“The
How I Spent My Summer: Dispatch from the ECs
The Harbus interviews ECs on how they spent their precious three summer months.
Abhiram Karuppur,
Industry Insights & Travel Editor
Christina Vosbikian (MBA ’25)
Where did you work this summer?
For myself! I was (and still am) working on my women’s healthcare navigation startup, which hasn’t formally launched yet. I did this as an HBS Rock Summer Fellow, which was great in terms of providing me with an extra “perk” of support and community throughout the summer.
Why did you choose to pursue entrepreneurship?
I came to HBS to make a career pivot from traditional finance to entrepreneurship, so summer was a perfect time to dive into that pivot – all the way. I was a policy major in college and have remained
heavily involved in impact work over the years, particularly in women’s equity and health. As I took a step back to consider where I wanted my career to go, women’s health felt like a natural place to focus – given some of my career and personal interests. The choice to work on something of my own also fell out naturally, as I learned more, brainstormed, back-stepped, and ideated again (over and over)! On the learning front, I would like to thank all of the incredible patients, doctors, nurses and healthcare workers who have fielded my (many) questions this year!
What is your advice for RCs looking at similar internship opportunities?
Take a bet on yourself!
It’s impossible to figure out the “when / how / what” of entrepreneurship. I definitely don’t have it all figured out –but I think the only way to try is head-first and all the way! So get out there and explore what you’re interested in – and start
trying to make an impact in that space. The rest will work out, if you keep at it (at least I think and hope so!).
Johann Farhat (MBA ’25)
Where did you work this summer?
This summer, I had the privilege of working as the Marketing Strategy and Innovation Director for Chelsea Football Club, reporting to the Chief Marketing Officer. The move from being a Chelsea fan to a Chelsea employee over these three months has been truly exceptional, with a lot of learnings on the behind-thescenes of marketing projects at Chelsea FC.
Why did you choose to work with this organization?
Soccer has been a central part of my life from the moment I started walking. My family fondly remembers me constantly
Sitting in a plush recliner seat in 2012, I was thrilled as a flurry of red images burst on screen to open my first viewing of The Avengers. Up to that point, movies to me had functioned more as concerts than music festivals; I would have much rather luxuriated in the depth of a single artist’s catalog than the greatest hits of multiple acts. My enjoyment of the hero’s journey on screen was wrapped in the simplicity of the experience; one hero triumphing over one villain, maybe two or three if the Herculean limits of said hero were to face even greater odds. While The Avengers was not the first Marvel attempt to break through the uni-hero mold (I’m looking at you, my beloved Spider-Man 3), it was the first movie I had seen capture truly outsized monetary value in the cultural currency of the cinematic universe. As The Avengers squad united in a rotating pan – weaponry at the ready, triumphant horns blaring inspirational tones – I felt my first blast of giddiness at the mashing of all these characters into one cultural product. In the world of consumer
packaged goods (“CPG”), I would argue that the same cultural delight heralded by Marvel’s superhero franchises is arising in the universification of our favorite products to eat and drink. “CPG universification” involves blending seemingly disparate brands and products to create unexpected combinations, generating buzz and a reconceptualization of CPG as entertainment. Perhaps no company has better understood the entertainment value of CPG than Liquid Death, from its intentionally kitschy “Murder your thirst” tagline on its tallboy water cans to a publicity stunt in which the Company offered a fighter jet as a giveaway prize, poking fun at Pepsi’s notorious 1996 campaign. The water company even recently introduced the first hot fudge sundae sparkling water in collaboration with the growing ice cream chain, Van Leeuwen. While one intuitively understands that there is likely not a huge underdiscovered market niche for hot sundae waters (or even a smaller, more dismal niche for Pepsi’s Peeps soda), this wacky collaboration is a critical prong in the company’s entertainmentforward marketing strategy, creating a universe in which
Jake Goodman, Contributor
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Editorial Team
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Women’s Leadership
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ASHA TANWAR
The Harbus is a publication of the Harbus News Corporation, a nonprofit, independent corporation of the Commonwealth of Massachusetts. The Harbus is published monthly throughout the academic year, distributed free of charge to members of the Harvard Business School community, and is updated continually on harbus.org. E-mail the editor if you would like to contribute. Off-campus subscriptions are available. Copyright ©2017, the Harbus News Corporation. The Harbus is committed to equality and diversity and we strive to provide a forum for the free exchange of ideas. As a result, the opinions reflected in articles, editorials, photographs and cartoons are those of the authors and artists and do not necessarily reflect the opinions of the Harbus, explicitly or implied, regardless of author or artist.
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From the Editor’s Desk
The Great Displacement is upon us.
Tim Ford, Editor-in-Chief
The Great Displacement is upon us! Robots are coming for our jobs, automation is overtaking manual labor, and your boss from this summer’s internship prefers Microsoft Copilot to working with you.
Close to home, ECs are experiencing a displacement uniquely our own – the arrival of the HBS Class of 2026. RCs have displaced us from our roles in line at Spangler at 12:15 / 12:35, from the Royale dance floor at 2am on Gatsby night, from the 8:00am Aldrich alcoves for discussion group (kidding). For the Harbus, the RC class is swiftly displacing the grizzled EC veterans in the newsroom.
In this edition, you’ll find cutting RC insights ranging from economic analysis to hopes and dreams for the next two years. RCs explore brand sponsorship deals at the Olympics, the implications of macroeconomic data for stock price performance, and the etymology of brand names. I may have had to look up what “etymology” met, but you better believe I still had edits on the first draft. Class of 2026 writers also dive deep into the HBS community – our student leaders, our uniquely
gifted classmates, the trials and tribulations of getting here. I might have thought ECs who have been here for more than three weeks might be better positioned to opine on HBS community, but alas, here we are.
