Financial literacy class prepares Cal athletes for the big business of pro sports

man teaching at white board
With the help of a grant from Robinhood, Professional Faculty Member Steve Etter’s Financial & Business Literacy for the Professional Athlete course will be reclassified as a full-fledged class rather than an independent study, which will allow more student-athletes to take it. Photo: Michaela Vatcheva

Shortly before Layshia Clarendon, BA 13 (American studies), was drafted into the Women’s National Basketball Association (WNBA), the Cal senior attended a pre-draft orientation. Clarendon raised a hand and inquired about matching 401(k)s. The people fielding questions were floored. They weren’t used to college students knowing what a 401(k) was, let alone being savvy enough to ask about matching contributions. 

“I remember going to that meeting and thinking, ‘Oh, wow, I already know some of this,’” Clarendon recalls. When it came to financial literacy, Clarendon was miles ahead of most of their peers—all thanks to an independent study course they’d taken with Haas professional faculty member Stephen Etter, BS 83, MBA 89, called Financial & Business Literacy for the Professional Athlete.

For more than 20 years, Etter has helped scores of UC Berkeley athletes prepare for the financial realities of turning pro. Everyone from football great Marshawn Lynch and quarterback Jared Goff to Olympic swimmer Missy Franklin and golf phenom Collin Morikawa, BS 19, have learned about navigating contracts, choosing advisors, budgeting, investing, and more for their lives post-graduation.

Collin Morikawa holding trophy
Collin Morikawa, BS 19, after winning the PGA Championship golf tournament in 2020 in San Francisco. (AP Photo/Jeff Chiu)

Now, all of these issues are relevant for students too. In 2019, legislation was passed—first in California, then later throughout the National Collegiate Athletic Association (NCAA)—allowing college athletes to earn compensation for the use of their name, image, and likeness (NIL) via sponsorships. No longer are questions about agents, contracts, and taxes part of a hypothetical future; student-athletes are facing them today, intensifying the need for Etter’s class. 

“I’m working with students who are putting a half to three-quarters of a million dollars in their pocket today,” Etter says. The trouble was that his independent study only reached a small number of students. This coming fall, with the help of a grant from Robinhood Money Drills, Etter is expanding his course and bringing it to many more UC Berkeley student-athletes. 

Mary Elizabeth Taylor, vice president of international government and external affairs for Robinhood Markets, Inc., says one of the company’s top priorities is providing the next generation with access to financial education. “Through the Robinhood Money Drills program, we are proud to give college students and student-athletes a strong foundation to responsibly manage their finances for the future,” she says. UC Berkeley is one of eight schools nationwide benefitting from the initiative. 

It’s how much you keep

The idea for an independent study for athletes first occurred to Etter when one of his students, Nnamdi Asomugha, BA 06 (interdisciplinary studies), approached him for some advice. Asomugha was preparing for the draft (ultimately a first-round draft pick by the Oakland Raiders) and was suddenly facing major decisions that would affect his economic future. Etter, one of the founding partners of Greyrock Capital Group, had been teaching corporate finance at Haas for nearly a decade by then. He favored experiential learning with real-world application, and helping athletes navigate the complex waters of a professional career more than fit the bill. 

Athletes turning pro find themselves in an unusual position, entering highly lucrative careers while having no financial training. The eye-popping mega-salaries that generate headlines are not the norm in pro sports, but starting salaries for many athletes are nevertheless substantial. Still, as former National Football League (NFL) player Justin Forsett, BA 14 (interdisciplinary studies), put it, “It’s not how much you make, it’s how much you keep.”

Forsett, who played pro football for nine years and is now an entrepreneur and motivational speaker, says taking Etter’s course gave him a real advantage. “There weren’t a lot of courses on financial literacy when I was a kid, in high school, or even in college,” he says. After gaining a solid foundation with Etter, he entered the NFL with what he calls “a conservative approach.” He explains, “I wasn’t going out getting fancy new cars. I knew it was about how much I could actually keep and save and invest in the right things.”

Keeping your future self in mind

Each year, Etter begins the class by sharing a series of sobering statistics: 78% of retired NFL players suffer financial hardship. Nearly 16% of NFL players have filed for bankruptcy. And 60% of former National Basketball Association (NBA) players are broke. These brief, cautionary tales drive home a crucial point that’s easily overlooked by young student-athletes: While the pros earn big salaries during their careers, those careers are often short and can be wildly unpredictable. 

“Steve tells us the reality,” says Cam Bynum, BA 20 (American studies), who studied with Etter and just finished his third season as a safety with the Minnesota Vikings. “The average lifespan in the NFL is three years,” he says. “If you’re blessed, you’ll make it to 10 years, maybe 12. So that means you’re retiring at 32 years old, maybe 35. That’s just half your life. So then, what are you going to do?” Without Etter to prompt them, many student-athletes might never give that question much thought.

