WEBVTT - Top MBA Programs Target Diversity for Real-Life Case Studies 0:00:01.800 --> 0:00:04.440 This is Bloomberg Business Week. I'm Carol Masser and I'm 0:00:04.480 --> 0:00:07.280 Bloomberg Quick Takes Tim Stanovk. We're here every day bringing 0:00:07.320 --> 0:00:09.840 you the latest news from the world to business and finance, 0:00:09.840 --> 0:00:13.680 plus technology, politics, economics, all partnising the power of Business 0:00:13.680 --> 0:00:17.119 Week reporters and editors, not to mention our journalists and 0:00:17.120 --> 0:00:20.000 analysts in more than one twenty countries. You can download 0:00:20.000 --> 0:00:23.239 Bloomberg Business Week on iTunes, SoundCloud, or Bloomberg dot Com. 0:00:23.400 --> 0:00:25.200 You can also listen to our radio show at two 0:00:25.200 --> 0:00:27.880 pm Eastern Time on Bloomberg Radio or watch us on 0:00:27.920 --> 0:00:32.680 YouTube search Bloomberg Global News. You are listening to Bloomberg 0:00:32.680 --> 0:00:35.440 Business Week Carol Master along with Shinali Bassik here in 0:00:35.479 --> 0:00:39.680 our interactive broker studio. Let's get to a little bit 0:00:39.680 --> 0:00:42.040 more on COVID and the vaccine because top of mine 0:00:42.360 --> 0:00:45.640 Sali mentioned it earlier. We've got President Bush his push 0:00:45.720 --> 0:00:49.239 to begin offering third doses of Visor's vaccine, facing the 0:00:49.320 --> 0:00:53.000 first of two crucial tests. Advisers to the FDA meeting 0:00:53.440 --> 0:00:56.280 today to talk about whether booster shots should be offered 0:00:56.280 --> 0:00:59.760 to most Americans. So the process moving forward today, we 0:00:59.800 --> 0:01:04.120 are expecting some type of vote expected later this afternoon. 0:01:04.240 --> 0:01:06.640 So let's see what's top of mind for Dr Ian 0:01:06.720 --> 0:01:08.960 LUs Bader, his clinical Professor Medicine at n y U 0:01:09.040 --> 0:01:10.880 Land Going. He joined us once again on the phone 0:01:10.920 --> 0:01:13.280 in New York City. Hey, Ian, good to have you 0:01:13.319 --> 0:01:16.840 back with us. How are you. I'm good, Happy Friday, 0:01:16.880 --> 0:01:20.000 and welcome back Caros, Thank you, thank you. I got 0:01:20.000 --> 0:01:22.959 a needed break and it's good to be back. But 0:01:23.040 --> 0:01:25.479 I do feel like so many of the same stories 0:01:25.760 --> 0:01:29.240 that I left are still here, understandably, So how do 0:01:29.280 --> 0:01:32.600 you see the way forward when it comes to this pandemic? 0:01:32.680 --> 0:01:35.160 You and I UH and Tim and our team have 0:01:35.319 --> 0:01:39.880 been talking to you a lot. What's next here? So 0:01:40.000 --> 0:01:42.200 there's a big debate about the third dost or the 0:01:42.360 --> 0:01:45.640 or the booster dose for COVID, and you know who, 0:01:45.760 --> 0:01:48.320 what and when is really the question. A lot of 0:01:48.320 --> 0:01:52.480 this data is based on Israel, where you know, they 0:01:52.640 --> 0:01:55.720 had a relationship with the fiser and they got their 0:01:55.800 --> 0:01:59.760 vaccines very early, really December in January. It's not earlier 0:02:00.280 --> 0:02:03.480 last year, so it's been almost a year. And what 0:02:03.520 --> 0:02:06.920 they are noting is really the effectiveness of the vaccine 0:02:06.960 --> 0:02:12.919 is dropping from about to about and that's both due 0:02:12.919 --> 0:02:16.280 to dropping antibody levels, which we know happens after a while, 0:02:16.400 --> 0:02:19.400 and also mutations, you know in the virus. This was 0:02:19.440 --> 0:02:22.160 to the alpha variant. The delta variant actually has a 0:02:22.200 --> 0:02:27.200 different confirmation of the spike protein, and so based on 0:02:27.280 --> 0:02:29.960 a number of issues, including a much higher viral load 0:02:30.280 --> 0:02:35.320 of with delta, people are asymptomatic and often have very 0:02:35.440 --> 0:02:38.760 very high levels. So that's really what we're seeing, and 0:02:40.200 --> 0:02:42.720 concern about transfer. I mean, in other words, you're not 0:02:42.760 --> 0:02:48.000 getting sick, but you're now have ability to pass COVID around. Yes, 0:02:48.080 --> 0:02:51.000 