Good for the RCs. But the Harbus ECs can still hold our own – at least now that we have ChatGPT Edu. To prove it, this edition includes an article generated entirely by Artificial Intelligence, and I bet you won’t be able to tell which one. I fed this newfangled writer the following assignment (“prompt” in robo-speak):
“I work for the Harbus student newspaper at Harvard Business School. All our articles are linked here: https://www. harbus.org/. In the upcoming edition, I want to do a joke where we have AI generate an article, and see if people notice. Can you please write a kind of tongue in cheek funny 1,200-word article about some business or HBS topic, pretending to be a student, but slipping in a clue or two that you might actually be AI?”
With prompting like this, what could go wrong?
I’ll confess two ways in which the RCs may have an edge on AI. First, despite maintaining a positive attitude, AI was surprisingly unreceptive to feedback. For instance, consider the following exchange after ChatGPT fed
me an unrealistically glamorous headshot for the fictitious writer we created, with lots of techy icons in the background:
Me: “Make it less AI and more like a normal headshot.”
AI: [Generates headshot of perhaps the most beautiful person I have (n)ever seen]. “Here is the headshot with a more natural, professional look. If you need any further adjustments or additional images, just let me know!”
Me: “Why is this person positively glowing? Make it a bit less fancy please.”
AI: [Literally the same person but slightly messier hair, still radiant]. “Here is the more understated and natural headshot. If this works for you, great! If you need any more adjustments or additional images, just let me know!”
Me: “No way the lighting was this good. Make the lighting worse plz.”
AI: [Just switched the shadow from one side to the other].
“Here’s the headshot with more realistic and slightly less polished lighting. I hope this one fits the bill! If you need anything else, feel free to ask.”
Me: “The background looks fake.”
AI: [Arbitrarily decides to give the person a haircut]: “Here is the headshot with a different background. This should give it a more professional yet relatable
feel. Let me know if this works for you!” Me: “Fine.”
Second, AI didn’t quite seem to grasp the “lived experience” of today’s HBS student. We debated the merits of including reference to the debaucherous Priscilla Ball (to my knowledge, last held in 2013), and discussed the range of avocado toast options at a restaurant of which I had never heard.
Ultimately, I suppose it will be abundantly clear which article is AI-generated – just look for an unreasonably good headshot, references that make no sense, and a not-so-subtle robotic undertone. But maybe that’s a good thing. Try though they might, the RCs AI might still have some catching up to do. Good luck from the Harbus to all those embarking on their MBA journey, and welcome back to those beginning the second chapter.
Tim Ford (MBA ’25) is originally from New Jersey. He graduated from the University of Virginia with degrees in Commerce and Spanish, and completed an M.Phil. in Latin American Studies at the University of Cambridge. Prior to the HBS MBA, Tim worked in growth equity in San Francisco.
©Harvard Business School
How to Start a Search Fund
Eddie Ovey (MBA ’19) shares guidance for ECs considering entrepreneurship
through
acquisition.
Eddie Ovey, Contributor
The EC year is a crucial career juncture – a prime moment to explore job opportunities and prepare for your professional future. Many of you may be considering launching a search fund and will start to prepare by taking Financial Management of Smaller Firms and joining the ETA club. Some will then decide this is the right path early next year, and seriously engage investors to raise their fund and start searching. However, even with this preparation, many new searchers find it takes several months after launching to start searching effectively.
This learning curve isn’t unique to recent MBA graduates. This year, I launched my traditional search fund, Grandview Peak Capital, nearly five years after graduating from Harvard Business School, and yet, it still took several months to scale up my search effectiveness. Drawing from my personal experience, this article aims to provide those of you thinking about search with five areas of preparation to prioritize during your EC year so that you can efficiently search shortly after graduation.
1. Focus on a select few industries.
Search is no longer a secret. Not only are many MBA graduates raising a fund from investors to search fulltime (traditional search funds), many are also searching parttime or full-time while drawing on previous savings (selffunded search). Stanford has been tracking and reporting on traditional search funds since 1984, and as of 2023 the count had reached 681 traditional search funds raised. Most importantly, in 2023, 94 traditional search funds were raised, nearly 14% of the forty-year total.
This increased appetite for entrepreneurship through acquisition is felt first-hand by business owners. They’re now inundated with emails from “entrepreneurs seeking to buy one exceptional business” and “preserve their legacy.” In the search community, you’ll often hear the retelling of the anecdotal (but probably true) story of a business owner who accumulated all these emails in a folder, and then when he finally decided he wanted to sell his business, he just picked a random “entrepreneur” in that folder to start discussions with.
How can you differentiate yourself, not only from private equity and strategic buyers, but also the increased number of other entrepreneurs looking to “partner with one great business”? The answer is to be thoughtful about the industries in which you want to search.
Owners will be much more inclined to engage with you if they recognize that you embody the same passion and knowledge about their industry as they do. If you can provide unique insights in early discussions, they’ll see you as a key thought partner. And if they’re close to the stage of selling their business, they’ll see in you someone that they could trust. Therefore, it’s important to spend time during your EC year contemplating the macrotrends, industries, and business models you’d target during your search. Having worked as a chemical engineer before business school, I decided to start my search in the
development sprints. Which of these activities did you find energizing? Did any of these activities cause you dread?
It’s important to take time during your EC year to understand what kind of CEO journey you’d like to have and what unique strengths you will bring as an operator. If your background is in M&A, perhaps you should explore roll-up theses instead of buying a small software company. Or if you have experience leading large teams, perhaps you should consider services businesses with a large in-person workforce instead of businesses that work remotely.
With my more technical
the experience they bring on paper. Try to understand how many searchers they support each year and how many Boards they currently sit on. This will help you understand their bandwidth and likely responsiveness. Try to understand deals that they decided to pass on, why they passed, and their process in coming to that decision.
Most importantly, look for investors that you trust and enjoy talking with. Hopefully, these investors will be in your life for the next 10 years, so make sure you enjoy interacting with them and are eager to build long-term relationships.
chemicals industry with a few specific business models I liked. While I plan to do additional searching over the next few months in chemicals, I’m also starting to tee up another large industry to focus on, hopefully for an even longer duration.
2. Understand your unique strengths. In whatever business you buy, there will be new skills to learn and new challenges to face. But considering that 31% of traditional search fund-acquired companies have ended as partial or total losses, it’s critical to buy a company that you will be capable of leading through ups and downs.
