Are Americans Complacent?

30.04.12 | naill fergusonel-erianharvardPIMCOoxfordroubiniBRICfrontier nations

I believe the children are our future technology is our today and tomorrow. That’s why I went to the Babson info session for the MTIE concentation (managing the technology-intensive enterprise). Translation - how to managing tech-heavy businesses. 

I was one of I think three women in a room of probably 30 and the only white woman. There were a handful of white men, maybe 8, 10 max, but the rest were of Asian descent, central and eastern. I say this not to comment on race, ethnicity, or segment the population but as more evidence that certain fields continue to be dominated by foreigners and we Americans need to step up our game. What if one day those individuals choose not to stay in America. Where will we source talent from at that point?

Like anyone else, I can sometimes come across as a know-it-all but at the end of the day, I recall a volunteer training session that resulted in a pie chart. The 1% piece of the pie that was colored in was the amount we decided we knew we knew. The rest were areas we assumed we didn’t know much about or didn’t know we didn’t know about. This is not stupidity, it’s not even ignorance, it’s about acknowledging areas we need to work on.

America is threatened now more than ever. Sure, we have innovators, but there are many nations with much more drive than ours. Most of us are driven by money because we want to maintain a certain lifestyle. In other nations, many are driven by the desire to get where we already are. In essence, America already had an “A” but isn’t working hard enough to keep it. The BRIC nations have a “B-” and are pushing harder than ever to get an “A.” Once they do, what will happen? 

I guess that’s a question for Ferguson, Roubini, and El-Erian. But I doubt they have the answer. 

Derivatives, Goldman, CalPERS & India, oh my!

26.03.12 | george sorosthe inside jobgoldman sachsbankingwall streetobamaforeclosuresbush cheneyharvardcolumbia business schoolderivativessecuritizationcdoabsmbscitigroupmerrill lynchCalPERSBombay Stock ExchangeIndiaCFTC

There are leagues of young men out there just dying to become the next George Soros and this is a scary thing. Is it as simple as becoming hedgie = $$ = girls = ego?  The scary thing is I fell in love with a guy like this and that’s not the kind of man I want to be with. Moreover, the fear I have is that realists like me are perceived to be pessimists while others are happily moving along, not aware that the system wants you to watch sports and buy shoes so you won’t pay attention to what is really going on. 

What is really going on is not much different than was before. More people are employed, yes. There are tons of homes on the market and reportedly people are quitting their jobs to buy foreclosures, according to Reuters. More worrisome, though, is my concern that the banks are buying Obama. According to The Washington Post, Obama’s campaign fund is benefiting from the banks.

Here are some news pieces and/or press releases I deem noteworthy now b/c they show not much is changing. So while you cozy up in front of your 52” flat screen, I hope you have a nest egg because there’s no loyalty in a nation where there’s no accountability or morals driving big business. Yes, there is corruption but we also owe it to ourselves to be prepared for the future. Maybe not have the second kid you want for another year, maybe not buy or lease that new car, maybe buy generic…

The Guardian reports that Goldman $achs is thinking about building a new UK HQ, and among the architects it is talking with is the famed Lord Foster. 

Romney’s campaign is basically Bush-Cheney people, from No Child Left Behind to Columbia and Harvard econ brains. Joy. 

Oppenheimer announced that its “Institutional Equity Derivatives group has hired three experienced senior professionals to expand the capabilities of its options desk.”

According to Bloomberg, ”Italyholds derivatives contracts on about 160B euros ($211 billion) of debt or almost 10% of government securities in circulation, a government said.”

According to Reuters, Goldman $uchs Group will hold its first board meeting in India this week. 

Bloomberg reports that Shittygroup Citigroup and Bank of America Corp. have joined the Bombay Stock Exchange’s Derivatives platform. 

I don’t know how credible this website Watchdog.org is, but it is reporting along with CalPensions.com that CalPERS, among or possibly the nation’s largest retirement fund, is a funding level in the low 70s. Why does this matter? Because if it’s true, those Cali residents better hope their employers can pay their salary because they aren’t retiring any time soon. Might as well bump the average U.S. retirement age to 70. 

CalPERS will soon use a standard form for PE reporting, according to the Sacramento Business Journal.

NYTimes DealBook reported the Commodities Futures Trading Commission voted 4 to 1 last week for new rules aimed at driving more oversight and transparency within the derivatives market. Pop the top for the complete story. 

One excerpt from the DealBook article: “The new measures impose a battery of risk-management rules on banks and other firms that trade derivatives. Under the regime, firms must conduct “stress tests” of all potentially risky customer positions, evaluate their ability to meet margin requirements every week and test all lines of credit yearly.”

The “I” Word

22.02.12 | HBSMax MartyPeter ThielUMass BostonVCangelgreenwichharvardhedgiesinnovationsciencestamfordstanfordtechnologyventureyaleblueseed

They’re everywhere- innovation labs. Is this America’s way to stimulate business amid a long recovery? Gone are the days when patent royalties were a bonus - universities seem to have no choice but to encourage “innovation” and thereby many big name schools are devoting space and money to new I labs. Many wealthy entrepreneurs and major cities are also committing funds with the hope that incubators will lead to revenue and job creation.

