The HBS LatAm Club seeks to provide a strong and engaging community for people who share a passion for Latin America and identify with the region’s core values. The club aims to represent the Latin American region on campus, promote its business and culture, and identify career opportunities for MBA students as it develops a strong network and becomes a source for job opportunities in LatAm. Our community of more than 300 students and partners, has a shape of its own, and it
is made up by not only those that were born from the Patagonia to Tijuana but by the Portuguese that knows Spanish, the Serbian-Canadian that likes reggaetón, the American that loves tequila, the Indian that interned in Peru, and so many others that have realized that they identified with the need to feel as part of something.
We are all different and that is what makes our community so strong. There are 20 countries that officially belong to the denominated “Latin American region”. Almost 640 million people live in these 20 countries over 7.5 million squared miles, 13% of the world’s surface area, are that is without considering the Hispanic Portugal and Spain. Although Spanish and Portuguese are the predominant languages, there are over 800 different languages that are spoken across the region and heritages from all around the world range from Africa to Europe. We do not share a common culture with which we can clearly identify by, we do not share customs or ideologies. We share our spirit, which strengthens our union into our very core.
Led by a diverse set of students from all around the region, our flagship events include the LatAm Fall Retreat, the Great Gatsby Welcome-Back Party, the Staff Appreciation Christmas Dinners, plus many others. This past weekend, the 20th Latin American Conference at Harvard Business School successfully took place which consistently features a group of successful government officials, business leaders, entrepreneurs, artists, social leaders, and faculty members that, like us, share a deep commitment to fostering social and economic growth in the region.
But it is important to note that the LatAm Club’s goes beyond its events and activities. The key to the Club’s success is the environment of support, understanding, and loyalty that it provides, as we walk together through this constantly iterating evolution process called “the MBA”, building long lasting relationships to help each other lead the positive changes that Latin America needs.
PARK PLAZA HOTEL – BOSTON. The stars were shining bright in the Back Bay during the Retail and Luxury Goods Club’s 10th Annual Fashion Show on November 15th. A longstanding tradition at HBS, the Fashion Show features 40 students who showcase the latest trends and styles from top designers to raise money and awareness for a local charity. With over 450 attendees and 12 designers, the Fashion Show this year raised over $5,000 for the Greater Boston Food Bank (GBFB), an organization helping to eliminate hunger in Eastern Massachusetts. The event was at full capacity, with standing-room only seating and overflow on both balconies overlooking the runway in the Grand Ballroom. Energy levels were high as Priya Karve and Ariel Troy, the lead organizers, welcomed the spectators and ushered in the models for the start of the hour-long show.
photo by Christopher Huang christopherhuang.com
As the lights dimmed, Matija Pecotic (Section D, MBA 2019) and Josephine Van Leeuwen (Section E, MBA 2019), both donning Ted Baker wardrobes, opened the 2017 show to heart throbbing music and flashing lights. Pecotic reflected on opening this year’s fashion show, “There was a lot of energy backstage, but I had a great partner with me to help calm nerves, so we were just excited to get out there! I think we were mostly just focused on not tripping down the stairs.” EC fashion show veteran, Eric Chavez (Section I, MBA 2018), also chimed in on his second consecutive year as a model, “As an RC, walking down the runway was nerve-wracking because I didn’t know what to expect or how the crowd was going to react. But I remember as soon as I stepped out, I felt the energy and cheers from my section which immediately put me at ease – I knew I had to do it again! It fe
For many people, Europe symbolizes culture, joie de vivre, Eurovision.
Of course, as the Club representing the continent on campus, we have all of this. It is not without reason my predecessors told me that the European Club has gained an unrivaled reputation for fun. This reputation is one that’s spans back decades; just ask Professor Roscini about when he was president of the club.
Yes, our club throws what we (and Business Insider) believe is one of the best parties of any business school; but this in many ways is a tool to bring our club and our society closer together. Bonds formed by mentor and mentee over emails and coffee are cemented with a tipple of alcohol and a beat from the shores of Croatia.
Yet this is just a small part of what we do and why we have become one of the biggest clubs on campus this year.
For me, Europe symbolizes unity.
This is why we have a mentorship scheme – not just helping people ease the transition from the old continent to the new, but so that we can create a community across the years. This is why our ladies’ evenings and nights at the pub have proven a big hit – helping people create the lasting relationships we came to HBS to find. This is why we host EU politicians and businesspeople at HBS and at our annual conference – providing a forum to exchange ideas, disagree without being disagreeable, forge a better future in a world so often wracked with extremism and instability.
This is why, despite my country’s sometimes uneasy relationship with the rest of the European Union, a British person has been at the very top of the club for the last two years (as long as my HBS memory will serve me).
And so, though we may speak different languages – my section’s Europeans speak 8 native languages – Europeans come to HBS together.
And so, though we may not always agree – my first conversation at HBS was with a fellow British person who was in favor of Brexit – there is a community of friends waiting to welcome everyone and looking forward to the next reunion.
The European Club isn’t just a part of the HBS Community. It represents what is very best about it too.
Alex Glasner (HBS ’18) worked in the the UK Parliament and then finance. Before coming to HBS he spent six months in Taiwan attempting to learn Chinese.
On Wednesday, November 29, The Cabaret sold out two smashing back-to-back performances at the American Repertory Theater’s OBERON. The edgy and eclectic show featured 22 diverse students and partners in a masterfully interwoven bouquet of song, dance, standup, storytelling, musical saw, and glow poi to creatively address what we’re actually thinking but don’t talk about — “truths untold” about HBS life hiding in plain sight. We laughed, we cried, and we drank. For a fun twist, tastefully themed cocktails were available at the in-theater bar including “Truth Serum,” a vodka-lime and ginger beer concoction and “A Girl’s Best Friend,” a citrusy tequila drink with a salt-rim. The Cabaret is an HBS-original production in its second year running under the HBS Show umbrella. The Cabaret was produced and directed by Raphael Roesler, Kelly O’Grady, Amira Polack, John Swisher, and Geoffrey Cheung, and starred Laura Barnes, Alexandra Barton, Dilan Gomih, Siddharth Jhawar, Nancy Jin, Katy Kasser, Michal Leszczynski, Sumit Malik, Juan Quiroga Ponce, Nick Piromsawat, D.R. Rockwell, Anna Tenuta, Chad Trausch, Shannon Wood, Sharif Vakili, Gil Valdes, Rain Zhang, and Jess Zhao.
Over January 12-19, 188 first-year MBA candidates participated in the 2018 HBS Startup Bootcamp. Below, you can hear from 26 Bootcamp teams directly about their startup ideas, their greatest lessons learned over the course of the Bootcamp, and the startups that they have on their radars.
AlphaInvest Digital platform providing retail investors with access to institutional wealth management Team members:Sud Murugesu (HBS ’19), Dimitra Taslim (HBS ’19), Michael Zhang (HBS ’19), Ahmed Alimi (HBS ’19). Bootcamp lesson learned:Drill down on customer segmentation and resulting go to market strategy
B Better Provides health and wellness solutions to companies that depend on top talent to remain competitive Team members: Nicolas Kernick (HBS ’19), Paula Vich Serra (HBS ’19), Sophie Weihmann (HBS ’19), Maria Creixell (HBS ’19) Bootcamp lesson learned: Don’t over-hypothesize… go out and test!
Bristle Bristle targets the DIY at-home painter and streamlines the purchase process by offering guidance, supplies and a simplified color choice. We deliver paint + primer in one can, and all the supplies you need in one box directly to your door Team members: Stephanie Schwartz (HBS ’19), Amy Jackson (HBS ’19), Alex Johnson (HBS ’19) Bootcamp lesson learned: Test fast! And bootstrap if possible Which startups do you find particularly interesting/disruptive? Casper – we want to be the Casper for paint!