Imagine yourself as the CEO of a small company. You start your day with several meetings coaching and training your teams. Next, you spend time working on a potential M&A opportunity to tuck into your company. Lastly, you have several calls with your product and engineering teams to discuss the next three product
and operations background, I’m focusing on finding a techenabled services or software business. While I’m not opposed to opportunistic, inorganic growth, I have not pursued rollup theses as I don’t believe it matches my core strengths.
3. Build relationships with investors.
This is a key activity during EC year – networking to determine which investors you will partner with long-term for your search fund.
Look for investors that understand the industries in which you’ll search, and the growth paths you’ll pursue. An investor may have more experience in blue collar businesses, health care, or software. Partnering with investors whose experience you value is not only important during the search but becomes even more important in building a strong Board of Directors postacquisition.
Look for investors that can add value to your search, beyond
4. Email deliverability.
Before I launched my search fund, my first email sequences had 90% open rates and 35% reply rates. “I’m getting the hang of this,” I initially thought. As I scaled up my second set of sequences, I was suddenly closer to 65% open rates and 15% reply rates. What changed? Was it industry-specific dynamics in my target fields? Had my email quality lowered? Were there other factors at play?
Many searchers are finding that it’s become increasingly difficult to have emails land in business owners’ inboxes during cold outreach, largely due to email changes made by Google earlier this year. Current hot topics in search include how to set up your email properly, how many daily emails to send, how long email sequences should be, and the like. However, there is one thing that searchers can’t change, and that’s the age of their email domains.
One of the key factors that influences email deliverability is
how long the email domain has been functioning and healthy. Figure out early on what your search fund name will be and buy two to three domains similar to this name this Fall. Then start very slowly, just sending a few emails per day from those domains and use them more actively for non-search activity during your EC year. That way, when you get serious about using those domains in the Summer or Fall after graduating, you’ve built up healthy and reputable domains for your outreach that also have one-year domain age.
5. Start searching part-time. Searching is all about selling yourself. It’s important to be strategic, thoughtful, and analytical when it comes to selecting the industries and business models on which you will focus. But in connecting with business owners, you’re ultimately selling yourself. And selling requires reps – lots of reps.
You don’t need your search fund raised and tech stack in place to start getting reps at a small scale today. Pick an industry of interest and start building connections. Attend a conference. Connect with experts to help you ramp up and navigate the industry. Practice communicating your value prop as a business buyer compared to the alternatives a business owner may be considering.
As I started dabbling in search even before talking with investors, I found the work hard but enjoyable. I enjoyed learning about different business models. I enjoyed talking with business owners. I didn’t enjoy some of the blunt rejection I got from business owners and brokers, but I also realized I could handle it. By experimenting, I was able to then fully commit to this next step in my career.
Summary.
Most of you thinking about launching a search fund are exploring many career paths in parallel. That’s to be expected and is the right approach –explore! However, if you are considering a search fund, my advice is to actively explore it. You learn best by doing. The above recommendations help you not only explore if this path is right for you but will also help you search more effectively when you officially launch.
Eddie Ovey (MBA ’19) is originally from Iowa but now resides with his wife in Utah. His work experience includes strategy and program management at Entrata, sales and operations at Homie, tech and supply chain consulting at Deloitte, and operations at Dow Chemical. He has an MBA from Harvard Business School and a BS in Chemical Engineering from Brigham Young University.
Why Bad News on the Economy is No Longer Good News
The stock market’s change in tune may signal a recession is in store.
Michelle Yu, Industry Insights Editor
For the last couple of years, Wall Street has graded the state of the economy on a seemingly counterintuitive rubric. In the wake of rampant inflation, which soared to a 40-year high of 9.1% in June 2022 due to increased fiscal spending, near-zero interest rates, supply chain shortages, and tight labor market conditions, weak economic data has been welcomed with open arms by the U.S. stock market. While the average Joe would decry an uptick in unemployment or a twofold increase in initial jobless claims, investors were rewarding it.
Why is that?
It all comes back to the Federal Reserve, who began hiking rates in March 2022 to combat inflation. The game plan was standard practice, à la former Fed Chair Paul Volker in the 1980s: make it harder for
consumers and corporations to borrow money, thereby slowing the circulation of cash and rate of spending. This marked a stark departure from the era of free money in the early years of the COVID-19 pandemic, where companies faced few hurdles when trying to secure capital, regardless of how unhealthy their balance sheets or lofty their goals were. By July 2023, the Fed had raised rates 11 times, bringing them to a 23-year high and marking the fastest pace of rate hikes since Volker’s tenure. While higher rates were perhaps just what the doctor ordered to cure inflation, they have been a tougher pill for the stock market to swallow. Rate increases have taken the biggest toll on companies with high valuations, especially growthoriented technology stocks that benefited the most from low interest rates. There are a few reasons for this: 1) riskier assets become less attractive in higher rate scenarios because investors can find more attractive yields in
classes like bonds; 2) the amount of cash that capital-intensive growth stocks are expected to retain is often reduced, as higher rates impact borrowing costs, thus decreasing profit margins; 3) securing low-cost debt becomes more difficult, making companies even more reliant on public market returns; and 4) if the rate increases do in fact work in the Fed’s favor and lower inflation, growth will also likely slow, wherein defensive stocks (think sectors that provide essential goods and services) will outperform, as they are typically less affected by economic downturns.
Within this more restrictive environment, much of the conversation on Wall Street over the last year has asked: “when is enough enough?” When will the Fed stop raising rates, thereby relieving pressure on corporations and consumers? When will inflation be at a secure enough place that people will not have to worry about it ticking back up again? Are rate cuts even
on the table yet?
Investors have reviewed economic data with a fine-tooth comb, searching for evidence that the Fed’s job is near-complete. Employment reports have faced the most scrutiny because any print that shows job additions, lower unemployment, or wage increases on a monthly basis means consumers have more power to spend. The resulting uptick in economic activity then threatens the Fed’s work against inflation, which could incentivize officials to keep rates higher for longer. And that is precisely why, up until recently, bad news on the economy has been cheered on by investors. When the number of new jobs added in April 2024 totaled 175,000, below the Street-estimated 240,000, the Dow Jones Industrials, S&P 500, and Nasdaq Composite surged between 1.3% and 2.1%.