Elijah Hicks, BA 20 (American studies), a safety for the Chicago Bears, says that one of the most valuable aspects of the course was that it forced him to think ahead. “I got to put myself in my future self’s shoes,” he says. “The class puts you in scenarios before you’re actually there, so now, I’m more prepared and I’m not surprised by anything that pops up, like taxes.” High-earning athletes, for instance, not only have to pay taxes in their home state but in nearly every state they play in, a fact that shocked many of Hicks’ first-year teammates—but not him. Etter also helped Hicks start a nonprofit, Intercept Poverty Foundation, to provide emergency grants to low-income UC Berkeley students during the pandemic.

Learning to ask the right questions

Since the course’s inception, athletes from a range of sports have studied with Etter, players heading to the NFL, NBA, WNBA, and Major League Baseball (MLB), along with swimmers, golfers, and water polo players. News of the class has tended to spread by word of mouth among teammates and friends, but Etter says coaches, too, have been instrumental in steering students to his door. “The Cal coaches have had the insight and caring attitude to make sure they prepared their athletes for the financial aspects of their careers,” he says. 

three students sitting with laptops in a classroom
(L-R) Destin Lasco and Tyler Kopp of Cal Men’s Swimming & Diving and Katja Wiersholm of Cal Women’s Tennis attending Steve Etter’s Financial & Business Literacy for the Professional Athlete independent study. Photo: Michaela Vatcheva

Not all professional careers are the same, however. Swimmer and six-time Olympic medalist Ryan Murphy, BS 17, knew he wanted to swim professionally after his success at the 2016 Rio de Janeiro Olympics, but he didn’t know what that entailed. In Etter’s class, Murphy’s fellow students that semester were heading for the NFL, but as a swimmer, Murphy’s professional path was less straightforward. “Our earning power is completely based on marketing,” he says. So Etter tailored the learning, helping him focus on finding a marketing agent.

“He connected me with people on campus and had me sit down for meetings with them,” Murphy recalls. Etter also encouraged him to talk to older swimmers who’d turned professional. “He was kind of a master connector for me.”

Getting out and talking to people is a big part of what Etter teaches. Whether it’s picking an agent, a financial advisor, or an insurance broker, knowing the kinds of questions to ask to make decisions that are in their own best interest is a fundamental skill he wants these athletes to learn. Sometimes, those questions come back to Etter himself. He continues to serve as a mentor to his student-athletes—they all have his number and aren’t shy about texting or calling for advice.

Changing the playing field for college athletes

Similar to professionals, NIL allows college athletes to engage in sponsorships and receive cash payments and gifts. For example, student-athletes may enter contracts to appear for autograph signings, endorse products via social media, conduct camps and clinics, post personalized video greetings, and more. However, the policy precludes students from entering pay-for-play contracts with colleges and universities. 

two men
Professional Faculty Member Steve Etter with UC Berkeley Junior Jaydn Ott, a California Golden Bears running back with a likely future in the NFL. Photo: Michaela Vatcheva.

Some Cal athletes secure deals on their own or through agents, while others are paid through the California Legends Collective, a newly formed organization (not affiliated with UC Berkeley) funded by donors who, together, create income opportunities like those mentioned above for Cal student-athletes. Advisory Board members include Lynch, Clarendon, and Murphy. 

Christian Trigg, MBA 23, director of brand development for the Cal women’s basketball program, says the new NIL rules benefit players and the team as a whole. “This is a huge opportunity for students to start building wealth at an earlier age,” he says. “Especially athletes who might be first-generation college students.” In his newly created position, Trigg will help members of the team build their brands and secure NIL sponsorships, which in turn will help attract talented recruits to Cal. As women’s basketball coach Charmin Smith notes, “Having a strong NIL presence is critical in today’s college athletics environment.” 

Cal football player Jaydn Ott is one of the students who’s benefited from Etter’s class while still at Cal. Ott, a running back with a likely future in the NFL, has begun earning money through NIL contracts, and he’s clear-eyed about the importance of financial literacy. “I want to understand what’s going on with my money when I speak to my financial advisors, so I’m not just giving somebody my money and saying, ‘Here, do whatever,’” he says. “I’m able to sit down and talk with them and understand what’s actually going on.” 

“I want to understand what’s going on with my money when I speak to my financial advisors, so I’m not just giving somebody my money and saying, ‘Here, do whatever.’ ” – Jaydn Ott, Cal running back.

Just like pros, college athletes need to understand the taxes they owe, and Etter makes sure his students do. “A lot of NCAA athletes don’t understand the difference in income and taxes between being a W-2 employee and a 1099 contractor,” he says. NIL compensation is entirely 1099, which means there is no tax withholding; players must pay estimated taxes. Etter suspects that more than a few student-athletes across the country will inadvertently fail to pay sufficient taxes. But Ott won’t be one of them. “After Jaydn got his first paycheck,” Etter says, “he put half away for taxes. And then he was worried, so he put half of the other half away for taxes, too.”