Compound Insurance Compound is the easiest way to compare, buy, and manage insurance for small businesses Team members: Eli Lebovits (HBS ’19), Rashik Adhikari (HBS ’19), Yingjia Wang (HBS ’19), Stephen Lantz (HBS ’19) Bootcamp lesson learned: 1) It’s all about the customer 2) Test, validate, test, validate, and never stop Which startups do you find particularly interesting/disruptive? Lemonade, Betterment
Conscious Crust Delicious pizzas that are not only tasty but make you feel good by replacing the traditional dough crust with one made from low-carb vegetables, like cauliflower, zucchini, and pumpkin (half the calories, 10x fewer carbs). Targeted at health-conscious millennials who eat on-the-go / in the office a lot Team members: Romina Nair (HBS ’19), Nick Matthews (HBS ’19) Bootcamp lesson learned: Online research can only get you so far (read: not far at all). Speak to industry experts, investors, channel partners, customers – you’ll be amazed at the insights you can get from them Which startups do you find particularly interesting/disruptive? STRIVR, Carbon, Jumpcut
Cozy Life Cozy Life is a full-service, convenient, and easy-to-use online marketplace that removes the hassle of buying and selling second-hand furniture. Our target market is 20- to 30-year-old middle-class professionals who have busy schedules, who value convenience, and who furnish their apartments with top-end furniture, ideally at an affordable price Team members: Lilian Chen (HBS ’19), Spencer Fertig (HBS ’19), Radu Cret (HBS ’19), Bruno Marcolini (HBS ’19) Bootcamp lesson learned: Even if something feels fairly capital intensive to beta launch and test out, there are ways to hack together a minimum viable product to test the business assumptions and begin building traction. For example, although our business will be fairly capital intensive to scale (cost of renting storage space, moving trucks, and movers), we’ve successfully built a website (https://www.mycozylife.co/) and are hacking together a solution to build supply and demand at a low cost using Craigslist / Facebook Marketplace, our basement in Cambridge, and U-Haul trucks Which startups do you find particularly interesting/disruptive? Feather, which rents furniture to millennials (recently raised new funding)
CryptoInvest We make cryptocurrencies easily accessible to the masses; target market: 20-to-40-year-old professionals Team members: Pascal Kriesche (HBS ’19), Michael Reichard (HBS ’19), Jeth Soetoyo (HBS ’19) Bootcamp lesson learned: You must be able to state your value proposition in fewer than 10 words, otherwise it is not clear and requires additional testing and focus Which startups do you find particularly interesting/disruptive? Those in the field of Blockchain
Dropcloth Art We are reinventing the retail art gallery: We are a retail art gallery with no art inventory on site. Unlike the traditional gallery, we are a welcoming, educational space showcasing floor-to-ceiling high-def digital versions of our curated art selection. We cater to inexperienced art buyers looking for work in the $1 – 15K range, who are dissatisfied with the current gallery and online offerings Team members: Katie Spies (HBS ’19), Pritee Tembhekar (HBS ’19), Dan Ross (HBS ’19) Bootcamp lesson learned: 1. We got a lot of practice in knowing when to trust and relentlessly remain focused on our vision, versus knowing when to listen, be flexible, and pivot; 2. Know thy customer and TEAM TEAM TEAM TEAM Which startups do you find particularly interesting/disruptive? Second Measure (analytics within companies), Pirch (reinventing the appliance showroom experience), Skipping Rocks Labs (sustainable packaging), ClaraLabs, Pymetrics
Gather Gather is a crowdsourcing platform for innovative group activities. We design and test events with community participation, then scale the most successful ones through a network of entrepreneurs Team members: Byron Edwards (HBS ‘19), Joe Moriarty (HBS ‘19) Bootcamp lesson learned: Diverging is healthy. We diverged and converged over and over again! Which startups do you find particularly interesting/disruptive: Farmers Business Network, Boom Technology, Planetary Resources, Made in Space, Magic Leap, Coinbase, Natilus, Zipline
Glowly Glowly provides women powdered drink solutions for their health and beauty aspirations Team members: Emilie Fournier (HBS ’19), Gina Seguiti (HBS ’19), Kayco Zhou (HBS ’19) Bootcamp lesson learned: Selling, selling, selling! Entrepreneurs need to constantly sell and negotiate in every aspect of their business Which startups do you find particularly interesting/disruptive? Robo Investing solutions, like Betterment and Wealthfront, are disrupting a stuffy old school market and allowing people who are not financial experts to intelligently invest their money
Gourmenu We built a two-sided platform to digitalize the menu, ordering, and payment process for all restaurants. We help diners decide what to order by providing them with more information, and we help restaurants to drive sales and cut labor costs Team members: Jerry Liu (HBS ’19), Ted Lisitsyn (HBS ’19) Bootcamp lesson learned: During the office hour, we had the opportunity to speak with entrepreneurs who worked for our competitors and to get to know the dynamics of the industry. We also gained first-hand tips about go-to-market strategy, customer acquisition, and prototyping Which startups do you find particularly interesting/disruptive? AR, Big Data, AI application in traditional industries
In-Club A platform to connect brands with social media influencers in South-East Asia Team members: David Maher (HBS ‘19), Sarawut (Card) Cheewarattanaphan (HBS ‘19), Nam Phatraprasit (HBS ‘19), Padaree (Now) Utsahajit (HBS ‘19) Bootcamp lesson learned: You need agreat idea and then you have to get out there and launch it! Which startups do you find particularly interesting/disruptive? Consumer tech in South-East Asia
KeyTime KeyTime offers targeted networking to participants in business events, conferences, and meetings Team members: Levent Sarioglu (HBS ’19), Boris Resetarits (HBS ’19), Daniel Benzecry (HBS ’19) Bootcamp lesson learned: Team credibility and agility regarding the business idea are both highly important Which startups do you find particularly interesting/disruptive? Volute
LoLo LoLo aims to reinvent frozen food by making nutritious, tasty meals that consumers can trust and look forward to eating. We are targeting the health-minded and busy, on-the-go consumer who doesn’t want to sacrifice nutrition for convenience Team members: Lily Sassoon (HBS ’19), Emily Saltz (HBS ’19), Gustavo Resendiz (HBS ’19), Maggie LaFalce (HBS ’19) Bootcamp lesson learned: It’s important to take one step at a time and focus on the questions immediately in front of us, not the issues that may come up way down the line Which startups do you find particularly interesting/disruptive? Impossible Foods, Byte, Halo Top
LovePack LovePack is a platform for 20-to-40-year-old, upper-affluent Chinese people who live away from home to buy wellness-related products for their parents Team members: Swan Lu (HBS ’19), Sam Xu (HBS ’19), Maple Feng (HBS ’19), Anton Zhang (HBS ’19) Bootcamp lesson learned: Execution to trial and error is the most important thing. Learn by doing it and don’t be afraid to pivot Which startups do you find particularly interesting/disruptive? Blockchain-related startups and Autonomous Vehicle startups
Marrily Along Marrily Along aims to provide busy, professional brides (and couples) with the key information, comparisons, and analysis needed to select a wedding venue, all in under 30 minutes. We are focused on bringing transparency to the industry’s broken, fragmented, incomplete information space propagated by venues and vendors currently holding all pricing power Team members: Sarah Rosenak (HBS ’19), Anisha Vachani (HBS/HKS ’19), Caroline Hunting (HBS ’19) Ruby Lakshmanan (HBS ’19) Bootcamp lesson learned: How to transition from analysis to action through MVP testing + quick iteration of messaging Which startups do you find particularly interesting/disruptive? AI + Autonomous Vehicle startups, Wine industry-based startups, Health/fitness/wellness/genetics startups
MicroEnergy Our business provides solar energy solutions for rural Nigerian consumers who currently do not have access to electricity Team members: Caroline Dunn (HBS ’19), Danny Marquez (HBS ’19), Stefan Zlatev (HBS ’19), Anthony Tayoun (HBS ’19) Bootcamp lesson learned: Launching hardware-related products in developing markets is very complicated and the experience varies widely between different countries / dates Which startups do you find particularly interesting/disruptive? OffGrid Electric, Mobisol, BlackStar Energy
MIPSync MIPSync helps small physician practices transition to value-based care Team members: Ali Evans (HBS ’19), Caroline Dougherty (HBS ’19), Ashley Shipley (HBS ’19), Brian Yang (HMS ’19), Kevin Brady Bootcamp lesson learned: Building a company is all about the team. We feel blessed to have assembled a great MIPSync team! Which startups do you find particularly interesting/disruptive? Amino Health, Omada Health, Robinhood
MyToolBox MyToolBox is a B2B construction services startup trying to help workers find better/more work and contractors find better/more workers Team members: Wil Eyi (HBS ’19), Steven Staples (HBS ’19) Bootcamp lesson learned: Learning thatyouneed to do something that makes you happy – the scariest part would be the startup working out and you not wanting to be a part of it for 10+ years; Walking through the various stages of company-building Which startups do you find particularly interesting/disruptive? Joist, Faber Connect, Slack, Uber, Go-Jek, Didi, Catalant
Multiply Personal wealth management for middle-class Indians Team members: Shruti (HBS ’19), Azeez Gupta (HBS ’19), Nivedita Sunil (HBS ’19) Bootcamp lesson learned: We learned to focus strongly on the customer pain (and not gain/ good-to-have things) and design the solution to address it head-on Which startups do you find particularly interesting/disruptive? There are several interesting fin-tech startups in the USA and China that have built robo-advisors for wealth management. Betterment and Acorns are two that we find very compelling
Perch For price-conscious, independent travelers dissatisfied with expensive, unreliable, and troublesome accommodation options, Perch is a simple, self-service lodging solution. We offer convenience, cleanliness, and privacy at an affordable price unlike hotels, hostels, and Airbnb Team members: Cindy Ju (HBS ’19), Chloe Ho (HBS ’19), Harshit Sedani (HBS ’19) Bootcamp lesson learned: There are hundreds of ways to test demand before you start building Which startups do you find particularly interesting/disruptive? Drift
Perfect Chill The product is an “ice fan” with a detachable unit that stores ice packets that can be put into the freezer. The fan was designed specifically for babies under the age of 3 with a focus on new mothers and built to clip onto the stroller, car seat, and even crib Team members: Eerik Helmick (HBS ‘19), Briana Richardson (HBS ‘19) Bootcamp lesson learned: How quickly you can make progress on an idea when you put your head down with others and focus on building your idea rather than just thinking about your idea Which startups do you find particularly interesting/disruptive? Alert Innovations – A retail tech startup that has the potential to change the retail grocery store format
Remmy Remmy is a low-cost remittance platform powered by blockchain that targets low-income Latin American immigrants sending money home to support family members Team members: Luis Vidal (HBS ’19), Andres Gomez (HBS ’19), Sijun Yang (HBS ’19) Bootcamp lesson learned: Your target market’s true need and pain points can vary wildly from what you expected them to be Which startups do you find particularly interesting/disruptive? Circle Pay, Coinbit, Analytical Space, Baseload Energy
Stylr Fresh looks at your fingertips Helps users create a digital wardrobe and provide online styling and shopping advice based on this. Target market: People in the U.S. aged 20 – 45 Team members: Anusha Rajadorai (HBS ’19), Michelle Sterzovsky (HBS ’19), Monika Mazur (HBS ’19), Jason Chang (HBS ’19) Bootcamp lesson learned: Designing an insightful product test and feedback loop is an essential first step Which startups do you find particularly interesting/disruptive? StitchFix, Cladwell, Finery
Venuefly Venuefly simplifies event venue booking. We match bookers with unique event locations. We take the guesswork, time, and headaches out of planning for both bookers and venues Team members: Clare Simonis (HBS ’19), Josh Hoffman-Senn (HBS ’19), Jorge Echarte, HBS ’19 Bootcamp lesson learned: Getting to know your customer is key Which startups do you find particularly interesting/disruptive? Startups that solve big problems and make lives happier are neat. The vertical farming company, Plenty, is doing neat work around transforming agriculture in urban areas
Wash Day Salons Wash Day salons is a premium chain of hair salons for black women, who have traditionally been underserved through the current channels in which they get their hair professionally styled Team members: Diamond Richardson (HBS ’19), Poni Bepo (HBS ’19), Alaa Taha (HBS ’19), Justine Hong (HBS ’19) Bootcamp lesson learned: One of our biggest learnings was thinking about how we could build MVP tests using a minimal amount of resources to maximize the amount of learnings and insights we could walk away with. We’ve learned that even with a brick and mortar concept like ours, there are always ways to test our value proposition (messaging tests, one-day pop-ups, etc.)