On the flip side, stocks fell on the heels of the January 2023 jobs report, wherein payrolls increased by 517,000, blowing
past the consensus expectation of 187,000. One might think that most people would welcome signs of a robust job market, but for investors, this just meant the Fed had more work to do. As such, a clear trend — as paradoxical and backwards it may seem — was beginning to emerge: bad news on the economy was good news for stocks, and vice versa. Since the Fed began raising rates more than two years ago, there has been considerable progress towards its 2% inflation target. July’s Consumer Price Index (CPI) showed inflation of 2.9%, the lowest level since March 2021. Higher housing costs remain the stickiest part of inflation, accounting for 90% of the year-over-year increase, while food prices continue to trend down. Gas prices were unchanged during July, though J.P. Morgan warns energy is historically the most volatile component of CPI’s basket of goods.
But at a headline inflation level, mission accomplished,
right? Well, not exactly.
It seems the paradox has reversed. Bad news is no longer good news: bad news is simply bad news once again. And the shift in sentiment has been nothing subtle.
Weak economic reports that would have pleased investors just a few months ago are now being punished. Key manufacturing data dropped to an eightmonth low in July, signaling a slowdown in consumer spending and industrial activity. Stocks sold off in response, as investors feared the economy may not be as strong as it appears.
Then came the July employment report — the former poster child for bad-news-isgood-news — where job growth came in at 114,000, below the 185,000 estimate. The more concerning figure, however, was the unemployment rate of 4.3%, its highest level since October 2021. In response, investors referenced the so-called Sahm Rule, which says an economy has entered a recession once the
three-month moving average of the unemployment rate is at least half a percentage point higher than the 12-month low. Not surprisingly, stocks plunged, with the Dow posting its worst day in nearly two years on August 5th. Volatility moved in the opposite direction, spiking as investors rapidly sold in and out of positions to protect their portfolios.
The sell-off extended beyond the U.S. to other major markets, including Japan, which suffered its worst single-day drop since Wall Street’s Black Monday in 1987. Adding fuel to the fire was an unwinding of the yen carry trade — a.k.a., selling the Japanese yen to fund the purchase of higher-yielding currencies or other assets — after the Bank of Japan ended its historic regime of negative interest rates earlier this year and raised rates this summer. More proof that bad news is now just bad news.
“If data were to decline materially, the market would
price even more rate cuts. It definitely causes volatility because it’s really connected to these levered positions that are out there,” says Ben Emons of FedWatch Advisors. “I would look at leading indicators in particular.”
A 1% increase in retail sales during July, paired with a decline in weekly jobless claims, returned some hope to investors, but lingering concerns still remain. Goldman Sachs is now forecasting a 20% chance of a recession this year, up from 15% prior to the July jobs report, while J.P. Morgan says there is a 35% probability, compared to the previous 20%. Retailers like Home Depot are cutting their sales outlooks as consumers spend less on home improvement projects due to higher rates and economic unease. The once thriving experiences sector, fueled by the post-pandemic travel boom, is also warning of a slowdown. Disney says the lower-income consumer is facing more stress than before,
which is weighing on theme park traffic. Even fast-food chains and packaged goods companies like McDonald’s, Starbucks, and PepsiCo are reporting sales declines as household saving reserves dry up.
So what comes next? With stocks already returning to the levels they saw before the massive August 5th sell-off, were recessionary concerns overblown?
“The good news is that good news is good news now,” says Emons, who is keeping a close eye on the Fed’s next move. What the central bank does at its September meeting will likely have a major impact on the markets. It is all but certain that the Fed will lower rates, according to the CME FedWatch Tool, but whether that means 25 or 50 basis points remains to be seen. Economic data almost always lags current conditions, so the question is whether there is more bad news (which, remember, is now just bad news) to come. If so, are rate cuts in
September enough to save the economy from dipping, even briefly, into a recession?
As one Wall Street insider told me, those complaining about inflation may soon realize that higher egg prices are far better than not having a job at all. The paradox of bad-news-is-goodnews may finally be over, but perhaps rooting for warning signs in the first place led to more trouble than they were worth to begin with. Michelle Yu (MBA ’26) is passionate about all things media, with experience in business news, documentary film, broadcast journalism, and television. She graduated from Columbia University with a degree in Film and Media Studies and was a producer for CNBC prior to HBS.
INDUSTRY INSIGHTS
Paris 2024: Which Brands Won Gold?
The
Summer Olympics in Paris presented an Olympic-sized consumer engagement opportunity – at a price.
Meredith Nolan, Industry Insights Editor
To the joy of many, including myself, this summer brought the return of one of the world’s biggest sporting events: the 2024 Summer Olympics in Paris. The Olympics is an opportunity for countries to send the best of the best to perform on the world stage, for audiences to become experts on events ranging from basketball to badminton to breaking, and for brands to vie for the attention of over three billion viewers, per EMarketer.
As someone who was fortunate enough to attend the Olympics for a few days, I had not fully appreciated the businessside of the Games until I was almost unable to buy a coffee because I did not have a Visa credit card. As the Olympics’ official payment sponsor for nearly 40 years, Visa is the only credit card accepted at Olympic concessions, forcing customers to either take out a Visa prepaid card at the stadiums or pay cash. Deliberately introducing customer friction comes at a heavy price – though economic terms of Visa’s arrangement with the International Olympic Committee (IOC) are undisclosed, contracts are estimated to be worth several hundred million dollars at a minimum. Coca Cola and Chinese dairy company Mengniu are rumored to be paying an estimated three billion dollars to be an official sponsor of the Olympic Games from 2021 to 2032.