I think that's certainly one of the elements. So that's 0:02:51.040 --> 0:02:53.960 really what we're seeing in Israel, and really what we're 0:02:54.000 --> 0:02:56.919 seeing here is that the majority of people who've been 0:02:57.000 --> 0:02:59.760 vaccinated are not getting very sick at all. A small 0:03:00.040 --> 0:03:02.799 sent are and in Israel and here as well, the 0:03:02.960 --> 0:03:06.200 small percent of people who've been vaccinated. Actually in Israel 0:03:06.200 --> 0:03:10.280 it's about half the hospitalized patients had two vaccines. They 0:03:10.320 --> 0:03:14.600 typically have heart disease or lung disease, diabetes, hypertension, they 0:03:14.600 --> 0:03:19.560 have a number of other issues, and so it is 0:03:19.680 --> 0:03:22.160 likely if we're going to do a booster, it should 0:03:22.240 --> 0:03:26.160 be in those susceptible groups. You know, we know that 0:03:26.240 --> 0:03:29.360 the third vaccine really does raise antibodies. The question is 0:03:29.400 --> 0:03:33.480 doesn't change anything? Will it really change hospitalization and death rates? 0:03:33.480 --> 0:03:36.040 So that's really the question. And then the question also 0:03:36.080 --> 0:03:38.840 comes up, what about side effects or potential side effects 0:03:39.320 --> 0:03:41.240 months or years down the line. So what do you 0:03:41.280 --> 0:03:44.240 make of the meeting today of the FDA advisors and 0:03:44.280 --> 0:03:46.880 what will come out of it? How fast can we 0:03:46.960 --> 0:03:50.840 expect decisions to be made by the Biden administration and 0:03:50.880 --> 0:03:56.800 then guidance given to the bulk of the country. You know, candidly, 0:03:56.840 --> 0:04:00.280 I think we need more data. We really should have 0:04:00.480 --> 0:04:02.960 been all along the way doing a variety of our 0:04:03.040 --> 0:04:06.840 own studies, both on the MR and A vaccines and 0:04:06.960 --> 0:04:13.160 patient populations, monoclonal antibodies, UM other drugs and other treatments, 0:04:13.240 --> 0:04:15.320 you know, for COVID, we we really should be a 0:04:15.440 --> 0:04:18.880 leader instead of relying on other data. My bet is 0:04:18.920 --> 0:04:22.000 that they are going to say it's absolutely reasonable for 0:04:22.080 --> 0:04:26.440 people the IMMO compromised people with underlying diseases, but I 0:04:26.480 --> 0:04:29.919 think they're going to wait on advising it for a 0:04:29.960 --> 0:04:32.000 big group of people. First of all, we know a 0:04:32.080 --> 0:04:35.240 lot of people now really have very high endibody levels, 0:04:35.320 --> 0:04:37.200 you know, and what we don't know is we'll even 0:04:37.320 --> 0:04:42.440 higher antibody levels really make a significant difference. We before 0:04:42.520 --> 0:04:46.080 we subject people to the potential risk of a third vaccine, 0:04:46.400 --> 0:04:50.680 we really should know. Does a higher antibody level really 0:04:50.920 --> 0:04:53.200 change an outcome? That's really the question. This is a 0:04:53.240 --> 0:04:56.040 really big week with so many people going back to school, 0:04:57.320 --> 0:05:00.760 So what are you expecting for the next buple of weeks. 0:05:00.839 --> 0:05:03.680 Does that mean that there may be a lot more cases? 0:05:03.720 --> 0:05:07.280 And does that um really start to change the calculus 0:05:07.279 --> 0:05:11.080 of how people think about this disease. You know, even 0:05:11.120 --> 0:05:13.880 though we're getting closer to what we used to think 0:05:13.920 --> 0:05:20.400 of her immunity is right vaccinations. Seventy Americans have had 0:05:20.520 --> 0:05:23.119 at least one vaccine. There's a group of about fifty 0:05:23.200 --> 0:05:27.160 or sixty million people who you know, remain unvaccinated, although 0:05:27.200 --> 0:05:30.040 slowly that seeming to chip down. I think we are 0:05:30.120 --> 0:05:32.800 going to continue to see a rise in COVID cases 0:05:32.880 --> 0:05:36.360 really in the unvaccinated, and I think everyone ultimately is 0:05:36.400 --> 0:05:39.440 going to be exposed to delta. It's highly contagious, but 0:05:39.480 --> 0:05:42.680 I think most people who are vaccinated will have