Which startups do you find particularly interesting/disruptive? We have our eye on Tress – a social community through which black women can discover new hair styles and how to replicate them (whether on their own or via a stylist). Given our idea, we’re interested in keeping an eye on how the aspect of community plays into black women’s hair care choices.
Emily Heaton (HBS ’19) is the Campus News Editor for The Harbus. Though she grew up in San Diego, California, she gradually moved east – calling both Chicago and then New York City her home – before arriving at HBS. Prior to HBS, Emily worked in investment banking and private equity. In her recently obtained free time, she enjoys watching soccer (Arsenal, in particular), eating pizza, and talking about her passions for investing and gender equity (and, of course, investing in gender equity).
Acknowledgement: Special thanks to Professor Thomas Eisenmann for helping to make this article possible.
On January 26, the Entertainment and Media Club at HBS took a whirlwind tour through America’s media capital, meeting with close to a dozen MBAs who have built their careers in news and film in New York City. The trek led the HBS contingent to Brooklyn-based digital media and broadcasting company Vice Media, The New York Times’ headquarters by Times Square, Academy Award winning filmmaker A24, and YouTube offices and production studios. In addition to shedding light on the intersection of business and media, professionals from the host companies highlighted three best practices that are broadly applicable, irrespective of industry.
Know your edge. The information age has brought with it a mix of opportunities and challenges for media. Despite constant consumer engagement with media in a connected age, the volume and breadth of content options has made differentiation more important than ever—for example, the YouTube community alone uploads over six decades of video content every day. Vice has fueled its ascent through a devoted millennial audience; The New York Times benefits from deep experience and a brand built over 166 years. The emphasis on identifying an angle is a familiar focus at The Harbus, which leverages its unique access to leading business thinkers and practitioners.
Know your business. Strategic decision-making is, necessarily, informed decision-making. During the media company visits, the value of knowing the numbers and utilizing a data-driven approach could not be overstated. Corporate strategy, market segmentation, customer targeting, and marketing approach are all informed by analytics. With a ubiquitous shift toward digital delivery and consumption of content, there is no dearth of data to digest.
Know your industry. Media has undergone rapid evolution, requiring continuous forward-thinking and innovation to remain competitive. A thorough understanding of the competitive landscape not only enables managers to anticipate competitive response, but it also provides insight into determinants of success or failure. Across the many media businesses with a broad base of users but minimal or negative profit, external perception of long-term sustainability and access to capital has been highly variable. Nimbleness, adaptability, and vision have been central to the players that have come out ahead.
The Entertainment and Media Club is grateful to representatives from the host companies for enabling an informative, successful trek.
Sumit Malik (HBS ’19) is an investor, writer, and entrepreneur. Professionally, his background is in venture capital and private equity at Warburg Pincus, strategy as a board member of Santander Asset Management Chile, and investment banking at Goldman Sachs. Personally, he writes for academic and popular publications and performs music and poi (light- or fire-spinning). He previously received an A.B., summa cum laude, from Harvard College and an S.M. from the Harvard Graduate School of Arts and Sciences.
Just after Fall semester came to an end, 142 HBS students embarked on WesTrek, an annual pilgrimage to the West Coast for all budding HBS technopreneurs. Sure, escaping the chilly frost of the Northeast was a welcome change, but WesTrek’s biggest draw remained the privilege of intimate meetings in the legendary Silicon Valley with the movers and shakers of the tech world. This year, the Tech Club secured engagements with 53 such companies across San Francisco and the rest of the Bay Area.
142 participants, 40% female, diverse backgrounds
Anyone who’s attended an LCA class knows the mantra: there are always multiple stakeholders behind any endeavor. Along the same vein, WesTrek involved many different parties: student participants, alumni, new admits, companies, and the organizing team.
Within the group of 142 participants, the gender ratio was roughly 60%/40% male/female, which is relatively in-line with the gender representation of the broader HBS class. Emily Sillari (HBS ’19), a ‘WesTrekker’, shared that this gender split was mirrored in the male/female mix of the representatives of the companies visited throughout the trek. “This was encouraging to see,” reflected Sillari. “Especially,” she continued, “within a stereotypically male-dominated industry like tech.”
WesTrekkers also boasted diverse professional backgrounds, with 35% coming from technology and startups, 25% from finance or investing, 15% from consulting, and the remainder from a mix of other industries such as healthcare, military, and non-profit. This attests to the fact that WesTrek is for everyone, not just the tech geeks (like me)!
Yield on startups only 35%
Securing companies for WesTrek was not an easy feat. The organizing team reached out to 111 companies and managed to confirm 53 of them – just under a 50% total yield.
Perhaps expectedly, Big Tech had the highest yield of over 75%. Participants got to visit the “usual suspects” like Google, Facebook, and Uber, but also had the opportunity to meet with new additions like Paypal, Nvidia, and Box.
We interspersed tech titans with startups and venture capital firms, for whom the yields were only 35% and 50%, respectively. The 21 startups we visited included Stitch Fix, Allbirds, Pinterest, Quora, and Square, while the venture capitalists we visited included Accel, Bessemer, Greylock and many more.
To me, it wasn’t too surprising that we experienced the lowest yields for startups. Many startups that we reached out to were too busy building their product, and at least one of them simply did not have enough office space to accommodate 20 visiting students!
700 lines of code, 3 hours of processing for the matching algorithm
WesTrek’s COO, Stephen Lantz (HBS ’19), was the wizard behind the complex matching algorithm. Lantz’s algorithm managed 142 people visiting 53 companies spread over roughly 7,000 square miles of the Bay Area, all over the course of two days. Each company presented to an average of 25 students for 60-90 minutes, with each student meeting eight companies over the course of the trek. We used 700 lines of code and three hours of processing time (on a Core i7-7700k) to assign all 142 participants through a points-based bidding system. Remarked Lantz on the experience, “I wish this process could have just been my TOM final.” Let’s suffice to say that if it were a TOM final, Lantz would have aced it.
Favorite companies were Google X, Upstart, Pinterest and Allbirds, due to their strong vision, sense of society, honest and engaging leadership, and work-life balance
So, you may be asking, what were some of the biggest takeaways from this adventure?
We gathered detailed feedback from participants, and the themes that resonated positively with most students were a strong vision, sense of society, honest and engaging leadership, and work-life balance. Google X, Upstart, Pinterest, and Allbirds were the highest-ranked companies, all scoring an average of 4.5 (on a range of 1 to 5) or above in a survey that asked WestTrekkers how highly they would recommend each company visit to next year’s attendees.
I personally attended the Google X visit, and I can see why it was ranked highly. Instead of a typical sit-down meeting in a conference room, Google X employees took us on an exclusive tour around the facility. Students got to learn about the various moonshots that Google X is building, including balloon-powered internet for rural areas of the world and smart contact lenses with built-in sensors and wireless communication. One participant shared that Google X is the “dream company to work for,” as it is a “combination of a startup and a VC, and is a leader in human intelligence and company culture.”
Participants who visited Upstart and Allbirds spoke very highly of their respective CEOs, who both personally hosted the groups. The group that visited Pinterest spoke about the diversity of the employees who hosted them, and praised the hosts’ insights into managing work-life balance. In fact, one participant felt strongly that the reason Pinterest was “the most impressive visit that went beyond expectations” is because the speakers were “very well-prepared for a deep Q&A about work and life.”
Another unique experience was touring the Tesla factory in Fremont, CA. 24 students spent 60 minutes on the gargantuan factory floor, with its stunning visual clutter of red and white heavily-automated machines and black tape on the ground guiding autonomous robots. Many of the participants shared that this was the “best part of WesTrek,” and, according to one Trekker, “the most amazing thing I’ve ever seen.”
Big plans for 2018?
Everyone’s very excited to see what WesTrek 2018 will bring. Now that we have the magic well-documented, we’re hoping to grow the Trek, both in terms of students and companies. Some ideas that are percolating include visiting Apple’s “spaceship” campus, and maybe even SpaceX.