The steep price to become an official Olympic sponsor reflects the unique degree of access that sponsors enjoy, and brand deals now represent a core IOC revenue stream. A non-profit organization, the IOC generates the majority of its revenue from the sale of media rights and commercial partnerships. From 2017 to 2021, the IOC generated $7.6 billion of revenue, 61% from broadcast rights and 30% from its highest sponsorship tier, The Olympic Partner (TOP) global sponsorship program. At Paris, the TOP program consisted of only fifteen sponsors, all marquee companies in their respective sectors, including AB InBev, Airbnb, Alibaba, Coca Cola / Mengniu, Intel, Omega, P&G, Samsung, and Visa to name a few. These partners generally receive exclusive category rights (i.e., they are the only corporate sponsor in their industry) and the right to use Olympic imaging.
Capitalizing on their unique positioning, TOP sponsors often use the Olympics as an opportunity to launch new products or to introduce new audiences to existing products.
Visa CMO Frank Cooper III explained their strategy to Forbes, saying, “we consistently
use the global stage of the Olympics to introduce new payment technologies. During the London Games in 2012, we promoted the idea of ‘contactless payments.’ At Río 2016, we introduced the first-ever NFCenabled, tokenized wearable...In Tokyo in 2020, we focused on the convenience and security of cashless payments.”
Along the same vein, AB InBev made Corona Cero, its zero-alcohol beer, the global beer sponsor of the Olympic Games after becoming an Olympic partner in January 2024. Growing from only 19 markets at the start of 2024, AB InBev expanded Corona Cero into an additional 21 markets ahead of the Paris Olympics, clearly identifying the Olympics as a unique customer acquisition opportunity for the relatively new product given the absence of leading non-alcoholic options Guinness 0 and Heineken 0.0 at Olympic venues. In theory, the lack of competition and sheer size of the Olympics makes it a compelling product launch opportunity. In practice, however, there are risks
to such a strategy, exacerbated by the costly investment required. For one, introducing customer friction and eliminating choice may frustrate potential new customers. When I could not use a credit card to buy coffee, I just used cash – and I am not sure if that made me any more excited to get a Visa credit card. Regular ticket holders who learned that the only beer available for purchase at Paris stadiums was non-alcoholic (due to Paris laws restricting the sale of alcohol at sports venues) might have left with a sour taste in their mouth for Corona Cero. Alternatively, instead of becoming an official Olympic sponsor, brands can also directly sponsor athletes or National Olympic Committees (NOCs) to take advantage of the unique branding and storytelling opportunity of the Olympics. All sponsorships must comply with “Rule 40,” the IOC’s guidelines on how athletes and brands can commercialize activities around the games. Notably, there is a designated “blackout period” during which non-Olympic
partners face severe restrictions in how they can use sponsored athletes or NOCs’ images and athletes are similarly restricted in sponsor acknowledgement. For years, as opposed to penalizing brands themselves, violation of Rule 40 risked athletes’ Olympic eligibility, making it a point of contention between athletes and the IOC.
However, this changed in 2019 when the IOC updated Rule 40 to relax restrictions on nonOlympic sponsors – in exchange for signing a contract exposing them to potential penalties for rule violations. Subject to certain conditions, like avoiding use of Olympic copyrighted terms, companies are now allowed to congratulate sponsored athletes for their athletic performances and athletes can thank sponsors.
The IOC also launched a pilot program (“Pilot Project”) ahead of the Paris 2024 Olympics, which allowed for sporting goods brands, like Nike, Adidas, and Under Armor, to use official Olympic images and hashtags under certain conditions for sponsored athletes or NOC teams
– further broadening access for non-official Olympic partners.
For Nike in particular, this development comes at a critical juncture, as the Company faces financial headwinds and increasing competition from disruptive athletic brands. In June, the company revised its 2025 revenue guidance to be down mid-single digits, following a flat fiscal year 2024 (up 1% on currency-neutral basis), citing headwinds in digital, its lifestyle brands, and key markets like China. The Company is also in the midst of executing a two billion dollar cost savings initiative to improve supply chain efficiency and drive “newness” in product innovation. The company plans to re-allocate these savings into reinvigorating the brand, per recent earnings announcements. As part of these efforts, Nike doubled down on the Olympics. During its fiscal Q4 earnings call, Nike’s Chief Financial Officer, Matthew Friend, outlined Nike plans to reinvest “nearly one billion dollars in consumer-facing activities in Fiscal 25…to accelerate [Nike’s] return to strong growth. This includes…driving bigger, bolder brand campaigns, starting with EC24 and the Paris Olympics.”
To that end, Nike was expected to spend more on the Paris Olympics than any prior Olympics, per reports from Vogue Business. Nike not only served as an official sponsor of the US Olympic team, it also hosted a three-day, multi-million dollar event with 40 athletes, 400 media and partners, and 13 new AI-generated sneakers (“A.I.R” sneakers), all designed to re-energize the Nike brand. Nike’s investment in Paris 2024 emphasizes how it’s not only the athletes who are taking the world stage during the Olympics.
Fortunately for brands like Visa and Nike, who decided to invest heavily into the Paris Olympics, early results suggest Paris 2024 was widely a success in terms of viewership, engagement, and content production. In the US, NBC Universal reported a total audience delivery of 30.6 million primetime viewers, up 82% vs. the Tokyo Olympics. NBC Sports social channels also registered 6.55 billion impressions on Olympics content, up 184% and 53% vs. Tokyo and Rio respectively. Clearly, the Games present companies with an Olympicsized consumer engagement opportunity – the only question is how best to “pay” to play.
Meredith Nolan (MBA ’26) is originally from outside of Washington, D.C. She graduated from the University of Virginia with a BS degree in Commerce in 2020. Prior to the HBS MBA, Meredith worked in private equity in San Francisco on TPG’s Consumer team.
The CPG Cinematic Universe: Mars’ $36 Billion Bet On Snacks
Continued from front cover
water and hot fudge sundaes can make sense to consume at once.