Spreading the wealth

Etter, who has three times won the school’s prestigious Earl F. Cheit Award for Teaching Excellence from his undergraduate students (once as a graduate student instructor), has long wanted to empower more students with the skills he teaches. Now, thanks to the grant from Robinhood, he’s going to. Starting this fall, the course will be reclassified as a full-fledged class rather than an independent study, which will allow more student-athletes to take it. The structure of the course is being retrofitted to accommodate up to 250 students while maintaining the active learning style that’s a hallmark of the class. Etter will be assisted by MBA graduate student instructors who are reflective of the diverse student-athlete population. 

The money is helping Etter fulfill a long-held goal. “My dream,” he says, “was to get this grant and to educate all 1,000 student-athletes at Cal.” From there, he says he’d like to bring the class to all NCAA athletes and ultimately to all 55,000 students on the Berkeley campus. 

Alum’s documentary ‘Fire on the Hill’ explores lives of South Central LA cowboys

Photo of a man in a baseball hat with a beard
Alum Brett Fallentine, director of the documentary Fire on the Hill.

Brett Fallentine, BS 03 (business), and BA 03 (film studies), is releasing his documentary Fire on the Hill: The Cowboys of South Central LA on several streaming platforms this month, including Amazon Prime Video. The film centers on a group of urban cowboys and the last public horse stable in South Central, Los Angeles—and the aftermath of a mysterious fire that destroyed it. PBS will broadcast Fire on The Hill in June to celebrate the federal Juneteenth Holiday. 

An award-winning documentary and commercial director, Fallentine started his film career as an apprentice editor to George Lucas on the film Star Wars, Revenge of the Sith. He now runs his own film company, Preamble Pictures. He is currently working on a new film about a family that defied all odds to survive the 2017 Tubbs Fire in Sonoma.

Haas News: So how did you find the story that became Fire on the Hill?

Brett Fallentine: I had heard about this riding community when I moved to LA, and I became really fascinated with it—the juxtaposition of this rural equestrian lifestyle in this neighborhood with rival gang culture located at the juncture of two major freeways in Los Angeles. It’s a place that you would never expect to see something like this happen but it’s this culture that’s been there since the1940s. A lot of famous riders have come out of this stable who’ve gone on to become world champions in rodeo, but no one really knew that at the time. Ultimately, that was one reason why I became so interested in the story. 

So how did you find the Hill?

I went to places where people said they’d seen the riders before and no one showed up. Through several trips, I found manure and followed a trail that led to the Hill horse stable. I started interviewing and one interview led to another and another and they invited me on a ride. I wasn’t sure of the story at first, but after the Hill stable fire, I started learning about the history of the stable, the impact it had on the youth in the community, and why having this culture was important for them. I ended up meeting their families and watching them grow up over subsequent years of filming. 

a man and a boy riding horses
A scene from Fire on the Hill.

Did making this film shatter a lot of stereotypes for you?

One of the big themes that started to emerge was that positive stories like this one don’t really emerge from South Central because popular media tends to focus on the area’s violence and crime. I grew up in the 1990s when movies like Menace II Society and Boyz n the Hood popularized that area. So I believed that part of LA was dangerous and I avoided it. When I learned that this riding culture existed it sparked my curiosity enough to go down there and see for myself. I became interested in the story behind the Hill and the community of riders I met really changed my mind and my feelings about this area in a way that never would have happened otherwise.


Watch the trailer for Fire on the Hill.

You track multiple stories in the film, all different and compelling.

We follow Ghuan Featherstone, who worked with the youth in the community at the Hill. Among the rival gangs, the stable has always been a neutral zone that provides a way for kids to not only work with animals but to work with kids from other neighborhoods who they would not normally interact with. Since the fire, Ghuan has started a non-profit inspired by the Hill Stable called Urban Saddles. We follow Chris Byrd, a rising bull rider from Compton, who enters his rookie year of professional rodeo. There’s also Calvin Gray, who having found freedom on the back of a horse, must choose between the cowboy lifestyle and his family. Their stories shine a fresh light on what it means to be a modern “cowboy” in an urban world.

Their stories shine a fresh light on what it means to be a modern “cowboy” in an urban world.

How did Ghuan work with local youths? Were there challenges?

The kids in the neighborhood would wander into this stable, just mesmerized. They would first learn to care for the animals and  eventually get to ride. But one of the quick lessons learned is that these animals are big and you can’t force them to do anything so you’re going to have to work with them. Ghuan told me about kids who learned to solve differences based on how tough they were. Soon they found out that you can’t really do that on a horse. You have to be willing to work with a horse and those insights started to carry over into how they were settling their differences back in their neighborhoods. That became an important message throughout the community.

Five men standing in front of a movie theater
Brett Fallentine (middle) with the cast of Fire on the Hill at the Santa Barbara International Film Festival.

How long did you work on this film?