One thing’s for sure: planning WesTrek was fun but a real colossal feat, and I cannot imagine how the School organizes FGI for all 930 of the RC class…
Dennis Chua (HBS’ 19) is an investor and budding entrepreneur. He was co-chair of WesTrek, CFO of the Tech Conference, and is co-chair of the upcoming Investment Conference. Prior to HBS, Dennis did investing at D.E. Shaw, and investment banking at Goldman Sachs. Dennis received a B.Sc., summa cum laude, Tau Beta Pi, in Chemical and Biomolecular Engineering from Cornell University. In his free time, he enjoys thrillers and road trips.
Events are fun, booking them sucks. Venuefly wants to change that. Clare Simonis and Josh Hoffman-Senn (HBS ’19) are co-founders of Venuefly, an HBS startup.
The Problem We’re Solving
Booking a social event venue – whether it’s for an office happy hour or a 40th birthday party – takes a lot of time and energy. It takes thankless hours of Googling, Yelping, calling, and emailing to eventually find an appropriate venue.
On the flip side, venues are highly motivated to utilize their capacity. Events are a great source of business. But venue managers also waste countless hours fielding inquiries from weak customer leads.
The Solution:
Venuefly takes the headache out of event venue discovery, communication, and booking. This is how it works:
We take in a booker event profile
We solicit bids from event venues
We present the booker with several proposals
Booker chooses and books the venue
Idea Inspiration:
We believe life becomes too short if we waste time doing things we don’t love doing.
Before HBS, in addition to her professional roles, Clare planned a variety of events for her colleagues. After the fifth back-and-forth with a bar manager to plan a happy hour, she wondered why there wasn’t an easier way to book a venue. She thought there could be a solution to simplify the process of venue discovery and booking. And, voilà, the concept for Venuefly was born.
The Team:
We are Section G (woo!) classmates. Josh has co-founded three startups – Causemo, Lesson Squad, and Write Wedding. His extensive experience in launching platforms and marketplaces is a great complement to Clare’s experience in growing and scaling new business models. We’re often cranking away at the i-Lab, so come say hi if you see us!
Gaining Momentum:
We knew we wanted to participate in the J-Term Startup Bootcamp. Bootcamp is a SIP providing students tools and guidance for launching a venture – it’s a mixture of classroom workshops and studio time where we applying teaching to our own ventures. Last fall, we assembled a team of four: the two of us, Jorge Echarte, and Starry Peng. In preparation for Bootcamp, we interviewed potential customers to get a better sense of their needs, allowing us to refine our idea. Bootcamp itself was extremely valuable – the sessions rocked, and the studio time gave us time to test our idea and get some customers. For example, one afternoon we learned the basics of Google Adwords and Facebook Ads. Then, we used studio time to set up our own advertising campaigns.
To keep the momentum up during the semester, we meet regularly with each other and utilize resources on campus (e.g., talking to Entrepreneurs in Residence; participating in the Founders’ Cohort).
What’s Next:
Right now, we’re working to build our base of bookers and venues in the Boston area. The plan is to grow the volume of transactions over the course of the semester to gain a deeper understanding of both sides’ needs. Over the summer, we want to crank up automation and scale the product in the Boston market. As we learn and prove out the model in one geography, we’ll expand to other cities.
To our Classmates Booking Venues:
Let us know – we’d love to help you!
Clare Simonis (HBS ‘19) is passionate about simplifying peoples’ lives so they can make the space to be happy. Clare spent the last few years building and growing the new innovation arm within Fresenius Medical Care. Prior to Fresenius, Clare consulted in Monitor Deloitte’s strategy group. In her free time, she can be found cooking, practicing yoga, or jamming out to new music.
Josh Hoffman-Senn (HBS ’19) co-founded Causemo, a venture-backed donor acquisition platform that enables nonprofits to fundraise intelligently and efficiently. He also co-founded two online marketplaces, Lesson Squad and Write Wedding, and is retained by startups to assist with go-to-market and fundraising activities. Josh received a BA in Economics and Chemistry from Brandeis University.
Why did you want to run for Co-Presidents of the WSA?
Alexis Wolfer (AW): As I think about the future of the WSA, I want to ensure all women are set up for success when they arrive on campus, supported academically and socially while they’re here, and provided with the necessary resources to thrive after graduation. I want to make sure that both women and men are leaning in to the difficult conversations about what it means to be a woman today. Additionally, I want us to actively address the intersectionality of gender, race, religion, sexual orientation, and socioeconomic status so that women of all backgrounds and interests are supported by the WSA.
I firmly believe that a strong group of committed women can do anything, and that the WSA can help us all to continue to crack the proverbial glass ceilings both here at HBS and in our careers afterward. I want to play a role in ensuring that this happens, and I know that together with Erica, we can do so!
Erica Santoni (ES): The WSA is a fantastic organization, as it brings together all women and many male allies on campus. Running for Co-President of the WSA is a decision I made without any hesitation, as I believe this is the best way for me to promote gender equality at HBS. My experience this year as a Board member of the WSA (I was the Director of Speakers and Keynotes and part of the Executive Committee for the WSA Conference) further confirmed how much we as students can achieve through students’ associations. Working with other awesome women to organize an event that brought 1,100 people to campus and having the chance to engage with inspiring speakers throughout the year has been extremely rewarding and fun. I cannot wait to double down on my commitment next year. Last but certainly not least, I could not imagine a better partner than Alexis to share this journey with. She is as passionate as I am about gender equality and the WSA mission, and I find in her not only a competent and reliable partner, but also a trustworthy friend. We complement each other well and we will work hard to make the best out of the opportunity we have been given!
What drives your passion for gender equity?
ES: Gender equality is truly my driving passion, the reason why I came to HBS, and the focus of my career going forward. I have cultivated this passion since I was a child, and upon confronting the difficult truth that too often for a woman to be successful in the workplace she must behave like a man, I decided that promoting a more equitable world for women would become my life’s mission. Becoming Co-President of the WSA is a continuation of the work I’ve done to promote women’s empowerment in each community I’ve belonged to, from my engagement in students’ associations during my undergraduate and graduate studies, to my experience within the “Women Initiative @ BCG” in my past life as a consultant, to my efforts to mentor young women interested in a career in business.
AW: I’ve been deeply committed to gender equity for as long as I can remember! I hold a master’s degree in Human Rights/Gender Studies and spent seven years before HBS working to increase diversity of body shape, size, and color in women’s media. I have three older brothers, and while I have incredible parents who always told me I could do everything my siblings could, I realized that this wasn’t always the case (for example, in 5th grade when girls weren’t allowed to try out for the football team!). It was then that I knew that fighting for change was essential, and I haven’t stopped since. Notably, I ended up trying out for the football team. You can ask me about it later!
What are your key priorities for the WSA next year?
ES: In such a transformational moment for women, with the #MeToo movement and the Time’s Up campaign, the WSA must be a catalyst for change on campus, promoting dialogue and raising awareness about crucial issues such as sexual harassment and advocating for inclusivity – not just diversity.
My number one priority is to include all women – regardless of race, sexual orientation, religion, marital status, family dynamics, socioeconomic status, and abilities. To do so, we are planning to collaborate with other student clubs, and to continue our advocacy for women across campus. For example, we plan to collaborate with the Administration to develop more robust maternity and paternity leave policies, and to supplement the resources for student parents to build a holistic solution which will enable women to become leaders of tomorrow without sacrificing the possibility of having children.
Additionally, it is pivotal to continue the conversation around the #MeToo movement, creating an environment where women can share their stories and men can hear them. It is of great importance to include men in the conversation: this is not just a “women’s” issue, it is a human one. We plan to do so by leveraging the Manbassador community and the deep institutional expertise at Harvard (e.g., the Gender Initiative at HBS and the Women in Public Policy Program at HKS).
AW: Ensuring that the WSA is a welcoming and supportive community for all who identify as female is my top priority. Along that vein, we’re beginning our term by exploring the best ways to work with and support women from all backgrounds and with all passions and career ambitions. Some tactical objectives that we’re working on include: the installation of a new Board position focused on diversity and intersectionality, WSA-sponsored on-boarding materials for students without finance backgrounds, mid-semester WSA-led review sessions for FIN1 and FRC, and a regularly scheduled weekly time slot that will rotate between tactical trainings (for example, salary negotiations, how to report sexual harassment at work, etc.), fireside chats, and gender equity-related conversations. Erica and I are also committed working with the Administration to help introduce systemic changes in the school’s engagement with gendered issues on campus. Moreover, we are acutely aware that we don’t know what we don’t know! As such, we’ve been seeking input from ECs and welcome suggestions from anyone on campus!
Alexis and Erica will be seeking applications for WSA Board positions during the next few weeks. Look out for details in the WSA newsletter or email them directly to see how you can get involved.
Alexis Wolfer (MBA ’19) is Co-President of the WSA. She spent most of the last decade focused on increasing diversity of body shape, size, and color in women’s media as the founder of both TheBeautyBean.com and the viral Makeup Free Mondays movement. She graduated summa cum laude from Washington U. in St. Louis and earned her Masters in Human Rights from Columbia University; yet somehow she never learned how to ride a bike…
Erica Santoni (MBA ’19) is Co-President of the WSA. Italian by birth and European at heart, she lived in Milan, Paris and London before moving to Boston last August. Prior to HBS, she worked in management consulting, focusing on organizational transformations and change management projects. After HBS, she plans to focus her career on promoting women’s empowerment. She loves eating sushi, going to the theater, and talking about gender equality.