Unlocking the brand equity accessible in these surprise moments offers a critical competitive advantage in a consumer environment in which private label products grew unit mix by 0.7% and grew dollar sales by 6% in 2023. Many brands are betting big on the economic effect of joining seemingly disparate products, assuming splashy launches will attract consumers’ attention away from cheaper substitutes. With their eccentric products in hand, brands are asking consumers, “Does it even matter if it tastes good, as long as it intrigues you?” In mid-August, self-dubbed “bestie” brands, Oreo and Coca-Cola, launched limited edition sandwich cookies and drinks mixing the familiar tastes of two iconic brands to yield an unexpected surpriseand-delight for customers. On the salty side of the aisle, CheezIt partnered with Hidden Valley for their June release of Cheez-It x Hidden Valley Ranch Crackers, following the successful launch of Hidden Valley Ranch’s Cheezy Ranch Condiment & Dressing. Certain brands have even become more explicit in their aim to be associated with entertainment. Netflix launched a branded popcorn with Indiana Popcorn, featuring flavors such as Cult Classic Cheddar Kettle Corn and Swoonworthy Cinnamon Kettle Corn to enjoy while watching one’s favorite new show. Meanwhile, the surging prebiotic soda company, Olipop, released its newest flavor, Olipop x Barbie Peaches & Cream, in collaboration with Mattel to massive success, outselling eggs at the supermarket Sprouts during its launch.
On the heels of such innovation and continued pressure from thrifty customers trading down to private label substitutes, Mars announced a $36 billion deal to acquire Kellanova, known for iconic brands including Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, NutriGrain, Eggo, Kellogg’s (international) and RXBAR. Late last year, Kellanova was created by Kellogg’s, which spun off its North American cereal business, now known as WK Kellogg Co., from its snack business, now known as Kellanova. Kellanova has outperformed its peers since the spinoff, growing comparable sales 4% year-overyear and raising its full-year 2024 guidance.
Mars has historically been prized for its chocolate-forward portfolio, owning such brands as M&Ms, Snickers, Extra, Kind, Trufru, Twix, Skittles, Hubba Bubba, Altoids, 3 Musketeers, and more. A private company, Mars has struggled
as U.S. chocolate sales have dropped by 5.5% over the past year following a run-up in cocoa prices. Together with Kellanova and pending antitrust review, Mars would control 8% of the U.S. snack market, rivaling its largest competitor, PepsiCo, which commands a 9% share. Importantly, there is limited overlap between the two companies’ product portfolios, with Mars having a larger presence in confections and chocolate snacking while Kellanova has a larger presence in salty snacks. Combined, Mars and Kellanova would control seven snack and confectionery brands generating over $1 billion of sales a year, creating a tremendous platform for innovation with meaningful dollar impact to win back the many customers who have turned away from the allure of branded products for private label substitutes. Such investment in innovation will be necessary to serve the notable uptick in snacking over the past few years. Nearly half of U.S. consumers are eating three or more snacks a day, up 8% in the past two years, according to a report published by Circana Group in 2023. Meanwhile, snack discovery is increasingly associated with forms of entertainment. According to Mondelez International, 56% of global consumers find snack information on social media, while 54% report finding snack information through video content such as YouTube. It is reasonable to envision a product roadmap in which snacking follows the trajectory of a film
– from discovery online, to the main event of delightful consumption, to the glowing review or taste test on TikTok.
As CPG crystallizes as an entertainment vessel, the realizable value of brand equity will increase. Just as Mattel is mining its intellectual property for a slate of upcoming films after the success of Barbie, I would not be surprised to both see continued intra-company cross-pollination of CPG products (I’m personally waiting for Eggos baked with M&Ms, or Skittles flavored Pop-Tarts, or Twix Rice Crispies from Mars) as well as the diversification
of CPG into entertainment vehicles, a tradition Mars has already employed for many years with its “spokescandy” cast of M&Ms characters. Surely there may be brand dilution and consumer confusion if conglomerates over-rotate into collaborations and gimmicks, but ultimately, I believe Mars is smartly capitalizing on the delightful entertainment that is the universification of U.S. snack cabinets. The opportunity for CPG companies to capture outsized economic value will depend on their ability to entice consumers with undreamt-of treats, calling each other into
Jake Goodman (MBA ’26) is originally from Davie, Florida. He graduated from Brown University with an honors degree in English and Economics in 2019. Prior to HBS, Jake worked in corporate development, strategic finance, and retail strategy and operations at Gopuff, a rapid convenience app, in Miami, and for Barclays in New York City. He is an avid banjo and guitar player and misses the Florida sun dearly.
delicious marriages from across the aisle.
Source: Kellanova Jun 25, 2024
Source: Packaging World.
What’s in a Name? Everything, Apparently
Santiago Gil Gallardo (MBA ’26) explores the most crucial decision in branding.
Industry Insights Editor
Juliet may have been onto something when she mused that “A rose by any other name would smell as sweet.” But would people queue up for hours to buy the latest iPhone if Apple were called “Executex”? What about “Matrix Electronics”?
(Believe it or not, both were strong contenders.) In the world of business, names are not just labels – they are the first chapter in a brand’s story, and sometimes, they are worth billions.
Think about it: your name is your first possession. It shapes you before you can shape it back and, most importantly, it plants an idea – a perception of who you are – in people’s minds before you can have any say. Psychological research supports this idea; for instance, the Pygmalion Effect demonstrates how the expectations others have of us, often influenced by something as simple as a name, can significantly shape our outcomes – creating a selffulfilling prophecy where we grow into the identity our name suggests. Some of the most profound character explorations in literature follow this very arc.
From Grendel to Frankenstein’s monster, these characters are molded by the perceptions imposed upon them, ultimately accepting – and even embracing – the identities they have been assigned by others. A name can honor legacy, inspire greatness, weigh heavily, or simply feel right. It is a profound choice because names carry power – they are shortcuts to understanding, distilling complex identities into a single word. Simply put, names are the threads that weave identity into the fabric of our existence.
This principle applies even more acutely to brands. A brand name isn’t just a word; it is a vessel of meaning, conjuring images, feelings, and expectations in the minds of consumers. In a marketplace crowded with choices, a name can be the difference between triumph and obscurity. The name is the first touchpoint in establishing the brand’s most critical mission: to develop a narrative that resonates and sticks in the minds of consumers.