I began filming in 2011 and the stable fire happened a few months into the process. The film took about five to six years after that to make because the subject’s stories were constantly evolving, even while we were in editorial.  So I’d grab my camera and follow up on their stories. We completed the film in 2019, and showed it at festivals. Amazon Prime picked it up and released it in 2020, a time when the world was focused on Covid. So we’re thrilled to have it re-released on streaming channels like Amazon and have it nationally broadcast later this year through PBS. 

We’re thrilled to have it re-released on streaming channels like Amazon and have it nationally broadcast later this year through PBS. 

You said that you rode horses during the making of Fire on the Hill. Where did you learn to ride?

I did have some experience riding as a kid and riding was something that was always around me, but I had never really learned to ride until making this film. The cowboys provided a lot of opportunities to ride in South LA after the cameras had wrapped for the day. The men and women there were very open and willing to teach me and it’s become more of a part of my life now.

You entered UC Berkeley as a molecular and cellular biology major. How did you land in film?

I switched majors my sophomore year, which is pretty late in the game, especially going from science into the arts and business. I had always been behind a camera as a kid, making little movies and commercials growing up, but my family was science-focused, so that was the assumed route. I was in class in a lab one day and there was kind of an epiphany where I was like, ‘I can’t do this anymore.’ and at that moment I switched from being an MCB student to double majoring in Film Studies and business at Haas. 

How do the two degrees work together in your career?

They work hand in hand. I started working on Star Wars, Revenge of the Sith during my last semester at Berkeley, and I was using a lot more of what I’d learned at Haas than I was with the film studies. Over the years, I’ve found myself going back to what I learned in marketing, accounting and organizational behavior. Film is a business and having that knowledge has been super important to me. 

RockCreek Founder Afsaneh Beschloss on the long-term value of impact investing

photo of Afseneh Beschloss
Afsaneh Beschloss

In a recent Dean’s Speaker Series talk, RockCreek founder and CEO Afsaneh Beschloss weighed in on the long-term goals of ESG and impact investing and how her firm allocates capital to diverse asset managers and underrepresented founders.

Global investment firm RockCreek holds $15 billion in assets to invest in a diverse portfolio that  integrates sustainability and inclusivity. “I like to call (our investment strategy) air, land, and water, because a lot of what we have all worked on traditionally is energy on land and food and agriculture,” she said during a fireside chat with Dean Ann Harrison. “But there’s also a lot going on with aviation fuels and, as we speak, we’re doing some early investments on alternatives to aviation fuels.”

Before starting RockCreek in 2003, Beschloss worked in economic development at the World Bank, where she rose to become treasurer and Chief Investment Officer. (Along the way, she met Michele de Nevers, the executive director of Sustainability Programs at Haas. Dean Harrison also worked as an economist at the World Bank.)

During her early career, Beschloss shifted focus from health to the energy sector, leveraging private sector investment as her group worked on projects to move countries away from coal to natural gas. As solar and wind technology started to develop, the World Bank began pioneering investing in these areas. “We got special grants from the Nordic countries to work on this in a number of countries that were well-suited for doing solar and wind,” she said. “And it was really quite spectacular to be investing in Latin America, in Africa, and in Asia in these cleaner forms of energy in the early days and doing environmental studies.”

Watch the video to learn how Beschloss’ early impact investments shape RockCreek’s investment strategy today. The event was co-sponsored by the Sustainable and Impact Finance Initiative at Haas.


New Conflict Lab walks MBA students through the toughest workplace conversations

student in Conflict Lab roleplaying with instructor
Pearly Khare, MBA 23, role plays with his ‘boss’ and course instructor Bree Jenkins, MBA 19 during a class session. Photo: Brittany Hosea-Small.

Pearly Khare, MBA 23, was in a difficult spot. His ‘boss’ was confronting him about taking off early for vacation, leaving his colleagues “in the dust.” “I definitely understand how that impacted the team,” he said, adding that he gave her and his team advance notice. Then he apologized. 

Afterwards, MBA students who had watched the interaction discussed Khare’s apology to Bree Jenkins, MBA 19, who played the role of his boss.

 “If we apologize, and we’re not even sure of what we did or we are not genuinely sorry for what we did, it can be another form of conflict avoidance,” says Jenkins, co-instructor of the new Berkeley Haas MBA pilot course Difficult Conversations: Conflict Lab, where students roleplay tricky situations that are dreaded at work. “We should ask ourselves if it’s just because we want to move past the discomfort.”

From delivering a poor performance review to providing a critical work project assessment to firing an employee, things often got “spicy” during the 10-week session, says co-instructor Francesca LeBaron, MBA 19. But the class isn’t about right or wrong or about debating morality. “It’s about maintaining connection, even when we disagree with the person,” LeBaron said. “What is your objective? Is it to make this person feel heard, to problem solve, or to share your own needs? And how effective were you at achieving that objective?” 