either 0:05:42.760 --> 0:05:44.919 minimal or no symptoms. They'll have a cost, they'll have 0:05:44.960 --> 0:05:46.800 a cold, and if they don't get tested, they may 0:05:46.839 --> 0:05:50.160 never even really know. And I think eventually we will 0:05:50.200 --> 0:05:53.960 all build up antibodies to that, and unless there's a 0:05:54.000 --> 0:05:57.800 new mutation, I think we will sort of learn to 0:05:57.920 --> 0:06:01.120 live with delta, you know, one that group of fifty 0:06:01.160 --> 0:06:03.359 million people you know, wind up getting it. Now. Of 0:06:03.360 --> 0:06:07.359 course there will be some hospitalizations and deaths in the unvaccinated, 0:06:07.720 --> 0:06:10.760 but that at this point is a relatively small percent 0:06:10.839 --> 0:06:14.640 of the population. Well, and it is interesting. I thought 0:06:14.640 --> 0:06:17.840 the point you made about a third dose. We don't 0:06:17.839 --> 0:06:20.760 necessarily know all the side effects of getting one, and 0:06:20.800 --> 0:06:23.640 that's just something to consider as they as they move forward. 0:06:23.720 --> 0:06:27.279 Certainly regulators, Um, Dr Lusbader, sit tight, We'll come back. 0:06:27.360 --> 0:06:29.640 Dr Ian los Bader, where you're talking with on this 0:06:29.680 --> 0:06:31.840 Friday's clinical professor of medicine over at n y U 0:06:31.920 --> 0:06:34.400 Landgoing Medical Center on the phone in New York City? 0:06:34.400 --> 0:06:37.200 Are you ready Shinale to get a third booster? I 0:06:37.279 --> 0:06:40.360 would like it as soon as possible, like him would 0:06:40.360 --> 0:06:42.920 be like, I want it yesterday. UM. I do like 0:06:42.960 --> 0:06:46.159 that they're gathering more information because I think we're getting 0:06:46.160 --> 0:06:49.120 pieces from different parties, and you know, we know, right 0:06:49.279 --> 0:06:53.200 data is important to really understanding maybe what's to come. Definitely, 0:06:53.200 --> 0:06:55.440 what's the best move? Definitely, but people are back in 0:06:55.520 --> 0:06:58.520 full force. It definitely feels like it definitely feels it. 0:06:58.760 --> 0:07:01.200 Are you are listening to Bloomberg this week on this Friday, 0:07:01.240 --> 0:07:03.840 Carol Masser, Shinali Bassik, and we'll be back in just 0:07:03.920 --> 0:07:08.840 a moment right here on Bloomberg Radio. Let's get right 0:07:08.880 --> 0:07:11.600 back to Dr Ian los Beta, clinical professor of Medicine 0:07:11.640 --> 0:07:13.880 at n y U Landgown, still with us on the 0:07:13.920 --> 0:07:16.800 phone in New York City. So Dr ls Beder, one 0:07:16.840 --> 0:07:19.640 thing that really caught my attention when you said, you know, 0:07:19.720 --> 0:07:22.240 we don't know the side effects of a third possible dose. 0:07:22.240 --> 0:07:25.320 I mean we are still learning in real time about 0:07:25.360 --> 0:07:28.880 these vaccines and about you know, the impact it has 0:07:28.920 --> 0:07:31.520 on our body. What are the concerns that kind of 0:07:31.560 --> 0:07:38.560 an overdosing of a COVID vaccine could mean? So, you know, 0:07:38.640 --> 0:07:41.480 everything in life is a risk and a benefit ratio 0:07:41.840 --> 0:07:47.200 whatever decisions we make, and certainly being unprotected against COVID 0:07:47.840 --> 0:07:50.840 is not a smart thing to do, because we do 0:07:50.920 --> 0:07:53.640 know that about a third of patients have long COVID, 0:07:54.000 --> 0:07:56.360 so we do our best to protect the issue was 0:07:56.440 --> 0:08:01.960 raised about influenza absolutely. Flu shots, although not perfectly effective, 0:08:02.040 --> 0:08:04.600 certainly can be very helpful. You know, we're starting to 0:08:04.640 --> 0:08:07.520 give that now, so that's important. We certainly know the 0:08:07.560 --> 0:08:11.880 two vaccines are really reduced of for COVID, certainly reduced 0:08:11.880 --> 0:08:16.800 the risk of death and hospitalization. We don't know that 0:08:16.920 --> 0:08:20.320 much about the third vaccine. We certainly know a small 0:08:20.400 --> 0:08:23.120 percentage of people who get the m R and A 0:08:23.240 --> 0:08:30.160 shots um can have other issues myocarditis, pericardius