Experience Stern | News & Events

Excerpt from Forbes -- "If you can engage your strengths, you’ll find more gratification in work; if you find gratification, you’ll shift into a more positive, approach-oriented mindset; and in such a mindset it will be easier for you to see the bigger picture—the contribution you are making to a larger enterprise—within which your job might turn into a calling. Work at its best, then, is about connection, engagement, and commitment."

Excerpt from Fox Business -- "I think it's less about Uber and it's about the sharing economy. This is the biggest thing that investors have been excited about in a long time. The reason why? The sharing economy - it's not just an economic revolution, it's a behavioral revolution. These companies like Uber are shaping and changing behavior."

Excerpt from Fox Business -- "You've got to be about sales and distribution at this point. You've got the platform, it's all about making that pitch pitch-perfect for the venues - what are the advantages in making the change because they're steeped in inertia, these whole point-of-sale systems. That's going to be the big challenge for you guys."

Excerpt from Techonomy -- "Conversely, big cities—as progressive as they might be—often struggle to attract sharing platforms because of their strict and complex regulations. Such cities should be updating their regulations, Sundararajan said, because cities that embrace the sharing economy will see more economic growth than cities that don’t."

Excerpt from Fortune -- "Kim Schoenholtz, a professor at NYU Stern School of Business, said that, to make a real difference, the ECB would have to buy around €1 trillion in assets, but said that would involve buying all manner of low-quality debt and would trigger yet another political storm. 'Unfortunately, it’s very difficult for them to have a substantial impact without breaking glass,' Schoenholtz said."

Excerpt from Financial Times -- "Scott Galloway, clinical professor of marketing at the NYU Stern School of Business and founder of L2, a think-tank for digital innovation, advises: 'The best collaborations let bloggers do what they do best: curate content that resonates with their established audience. Discerning readers will quickly detect when a blogger has gone corporate.'"

Excerpt from The Globe and Mail -- "Figuring out the backdating issue began in the 1990s with research by David Yermack, a finance professor at New York University. His work showed that several companies were awarding options and then seeing the stock price rise after the grant date. He believed executives were using insider information to pick the dates, knowing positive news was in the works which would drive up the price. (This is known as spring-loading)."

Excerpt from Business Insider -- "Since that was more than three times higher than any other NBA team had sold for and matched the price tag for the most expensive sports franchise sale in US history (the sale of the Los Angeles Dodgers in 2012), the bid raised questions about whether a sports franchise can be valued, how it is priced and whether there is an ego premium embedded in this particular offer. I am not a Clippers fan, but I love sports, and these questions not only deserve answers but have broader implications for valuing entertainment and media businesses."

Excerpt from The Huffington Post -- "Economist William Baumol noticed that in certain of our endeavors labor costs continue to rise though labor productivity does not increase. His famous example was a Beethoven quartet which takes exactly as much time to play today as it did one hundred years ago and with exactly the same number of players. But those musicians now make more money."

Excerpt from Harvard Business Review -- "Boeing’s decision to minimize its assets was made with Wall Street in mind. RONA is used by financial analysts to judge managers and companies, and the fixation on this kind of metric has influenced the choices of many firms. In fact, research by the economists John Asker, Joan Farre-Mensa, and Alexander Ljungqvist shows that a desire to maximize short-term share price leads publicly held companies to invest only about half as much in assets as their privately held counterparts do."

Excerpt from CNBC-TV18 -- "Nobel laureate and an acknowledged authority on growth and policy in developing countries, Spence feels that on policy side, the government should have an open approach. 'The potential in India is enormous. The human capital, the talent and so on, it’s just a matter of getting the obstacles out of the way,' he told CNBC-TV18’s Latha Venkatesh."

Excerpt from Project Syndicate -- "The main causes of these trends are clear. Anemic economic recovery has provided an opening for populist parties, promoting protectionist policies, to blame foreign trade and foreign workers for the prolonged malaise. Add to this the rise in income and wealth inequality in most countries, and it is no wonder that the perception of a winner-take-all economy that benefits only elites and distorts the political system has become widespread. Nowadays, both advanced economies (like the United States, where unlimited financing of elected officials by financially powerful business interests is simply legalized corruption) and emerging markets (where oligarchs often dominate the economy and the political system) seem to be run for the few."

Excerpt from The Wall Street Journal -- "Psychologists have long known that different cultures tend to think differently. In China and Japan, people think more communally, in terms of relationships. By contrast, people are more individualistic in what psychologist Joseph Henrich, in commenting on the new paper, calls 'WEIRD cultures.' WEIRD stands for Western, educated, industrialized, rich and democratic. Dr. Henrich's point is that cultures like these are actually a tiny minority of all human societies, both geographically and historically. But almost all psychologists study only these WEIRD folks."