In the academic setting, it will be interesting to see how this plays out because some science genres are more conducive to commercialization while other lay the groundwork for future generations’ work, which may be deemed “innovation.”

Pop the top for info on various i labs. Who will win? Maybe we should ask the Broads to judge a contest with Thiel, Zuckerberg, and a few Silicon Valley and Alley directors and lawyers. But then we’d have a really tough decision to make: which coast would the contest be on?

Blueseed - Floating Incubator Leave it to Paypal Founder and Facebook Investor Peter Thiel to fund a boat-based incubator. Yes please! Thiel helped seed the idea developed by CEO and co-Founder Max Marty. I’m sure the INS is thrilled. I’m just wondering if they’ll take Americans.

Harvard i-lab It seems Faust is trying to bring the talent at the many Harvard schools together through the i-lab.

Y Combinator - Startup bootcamp if you’re lucky enough to get in. The advice is allegedly more valuable the financial investment b/c ~$17K for 6% equity seems a bit high. Their FAQ section is quite informative.  

Connecticut -not quite as storied as Mass., dreamy as Cali, or hip as NYC, this tri-state member sits in the shadows of NY but CT is home to plenty of suits from the bankers in Stamford to the hedgies in Greenwich. The NYTimes posted this piece on a new I lab. 

Stanford StartX, formerly SSE Labs The word “innovation” need not really be used in the Silicon Valley, land of the dreamers. It’s assumed, along with office attire that may = flip flops and tees.  

UMass Boston Venture Development Center As the school works to improve the image of the business school, they also tout the Venture Development Center, which offers space to budding science and technology entrepreneurs, among other perks.

I could go on but this handful is enough for now. Again I wonder is there room for Boston in this startup scene? Silicon Valley (CA), Silicon Alley (NY), and Silicon Harbor (MA)? Doesn’t have a ring to it but let’s keep the faith…

Harvard Revisits Allston Plans

18.11.11 | 5 notes | harvardcambridgebostonallstonlife scienceshealth sciencesdevelopmentconferenceHBS

Harvard is revisiting the Allston development plans, among others, according to Harvard magazine, which cited the Sept. 19 letter from The Corporation. Among the plans are:

1) The Harvard Life and Health Sciences center, which is dependent on funding from the upcoming capital campaign.

2) Issue RFPs to third-party developers to build Harvard affiliated housing for rent along Western Ave and N. Harvard Street.

3) Find partners to help construct an enterprise business campus and hotel conference center for the 36-acre “Allston Landing North.”

Click here for recommendations the Allston Work Team submitted to The Corp. in June 2011.

Brains, Balls & Humility

18.10.11 | 36 notes | AdobeHarvardMicrosoftSponsored Research AdministrationThomas SzaszVLookup

“Every act of conscious learning requires the willingness to suffer an injury to one’s self-esteem. That is why young children, before they are aware of their own self-importance, learn so easily.” - Thomas Szasz

Sometimes the most one learns on the job is his or her own weaknesses. I suppose those of us that see potential in ourselves take mistakes as a blow to the ego. But, I’ve learned that if one isn’t even a little bit challenged, overwhelmed, at work, then one should’ve left that job some time ago.

While I am learning a lot about Harvard policies and Sponsored Research Administration, I think I’m actually learning more about my own practices, best practices I want to adopt for myself, and interpersonal and relationship skills I want to improve. Working as an SRA at Harvard, one learns how to live in the gray area all the time. You learn to have a bigger appetite for risk and to think outside the box to make things happens.

Here’s my list of to-dos. I figure if I post this, I’ll hold myself to these goals, tangible and intangible.

1. Talk less, listen more.

2. Count to 10 before unleashing the rant. Could I complain to myself and sound a bit more professional?

3. Take a walk, even for just five minutes, every day. A daily departure from the cubicle is imperative.

4. Before submitting items for review, think about what the reviewer wants to see. Similarly, before submitting summaries to superiors, think about questions they might ask and situations that could potentially impact the account.

5. Embrace networking groups. While your peers might not help you get a new job, they can probably help you perform better in your current role

6. Explore the many tools in Adobe Pro and Microsoft Office 2010. From splitting up PDFs to using pivot tables, macros, color coding cell commands, and VLookup, there are many ways to use simple technology to improve efficiency and depend less on manual processes that are subject to human error.

All in all, I want to learn. There are plenty of people that have more experience, patience and knowledge about my environment and field, but most of them have a major disadvantage - they’ve become complacent and comfortable. The difference is I’m willing to make changes and I know how much I don’t know -a LOT! I’m starting to embrace discomfort because it means I’m learning. I see myself as a valuable raw material that will become more valuable once it is molded into a product.