or neurologic issues. Yes, 0:08:30.240 --> 0:08:33.880 it is a very small number, and overall, the the 0:08:33.920 --> 0:08:38.280 benefit of the vaccine over overrides really the risks. But 0:08:38.400 --> 0:08:42.719 people should know that these are not risk free vaccines. Importantly, 0:08:43.679 --> 0:08:47.559 side effects can occur. Importantly, Also, the vaccines are different 0:08:47.679 --> 0:08:51.800 and differences are emerging across them. How do you parse 0:08:52.840 --> 0:08:55.520 what's most important when it comes to the differences between 0:08:55.520 --> 0:08:59.679 the vaccines themselves. So at this point, um, it does 0:08:59.760 --> 0:09:03.319 little like the Maderna m R and A vaccines really 0:09:03.360 --> 0:09:08.200 do give a little bit longer lasting protection. Part of 0:09:08.240 --> 0:09:11.719 that might be the time interval, right, So initially we 0:09:11.720 --> 0:09:14.560 were giving a three week interval between a fiser and 0:09:14.600 --> 0:09:17.600 four weeks with the Maderna. It does turn out that 0:09:17.720 --> 0:09:20.520 maybe that gap between the first two shots really can 0:09:20.559 --> 0:09:25.560 give you longer lasting protection. J and J initially did 0:09:25.679 --> 0:09:28.360 not have numbers quite as high, but over time it 0:09:28.440 --> 0:09:31.080 does seem to help. And that also seems to be 0:09:31.160 --> 0:09:34.440 boosted if you give an MR and a vaccine several 0:09:34.480 --> 0:09:37.679 weeks or months after the the J and J. So 0:09:37.760 --> 0:09:40.720 it does look like for the majority of people, of 0:09:40.800 --> 0:09:45.240 healthy people, they are pretty well protected. I want to say, 0:09:45.400 --> 0:09:48.880 whither without approval At this point, people can go into 0:09:49.280 --> 0:09:54.479 you know, local pharmacies. I've got patients who get their vaccines. 0:09:54.920 --> 0:09:58.040 It really so there's no one preventing that. But it 0:09:58.120 --> 0:10:00.880 really has to be a recommendation B on the science 0:10:00.960 --> 0:10:03.480 behind it. And I don't think we really know other 0:10:03.559 --> 0:10:07.000 than saying that vulnerable people elderly diabetes, I mean it 0:10:07.040 --> 0:10:11.360 was suppressed. They're the risk of getting delta and complications 0:10:11.360 --> 0:10:14.559 are much higher than your average person who's otherwise healthy, 0:10:14.600 --> 0:10:18.360 who's who has already had two vaccines. Kitty Gratfeld was 0:10:18.400 --> 0:10:21.160 on with me yesterday at Bloomberg and she she only 0:10:21.200 --> 0:10:23.319 actually talked about people she knows. You just walked into 0:10:23.320 --> 0:10:26.079 pharmacies and like, I need a shot. It was a 0:10:26.160 --> 0:10:28.520 third shot, and they just did it. It happened to 0:10:28.520 --> 0:10:30.760 me in front of me the other day, did it, Yes, 0:10:30.920 --> 0:10:34.839 so we know it's happening. Well, go ahead, people if 0:10:34.840 --> 0:10:37.200 they want to get it, you know you can do it. 0:10:37.440 --> 0:10:40.040 And people who don't want vaccines, you know. Obviously we're 0:10:40.040 --> 0:10:45.040 not yet forcing people to do that in the United States. Um, 0:10:45.120 --> 0:10:47.800 but I think we should wait for more data. And 0:10:47.840 --> 0:10:50.559 I don't think there's an emergency at this point. If 0:10:50.559 --> 0:10:53.560 you're otherwise healthy, it is not a panic to get 0:10:53.960 --> 0:10:56.800 a third booster at this time. Hey, real quickly thirty 0:10:56.800 --> 0:10:59.360 seconds here? You know, China can't seem to get a break. 0:10:59.440 --> 0:11:02.160 There is so where where there's tons of people, lots 0:11:02.160 --> 0:11:05.079 of vaccines have been given out. They contract data points 0:11:05.120 --> 0:11:10.000 like no other uh probably country. Their problems tell tell 0:11:10.040 --> 0:11:12.400 you what about this virus? And again just got about 0:11:12.400 --> 0:11:15.559 thirty seconds. Well, I'm not sure how effective the sign 0:11:15.559 --> 0:11:19.040 of VAC vaccine really is and they maybe having other 0:11:19.120 --> 0:11:22.080 mutations that they're not testing for. We need to do 0:11:22.120 --> 0:11:25.080 a better job. In general. There are new nasal vaccines 0:11:25.120 --> 0:11:27.280 for COVID that are being worked on. There are a 0:11:27.320 --> 0:11:29.760 lot of different approaches that we really need to make 0:11:29.800 --> 0:11:33.600 efforts that may be equally or more effective for new mutations. 