According to Kantar BrandZ’s 2024 report, Apple became the first company to boast more than $1 trillion in brand value alone. The mere concept of what Apple represents in our collective psyche is worth nearly as much as the GDP of Saudi Arabia. Such a valuation is anything but an anomaly. The report further reveals that the top 10 most valuable global brands are collectively worth over $4 trillion. As expected, tech giants reign supreme, with Google ($753 billion), Microsoft
($713 billion), and Amazon ($577 billion) following Apple’s lead. Breaking the trend are the golden arches of McDonald’s, which ranks fifth and boasts a brand value surpassing $222 billion – greater than the market capitalization of many Fortune 500 companies. Kantar currently estimates that the Global Top 100 collectively represent $8.3 trillion in brand value – just below their $8.7 trillion peak in 2022, but still 76% above their pre-Covid valuation.
These figures underscore a crucial point: in today’s market, a brand’s name and identity can be its most valuable asset. But what makes these names so powerful? Often, it is a combination of clever etymology, cultural resonance, and strategic positioning. Consider Nvidia, which ranks 6th in Kantar’s report with a brand value of $202 billion and is the largest mover with a 178% year-over-year increase. The name “Nvidia” is a portmanteau, combining “Invidia” (Latin for “envy”) with “Vidia” (relating to video technology). Envy, represented by the color green, resonates throughout Nvidia’s branding. In other words, Nvidia’s name is directly imbued with the aspiration to create such high-quality technology that it would naturally become the industry’s envy. This etymological foundation subtly positions the company as both forward-thinking and desirable, reinforcing its cutting-edge ethos. While most consumers might not dissect the name, its impact on brand perception is undeniable.
But what is it, exactly, about the etymology of names that resonates so deeply?
Etymologically rich names possess a unique ability to operate on a subconscious level, creating layers of meaning that permeate a brand’s identity. This depth, while not always immediately apparent, contributes significantly to overall brand perception and resonance. The subliminal effect of such names can be a potent force in cultivating brand identity and fostering consumer loyalty. This subconscious impact works through a network of interwoven mechanisms. Names rooted in cultural or historical references tap into collective memories and shared values, creating an instant, if unspoken, connection. The very sounds of a name can evoke certain qualities or emotions, influencing perception before conscious thought even begins. These etymologically rich names activate related concepts in the mind, building a web of associations that reinforces the brand’s desired attributes. In fact, names that feel right are processed more easily by the brain, leading to a sense of familiarity and preference. Ever struggled to find the right word to describe something, only to recognize it immediately upon hearing it? The same principle applies here.
Nike is a prime example of this powerful psychological effect. Named after the Greek goddess of victory, the brand embodies triumph and success. Its name, both simple and powerful, is instantly recognizable and easy to recall, resonating deeply with athletes and aspirational consumers. The iconic swoosh logo further amplifies this identity, symbolizing movement, speed, and the relentless pursuit of excellence. Together, the name and logo craft a unified narrative that has elevated Nike to the pinnacle of global branding. In the automotive sector, Volvo derives its name from the Latin “volvere” and translates to “I roll.” This root not only emphasizes motion – the very essence of what a car does –but also implies progress and forward momentum, contributing to Volvo’s reputation for reliable, forward-thinking vehicles. While these examples showcase the power of positive etymology, the flip side can be equally impactful. A poorly chosen name can lead to embarrassment, lost sales, or even total brand failure. One oftcited example is the Chevy Nova, which supposedly did not sell well in Latin American markets given “no va” means “doesn’t go” in Spanish – not ideal for a car. As it turns out, however, that story is utterly apocryphal; the model sold quite well. Mitsubishi, in turn, actually had to learn that lesson when it was forced to change the name of the
Pajero SUV to Montero, given the former’s lewd connotations in many Spanish-speaking countries. There seems to be a pattern amongst car companies, as the Ford Pinto faced a similar fate in Brazil, where the name is slang for male genitalia, leading to mockery and poor sales. In a different product category, “snow” seems like a great name for a line of soaps and detergents, evoking purity and cleanliness. However, international expansion might pose challenges for Barf, the Iranian company whose Farsi name unfortunately conveys the opposite impression in Englishspeaking markets.
On a lighter note, some brands have found success by playfully subverting expectations. Häagen-Dazs, for instance, was crafted to evoke a sense of European quality, even though it has no meaning in any language and was created by a Polish immigrant in the Bronx. This creative approach to naming has served the brand well, helping it build a premium image despite its invented etymology. While the power of etymology in branding is clear, it is crucial to strike a delicate balance. Overemphasis on etymological cleverness can lead to names that, while intellectually satisfying, fail to connect with the average consumer. The challenge lies in crafting names that work on multiple levels – appealing both to those who appreciate the etymological depth and those who simply find the name catchy
or memorable. They serve not just as labels, but as gateways to the brand’s story, inviting consumers to engage more deeply with what the company represents.
As we navigate an increasingly digital and global marketplace, the art and science of naming become ever more crucial. Whether you’re a budding entrepreneur or a seasoned business leader, remember that in the world of branding, a name is not just a name – it is the foundation of your company’s identity, the seed of its story, and potentially, the key to its success. HBS students interested in pursuing entrepreneurship might leave the task of creating a company name to the last minute, but consumers and investors ultimately do judge a book at least partially by its cover. A decision that could, it appears, be worth billions.
In the end, Juliet was wrong. A rose by any other name might smell as sweet, but it wouldn’t sell as well. In the business world, names matter. They can be the difference between a billiondollar brand and a cautionary MBA case study.
Santiago Gil Gallardo (MBA ’26) is originally from Mexico City. He graduated from Tecnológico de Monterrey with a degree in Industrial and Systems Engineering. Before HBS, he worked in venture capital at IGNIA and investment banking at a boutique firm in Mexico City.
Santiago Gil Gallardo,
Kantar’s 100 Most Valuable Global Brands (Kantar BrandZ 2024 Most Valuable Global Brands Report)
&
The Business of “Brat”
Charli XCX
combines pop excellence and marketing acumen in latest album.