I stood in silence on the first floor of Baker Library in the Dean’s Gallery. The exhibition entitled, “Agents of Change: The Founding and Impact of the African-American Student Union” – a celebration of the history of African-American students at Harvard Business School – was showcased in conjunction with the African American Student Union’s 50th Anniversary (“AASU50”) and Conference (to be held April 20-21, 2018). The tension in this room was undeniable; serving as the backdrop for this special exhibition were the permanent portraits of prestigious deans of yesteryear – all of whom were white males. I walked and weaved slowly through the beautiful black essence that had been created in this space, reading carefully about the illustrative legacy of courageous black business heroes and sheroes: entrepreneurs, business executives, activists, and educators. To me, AASU50 is the culmination of this black essence, excellence, and legacy.
In a few weeks, the HBS campus will be filled with black thought leaders, friends, professors, and alumni, all of whom have traversed this campus, sat in our seats, and endured the rigors of the HBS curriculum – often against the backdrop of pressing societal and racial issues, national civil rights reform, and inequity within HBS. In 1968, with the assassination of Dr. King and with the prevalence of racial oppression and discrimination, black students of HBS worked to push for critical changes for black students on campus by forming AASU (pronounced “ay-sue”), the African American Student Union. Of their mission, founding members wrote, “our purpose is the unification of individuals who relate directly to the concerns of black people. The primary goal being to protect the interests of Black students from the institutional inequities at the Harvard Business School.” The founding members’ demands were direct, uncensored, and grounded within a greater movement marked by the expression of freedom and agency of black people across the business school and country.
AASU50 is a celebration of our black experiences and the ongoing movement for greater black access within this institution, within society, and throughout the world. The issues at our founding are as relevant today as they were fifty years ago. The founding members spoke to the increase in black students and professors, the expansion in fellowship awards for black students, and the creation of new courses focused on black- or urban-related issues. Professor Steven Rogers, MBA Class of 1957 Senior Lecturer of Business Administration at HBS, spoke to the strong connection between past and present that AASU50 celebrates: “AASU50 serves as the means by which our present AASU members are able to see and hear about alums, who are phenomenal role models because they were, 50 years ago, more than simply HBS students; they were leaders who boldly demanded that the school do more for its Black community of employees, faculty, and students.” AASU was the foundation by which these black leaders gathered under a common purpose and crafted demands to address concerns and enhance access for black people.
The AASU’s purpose and mission have not faded over the past fifty years. In reflecting on the significance of the AASU50 Conference, and of her co-presidency of AASU during the 2016-2017 academic year, Nkemdilim Oghedo (HBS ‘17) noted, “as co-president, I wanted to make sure that we maintained space for community, where black people felt supported…a safe space for people to truly feel themselves. AASU gives black people a seat at the table, creates a space where our voices matter and where we can be heard. I felt it was important to lead in an organization where people could opt-in to be their full selves and to create a place that grounded [black students] in who they were. For AASU50, I am looking forward to fellowship. And to building on the work of a community of black alums, especially those of black women. I cannot imagine what their experiences were like.”
AASU50 is about black fellowship. It will be the exploration of our journey, and the reinvigoration of the persevering black essence that has endured institutional and societal inequity. AASU50 is a reminder of our founding members’ mission to address our most pressing issues for the sake of continued and greater black access at Harvard Business School, in society, and throughout this world. Most importantly, AASU50 is a place to stand on the shoulders of true black business giants and to find solace and strength in our legacy, because there is still much more work to be done.
Brandon Rapp (MBA ‘19) is a contributor to The Harbus. After growing up in New Orleans, Louisiana, he attended a rival college (that which shall not be named) in the northeast and moved back to his hometown after graduation to teach at his high school alma mater. He then worked in economic and workforce development, tackling issues in emerging industries such as education/training, small business development, entrepreneurship, re-entry, and diversity and inclusion. When he is not stumbling into the Shad gym (literally), or shooting air-balls on the court, he enjoys investing time in conversations on racial equity, entrepreneurship, and holistic community and leadership development.
2018 has been quite a rollercoaster year for market participants – the Dow fell more than 1,000 points twice (the two largest single-day point drops in its 133-year history), and the CBOE Volatility Index almost tripled in February before recently settling within a range that is double the 2017 average. In explaining this volatility, experts are pointing to trade tensions between the U.S. and China, and to the threat of rising interest rates and inflation. The HBS Investment Conference could not have taken place at a better time, as attendees looked to the line-up of investing titans to share their wisdom on how to approach investing in today’s environment.
In late March, the HBS Investment Club hosted their largest Conference ever, packing Spangler Auditorium to capacity (~400 people) and managing a waitlist of over 450 people. This year, the list of speakers included legendary value investors such as Seth Klarman and Li Lu, renowned activists such as Cliff Robbins, and quantitative investing prodigy Peter Brown (who also convinced IBM to build DeepBlue).
The Conference program spanned a diverse range of investing disciplines including value, fixed income, long/short, activist, ESG (environmental, social, governance), and many more. Unsurprisingly, the range of topics and questions discussed also ran the gamut, from the debate of active versus passive investing, to opining on if and when the next market correction will happen. Below, I share three actionable Conference takeaways for all classes of investors:
Stay away from the hottest trends
It may come as a surprise to some that almost no time at all was spent on the hot “FANG” stocks (e.g., Facebook, Amazon, Netflix, Google). On the contrary, many of the speakers advised caution against “the hottest areas,” likely referring to these high-growth large-cap technology stocks (and, depending on who you ask, cryptocurrencies).
Some of the speakers reminded the audience that we are indeed in an overextended bull market, which could get dangerous, especially if expectations for high-growth technology companies continue to build.
During the “Best Ideas Sessions,” founders with different strategies, such as Miguel Fidalgo (Triarii Capital), Phil Hilal (Clearfield Capital), and Nitin Saigal (Kora Management), shared their favorite investments. Such picks included a real estate management company, a paints and coatings manufacturer, and a Russian online bank – none of which would be defined as particularly “hot.”
Invest for the long-term
Warren Buffett once wisely said, “Mr. Market is kind of a drunken psycho,” implying that the market can be irrational and volatile in the short-term. Many of the Conference speakers have had decades of experience in investing, and one common theme among them was their patience in investing with a long-term time intention (except the quantitative investors, of course). One of the keynotes accurately described long-term investing as picking a company that you believe in and funding its growth over time.
There were a handful of questions on robots/A.I. and data analytics taking over the analyst’s role over time, but, notably, the speakers with a longer-term investment horizon seemed less concerned about losing their edge. At least one of the speakers seemed to believe that the short-term trader will have to worry about robots a lot sooner than the long-term investor.
Surround yourself with the most ethical and self-aware people
Almost all of the speakers mentioned that a key to their success was surrounding themselves with the right people – whether it was their own investing team or the management team of the companies they invested in.
Speakers talked about the importance of ethics and culture within investment and management teams, possibly more so than simply having a strong track record of execution. Many of the investors also seemed to place some importance on ESG when assessing management teams. In selecting good investments, the role of the senior leaders involved cannot be understated.
In terms of joining or building your own team or community of investors, the speakers emphasized the importance of associating yourself with highly ethical and self-aware individuals. This not only facilitates learning and keeps you out of trouble, but also creates a healthy and fun culture and experience. Our LCA professors would certainly approve!
Bringing it all together
Although I’m not sharing specific trade recommendations from the Conference, I believe that by implementing the above three criteria in evaluating one’s own investments, one can learn to start investing like some of the legends that we were lucky to hear from. As for the many of us wondering if and when a market correction will happen, legendary investor Peter Lynch reminded us that “far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.” Who knows? Only time will tell.
Many thanks to the HBS organizing team, consisting of Dennis Chua (HBS ’19), Rhonda Shafei (HBS ’19), Scott Robertson (HBS ’19), Tim Qin (HBS ’19), and Alec Guzov (HBS ‘19). The full line-up of Conference speakers this year can be found here: http://2018.hbsinvestmentconference.com/agenda/
Dennis Chua (HBS ’19) is an investor and technology enthusiast. He is the co-president of both the Investment Club and Tech Club, and co-chaired the Investment Conference and WesTrek. Prior to HBS, Dennis did investing at D.E. Shaw, and investment banking at Goldman Sachs. Dennis received a B.Sc., summa cum laude, Tau Beta Pi, in Chemical and Biomolecular Engineering from Cornell University. In his free time, he enjoys thrillers and road trips.
The Harbus Foundation has announced a total of $60,000 in grant awards to Boston-based nonprofit organizations Empower Schools, Generations Incorporated, and GroundTruth. The recipients took home $20,000 each in the categories of Education, Literacy, and Journalism, respectively, following the Harbus Foundation’s annual gala.
The K-12 education efforts of Empower Schools, the Education grant recipient, have pushed the bounds of possibility for broad-based district reform. Through partnerships with state education agencies, principals, and teachers, the organization facilitates the creation of networks of schools in Empowerment Zones, which operate with a high-autonomy, high-accountability framework. The consequence is greater efficiency, improved adaptability, and an increased ability to attract talented educators, providing a way forward for stagnant or underperforming schools.
Empower Schools, education grant recipient. From left to right: Cara McKenna, Alyssa Schechter, Kate McLaughlin (HBS ’19), Maura Lynch (HBS ’19), Francie Alexandre (HBS ’19)
Generations Incorporated, the Literacy grant awardee, adopts an innovative approach to efficiently addressing the literacy crisis in Boston Public Schools, where two-thirds of students currently fail to read at or above their grade level at the end of grade three. By training older adult volunteers as reading tutors and connecting them with young children in under-resourced communities, Generations Incorporated simultaneously provides much-needed guidance to struggling students and fulfilling, engaging service opportunities to the elderly. This model has enabled the organization to amplify its community impact, with a corps of over 260 older adult volunteers, who devote as many as 15 hours per week throughout a full school year, managed by a lean staff of only 15 people.