0:11:33.880 --> 0:11:37.000 The data out of China could be a new mutation 0:11:37.160 --> 0:11:40.120 or could just be a less effective vaccine. All right, good, 0:11:40.520 --> 0:11:43.120 great always Ian, thank you, thank you, thank you. Have 0:11:43.160 --> 0:11:46.240 a wonderful and safe weekend. Dr Ian las Bader, clinical 0:11:46.280 --> 0:11:48.200 Professor of Medicine at n y U Land, going on 0:11:48.240 --> 0:11:49.600 the phone in New York City. The more I learned, 0:11:49.600 --> 0:11:51.679 the more I feel like I don't know, but he helps. 0:11:53.440 --> 0:11:56.200 He does help clarify a lot. Though. You're listening to 0:11:56.280 --> 0:12:00.320 Bloomberg Business Week with Carol Messer and Bloomberg Quick Takes 0:12:00.360 --> 0:12:05.080 Tim Stinovic on Bloomberg Radio. Well, you know we often 0:12:05.160 --> 0:12:07.920 reference something being a great business school case study. We 0:12:07.960 --> 0:12:11.240 to that a lot here on Bloomberg Business Week. Case 0:12:11.240 --> 0:12:14.160 studies now part of business school's efforts to improve diversity. 0:12:14.960 --> 0:12:17.240 Let's get into it. It's all part of the coverage 0:12:17.280 --> 0:12:19.439 of Bloomberg Business Weeks annual survey and coverage of the 0:12:19.480 --> 0:12:21.800 world's top NBA program. So let's get into it with 0:12:21.920 --> 0:12:24.640 Bloomberg Business Week, getor Joe Weber here in our Interactive 0:12:24.640 --> 0:12:28.040 broker studio, and also with us Bloomberg News Higher Education 0:12:28.080 --> 0:12:30.360 Finance reporter Janet Lauren on the phone, in New York 0:12:30.400 --> 0:12:33.160 City case studies right at the heart of like getting 0:12:33.160 --> 0:12:36.040 an m b A. And yet yeah, well, and it 0:12:36.120 --> 0:12:38.160 is a topic that we think about it the magazine 0:12:38.200 --> 0:12:40.440 a lot. I like in some of our our most 0:12:40.480 --> 0:12:43.640 noteworthy stories to to sort of our version case studies. 0:12:43.679 --> 0:12:45.959 And so I thought this was a really interesting story, 0:12:46.280 --> 0:12:48.920 um that Janet was able to contribute to the package. 0:12:48.960 --> 0:12:51.880 Because you go to business school, what do you what 0:12:51.920 --> 0:12:59.000 do you learn? Yeah? That's to me. Yeah, well, the 0:12:59.000 --> 0:13:03.080 case studies really the DNA of that experience, right, and 0:13:03.320 --> 0:13:06.920 as you as we've all known for the past uh 0:13:07.000 --> 0:13:08.959 from all of our amazing reporting from the past year, 0:13:08.960 --> 0:13:10.640 it's like, all right, this is a lot of white 0:13:10.640 --> 0:13:13.440 and male stuff, right, so so let's shake up the 0:13:13.480 --> 0:13:15.640 case study, right, So Janale, what does that end up 0:13:15.679 --> 0:13:18.360 looking like? Oh? Well, what's so interesting? And I'm curious 0:13:18.400 --> 0:13:21.199 to see what Janet found here. But to the point, 0:13:21.600 --> 0:13:22.640 there are a lot of you know, if you're going 0:13:22.720 --> 0:13:25.600 into retail, you will find more case studies where women 0:13:25.640 --> 0:13:28.320 have become the CEO turned things around. But when it 0:13:28.360 --> 0:13:31.679 comes to other more hardcore areas of finance where women 0:13:31.720 --> 0:13:35.000 have not really dominated yet, like quant finance, I mean 0:13:35.200 --> 0:13:38.280 even the class. It was like two women in most 0:13:38.320 --> 0:13:41.680 of my classes. So and very few case studies that 0:13:41.720 --> 0:13:44.600 involved women because the women have not risen to the 0:13:44.600 --> 0:13:47.200 CEO level in those industries yet. So, Janet, how are 0:13:47.200 --> 0:13:50.960 they changing this? Well, it doesn't have to be the 0:13:51.040 --> 0:13:54.640 CEO to be a compelling character in a case study. 