The new Conflict Lab extends learnings from longstanding Haas School MBA offerings including Teams@Haas, which delivers a common framework for teamwork across MBA programs, and the core Leading People course. It also compliments experiential learning on conflict management included in the class Leading High Impact Teams and the new core course Communicating in Diverse Environments. 

Do you want to be promoted?

Jenkins and LeBaron kicked off their new class with a speed conflict session (similar to speed dating) where students role-played a back-to-back series of conflicts to get a sense of the discomfort they would experience in the class. The exercise helped students to assess if this style of experiential learning was right for them. 

two students talking during class about having difficult conversations.
The class asks students to address the hardest parts of receiving difficult feedback. Photo: Brittany Hosea Small.

Ten undergraduate UC Berkeley students and a group of Berkeley Haas alumni—ranging from PWC partners to a Google exec to an NYU professor—also joined the class to play roles that would put students in the hot seat. 

In one session, alumna Kelly Deutermann, MBA 17, confronted Mridul Agarwal, MBA 23, about why he wanted to get off a project. Deutermann aggressively questioned Agarwal. “Do you want to be promoted? Do you want to be taken seriously? This is your chance.” When Agarwal explained that “it might not be the best project for me at this time,” Deutermann responded with, “This project needs to happen. Do you just not want to work hard to do it?” In this role play, Agarwal had to balance his own bandwidth and need for support with Deutermann’s demands for project management. 

After the difficult talk, Agarwal took a deep breath, and the two of them laughed and shook their heads. 

Friends coming up with solutions

Jenkins and LeBaron met in their first year at Haas. They were in the same cohort and found they shared a lot in common: They were both Consortium Fellows, student instructors for the Leadership Communications course, and board members for the Haas Center for Equity, Gender & Leadership (EGAL). After graduation, LeBaron went to work as an executive coach and mediator for startups at UC Berkeley’s accelerator SkyDeck; Jenkins runs leadership training courses as a senior leadership development associate at Pixar Animation Studios.

 “I noticed themes and trends with what we were doing at work,” Jenkins said. “There was conflict avoidance and harm from conflict that’s not dealt with effectively. We talked to friends in other organizations and we realized quickly that everyone is dealing with workplace conflict.” 

For example, LeBaron had recently coached startup founder and former Haas classmate Fahed Essa on how to fire someone. “Fahed is brilliant—has three masters degrees and has started three companies,” she said. “If he is still struggling with this, I bet many people are. I want Haasies to have this skill set that balances being compassionate with being honest and clear.”

After discussing the problem, Jenkins and LeBaron did what they were known for doing at Haas: they came up with a solution. With sponsorship from the Center for Social Sector Leadership at Haas (CSSL), they designed a syllabus for a pilot course completely devoted to managing difficult conversations. The class enrolled 32 MBA students, with a waitlist. 

To track their progress throughout the class, students provide one another with feedback, write papers addressing their own conflict styles, and identify conflicts in the media and how they can be improved using lessons from the course framework. “It’s really important that the students find ways to continue to practice this work after the class is complete,” Jenkins said. “They should have a clear understanding of where they are in their conflict journey and what they want to do to continue to grow.”

During their final class, Jenkins and LeBaron took on a role-play with each other. Jenkins played a manager criticizing an employee for botching a critical client presentation. “I expected more of you,” Jenkins said. “I’m hearing that my actions didn’t meet your expectations. Can you tell me more about what that looked like for you?” LeBaron said. After more back and forth, they drilled down to the core issue: Jenkins was frustrated and disappointed because she wanted to appear competent in front of the client. The two decided to review all future presentations together before going to a client.

LeBaron asked the class to consider what Jenkins felt. “I don’t know if I made typos, but in her mind I made those mistakes,” she said. Her objective, she said, was to better understand her boss’ experience and unmet needs. “I can still hold my experience as true for me, while being curious about understanding her experience,” LeBaron said. 

Student gives feedback during conflict lab
Students practice giving and receiving feedback after role-playing a difficult conversation. Photo: Brittany Hosea-Small.

Working past fear through practice

After the 10-week class ended, students who identified themselves as conflict-avoidant at the start of Conflict Lab said they were starting to work past it.

Daryl Pugh, MBA 23, an executive recruiter before he came to Haas, said he’s learning to be “comfortable with discomfort” and was already using what he learned in class to help a friend through the difficulty of laying off employees. “I tried to talk to her through having that conversation and processing other people’s feelings, understanding what was happening and her interpretation of what was happening. We had a couple of sessions.”

What Pugh said he found most surprising over the weeks was understanding how inaccurately he can interpret the actions of others. “We need to focus on not ascribing emotion to people that could be just wrong,” he said. “That’s how we are trained our whole lives, even in social settings, is to interpret other people’s feelings. The only way to know how a person is feeling is to ask. This class taught me how to get others to express their feelings, then I can move past my observations and interpretations to a new level of understanding.”