GroundTruth, the grant recipient in the Journalism category, supports opportunities for emerging, young journalists to report on issues of global importance. The organization places special emphasis on enterprise journalism based on content creation through firsthand reporting “from the ground,” as well as engagement with social justice topics, including political reform in developing countries, efforts to combat climate change, opportunities and challenges in global health, and basic human rights. Through team-driven, multimedia reporting and partnerships with blue-chip news media, GroundTruth enables emerging journalists to generate and distribute differentiated content while building cross-cultural understanding necessary for objective, influential reporting.
GroundTruth, journalism grant recipient. From left to right: Justin Blumenthal (HBS ’19), Rachel Rohr, Josefin Muehlbauer (HBS ’18), Anne O’Brien, Samir Junnarkar (HBS ’19)
Since its founding in 1997 by the Harbus News Corporation, The Harbus Foundation has allocated over $1 million to high-impact nonprofits that support the community in which Harvard Business School operates. The Harbus News Corporation, which is celebrating its 81st anniversary this year, has turned to the foundation to effectively allocate funds accumulated through the newspaper’s operations, including advertising revenues from The Harbus and sales proceeds from the MBA Admissions & Interview Guide and the MBA Essay Guide.
The Harbus Foundation is entirely run by HBS students, whose roles are divided into grantmaking and endowment management. The grantmaking function includes dedicated teams for Education, Literacy, and Journalism that each screen for standout organizations, invite a select group of semifinalists to submit grant applications, interview and conduct due diligence on finalists, and ultimately make a recommendation on grant recipients. Grantmaking criteria include sustainable and measurable contribution to the community, impact on the Greater Boston area, and opportunity for a Harbus Foundation grant to meaningfully facilitate the organization’s mission. The Harbus Foundation’s investment team manages the organization’s endowment, which currently stands at $1.4 million.
Sumit Malik (MBA ’19) is an investor, writer, and entrepreneur. Professionally, his background is in venture capital and private equity at Warburg Pincus, strategy as a board member of Santander Asset Management Chile, and investment banking at Goldman Sachs. Personally, he writes for academic and popular publications and performs music and poi (light- or fire-spinning). He previously received an A.B., summa cum laude, from Harvard College and an S.M. from the Harvard Graduate School of Arts and Sciences. Follow him on Twitter @sumitxmalik.
The jokes flew fast in a sold-out Spangler auditorium on Wednesday, April 11, during the 3rd annual HBS Comedy Night. Preceded by a generous Student Association-sponsored happy hour in the Spangler Grille, the show featured a dozen aspiring comedians drawn from the HBS student body, including the show’s organizer, Old Section G’s Jess Zhao.
“All of the performers brought such different styles and were hilarious in unique – and often unexpected – ways,” Zhao noted. “It’s great that there’s a place for students to try stand-up, typically for the first time, and that it’s so well received by their peers and classmates.”
The audience remained buoyant throughout the 90-minute show, hosted by New Section D’s Dilan Gomih, and was not disappointed as comics recounted their recruiting travails, lamented interactions with strangers, and dove into life at HBS. New Section E’s Ninad Kulkarni drew laughs as he shared his difficulty discussing sex with his imperious mother, and New Section F president Spencer Fertig brought the house down with his tales of awful aviation consumer experiences. Even the author managed to get few lines in, dropping jokes about his commuter student life that he could then shamelessly quote in his show review.
“My wife and I live an hour away, because when I got in here we decided we prefer grocery shopping in New Hampshire,” he said. “Live Free or Die, motherf****r.”
Audience reactions were positive as well.
“The whole show made me forget that I was watching my classmates – it felt like a professional club!” remarked New Section A’s Smitha Ganeshan. “I was entertained for the entire show.”
The show also had a social payoff, raising over $5,400 for Boston-based charity Cradles to Crayons. Leveraging his FIN-trained forecasting skills, the author is confident the show will make a return – and bring another night of hearty laughter to HBS.
Steve Smith (MBA ‘19) has been The Harbus’ Satire Editor since December 2017, and began practicing the art of comedy over seventeen weeks ago. He’s the author of multiple unpublished poems about millennial sadness, and aspires to one day make people laugh in exchange for food and shelter.
The Tech Club welcomes all ECs back to campus and is excited to have the new RCs join the HBS family!
Who We Are
Community: We are a group that shares the collective belief that technology can improve the way we do things. Over the years, we have fostered a tight-knit community of students and alumni who are interested or involved in technology, be it product managers, engineers, investors, or even career-switchers. Many of our members consider the club to be their “second home” during the school year, and we pride ourselves on the deep friendships and leadership opportunities that we help create.
Curiosity: We aim to educate our members on the cutting edge of technology and innovation across all industries. We help our members discover new roles, companies and innovators within the US and internationally.
Connection: The club’s extensive network provides unparalleled opportunities for our members to connect with start-ups, big tech, venture capital, and academia to support their personal and professional pursuits.
Let’s Get Tech-y
The Tech Club organizes a solid line-up of professional and social events throughout the school year, including exclusive treks (sold out every year) during the winter. Below, we highlight a couple of the more exciting events happening this fall and through the winter.
Tech Conference: The 24th annual Tech Conference will be taking place on Sunday, October 28, 2018. This is one of the largest conferences hosted at HBS – last year, we hosted almost 1,200 attendees. Our theme this year is “Tech: An Inflection Point,” within which we will have candid discussions around how technology is changing people’s lives for better or worse. We are expecting a variety of industry keynotes, demos that include leading augmented reality (AR) technology, and over 16 panels ranging from venture capital visionaries, to AI trendsetters, to diversity and emerging markets champions.
WesTrek: WesTrek is the largest and most prestigious professional trek at HBS, and it has been an annual tradition at the school for over two decades. Over the course of three days, students will meet dozens of HBS alumni and get the rare opportunity to have intimate meetings with executives (e.g. CEOs, CFOs) at companies across San Francisco and Silicon Valley. Last year, around 150 HBS students and over 50 companies participated in WesTrek. The trek offered an opportunity to meet with big tech names such as Facebook, LinkedIn, and Uber; venture capital firms such as Bain Capital, Bessemer, and Greylock; and exciting startups like Allbirds, Thumbtack, and Patreon.
NYTrek: NYTrek is traditionally a one-day trip where around 90 students get the opportunity to meet with a handful of companies in an intimate setting, followed by an evening of networking. NYTrek is more heavily geared towards startups, and more often than not, participants find themselves meeting with the founder, CEO, or COO.
BerlinTrek: In an effort to better connect HBS with the entrepreneurship, tech and venture capital community in Europe, BerlinTrek will bring students on an exclusive trip to meet with a variety of cutting-edge start-ups and venture capital firms in Berlin.
Aside from our conference and treks, we also host regular career and knowledge-building sessions, speaker panels, alumni networking events, and a variety of community-oriented social activities. We offer great recommendations for the more popular and helpful classes to take in the EC year to build certain skill sets for our members’ desired career paths. Finally, the Tech Club is a conduit for companies to share job and internship opportunities and host events to meet students face-to-face – in fact, a lot of our members have historically secured their internships or jobs either directly or indirectly through the club and our activities!
Want to Talk Tech?
We would love to chat with you about technology and the Tech Club. Our co-presidents, Dennis Chua and Danni Pi, are also available at your convenience.
The Tech Club sends our best wishes for the 2018-2019 school year!
Dennis Chua (HBS’ 19) is an investor and technology enthusiast. He is the co-president of both the Investment Club and Tech Club, and co-chaired the Investment Conference and WesTrek. Prior to HBS, Dennis did investing at D.E. Shaw, and investment banking at Goldman Sachs. He spent this summer at Tiger Management and Triarii Capital. Dennis received a B.Sc., summa cum laude, Tau Beta Pi, in Chemical and Biomolecular Engineering from Cornell University. In his free time, he enjoys thrillers and road trips.
The Investment Club is glad to have the ECs back on campus and extends a warm welcome to the new RCs.
Who We Are
The Investment Club is a career and social club, with a mission to improve members’ understanding of investment management; to help members develop practical investment skills; to create superior career access in the industry; and to create a community of HBS students who share an interest in and passion for investing.
The club is also proud of our extensive alumni network, with fund managers, analysts, and partners from every flavor of investment management including hedge funds, mutual funds, activist funds, asset management firms, family offices, and many more.
“FIN3” Syllabus
FIN1 and FIN2 are staple finance classes at HBS, but being a part of the Investment Club (“FIN3”) will help you translate some of the theory in the classroom to practical investing in the real world. The Investment Club organizes regular events throughout the school year aimed at education, career, and community-building. Below are some of the more exciting events in our Fall and early Spring line-up.
Alpha Fund: The Alpha Fund is a carve-out of Harvard’s endowment and is actively managed by members of the Investment Club leadership. The fund meets every other week and is a platform for club members to present and defend a stock pitch to the Investment Committee. These regular meetings facilitate idea generation, help students perfect their pitches, and build a tight community of students who are excited about personal investing.