0:13:54.720 --> 0:13:58.280 For example, the one we mentioned in our story was 0:13:58.440 --> 0:14:03.520 rosal And Fox of John Dear, the tractor agriculture manufacturer UM. 0:14:03.559 --> 0:14:06.680 And she was the first black woman manager of a factory, 0:14:07.080 --> 0:14:09.280 and that was a compelling enough reason for Harvard to 0:14:09.360 --> 0:14:12.160 feature her as a case study. That's why that was interesting. 0:14:12.200 --> 0:14:15.760 I think I always think about case studies as being 0:14:16.400 --> 0:14:19.720 these huge big blow ups or problems or or you know, 0:14:19.760 --> 0:14:23.160 it's usually involving the C suite and the CEO or something. 0:14:23.600 --> 0:14:26.840 But as you point out, there are some really great 0:14:26.920 --> 0:14:31.040 stories case studies and lessons to be learned by people UM. 0:14:31.080 --> 0:14:35.920 Certainly diversity UH and diverse people maybe lower on UH 0:14:36.320 --> 0:14:39.880 you know, the career ladder, but they're still leaders and 0:14:40.120 --> 0:14:43.560 still facing challenges, and they're still dealing with with issues 0:14:43.560 --> 0:14:46.400 and problems, and it's you know, you can learn as 0:14:46.480 --> 0:14:49.240 much from somebody who may not be the CEO by 0:14:49.280 --> 0:14:51.480 listening to their experience. And if you read the case 0:14:51.520 --> 0:14:54.160 study of Rosalind Fox, you know you could hear about 0:14:54.280 --> 0:14:57.520 the isolation she you know, she experienced while living in 0:14:57.520 --> 0:15:00.440 a small town of in Wisconsin a six months people. 0:15:00.840 --> 0:15:03.080 And she was recruited by John Dear and you know 0:15:03.120 --> 0:15:04.920 that was one of the things she was concerned about 0:15:04.920 --> 0:15:08.040 in going and taking the job. In another case studying 0:15:08.080 --> 0:15:11.320 we mentioned UM. Stanford, in addition to Harvard, has been 0:15:11.320 --> 0:15:14.080 doing a lot of outreach and just asking their alumni 0:15:14.160 --> 0:15:18.840 and asking faculty members to reach out and find other 0:15:19.120 --> 0:15:24.080 UM potential protagonists with diverse backgrounds. And Stanford featured you know, 0:15:24.080 --> 0:15:26.960 a woman who runs a car dealership, a black woman 0:15:26.960 --> 0:15:29.840 who runs a car dealership in Dayton, Ohio. Um, and 0:15:29.880 --> 0:15:33.560 she's the second generation running that card dealership. And uh, 0:15:33.600 --> 0:15:36.040 you know that was an interesting case study for Stanford, 0:15:36.640 --> 0:15:39.520 you know, which bears mentioning. Stanford number one in our 0:15:39.760 --> 0:15:45.720 tanking of NBA UH NBA schools, UH programs. Um. Yeah, 0:15:45.760 --> 0:15:49.400 I here's my big question. So so interesting Stanford number 0:15:49.400 --> 0:15:52.600 one in networking, number one in compensation, such great things, 0:15:52.680 --> 0:15:54.680 but they're not among the top ten when it comes 0:15:54.720 --> 0:15:56.920 to diversity. I don't want to be super tough on 0:15:56.960 --> 0:15:58.720 these business schools because I've got to say they're not 0:15:58.760 --> 0:16:01.960 doing horrible, all right, I mean they are top twenty. 0:16:02.080 --> 0:16:03.720 I've got to say, when I went to business school, 0:16:03.800 --> 0:16:05.960 I was more pleased with the diversity than I wasn't 0:16:05.960 --> 0:16:10.560 even in college. So Joel, how did I mean, how 0:16:10.600 --> 0:16:14.120 did you guys even think about how to approach diversity 0:16:14.120 --> 0:16:16.720 in these programs as you guys did this for the 0:16:16.760 --> 0:16:20.480 first time. Well, the it's all driven by survey, right, 0:16:20.520 --> 0:16:24.000 and so it ends up being thousands and thousands and 0:16:24.200 --> 0:16:28.280 thousands of surveys, and that is our data point, right, like, 0:16:29.040 --> 0:16:32.680 whatever those responses are what we build that around recognizing 0:16:32.720 --> 0:16:35.360 that this was such an important thing that we wanted 0:16:35.360 --> 0:16:39.520 to actually help acknowledge in the schools are recognized that 0:16:39.560 --> 0:16:42.240 there's a challenge here, but they're also doing things about it. 0:16:42.320 --> 0:16:45.440 And that's what we effectively, you know, centered the survey 0:16:45.520 --> 0:16:49.320 questions on UM. But you know what what that ties into, 0:16:49.400 --> 0:16:52.240 I think is also what this article of Janet's reflect 0:16:52.280 --> 0:16:55.680 which is that case study about John Dear didn't come 0:16:55.680 --> 0:16:58.200 from a professor, right when did you come from? Janet? 