Mariam Al-Rayes, MBA 23, said the course provided a set of tools that she plans to use at work and beyond. “I wish we’d learned this earlier in life,” she said. “The role playing was so useful—like when alumni talked to us as our managers. It was realistic and we applied what we learned in class first-hand.” 

On the journey to create a new class of conflict-embracing leaders, LeBaron and Jenkins are well on their way—and plan to offer the class again in Fall 2023.

 

Headspace Health COO Karan Singh, BS 05, on finding purpose

Karan Singh, BS 05,  said his career purpose didn’t become clear until a life-changing event 13 years ago.

“I was on the other end of a phone call after a loved one had tried to take their own life,”  said Singh, COO of Headspace Health, during a recent Dean’s Speaker Series talk. “I’ve always thought of myself as a good read on people and a good judge of character, and I had no idea at all. I realized in a lot of communities of color—my family’s originally from India—that mental health is just the no-go zone. It’s the topic that no one talks about.”

That realization set Singh on the path to founding Ginger, a digital therapy platform that takes a preventative approach to mental health, in 2011. The company merged with Headspace, a meditation and mindfulness app, to form Headspace Health in 2021, a time of global need for mental health care services as the COVID-19 pandemic intensified behavioral health challenges.

During the DSS talk, Singh discussed the increasing level of investment in mental health care, and his excitement that more young entrepreneurs are joining him in mental health innovation.

“I want to say that mental health has made it into the forefront…I think we’re on that journey now. We’re having these conversations in rooms in government, in boardrooms, and in other settings that historically would never have been in the dialogue. So, we’ve come a long way, and still, there’s just a whole lot more we’ve got to do.”

The DSS talk was held with Google, part of a collaboration for The Haas Healthcare Association John E. Martin Mental Healthcare Challenge. The event marked the start of this year’s Challenge, which invites graduate student teams from around the world to develop creative solutions for improving the quality of and access to mental healthcare.

Two Berkeley Haas students chosen for Auschwitz professional ethics fellowship

Kanyinsola Aibana and Danielle Dhillon, MBA 22
Kanyinsola Aibana and Danielle Dhillon, both MBA 22

Kanyinsola Aibana and Danielle Dhillon, both MBA 22, will travel to Germany and Poland this summer to participate in Fellowships at Auschwitz for the Study of Professional Ethics (FASPE), an intensive 12-day program for students studying business, journalism, law, medicine, or religion. 

Fellows learn about the roles played by people in their professions in Nazi Germany, and explore the ethical issues facing those professions today. Daily seminars are led by specialized faculty who engage fellows in discussions and critical thinking about both the historical and the contemporary.

We interviewed both students about the fellowship.

What led you to apply to the FASPE Fellowship? 

Kanyinsola: I applied to the FASPE Fellowship because it would allow me to go beyond my core Ethics course and explore practical ways to address ethical issues as a business leader. I was intrigued by the structure and setting of FASPE, which provides a unique opportunity to delve into topics in business ethics, both historical and contemporary, and a forum to engage and learn from fellows from different graduate programs to create a genuinely enriching and impactful experience. FASPE will serve as a great capstone to my MBA.

Danielle: I applied to the FASPE fellowship because I truly see it as a culmination of my educational journey. I’ve always enjoyed my ethics and philosophy classes in undergrad and here at Haas. In college I minored in German and had the chance to study parts of the German economy via my finance and international business major. Being part of the FASPE Business Fellows community will give me a community to share with and learn from as we examine the role of business and capitalism in making the world a better place through a lens of the harm that it once contributed to.

What do you hope to take away from the trip?

Kanyinsola: I hope to take away tools to help me resolve, avoid, or prepare for the nuanced ethical issues I will face as a business leader. In addition, I hope to leverage the multidisciplinary discussions and different perspectives of other fellows to examine and better understand the actions and complicity of business executives during Nazi Germany and other contexts to reinforce my professional responsibility to promote ethical and moral decision-making.

Danielle: I hope to take away a renewed sense of what business ethics can and should look like, particularly given the ambiguity created by context and time. I hope to walk away with a better understanding of how systemic evil can make it impossible to make the right choices, especially for businesses. But I also am eager to hear stories of businesses that did the right thing—because we don’t tend to focus on those or have good, accessible examples of what ethical business leadership looks like.

How does the fellowship align with your career goals?

Kanyinsola: I aspire to be a business leader in the sustainable food and agricultural space. I am driven by a desire to promote individual well-being by facilitating access to nutritious food products while minimizing the detrimental impact of large-scale food production on the climate and environment. While I hope to be an innovator in this arena, I anticipate tension will sometimes arise in balancing my ultimate mission with the fiscal responsibilities of running a business. I want to be a business leader who continuously reflects upon and confronts ethical issues in all aspects of my business operations. FASPE will provide a great foundation to accomplish this goal.