Investment Conference: One of the club’s marquee events is the annual HBS Investment Conference. Last year, over 400 students and professional investors from across the U.S. packed Spangler Auditorium, with an additional waitlist of over 450 people. The audience was excited to hear from legendary value investors such as Seth Klarman and Li Lu, renowned activists such as Cliff Robbins, and quantitative investing prodigy Peter Brown (who also convinced IBM to build DeepBlue). The 2019 Conference is expected to set a new record in speakers and attendance. There will also be a stock pitch contest added to the program – for the bold and aspiring investors among us, this will be a great opportunity to share investment ideas with a panel of professional judges and take home valuable advice and prizes.
Investment Treks: The club will be organizing treks to visit renowned investors in Boston, New York City, San Francisco, Los Angeles, and potentially Chicago, London, and Omaha. Some examples of funds that we visited last year include ValueAct, Farallon, Maverick, Elliott Management, D.E. Shaw, Himalaya Capital, Fidelity, and many more. The treks offer an exclusive and intimate setting to get to know these successful investors, discuss their investment philosophies, and hopefully gain some sage wisdom.
Women in Investing: One of the major goals of the Investment Club is to improve female representation in the investment management industry. We aim to support women by organizing several dedicated professional and social events such as “Pitch Practice Wine & Cheese,” fireside chats with female investment professionals, small-group dinners, and so on.
Aside from our conference and treks, the club will host several programs throughout the year to educate members on the industry, assist with recruiting efforts, and foster a sense of community. On the educational front, we plan to arrange an EC/RC mentorship program, stock pitch 101 session, and resume review and mock interviews. In addition, the Club regularly invites leading investors and thought leaders for exclusive speaker/panel events – we are already expecting Seth Klarman (Baupost Group), David Abrams (Abrams Capital), and many more this year. We also plan to facilitate our members’ participation in more stock pitch competitions, including the upcoming Darden and Booth competitions.
Finally, the Investment Club is the first touchpoint for funds to share job and internship opportunities and host intimate networking events. Many of our members have historically been introduced to their internships or jobs either directly or indirectly through the club and our activities.
Buying Your First Stock?
We look forward to seeing our members at the upcoming Investment Club General Assembly on October 3. In the meantime, if you have questions about investing, our co-presidents, Dennis Chua and Delaney Martin, are always available at your convenience.
The Investment Club wishes our members and the rest of the student body all the best for the 2018-2019 school year!
Dennis Chua (HBS’ 19) is an investor and technology enthusiast. He is the co-president of both the Investment Club and Tech Club, and co-chaired the Investment Conference and WesTrek. Prior to HBS, Dennis did investing at D.E. Shaw, and investment banking at Goldman Sachs. He spent this summer at Tiger Management and Triarii Capital. Dennis received a B.Sc., summa cum laude, Tau Beta Pi, in Chemical and Biomolecular Engineering from Cornell University. In his free time, he enjoys thrillers and road trips.
The Retail and Luxury Goods Club successfully hosted their famous Annual Charity Fashion Show on October 25th at Boston’s Park Plaza Hotel. In the 2018 edition of the longstanding HBS tradition, the Fashion Show featured 35 RC and EC models, showcasing styles from top designers to raise money for the Greater Boston Food Bank. This year’s designer line up included Diane von Furstenberg, Cynthia Rowley, Lilly Pulitzer, Hugo Boss, Reformation, Rent the Runway, Ted Baker, Halston Heritage, Ministry of Supply and Kenny Flowers. With 400 attendees and these top-notch designers, the Fashion Show this year raised over $4,000 for the charity.
Guests started to arrive early and formed a line at the entrance before doors were open. The 200 gift bags didn’t last long shortly afterwards. Starting from the moment when the lead organizers Begum Agca Okutgen (MBA ’19), Brooklyn Coats and Sheetal Bajaj welcomed guests, the energy in Park Plaza’s Grand Ballroom was about to go very high.
Fashion Show organizers Begum Agca Okutgen, Brooklyn Coats and Sheetal Bajaj
After their energizing kick off, the lights dimmed and the hour long show started when Josephine Van Leeuwen (MBA ‘19) and Sud Murugesu (MBA ‘19), in their Ted Baker outfits, stepped on the runway in flashing lights and accompanied by pump up songs. After Josephine and Sud, one after the other, all HBS models, who were dressed to impress, began to shine their way through the runway. Their dance moves, graceful walks and amazing looks were more than enough to mesmerize the cheering fans and loving section mates.
As the runway was on fire with the models and the cheering crowd, in the back of the Grand Ballroom guests enjoyed various food and drink options and the chance to participate in a raffle featuring donations from brands including Rag & Bone, Moleskine, Pure Barre, Roscomar and Aesop.
The show’s closing heated up when the Kenny Flowers male swimwear line was introduced. James Lim (MBA ‘20) led off the swimwear section in style. Other models kept up the cool as they strolled down the runway accompanied by giant floaties. After Vai Schierholtz (MBA ‘19)’s epic finale, RLGC co-presidents Melissa Zoerb & Sergio Velasquez-Terjesen closed off the show and the runway turned into one big dance party!
The party continued at Icon, co-hosted by RLGC and the Euro Club. Kudos to RC Section G for winning the VIP section at the after party by selling the most tickets and having the most fun!
Let’s end hunger together!
Over the last 3 years, RLGC has donated over $20,000 to the Greater Boston Food Bank, the largest hunger-relief nonprofit organization in the Northeast. According to the organization, every $1 donated provides three meals for local families in need, with roughly $0.92 per dollar going directly to feeding families. In 2016, GBFB raised $15.5 million and distributed 48.1 million meals (82% of which met the highest nutrition standards). The organization serves 140,000 residents of Eastern Massachusetts each month. With Thanksgiving and Christmas holidays coming up, it is a great time to give back and make a donation to this important cause. For more information, please visit: www.gbfb.org.
Begum Agca Okutgen (MBA’19) is a second year MBA and a board member at RLGC and Euro Club. Begum was a management consultant at Bain & Company in London before HBS. She is passionate about social impact and is currently working on her own sustainable fashion brand.
The Tech Club at Harvard Business School’s annual Tech Conference took place on Sunday, October 28 on the HBS campus. This event (the first of its kind in the beautiful Klarman building) brought together hundreds of the country’s brightest technologists – from executives at big tech companies, to investors at the leading venture capital firms, to startups tackling the biggest challenges, to students hungry for knowledge and new connections.
Our conference theme was “Inflection Point.” We challenged our speakers to talk about the “hard topics” that are relevant to us as future technology leaders, and we challenged the audience to approach these topics with open minds and to continue these dialogues long after the conference had ended.
Highlights included:
Keynotes: Making better decisions, tackling workplace biases, and being radically transparent (in the most productive way)
Our first keynote speaker was Andy Ellis, the Chief Security Officer at Akamai in Boston. With a self-proclaimed mission to “make the internet suck less,” Andy spends his time thinking about cybersecurity, safety, and compliance. He took the stage to deliver his thoughts on why so many people make bad decisions and how we can avoid falling into the same traps.
Our second keynote, Kim Scott, was the renowned author of Radical Candor: Be a Kick-Ass Boss Without Losing Your Humanity. She was virtually beamed into Klarman Hall (the first such attempt in the new building – many thanks to the amazing HBS ops team) and moderated by HBS professor Ethan Bernstein.
For people looking to be a better boss but on the fence about the concept of “radical transparency,” Kim delivered a different way to frame the idea with practical tips for using the framework to fight organizational biases. A highlight was the open Q&A session. Props to our audience and to one attendee who displayed his own sense of radical candor with the question, “Is a hot dog a sandwich?” – to which Kim, without hesitation, responded, “No.”
The third keynote was Latoya Peterson, the owner of Racialicious.com and the former Deputy Editor of Digital Innovation for ESPN’s The Undefeated. Latoya sits at the intersection of emerging technology, race, and culture and is particularly qualified to talk to those topics. She observed the day’s events and prepared her thoughts for what we can do to foster a better ecosystem for all and to combat the insidious biases that present themselves in data and AI.
Our final keynote was a fireside chat between David Fialkow, co-founder and Managing Director of General Catalyst, and Brian Halligan, co-founder and CEO of Hubspot. This dynamic pair had great chemistry and energy and drew a particularly large crowd. The highlight of their far-reaching conversation may have been David passing around his Oscar, an award he won for the documentary Icarus in 2018. It’s heavy, and it’s real metal, folks.
Panels, Demos, and More
Besides the keynotes, this year’s Tech Conference also featured a whopping 21 fireside chats and panels with over 70 speakers from industry, including Ripple, Coinbase, Lightspeed Venture Partners, ElementAI, Boom, Facebook, Venrock, and more. In addition, we had live demos set up in Spangler Meredith Room. Highlights included:
Unity Technologies projected a beta build of their new product that will allow AR developers to use the Unity Studio to place AR objects with real-world contexts
Bumble was on-site to give attendees’ Bumble Bizz profiles much-needed makeovers
General Assembly gave advice to startups and students thinking about starting a company
A Retrospective – and Looking Ahead
When 6:30pm rolled around on Sunday, October 28, and the HBS cleanup crew began pulling the drinks from the open bar, we were left with two things. One, pounds and pounds of leftover fancy cheese (note to next year’s conference team: bring Tupperware). Two, a feeling of satisfaction that we had thrown another successful Tech Conference. We hope the attendees learned something substantial and will continue to draw on the new connections and friends they made at the conference this year.
