Haas News
According to newly published data looking at the Top 10 of the 2024 U.S. News & World Report ranking, Stanford and Harvard graduated the most unicorn founders. But Berkeley comes in right after, at No. 3, making it the top public school for unicorn founders. Berkeley Haas produces 2.8 unicorn founders per 1,000 graduates.
What you see online can change how you think. Research co-authored by Assistant Professor Solène Delecourt surveyed results people get when they search for images of certain occupations. Compared to Googling text-based descriptions of occupations, the participants who used Google Images showed much higher rates of implicit gender bias.
The economy is strong, but many Americans feel it hasn’t delivered for them, said Laura Tyson, Distinguished Professor of the Graduate School. However, she argued that Donald Trump’s plans are a recipe for inequality. “The overall U.S. economy will be dragged down by a stronger dollar, retaliatory tariffs imposed by trading partners, and the business uncertainty resulting from Trump’s plans to upend the rules and change or terminate programs across all major government agencies,” she says.
With 1,811 founders and 1,642 companies, UC Berkeley is ranked as the No. 1 school for startups, according to PitchBook. Berkeley Haas professors and founders who got their start on campus noted the unique ecosystem sets it apart due to its location, resources, mentorship and collaboration. Anita Balaraman, MBA 08, and founder of Epixego, credits UC Berkeley with providing her the social and cultural capital necessary to succeed as an entrepreneur.
Associate Professor Matilde Bombardini says that it might be smart to make certain purchases in case a new Trump administration slaps high tariffs on goods from outside the U.S. “Can you anticipate certain large purchases?” she said. “For instance, many appliances and other durable goods come from China, so if you’re going to need a new washing machine, I would say yes, consider buying it now.”
Though Elon Musk is at Donald Trump’s side right now, the president-elect’s relationship with the tech industry is complicated. The idea that there’s a political battle pitting “small tech” against “big tech,” may actually be more about right-wing entrepreneurs against bigger, more oligarchical firms, said Member of the Professional Faculty Olaf Groth.
Even in industries where AI can outperform humans on technical tasks, trust-based relationships between businesses will maintain value, writes Professor Toby Stuart, the Leo Helzel Chair in Entrepreneurship and Innovation and faculty director of the Berkeley Haas Entrepreneurship Program. “By understanding these dynamics, business leaders can better navigate the seismic shift brought about by AGI, positioning their companies for success in an AI-first future,” Stuart says.
People are worried that Donald Trump will slash environmental regulations and allow for a surge of oil and gas drilling during his next administration, says Laura Tyson, Distinguished Professor of the Graduate School, in this co-authored article. But the situation with capital markets, political headwinds, and support for skilled trades are all forces working in favor of sustainability. “The world stands at the precipice of irreversible climate change,” the authors write. “We continue to believe, however, that we can pull back from the brink—the president-elect’s climate denialism notwithstanding.”
The “quote of the week” comes from an Energy Institute at Haas blog post by Associate Professor James Sallee, a research associate. “Unfortunately, the potential and elegance of pollution pricing runs into the reality that normal people generally hate the idea,” he says. He says pricing carbon raises the cost of gasoline, electricity, and the fossil fuels used for home heating, trading off visible costs today for less salient future improvements.
Research co-authored by Paul Gertler, the Li Ka Shing Professor of Economics and faculty director of the Institute for Business & Social Impact, has shown that a sugar-rich diet early in life had adverse health effects even more than fifty years later. Excessive sugar intake early in life led to a higher prevalence of chronic inflammation, diabetes, elevated cholesterol, and arthritis.
Research co-authored by Paul Gertler, the Li Ka Shing Professor of Economics and faculty director of the Institute for Business & Social Impact, has shown that a sugar-rich diet early in life had adverse health effects even more than fifty years later. Excessive sugar intake early in life led to a higher prevalence of chronic inflammation, diabetes, elevated cholesterol, and arthritis.
Associate Professor Adair Morse, the Soloman P. Lee Chair in Business Ethics, joined the podcast to talk about the use of AI in credit markets after her keynote address at the Federal Reserve of Boston. “There’s a general landscape of using AI for all kinds of provisions on lending to people, and there are some red flags,” she said. “We need to inform not just policymakers, but providers.”
Politicians are feuding in Germany over the economy. Professor Ulrike Malmendier, the Cora Jane Flood Professor of Finance and a member of Germany’s economic advisory council, criticized the the country’s balanced budget policy, known as the “debt brake.” She called for minimum quotas on state investments that would ensure that long-term projects are not always put on the back burner.
Confidence confers status, according to research co-authored by Professor Cameron Anderson, the Lorraine Tyson Mitchell Chair in Leadership & Communication II. His research found overconfident people turned out to have more influence on others, even if their confidence wasn’t based on real knowledge. As much as confidence brings rewards, however, it also brings danger. Research co-authored by Professor Ulrike Malmendier, the Cora Jane Flood Professor of Finance, found that overconfident bosses are much more likely to undertake acquisitions—and their acquisitions are also more likely to destroy value.