Excerpt from The Huffington Post -- "We have learned a lot about the nature of humankind since the 1950s. In his best-selling book "The Righteous Mind," social psychologist Jonathan Haidt likens the human mind to a rider (reason) on an elephant (intuition). Back in the 1950s we thought that the rider was in charge, or ought to be. Evidence is accumulating from several fields that this view is wrong; the elephant is in charge and the rider is a much better rationalizer in hindsight than a reasoner in prospect. It seems that, with our limited conscious mental capacity, our minds have evolved to make fast 'good enough' decisions under pressure of time and conditions of uncertainty. Sometimes, especially in evolutionarily unfamiliar contexts, these intuitions play us false, but most of the time they work just fine and we couldn’t live without them."

Excerpt from CCTV -- "Now that China's become the world's largest investor – investing twice as much as the US last year in real terms, so it's really the largest investor by a wide margin – the efficiency of China's investment is a matter of global concern. And China's financial system will largely determine the efficiency of that investment because it's the financial system that decides which projects get financed. And China's financial system has been dominated by its banking sector, while the stock market's been a bit of a side show. But what our research is finding is that China's stock market is actually doing quite well and probably deserves more attention and more capital."

Excerpt from CNBC -- "'I think the central bank is making occasional interventions to make traders understand that this [the yuan] can go up or down. It does look like tactical maneuvering more than anything else,' Michael Spence, professor of economics, at the NYU Stern School of Business, said on CNBC, with regards to whether the central bank was deliberately guiding the yuan lower in order to support the economy."

Excerpt from WIRED UK -- "The next time someone says that Twitter is worth $50 billion because it's going to have $100 billion in advertising revenue, stop them and ask, 'Well, if it's going to have $100 billion in ad revenue, then who's losing? Because it can't be coming from The New York Times, as most newspapers are penny change in this market. It's got to be coming from Facebook or Google. So if you have Twitter, Facebook and Google in your portfolio and you're telling me that each of these companies is going to be collecting enormous revenues, then I have a problem. Because you have all winners and no losers. It's not a zero-sum game; at some point for every winner there have to be some losers."

Excerpt from Ecommerce Times -- "'In the case of Zappos, because it is about prospective job candidates, people are going to be very measured and selective about what they say and do on these internal forums,' Ghose told the E-Commerce Times. 'They would want to give the best possible impression to prospective recruiters, and so their content will be very carefully curated.'"

Excerpt from CNBC -- "It looks like China is not scheduled for any kind of hard landing as far as I can see, and they're really just nervous because they're waiting for the household sector to kick in and sort of help out because the export sector is contributing next to nothing to growth and they don't want to overuse the investment lever."

Excerpt from mbaMission -- "An expert on game theory and its practical application to business strategy, Adam Brandenburger ('Game Theory and Business Strategy') was voted the NYU Stern MBA Professor of the Year in 2006, and in 2008 received an NYU Excellence in Teaching award in recognition of his teaching and course development work."

Excerpt from Mashable -- "'I've noticed that in cities where Uber competes with Lyft, the pricing is substantially lower than in markets where they don't compete,' said Arun Sundararajan, professor of Information, operations and management sciences at New York University. 'New York is one of the markets where they don't compete with Lyft.'"

Excerpt from Forbes -- "One theoretical economical model that comes to mind that supports Kelly’s belief is Michael Spence’s signalling model of education. In this model, a person with high ability, ability that cannot be directly observed by prospective employers, looks for some way to signal that ability to differentiate himself from lower ability competitors."

Excerpt from The Globe and Mail -- "In the retail sector, Mr. Galloway argued that Amazon.com Inc. is a big winner at the expense of brands that have weak digital strategies, such as Target. He offered what might be the best metaphor I’ve ever heard to explain what Amazon is doing by building gigantic fulfilment centres outside of urban areas. He suggests that while the cable company is your conduit for digital bits (think cable modem service), Amazon’s fulfilment business is set to become your conduit for atoms (physical stuff). Because Amazon spends so much money on technology and fulfilment, Mr. Galloway says it’s like they’ve gone underwater with a huge oxygen tank and forced their competitors, who have much smaller oxygen tanks, to dive down too. He calmly predicts that the weaker players will run out of air and drown."

Excerpt from Financial Times -- "I think the best way I can explain [the difference between price and value] is with an analogy. Let's suppose you go to look at a house that you want to buy. Your realtor points to the house. She names a price, or he names a price, and you say, 'Where did you come up with that number?' And the reality is, he or she came up with that number by looking at other houses in the neighborhood and what they sold for. A lot of people invest the same way. If you ask them, why are you paying $50 for Twitter or $600 for Apple, the reality is they haven't valued the company in any real sense, they've priced the company by looking at what other people are paying for the stock. That's the essence of the difference. Price is based on what other people pay. Value is based on what you think you can get back in cash flows from investor."