On November 27, the HBS Cabaret brought entertainment to two sold-out audiences, one at 7 p.m. and another at 10:30 p.m., at the American Repertory Theater’s Oberon in Harvard Square. The theme was “Portrait Project” (following on last year’s “Truths Untold”), and as promised in the theme, an array of student performers painted vivid pictures of triumphs and struggles at HBS and in our careers to come.
After the ensemble welcomed the audience to the show, Shannon Wood (MBA ’19) kicked off the solo acts by singing about RC year, sharing lessons for the Class of 2020. The most important? “When Dean Nohria tells you he loves you, you’ve got to believe him.”
Following that uplifting note, Brandon Levin (MBA ’20) portrayed the joy of falling for one’s sectionmate—and the associated peril of humiliation. And thus began the catalogue of extremely divergent experiences that can coexist in the wild and precious lives of HBS students.
The other singers in the Cabaret, all of whom had solos, were Vaibhav Agarwala, Sara Appleton, Amanda Coleman, Camila Diehl, Ariel Finegold, Nicholas Fleming, Dom Furlong, Ellen Thuy Le, Michal Leszczynski, Viet Nguyen, Sarah Peck, Juan Quiroga Ponce, and your reporter. Also performing were Dilan Gomih, who served as master of ceremonies, and Spencer Fertig, who shared his stand-up comedy talents. A team of dancers from Beyond Dance accentuated the pathos of the songs with their choreography.
This year’s Cabaret was directed by Caroline Hunting. Meghan Mahajan was the executive producer. Music was directed by John Swisher, who also played keyboard alongside Steve Smith (bass) and Dan Frascella (drums).
“What I really love about the Cabaret is that it’s such a nice outlet for people to explore their creative side, especially in an environment like HBS where there is, of course, focus on academia and job searching,” said Swisher. “In that context, it’s nice to have this community where you can be creative and celebrate other people’s talents with the rest of the class and your peers.”
On today’s HBS campus, where an entire generation lasts only two years, students might assume that the Cabaret is a long-standing tradition. In fact, though, this year’s Cabaret was only the third.
To understand the history of the Cabaret, the Harbus spoke with Ophelia Chua (MBA ’17) and Raphael Roesler (MBA ’18). Both alumni now work in the theatre business.
The idea for the Cabaret began during the rehearsal process for the HBS Show in the spring of 2016. At that time, the Show was the only annual event in which students could showcase their talents in musical theatre. Chua and Roesler, along with Emily Song (MBA ’17) and Adam Gold (MBA ’17), began brainstorming ways to expand performing opportunities for talent within the student body. The next semester, the team of four turned their vision into reality.
The students behind the first Cabaret, which was performed in November 2016 with the theme “My Secret Identity,” had clear and compelling goals: to build a professional, accessible, and sustainable show with high production value, to create an emotional connection with the audience and a differentiated theatrical experience, and to provide a platform for performers and talents to shine through a hybrid of curated and scripted cohesive storytelling.
But they faced some steep challenges. At that time, the Cabaret was “basically a very quick-and-dirty startup,” Chua said. The creative theme, content, and structure all had to be decided from scratch, as did financing, logistics, and venue relationships. Marketing was difficult because many MBAs did not know what the “product” (a cabaret) actually was. Moreover, the team had to debate where to present the show and how to price tickets. Would students in the HBS bubble really venture off campus to experience a brand-new theatrical concept? And would they spend enough to recover the out-of-pocket investments that the team had made in upfront expenses?
It turned out that the answer to both questions was “yes.” (Regarding the latter, drink revenue from the cash bar at the Oberon did not hurt. “Since we chose to set prices low in order to underline the notion that the event is affordable and intended for the entire community, bar revenue was critical to ensuring that the Cabaret would be sustainable over the longer term,” Roesler explained.)
Though the Cabaret has matured as a concept, two things remain the same. One is that underneath the humor are serious themes—for example, the tradeoffs that many face between building wealth and pursuing a path about which they are passionate, or between slaving away in hopes of a promotion and keeping their soul. As students navigate these challenges, Chua said, “the Cabaret is there to say that you are not alone.” Her hope was that adding the Cabaret in the fall semester would stimulate conversations about these topics earlier in the school year.
The other constant in the three years of Cabaret to date is that the performances are consistently at capacity. Chua suggested that next autumn, the group offer more showtimes on an additional night. She was not in favor of moving to a larger venue, as the Oberon has an intimacy that she described as “magic.”
There should be no such capacity issues in April 2019, when the HBS Show will for the first time ever be performed in Klarman Hall. (To learn more about the newest building on campus, see “Klarman Hall Opens After Years of Planning,” November 2018.) Many of the performers from last month’s Cabaret will be involved in the Show—that is, if they can recover from their late nights at the Oberon in time.
Reflecting on the launch of the Cabaret led Roesler to share some advice for current students. “We highly encourage members of the community to create something new when they find a gap in the market that overlaps with their personal or professional interests! Ophelia (with our support) created Cabaret, and it was one of the most meaningful components of our HBS experience. In my EC year, working with producers and directors Kelly O’Grady and Amira Polack and stage manager Geoffrey Cheung cemented life-long friendships that I treasure greatly. I’m sure that there are many untapped conferences, events, and clubs that would flourish and contribute strongly to the HBS experience of many, and I hope that students will take the critical leap of transforming their ideas into reality.”
Gabriel Ellsworth (MBA ’20) came to HBS from HBS, where he worked for five years as a research associate, most recently as a casewriter with a faculty member in the Strategy Unit. He read English literature as an undergraduate at Yale.
Last month, 140 fellow HBS students attended WesTrek during the winter break. WesTrek is an HBS tradition with over 20 years in the books, attracting 300+ eager Tech Club members to enter the lottery to receive a coveted spot.
While soaking up the balmy 60 degree temperatures, this year’s cohort of Trekkies got to select from around 60 different Bay Area tech companies to visit over three days. Companies ranged from small startups still based out of living rooms, to venture capital funds, to household names like Google, Facebook, Uber, AirBnb, and Tesla.
WesTrek is organized by the HBS Tech Club, with support from the Bay Area Alumni Club, the HBS Admissions Office, and the VC/PE Club.
In addition to company visits, one of the highlights of the experience was the chance to connect socially with the HBS community on the West Coast. The trek featured dozens of alumni coffee chats as well as two happy hours, where Bay Area alumni, Bay Area admitted students, and Trekkies all mingled. (Feast on our mighty coast-to-coast experience, future HBSers!)
The planning team is incredibly grateful to the HBS alumni who hosted dozens of students for tours, panels, Q&A sessions, and coffee chats. We hope they enjoyed meeting current MBAs and took the opportunity to yell out “I’m from Section C!” and not get weird stares from their non-HBS colleagues.
Thank you to all students who attended and the companies who hosted us!
With at least one semester under our belts, most of us have dealt with the dreaded cold call. There was probably no one more prepared for their first cold call than improv enthusiast Adam Croft (RC Section F). Adam moved to HBS from Los Angeles, where he worked for Dollar Shave Club, a direct-to-consumer brand that delivers razors and personal grooming products by mail. It was in L.A. that Adam signed up for his first improv class over six years ago. He quickly fell in love with his new hobby, saying, “Improv has an amazing way of grounding you and making you present in the moment and just letting go. You get out of your head and just are free—free to play, free to listen to other people, free to work with the team.” Within a couple years, he was performing monthly shows with friends to sold-out crowds of over 100 people (although he tried to convince me it was crowds of 15,000 to 20,000 people). In Boston and missing his L.A. improv shows and community, Adam reached out on the HBS Facebook page to see if there were any improv enthusiasts in the class. After receiving interest from classmates who wanted to learn improv, Adam hosted an improv seminar class last semester. It was at this class that Adam and Jad Esber (RC Section I) saw the potential to start an official HBS club. Although Jad had little improv experience prior to HBS, he had planned to take improvclasses in the Boston community. But, he preferred the opportunity to learn improv through his HBS community, so the duo decided to try to make an official improv club. They pitched the idea to the HBS administration the one way they knew how … with a mock improv class. The administration loved the idea, and the HBS Improv Club became official last November. One of the first club members was Feifei Li (RC Section E). She attended her first improv show during the HBS Boston 101 activities. When she learned that her pal, Adam, had started the improv club, she decided to give it a try. In just a couple meet-ups, Feifei feels she has already gained so much from the experience. She says she’s learned: “Don’t be afraid of embarrassing yourself. Put yourself out there. Have the courage and confidence. Be unapologetic.” Her three goals with her HBS improv experience are to have fun, to learn something new, and to learn the best way to organize thoughts in a quick time frame (a skill she finds useful for case discussions). Jad agrees improv has helped with HBS case classes. He says, “Improv allows me to get better at spontaneously saying and doing things, which is great with cold calls. It’s not an alternative to reading cases, but improv definitely helped me get better at jumping in after a cold call and spontaneously sharing my perspective.” He says, “It’s also just really fun and a great way to do something different here at HBS.”
If you are interested in joining the HBS improv club, reach out to co-presidents Adam Croft and Jad Esber.
While being on stage is not for everyone, it is still fun to enjoy the art of improv by attending a show in the local Boston community. Recommended shows are:
ImprovBoston (Central Square, Cambridge)
Improv Asylum (North End, Boston)
Sh!t-faced Shakespeare (shows at The Rockwell, Davis Square, Cambridge)
Jill Langlas (MBA ’20) is originally from Wheaton, IL, and studied engineering at the University of Kansas. Prior to HBS, she worked in petrochemical manufacturing. She enjoys fitness, Crossfit, podcasts, and perfecting the panini.