kept popping up,” he says,             or abstract graphics in                                    clients like Google.                                                                   general public in 2007

                                                                               creating a brand.”
                with word of mouth driving font forensic ques-
                tions to his personal inbox.
                                                                                                                                          THE BAD, THE INADVERTENT,
                   One such case involved a rabbi who had faked                                                                           AND THE ILLEGIBLY SMALL
                his credentials to land a job. A family in his con-           document was dated 1968, but the font in which              Phinney says that most forensic cases fall into one
                gregation turned to Phinney to validate details of            his name was printed didn’t exist until 1992,”              of two categories. The “nefarious” cases are those
                the man’s graduation certificate, or smichah. The             Phinney says. And so ended The Case of the Rep-             like the man who sought to prevent his wife from
                rabbi had taken steps to make it harder to detect,            rehensible Rabbi.                                           getting her fair share of assets in their divorce by
                degrading the quality of the document by provid-                 By 2018, Phinney decided to make his side                forging debt documents, to bamboozle her into
                ing only a faxed copy, not the original. But the              gig official. “I was having so much fun with this           accepting a lower valuation of their communal
                deception couldn’t elude the font detective. “The             work,” he says. “I also realized that it wasn’t a triv-     property. Unfortunately for the soon-to-be ex-hus-
                                                                                                                                          band in Phinney’s Case of the Dastardly Divorce,
                                                                                                                                                                                                                       TYPE CASES
                                                                                                                                          those faked documents were not only printed
                                                                                                                                          on a 600 dpi printer that didn’t exist at the time
                                                                                                                                                                                                              The Panama Papers
                                       THE FONT MAKER                                                                                     they were dated but were created in a font that
                                                                                                                                          wouldn’t have been available either. “That case
                                                                                                                                                                                                     One of the most high-profile forensic font cases
                                                                                                                                                                                                     involved international political corruption. The
                                                                                                                                          was slam-dunk easy,” says Phinney.
                               As a type designer, Phinney has created numerous typefaces, including                                          The other type of case Phinney commonly han-
                                                                                                                                                                                                       2016 release of the Panama Papers, a collec-
                              commissions for open-source typefaces from Google, private designs, and                                     dles involves determining if documents meet typo-
                                                                                                                                                                                                      tion of leaked documents revealing illegal tax
                               a handful that have seen commercial use in supplements to the Call of                                      graphical legal requirements, like whether what
                                                                                                                                                                                                       havens for the wealthy, detailed a number of
                                      Cthulhu role-playing game. The publicly available ones:                                             Phinney terms “the stupidly tiny” 5-point typog-
                                                                                                                                                                                                     offshore holdings held by Pakistan’s then-prime
                                                                                                                                                                                                      minister, Nawaz Sharif, including two compa-
                                                                                                                                          raphy on Justin Timberlake’s CD liner notes were
                                                                                                                                                                                                      nies listing Sharif ’s daughter, Maryam, as the
                    Hypatia Sans                                              Cristoforo                                                  sufficient to stand as public notification of others’
                                                                                                                                          copyrights on the album. (Phinney suggested not.
                                                                                                                                                                                                        beneficial owner. Maryam defended herself
                                                                                                                                                                                                     with a document created using the Calibri font.
                    12 fonts // An Adobe original, with help                  3 fonts // A digital revival of three classic Victorian     The case was settled out of court.)
                                                                                                                                                                                                       Unfortunately for the Sharif family, that font
                    from Paul Hunt.                                           fonts, created as a Kickstarter project.                        Even for organizations trying to be good font
                                                                                                                                                                                                       wasn’t in general use until nearly a year after
                                                                                                                                          citizens, it can be challenging. “I feel for corpo-
                                                                                                                                                                                                        the purported date of the document. While
                    The quick brown fox jumps                                 The quick brown fox jumps                                   rations, because legal typography requirements
                                                                                                                                                                                                      the internet buzzed with “fontgate,” Phinney,
                                                                              over the lazy dog                                           can differ in every state,” Phinney says. California,
                    over the lazy dog                                                                                                     for instance, requires information on prescription
                                                                                                                                                                                                         an expert on Calibri’s timeline, posted the
                                                                                                                               REGULAR                                                                typeface’s history on Quora and quickly found
                                                                                                                                          labels to be printed in at least a 12-point font,
                                                                     LIGHT
                                                                              The quick brown fox jumps                                                                                                    himself an expert for global reporters.
                    The quick brown fox jumps                                 over the lazy dog                                           while that may not be the case in other jurisdic-
                                                                                                                                          tions. In New York, legal requirements for both
                    over the lazy dog                                                                                            ITALIC   font point size and height work a bit differently
                                                                                                                                                                                                  they were authentic—quite the contrary,” says
                                                               LIGHT ITALIC   the quick brown fox                                         than those of any other state. “Which is just
                                                                                                                                                                                                  Phinney, speaking of the high-profile case that
                    The quick brown fox                                       jumps over the lazy                                         another reason a lawyer might need to consult an
                                                                                                                                                                                                  ended with a public repudiation of the journalists
                                                                                                                                          expert,” notes Phinney.
                    jumps over the lazy dog                                                                                  ORNAMENTS
                                                                                                                                                                                                  who ran with the story without authenticating
                                                                   REGULAR    SCIENCE GOTHIC                                              THE PERFECT CASE
                                                                                                                                                                                                  the forged documents first. So the hunt for the
                                                                                                                                                                                                  perfect case continues.
                    The quick brown fox                                       A variable typeface with hundreds of styles, based on
                                                                                                                                          Phinney ’s dream case is “one that has major                Reflecting on his career, Phinney has a message
                    jumps over the lazy dog                                   Bank Gothic. Created for Google Fonts, with Vassil
                                                                              Kateliev and Brandon Buerkle.
                                                                                                                                          implications of some sort and exposes malfea-           for anyone thinking of making a mid-career switch
                                                                 SEMI BOLD                                                                sance that affects a lot of people.” He had a           to a vocation that has been tugging at them.
                                                                                                                                          close brush back in 2004, when he was asked by              “I could have been embarrassed or ashamed
                    The quick brown fox                                       The quick brown fox                                         journalists to examine memos related to Presi-          to switch paths out of my corporate management
                    jumps over the lazy dog                                   jumps over the lazy dog                                     dent George W. Bush’s service in the Texas Air          career to something that, on the surface, wouldn’t
                                                                      BOLD                                          LIGHT SEMI-EXTENDED   National Guard that seemed to prove that Bush           draw so broadly on my MBA training,” he says.
                    The quick brown fox                                       The quick brown fox                                         had disobeyed orders and received outside help
                                                                                                                                          in cleaning up his military record. “Based on my
                                                                                                                                                                                                  “But I’m really glad I didn’t let those feelings deter
                                                                                                                                                                                                  me from doing what I wanted to do. Because I’m
                    jumps over the lazy dog                                   jumps over the lazy dog                                     research I could not support a conclusion that          still making money but having way more fun!”
                                                                     BLACK                                              BOLD CONDENSED

                                                                                                                                            CONNECTIONS
                                                                                                                                            Phinney has fond memories of weekend                     The Takeaway

 24                                                                                                                                         group project work, especially time spent
                                                                                                                                            with his most frequent collaborators, Raja
                                                                                                                                            Sundaram and Ashley Bryan, MBA 03s.
                                                                                                                                                                                                     “If you’re going to forge an old
                                                                                                                                                                                                     document, for goodness’ sake,
                                                                                                                                                                                                     just use Courier!” says Phinney.
                                                                                                                                                                                                                                                             25
Berkeley HAAS                                                                                                                                                                                                                                               SPRING 2021
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