Danielle: I came to Haas to pivot to a career in impact investing, where I will be responsible for advising and structuring investments that have a double or triple bottom line. In July I’ll be joining the Draper Richards Kaplan Foundation where I’ll source, evaluate, and select early stage, high impact social entrepreneurs to support via the model of venture philanthropy. This fellowship will give me an additional lens to truly become a prudent impact investor because business isn’t inherently ethical or unethical: business will always have the ability to perpetuate good or harm. An ethical capital allocator needs to be able to dissect and understand the potential harms as well as see the bigger picture if they choose to go forward.

Boba dreams: Undergrad student to open Aura Tea in downtown San Francisco

Photo of Kashish Juneja, BS 22
Kashish Juneja, BS 22, is opening Aura Tea shop in downtown San Francisco at the end of March.

Kashish Juneja, BS 22, is learning about running a business in real-time as she prepares to open startup Aura Tea’s first shop in downtown San Francisco on March 27. In between juggling a mid-term and going to class she’s taking calls from her contractor and interviewing for counter help at the shop that will serve boba tea with a twist: It’s sugar free, made with plant-based milks, and under 100 calories. 

“It’s insane from the operational side,” said Juneja, whose first shop is strategically located on Spear Street across from Google and Databricks offices, where employees are starting to trickle back. “We need to make sure there’s a demand and that we’re making sure the product is good enough so that people will continue showing up.”

In many ways, Aura Tea has been a team effort from the start. Juneja recruited 22 interns from the UC Berkeley community who help with marketing, TikTok, and Instagram, where she’s drawn support from NFL players to local musicians. Students and Cal athlete ambassadors helped her host on-campus events that offer “boba for de-stressing”—and she recently held a pop-up on Telegraph Avenue in Berkeley, giving away Cal-themed boba tea drinks.

Aura Tea space on Spear
Aura’s new shop will open March 27 on Spear Street in San Francisco. Photo: Kashish Juneja.

Kaitlin Dang, BS 24, an intern who serves as business growth lead at Aura Tea, said her favorite Aura flavor is mango pineapple.

“Before I started working here I was an avid milk tea connoisseur, trying new places,” said Dang, who is in  her second year of the Berkeley Haas Global Management Program. “My taste has changed from sweeter teas and now I drink a lot of fruit teas. Most fruit teas are very sweet and not refreshing. Aura tea has a refreshing taste.”

Solving her own problem

Juneja, who grew up in Cupertino, has always loved boba. “Our high school was boba central, with a boba shop across the street that was open during lunch every day,” she said. “I played tennis every day so it balanced out.”

Photo of Kaitlin Dang drinking boba
Kaitlin Dang, a sophomore in the undergraduate Global Management Program at Haas, is Aura’s business growth lead.

Her boba addiction continued at Berkeley, but drinking those 500 extra boba calories without her usual tennis playing led to an unwanted 30-pound weight gain. Aura Tea, she said, was founded in part to solve her own problem.

The idea to start making healthier boba tea emerged during a Plant Futures course that she took with Will Rosenzweig, the faculty chair of the Center for Responsible Business at Haas who co-founded the Republic of Tea.

She’d already taken an entrepreneurship bootcamp and was interested in starting a company. Plant Futures, a collaboration between Berkeley Haas, Public Health, Engineering, Public Policy, and the Berkeley Food Institute, pushed her idea forward.

Throughout the pandemic, Juneja could be found crafting tea in her apartment, testing different oat, almond, and pea milks, which make her tea drinks vegan, and sweeteners, using fresh loose leaf green and black teas from the grocery store. (Boba pearls are naturally vegan, as they’re made of tapioca starch, which comes from cassava root.)

Juneja tested her teas on friends and classmates. In the early recipe days, she conducted a blind taste test: her milk tea against the Boba Guys’ tea and others. (Boba Guys was co-founded by Andrew Chau, MBA 11.)  “We didn’t win but it was a good start,” she said. “Our taste was nowhere that it is now.” 

It took time to get Berkeley-based impact investor David Jiang to take a chance on her venture, she said. Jiang’s wife’s father was a tea farmer in China, and they all shared an interest in tea. “There was a lot of making it and taking it back to them,” Juneja said. “I was taking what I learned in class and bringing them my tea and my pitch deck.” 

I was taking what I learned in class and bringing them my tea and my pitch deck.

Valuable startup experience

The shop, which will take to-go orders online, will offer a combination of grab-and-go and fresh-brewed drinks with boba tea in flavors including strawberry, matcha, pineapple, and mango. Aura will offer coffee drinks, too, and a masala chai with infused with spices and CBD for relaxation. (Aura’s boba pearls are made by US Boba Company in nearby Hayward, Calif. Her tea is sweetened with Purecane, which she says she chose for its lack of an aftertaste.) 

Students drinking boba at an Aura Tea rooftop party.
Students sample the tea on a campus rooftop last week during Aura Tea’s launch party.