0:16:58.840 --> 0:17:02.520 It came from a student, and that students said I 0:17:02.560 --> 0:17:05.360 want to be reflected in these case studies. And she 0:17:06.280 --> 0:17:09.480 she spoke up and she suggested Rosalind Fox. Rosalind was 0:17:09.520 --> 0:17:12.360 not her manager, but she was someone who mentored her 0:17:12.880 --> 0:17:15.720 at John Deere and Low and behold she became a 0:17:15.840 --> 0:17:20.040 case study. And Harvard is mandating and it's required first 0:17:20.080 --> 0:17:24.720 year NBA courses that every every course have a protagonist 0:17:24.800 --> 0:17:27.960 with a diverse background. So what I like about that 0:17:28.040 --> 0:17:30.440 she just shows this relationship that I think the business 0:17:30.440 --> 0:17:34.560 schools are really they're leaning into their own students, right, 0:17:34.640 --> 0:17:36.800 and they recognize that their own students can help them 0:17:36.800 --> 0:17:40.080 solve these problems, and that surfaces new material that they 0:17:40.080 --> 0:17:42.520 wouldn't otherwise have been able to have. So I just 0:17:42.560 --> 0:17:45.760 thought that was a really really clever insight into what 0:17:45.920 --> 0:17:49.040 makes business schools also special, right, And like we we've 0:17:49.040 --> 0:17:51.240 gotten to so many of these business schools together, and 0:17:51.280 --> 0:17:53.879 it's like that network that is the network effect, right 0:17:54.160 --> 0:17:56.680 for all these people together, and you you talk about 0:17:56.680 --> 0:17:59.440 the problems and solutions and you create better leaders out 0:17:59.440 --> 0:18:01.600 of it, right, Exactly What's interesting We talked about brands 0:18:01.640 --> 0:18:03.600 all the time and how customers are pushing brands and 0:18:03.640 --> 0:18:06.879 companies right to be were diverse or were sensitive to 0:18:06.920 --> 0:18:10.520 the environment. What's interesting, though, Janet is a student pushing this, 0:18:11.080 --> 0:18:13.600 you know, to get a more diverse case study. Yet 0:18:13.800 --> 0:18:16.520 in your story you point out that it might be 0:18:16.640 --> 0:18:21.119 unclear whether professors will embrace it equally. What did you 0:18:21.119 --> 0:18:24.240 hear about that? So? Um so the professor that I 0:18:24.280 --> 0:18:27.080 spoke with at U C. L A. Had talked about how, 0:18:27.200 --> 0:18:29.280 you know, like a decade ago, you know, in a 0:18:29.359 --> 0:18:32.879 psychology course, he had brought in um diverse people in 0:18:33.000 --> 0:18:35.920 his in his discussions and case studies, and he said 0:18:35.960 --> 0:18:39.080 students were wondering, well, why why are you Why are 0:18:39.119 --> 0:18:42.280 you including this? It doesn't really feel relevant. And now 0:18:42.359 --> 0:18:45.439 a decade later, you know, students are really asking for it. 0:18:45.480 --> 0:18:47.720 But the question is book, If you're a business school 0:18:47.760 --> 0:18:50.919 professor and you've been teaching a class for decades, you 0:18:50.960 --> 0:18:53.439 know you that add more work for you to change 0:18:53.440 --> 0:18:55.960 out your case studies. You know, it's a lot of 0:18:56.000 --> 0:18:59.679 work to find case studies to to you know, have 0:19:00.000 --> 0:19:02.639 to teach them, and they may not want to switch 0:19:02.720 --> 0:19:05.800 up their courses if you know you've got an oldie, 0:19:05.800 --> 0:19:08.720 but goody, you know who who's going to replace that? 0:19:08.960 --> 0:19:11.680 And it takes effort on that time unto students keep 0:19:11.720 --> 0:19:13.960 answering these surveys that you're doing, Joel and saying this 0:19:14.040 --> 0:19:15.920 is what we want. You know, that's exactly right. And 0:19:16.119 --> 0:19:20.400 and it's