Experience Stern | News & Events

Excerpt from Marketplace -- "A lot of the innovation that we're seeing with what are called the sharing economy platforms - be it Uber or AirBnB or Etsy or Instacart - rests on the fact that they have invented a new way of organizing economic activity and we want to nurture that. We want to protect labor, of course, but we don't want to do it by pulling these companies back to 20th century employment models."

Excerpt from The Huffington Post -- "As countries prepare for this on-demand future of work, it is crucial that their social safety nets -- ranging from health and insurance benefits to paid vacations and stable incomes -- are not lost in the transition. The challenge is especially acute in economies like the U.S. and the U.K., where access to such benefits is very frequently tied to full-time employment in a corporation or with the government."

Excerpt from Bloomberg -- "China is in an economic slowdown, but I think that the markets have gone from extreme optimism a few months ago, to soft landing, to now the view of a real hard landing, that the economy is in free fall. My view has been all along that the Chinese slowdown is going to be a bumpy, rough landing, but something short of a real hard landing. So I think that markets are becoming too pessimistic about Chinese economic growth and the ability of the policy authority to manage that growth slowdown and also to manage the movements of the currency and of the stock market."

Excerpt from The Wall Street Journal -- "Most people who sign up for an unlimited service subscription expect to up their consumption, she says. But after a week’s binge, 'You’ll return to your former state.' Still, unlimited plans offer intangible benefits. Consumers love the feeling of freedom, she says. And studies have shown that the psychological pain of paying $120 at the start of the month is far less than shelling out $4 a day for a morning cappuccino."

Excerpt from Exame -- "'It is not a coincidence that [Indian executives] have reached prominent positions so quickly in the technology sector,' says economist Pankaj Ghemawat, professor at the IESE Business School in Barcelona and at New York University... [While] it is difficult to prove the hypothesis of an appropriate style of management, ‘some research shows that Indian executives have high emotional intelligence…'"

Excerpt from WIRED -- "Getting these new frameworks right in New York City is particularly important, says NYU Stern School of Business professor Arun Sundararajan, who is a member of the advisory board. 'The services in question are more fundamental to our day-to-day life than in most other cities,' he says. 'A number of cities around the world will look to New York as the template, as the model of how you deal with this kind of digital disruption in a forward-looking way.'"

Excerpt from CBS News -- "Despite the market upheaval caused by China's slowdown and the hit Canada is feeling from the collapse in oil prices, A. Michael Spence, a Nobel laureate and fellow with the Council on Foreign Relations, remains sanguine. 'China and the markets really overestimated on the demand side, and what China was doing was just not sustainable economically or environmentally,' Spence told CBS MoneyWatch. 'The export markets (China was) selling into were no longer growing at the rates they once were.'"

Excerpt from HuffPost Live -- "I don't think anybody would argue against the fact that it's good to provide workers with protections. I think the larger issue at stake here is whether we want those protections to come by boxing people who have a wide range of flexible work arrangements into one of these categories of employee or independent contractor, or if we want to actually reflect the reality of today's marketplace, where people have a wide range of flexible forms of work, and start to expand the set of categorizations that are made available to companies like Uber and Lyft."
 

Excerpt from Poets & Quants -- "Being a rising senior at NYU, Goel firmly believes that Stern enabled him to walk into his internship with LinkedIn and make it successful. 'NYU is cool in that it’s not a school that spoon feeds you. But if you want to pursue something, you have all the opportunities and resources you need. This enabled me to tackle things that may have been beyond my scope, which has been very valuable coming into LinkedIn. Here, I can easily take what resources I have and pursue something I’m interested in or use the tools available to me to solve a challenge on my own.'"

Excerpt from Inc. -- "In March, New York University’s Stern School of Business released a study that demonstrates something most people know intuitively: Serial entrepreneurs fare better when they stick to their knitting. Startup founders benefit from the experience gained running a prior business in the same industry, even if that prior business failed. 'Leveraging your industry-specific knowledge from one venture to the next can be incredibly valuable,' says J.P. Eggers, an associate professor at Stern."

Excerpt from Financial Times -- "In a thoughtful article earlier this summer, Stephen Cecchetti and Kermit Schoenholtz argued that a pan-eurozone deposit insurance scheme would be cheaper and more effective than national insurance schemes — much as in the US, the Federal Deposit Insurance Corporation has done a better job than state-run ones. The authors note that the last state-run deposit guarantee schemes in the US failed in 1985."

Excerpt from Accepted.com -- "First, recognize that failure is inevitable. Nobody who's been successful in a career in a corporation or in financial services can say that he or she has been successful without failing. How you react to a failure is going to be much more important than anything else you do in an organization. It will be much more important to anything you do to be a guarantor of your future success. If you react to a failure by getting depressed and by losing your will to go on and be as enthusiastic and as driven as you were prior to the failure, you will have lost the game."

Excerpt from Financial Times -- "Damodaran makes the case that just about everybody can be fooled by the big market phenomenon and that bubble-like situations can thus arise. For example, he takes a situation where a big market exists and a whole load of overconfident VCs are backing a whole load of entrepreneurs who think they can fill said market’s potential."

Excerpt from Delta Sky Magazine -- "'Being at the center of world business here in New York, our educational offerings and students are at the pulse of what's happening now and trending with what's going on in the near future,' [Gallogly] says. 'We've definitely seen a diversification of student interests and have met that with a diversification of our educational offerings.'"

NYU Stern welcomes new faculty for the 2015-2016 academic year.

Excerpt from Portafolio -- "We tell officials in rapidly growing cities that they have to set aside now the public space in the area where the city is likely to expand. To stay ahead of rapid growth, the city needs to look far into the future. We encourage cities today to plan for the expansion that will take place between now and 2050 under a fast growth scenario. If the city is growing rapidly, this can require a plan that could accommodate a 10-fold increase in the city’s built area. The land can continue to be farmed until the expansion comes. If there is less growth and the city does not need all this land for urban expansion, there is virtually no cost to having planned for too much. In contrast, if a city does not plan for enough and it suffers from disorganized informal development, the cost is very high."

Excerpt from TheStreet.com -- "'Board service is becoming more and more demanding,' [Brenner] said. 'As a result, there's more of a tendency to specify limits on the other boards and other committees that directors can be on.'"
 

Excerpt from Vox -- "The interesting question is: What does it take to have a stable currency area? In my view, the traditional approach missed the most important piece –the banking union. Forget labour mobility, a common language, or even a federal budget.(1) A banking union is the one piece of financial architecture that should have been built before the crisis."

Excerpt from Foreign Policy -- "But as the episode unfolds, you realize some things about the use of debt-fueled stimulus for the economy... It produces short-term gains by making investment and output seem stable but carries the long-term risk of a protracted slowdown... It seems each country needs its own crisis to learn the hard lesson. It must be that the underlying political imperative to generate short-term growth at all costs is too strong, and political time horizons are far too short."

Excerpt from Politico -- "'The right path forward would be to just recognize that there is a different kind of company-worker relationship that’s being created here,' Arun Sundararajan, a business professor at NYU who focuses on the sharing economy, told me a few months ago. 'That it’s somewhere in between from being an arm’s length independent contractor and being a full-time employee.'"
 

Excerpt from Marketplace -- "Arun Sundararajan, a professor at New York University's Stern School of Business and an expert on the digital sharing economy, says the way to protect employees isn’t by making everyone a traditional employee. 'Instead we should sort of translate ... the rights that full-time employees have to a broader spectrum of the economy,' he says."

Excerpt from TheStreet.com -- "If you want to make more money from trades linked to corporate earnings, then head for the Twitter-sphere. It could give you a better result than Wall Street's best, according to new research. The findings come from a recent study by scholars at New York University, Arizona State University and the University of Toronto. The paper, titled  'Can Twitter Help Predict Firm-Level Earnings and Stock Returns?' finds that the wisdom of the Twitter crowd can be a pathway to trading riches."

Excerpt from Los Angeles Times -- "'If brand-name manufacturers do not get their investment worth, guess what — no new drugs,' said Rosa Abrantes-Metz, an adjunct associate professor at New York University's Leonard N. Stern School of Business. 'And then who loses? All of us.'"

Excerpt from Reuters -- "This is a fundamental shift in how companies and entrepreneurs operate. This is going to affect the venture capital industry. It already is affecting [it], in some ways. It's going to affect how people who want to raise money think about raising money. This is a very powerful means of potential investors and entrepreneurs coming together, bypassing... the angel investors, the venture capitalists."

Excerpt from Project Syndicate -- "An assessment of sovereign risk that is systematic and data-driven could help to spot the risks that changing global headwinds imply. To that extent, it provides exactly what the world needs now: an approach that removes the need to rely on the ad hoc and slow-moving approach of ratings agencies and the noisy and volatile signals coming from markets."