Dang said she’s getting valuable experience working for Aura. “There’s a lot of creativity involved,” she said. “I have the space to try the things I want to try. We’re appealing to a certain wide demographic: corporate employees, health influencers, healthcare professionals, and foodies. I like to try things I’ve seen work in other industries, casting a wide net.”

Juneja, who will work in the shop part-time until graduation, said she’s grateful to her entire community of classmates, professors, and advisors for all of their help with Aura’s creation.

 “When I wrote my essay to get into Haas I said I wanted to solve a problem,” she said. “My dream came true.”

California Surgeon General Nadine Burke Harris on being a changemaker

Every semester, Berkeley Haas Lecturer Alex Budak kicks off his class on Becoming a Changemaker with examples of changemakers who inspire him. For the past two years, he’s led with childhood trauma expert Dr. Nadine Burke Harris, California’s first Surgeon General.

On Nov. 9, his students got to hear directly from Burke Harris, who answered their questions virtually as a guest during class.

“She charts her own path in everything she does,” Budak said. “From being the first-ever Surgeon General for the State of California to championing a crucial-but-overlooked aspect of childhood health, she doesn’t have a playbook to follow. She invents it herself, every day—and she does so in a way which is empathetic, humble and tenacious.”

Burke Harris, who has established early childhood, health equity, and toxic stress as her key priorities, is the author of The Deepest Well, which addresses how deeply bodies can be imprinted by or Adverse Childhood Experiences—or ACEs—like abuse and neglect. The ACEs Aware initiative is a first-in-the-nation effort to screen patients for Adverse Childhood Experiences (ACEs) to help improve and save lives.

The pandemic has worsened mental health for many, and Burke Harris pointed to the American Academy of Pediatrics, which just announced a national mental health emergency for children.

“We recognize that (the pandemic is) also this massive, massive stressor and there’s never been a more important time for us to implement trauma-informed systems and trauma-informed care at scale,” Burke Harris said. “A lot of my focus, in addition to helping with vaccines and thinking about our rollout, is our strategy for equity, which is another huge thing right now because when you have a public health emergency, it doesn’t effect everyone equally.”

Being a changemaker is about more than working hard and being intense, she said. “I work hard, that’s no joke,” she said. “But it’s really that ability to replenish ourselves, that ability to nourish ourselves and take breaks and be joyful and really integrate the work we do and our purpose, also with our lives, I think allows us to sustain the work we’re doing and it also cultivates creativity and innovation and all of things that help us be more successful and change-making.”

Asked about a changemaker she admires, Burke Harris described a Google-organized dinner she attended, where she met lawyer Bryan Stevenson, the founder and Executive Director of the Equal Justice Initiative. Stevenson worked on Supreme Court decisions to prohibit sentencing children under 18 to death or to life imprisonment without parole. “That was a total changemaker moment,” she said. “It was so joyful to talk to someone who was similarly passionate about caring for our vulnerable community members.”

This video is also listed as a Dean’s Speaker Series talk.

Poshmark’s Manish Chandra, EWMBA 95, on how clothing creates community

As CEO of Poshmark, Manish Chandra, EWMBA 95, constantly questions how and why people shop, and the journey clothing takes from the supply chain to closets to resale.

Manish Chandra, MBA95
Manish Chandra, EWMBA 95

A decade after he graduated from the evening & weekend MBA program, he started the pioneering social shopping platform Kaboodle, which he sold to Hearst two years later in 2007.  Poshmark, a social marketplace for new and used clothing and accessories that he founded in 2011, focuses largely on extending the life cycle of clothing.

In a Dean’s Speaker Series event on April 9, MBA students and Robert Strand, executive director of the Center for Responsible Business at Haas, interviewed Chandra about how he embeds sustainability into the core of his business, his journey as a leader, and his vision for the future of capitalism.

Here are a few highlights from the interview.

On the meaning of clothing: “Clothing really binds people together. It brings a sense of community, it empowers people, it makes people feel good, proud. It can uplift people.”

On Poshmark’s rise in popularity during the COVID-19 pandemic: “Covid 19 was a seismic shock and a very sad shock for all of us. We’re still reeling from it. We’re isolated and we’re not physically connected. The circular economy and the resale really was in many ways a connector. When you bought and sold things from each other it connected you to another human being. It gave you something that was very powerful, that took energy to do. We saw the rise of second hand.”

On capitalism in the post-pandemic world: “We’re at a very powerful moment in our history…As we come out of hiding places and the world reintegrates over the next few months, I feel like everyone is looking at their life and looking at their values in a very different way. And as we go out and truly experience both the wonder of human connection and the misery that people have had, it’s a really important time to transform how we feel about consumption, how we feel about capitalism, and how we feel about sustainability. I think all three things can exist in a meaningful way.”

On getting an MBA: “Haas is, for me, one of the most transformational experiences, particularly because it happened after I’d worked for a few years and I was looking at finding that next level of growth for me.”

Watch the full interview: