<description>The nation's largest public pension firm is the California Public Employee's Retirement System, known as CalPERS.  Its CEO, Marcie Frost, speaks with the Financial Times' U.S. Managing Editor Peter Spiegel about managing the mission-driven retirement fund for California's public employees as part of the UC Davis-Financial Times Biz Quiz 2023. Series: "UC Davis Graduate School of Management's Executive Speakers and Special Events" [Business] [Show ID: 39564]</description>

UC Davis Graduate School of Management's Executive Speakers and Special Events

The nation's largest public pension firm is the California Public Employee's Retirement System, known as CalPERS.  Its CEO, Marcie Frost, speaks with the Financial Times' U.S. Managing Editor Peter Spiegel about managing the mission-driven retirement fund for California's public employees as part of the UC Davis-Financial Times Biz Quiz 2023. Series: "UC Davis Graduate School of Management's Executive Speakers and Special Events" [Business] [Show ID: 39564]

CEO Marcie Frost on Money and Retirement

<description>What's the root cause of poverty in America? And how do we fix it? In this discussion, Matthew Desmond, renowned Princeton sociologist and author of "Poverty, by America," talks about why poverty persists in the U.S. with Marc-Andreas Muendler, economic professor at UC San Diego. Desmond argues we can end poverty through grassroots activism and a willingness to target systems that perpetuate it, like local zoning laws. Desmond was catapulted into the national spotlight as a leading authority on modern American poverty when his Pulitzer Prize-winning masterpiece, “Evicted: Poverty and Profit in the American City,” made its debut in 2016. His work has been supported by the Gates, Horowitz, Ford, JBP, MacArthur, and National Science, Russell Sage, and W.T. Grant Foundations, as well as the Chan Zuckerberg Initiative. Series: "Helen Edison Lecture Series" [Public Affairs] [Business] [Show ID: 39385]</description>

Helen Edison Lecture Series

What's the root cause of poverty in America? And how do we fix it? In this discussion, Matthew Desmond, renowned Princeton sociologist and author of "Poverty, by America," talks about why poverty persists in the U.S. with Marc-Andreas Muendler, economic professor at UC San Diego. Desmond argues we can end poverty through grassroots activism and a willingness to target systems that perpetuate it, like local zoning laws. Desmond was catapulted into the national spotlight as a leading authority on modern American poverty when his Pulitzer Prize-winning masterpiece, “Evicted: Poverty and Profit in the American City,” made its debut in 2016. His work has been supported by the Gates, Horowitz, Ford, JBP, MacArthur, and National Science, Russell Sage, and W.T. Grant Foundations, as well as the Chan Zuckerberg Initiative. Series: "Helen Edison Lecture Series" [Public Affairs] [Business] [Show ID: 39385]

Poverty in America with Matthew Desmond

<description>Where did the American Dream of hard work equals upward mobility go? And what will it take to bring it back?  In this talk, Raj Chetty, director of Opportunity Insights and professor of public economics at Harvard University, focuses on three policy levers to increase upward mobility: reducing racial and economic segregation through more effective affordable housing programs, investing in place-based policies, and strengthening higher education. Chetty gives specific examples of pilot studies and interventions that help inform the design of policy and practice from the federal to state to local levels, including at institutions of higher education such as UC Berkeley. He offers illustrations that can be scaled nationally, providing a pathway to expand opportunities for all. Series: "UC Berkeley Graduate Lectures" [Public Affairs] [Business] [Show ID: 39239]</description>

UC Berkeley Graduate Lectures

Where did the American Dream of hard work equals upward mobility go? And what will it take to bring it back?  In this talk, Raj Chetty, director of Opportunity Insights and professor of public economics at Harvard University, focuses on three policy levers to increase upward mobility: reducing racial and economic segregation through more effective affordable housing programs, investing in place-based policies, and strengthening higher education. Chetty gives specific examples of pilot studies and interventions that help inform the design of policy and practice from the federal to state to local levels, including at institutions of higher education such as UC Berkeley. He offers illustrations that can be scaled nationally, providing a pathway to expand opportunities for all. Series: "UC Berkeley Graduate Lectures" [Public Affairs] [Business] [Show ID: 39239]

Policies to Restore the American Dream with Raj Chetty

<description>Children’s chances of earning more than their parents have fallen from 90% to 50% over the past half century in America. How can we restore the American Dream of upward mobility for all children? In this talk, Raj Chetty, director of Opportunity Insights and professor of public economics at Harvard University, shows how big data from varied sources ranging from anonymized tax records to Facebook social network data is helping us uncover the science of economic opportunity. Among other topics, Chetty discusses how and why children’s chances of climbing the income ladder vary across neighborhoods, the drivers of racial disparities in economic mobility, and the role of social capital as a driver of upward mobility.  He presents data on the state of economic opportunity in California in particular to provide a local context to these national patterns. Series: "UC Berkeley Graduate Lectures" [Public Affairs] [Business] [Show ID: 39238]</description>

Children’s chances of earning more than their parents have fallen from 90% to 50% over the past half century in America. How can we restore the American Dream of upward mobility for all children? In this talk, Raj Chetty, director of Opportunity Insights and professor of public economics at Harvard University, shows how big data from varied sources ranging from anonymized tax records to Facebook social network data is helping us uncover the science of economic opportunity. Among other topics, Chetty discusses how and why children’s chances of climbing the income ladder vary across neighborhoods, the drivers of racial disparities in economic mobility, and the role of social capital as a driver of upward mobility.  He presents data on the state of economic opportunity in California in particular to provide a local context to these national patterns. Series: "UC Berkeley Graduate Lectures" [Public Affairs] [Business] [Show ID: 39238]

The Science of Economic Opportunity: New Insights from Big Data with Raj Chetty

<description>After founding four companies and working at top firms in venture capital and private equity, where fast growth and maximum profits rule, David Whorton, Founder and CEO of the Tugboat Institute, has spent the last decade exploring and developing the concept of the evergreen company—one built to last privately over 100 years. The evergreen company stands in contrast to those that are being built to flip to generate wealth for a small few. Instead, evergreen companies are being built with very long planning horizons and the commitment to share their success with their employees and their communities. Whorton argues evergreen companies are incredibly important to our society, but overlooked and under-appreciated relative to venture capitalists, private equity and public companies that represent the de facto growth company models. 

Since the dot.com boom, the de facto growth model for venture capitalists has been get-big-fast. It later evolved to growth-at-all-costs with the advent of cheap money under loose Fed policies. This play book led to numerous excesses, including the manic pursuit of ever larger and higher valuation rounds in hot companies. In the same period, private equity has risen dramatically, unwisely seen by many as a safer asset class than public stocks; an industry sits on over a trillion dollars of dry powder to invest, matched with a couple trillion of debt, giving the private equity firms purchasing power over $3 trillion dollars.  Series: "Tanner Lectures on Human Values" [Business] [Show ID: 39235]</description>

Tanner Lectures on Human Values

After founding four companies and working at top firms in venture capital and private equity, where fast growth and maximum profits rule, David Whorton, Founder and CEO of the Tugboat Institute, has spent the last decade exploring and developing the concept of the evergreen company—one built to last privately over 100 years. The evergreen company stands in contrast to those that are being built to flip to generate wealth for a small few. Instead, evergreen companies are being built with very long planning horizons and the commitment to share their success with their employees and their communities. Whorton argues evergreen companies are incredibly important to our society, but overlooked and under-appreciated relative to venture capitalists, private equity and public companies that represent the de facto growth company models. 

Since the dot.com boom, the de facto growth model for venture capitalists has been get-big-fast. It later evolved to growth-at-all-costs with the advent of cheap money under loose Fed policies. This play book led to numerous excesses, including the manic pursuit of ever larger and higher valuation rounds in hot companies. In the same period, private equity has risen dramatically, unwisely seen by many as a safer asset class than public stocks; an industry sits on over a trillion dollars of dry powder to invest, matched with a couple trillion of debt, giving the private equity firms purchasing power over $3 trillion dollars.  Series: "Tanner Lectures on Human Values" [Business] [Show ID: 39235]

Underappreciated Evergreen Companies: Capitalism at Its Best with David Whorton

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