also why we've continued to just champion this 0:19:20.400 --> 0:19:23.800 this ranking because like the students end up being the 0:19:23.840 --> 0:19:27.119 engine that drives it, they become alumni. The alumni also 0:19:27.240 --> 0:19:29.480 are a big part of who do takes part in 0:19:29.480 --> 0:19:32.080 these surveys. The more you do that, the more it 0:19:32.160 --> 0:19:34.960 actually helps everything. Joe, Well, we're gonna have more offshoots 0:19:34.960 --> 0:19:38.080 of certainly the Business Week coverage in the magazine that's 0:19:38.160 --> 0:19:40.080 in weeks to come. Joe Weber, thank you so much. 0:19:40.119 --> 0:19:42.520 Have a great weekend. Editor Bloomberg Business Week. Here in 0:19:42.560 --> 0:19:45.320 our studio, Janet Laura and check her out at Janet 0:19:45.359 --> 0:19:48.600 Lauren on Twitter, Higher education finance reporter at Bloomberg News. 0:19:48.600 --> 0:19:51.440 You can find her story too at business week dot com. 0:19:51.560 --> 0:19:55.600 This is Bloomberg Business Week with Carol Masser and Bloomberg 0:19:55.680 --> 0:19:59.840 Quick Takes. Tim Stinovic on Bloomberg Radio. Let's get in 0:20:00.040 --> 0:20:02.800 to it. Our check on the cryptocurrency world. We've got 0:20:02.840 --> 0:20:05.720 a company that is developing digital tools to merge the 0:20:05.760 --> 0:20:08.840 traditional capital markets and crypto assets here to tell us 0:20:08.880 --> 0:20:11.080 more and Jale and I've been talking behind the scenes. 0:20:11.080 --> 0:20:13.280 We have a million questions for Alec Flenberg you see 0:20:13.359 --> 0:20:16.920 of Nimbus. He's on the phone in New York City, Alex. UM, 0:20:17.119 --> 0:20:19.360 so great to have you here with Shinali and myself. 0:20:19.400 --> 0:20:22.280 First of all, I've been reading about your company, and 0:20:22.320 --> 0:20:24.680 I'm going to be quite honest with you. UM, I'm 0:20:24.720 --> 0:20:28.280 a little confused, so tell me exactly what you guys do. 0:20:29.520 --> 0:20:32.280 So so good afternoon, ladies, and thank you so much 0:20:32.359 --> 0:20:35.280 for having me on the show. It's a real pleasure. UM. 0:20:35.320 --> 0:20:36.960 And I hope and I hope. Well, I think there's 0:20:37.000 --> 0:20:39.040 only a ten minute segment, so a million questions going 0:20:39.119 --> 0:20:40.760 to be pretty tough. Try to speak. Well, have you 0:20:40.800 --> 0:20:44.760 back again, UM, So what do we do? We we 0:20:44.880 --> 0:20:51.119 are firmly fixed in providing solutions within the decentralized finance space. 0:20:51.880 --> 0:20:55.480 What does that really just mean in layman's terms, all 0:20:55.520 --> 0:20:58.040 of the things that we've been doing, uh, you know, 0:20:58.160 --> 0:21:02.879 in the centralized standard eyes general uh financial services space 0:21:02.920 --> 0:21:06.760 and the lending space. UM, in the traditional trading space, 0:21:07.480 --> 0:21:09.600 we're going to be looking to do exactly the same 0:21:09.600 --> 0:21:14.280 things and leveraging what the team's you know, multiple decades. 0:21:14.800 --> 0:21:17.400 I would say at least every every single leader on 0:21:17.560 --> 0:21:20.080 this team has at least three decades in the UH 0:21:20.280 --> 0:21:25.399 centralized you know, standardized financial services space. So we're looking 0:21:25.440 --> 0:21:28.439 to bring that experience to the decentralized space. What does 0:21:28.480 --> 0:21:32.760 that mean. Yeah, So decentralized finance. One way, I try 0:21:32.800 --> 0:21:34.760 to explain it to people and tell me how you 0:21:34.800 --> 0:21:37.879 make the comparison. The centralized finance reminds me a lot 0:21:37.920 --> 0:21:40.920 of peer to peer lending, where there's a human being 0:21:40.960 --> 0:21:44.520 on the other side somewhere. Um, how does this actually work? 0:21:45.080 --> 0:21:48.080 And how do you compare it to just peer to 0:21:48.119 --> 0:21:51.240 peer lending like we've seen the last several years, right, 0:21:51.240 --> 0:21:53.720 So so so peer to peer lending. So peer to 0:21:53.760 --> 0:21:56.720 peer lending is one component of the centralized finance, right 0:21:56.840 --> 0:21:59.439