Danielle Mitalipov, Editor
Unlike the iconic hue of her recent album Brat, Charli XCX isn’t green. The Essex-born artist made her Billboard debut in 2012 with Icona Pop collab single “I Love It,” followed by “Boom Clap” in 2014. In the decade since, Charli XCX has eschewed traditional pop stardom in favor of developing a more experimental sound –although she has stated that she does “not identify with music genres,” her EP “Vroom Vroom” (produced by the late SOPHIE) is widely credited with pioneering the subgenre of hyperpop. The avant-garde pivot has made her a critical darling, but the singer isn’t immune to doubt about the road not taken. “I used to never think about Billboard / But now I’ve started thinkin’ again / Wonderin’ ‘bout whether I think I deserve commercial success,” she sings wistfully on “Rewind.”
The smash debut of Brat has earned Charli XCX that elusive commercial success alongside critical acclaim, proving that she is not just a pop savant but a savvy businesswoman to boot. “I like the marketing of pop music more than I am interested in actual pop music,” she recently told Billboard magazine. “Desire is cultivated by being a little bit hard to reach, a little bit separate. That’s why people want to wait in a queue at f–king Supreme, you know what I mean?” The buzz around Brat might look effortless, but its branding and go-to-market strategy have been a masterclass in shrewdly cultivating that desire.
Take, for instance, the album’s distinctive cover art. Kermit might have lamented that bein’ green means blending in, but the aggressive lime color of Brat was designed to stand out: Charli XCX and her creative
team spent five months selecting the perfect bilious shade. The typography, a pixelated Arial font, is an homage to social media in the early aughts, an era which inspired the album. The resulting aesthetic is “garish” and “unfinished,” according to Brat creative consultant Brent David Freaney. It’s a clever combination that both draws the consumer’s eye and hints at the whiplash of its tracklist, which ping pongs frenetically between brash beats that ooze confidence and tender tracks revealing an underlying insecurity.
If its catchy tunes and slick branding poised Brat for success, the ingenious rollout of the project secured the momentum for its dizzying cultural ascent.
The music video for “360,” the album’s final single, began to stoke online furor ahead of Brat’s release by teasingly showcasing internet icons including Julia Fox, Gabriette, and Rachel Sennott. The video even includes a cameo from OG “it girl” Chloë Sevigny, who struts out of a convertible to join her fellow microcelebrities in a group pose reminiscent of a Renaissance painting, with Charli XCX at its center. “I was told everyone was doing bratty versions of themselves,” Sevigny remarked of the direction she received for her guest appearance.
Sevigny’s remarks speak to the creative vision of Brat, which Charli XCX has described as inclusive despite its trappings of exclusivity – anyone can be a brat in their own unique way. “Actually, everyone can join the club. It’s just that everybody joins at slightly different times in slightly different ways,” she explained. Deliberate marketing has helped extend that open invitation to fans (Charli XCX noted that “my private Instagram posts, or the 400-person Boiler Room, or a random cinema screening of a new music video in L.A., or a text message from me” are points of contact which
allow fans to “join the club”), but it has also contributed to an ethos of authenticity, according to former Warner Music strategist Hugo Lieber (MBA ’26). “What really hits home is an ability to communicate authentically with fans and bring them into the fold…Brat was a perfect storm of cultural moments and marketing,” he explained. Brat’s social media rollout has been especially instrumental in building that genuine connection. For instance, social media posts come directly from Charli XCX’s accounts, and her “antipromotion” promotions – such as a tongue-in-cheek tweet poking fun at marketing ideas presumably from her label –positions Brat as a subversion of commercial expectation. Other posts lean into meme culture by sharing Brat art generators or semi-jokingly proclaiming that “kamala IS brat.”
Iterations on tracks also showcase the refreshingly freewheeling and unpretentious nature of Charli XCX’s creative process. The remix of “Girl, so confusing” featuring Lorde, for example, was an unplanned addendum to the original track, in which Charli XCX reveals her misgivings about the “Royals” singer, whom she cryptically describes as a musician who prefers poetry to parties and has “the same hair.” Lorde, upon hearing the track the day before Brat’s release, suggested creating a new version of the song which resolves their grievances via lyrical dialogue – or, as her verse more punchily puts it, “let’s work it out on the remix.” “There was such a rawness and an immediacy to what I was saying,” Lorde noted. There’s something very brat about that…Only Charli could make that happen.” The spontaneous release spurred further excitement about the album, fulfilling the song’s winking prophecy that “when we put this to bed / the internet will go crazy.”
It’s this authenticity that gives Charli XCX a credible claim to both tap into and define our cultural zeitgeist with Brat.” Clever social media presence is all but a requirement for musicians today, but Charli’s music has always been inextricably linked with social media (she made her musical debut by posting songs on MySpace in 2008). And although plenty of pop stars have recently paid lip service to 2010s indie sleaze, skeptics who accused Charli of merely appropriating the era were promptly reminded that she had lived it, performing in underground raves as a fourteen year-old. Nor can her work be reduced to stale club throwbacks, given her cutting edge contributions to hyperpop, a genre characterized by Atlantic magazine as a “rebellion [that] marches under the seemingly tame mantle of pop” by incorporating the transgressive properties of other genres such as, coincidentally, “punk’s brattiness.”
That first-hand experience likely helped her recognize the growing cultural backlash against the polished minimalism which dominated the early 2020s, musically and otherwise. The grimy party girl glamor of Brat is true to Charli’s origins, but it’s also a well-timed invitation to let loose in the face of an uncertain future and all its accompanying anxieties, a role pop music has historically played with aplomb (see the “recession pop” of 2008). However, the album is more than mere escapism. Its lighthearted promotion of debauchery conceals a more important offer it makes to young women in particular, urging them to consider a loud and unpolished alternative to the “clean girl” aesthetic of recent years. That messier mode of femininity is not limited to smudged eyeliner and three a.m. tequila shots – it also encourages honest examination into the messy complexity of women’s internal lives, including
the less-than-perfect way they can treat other women. Like “Girl, so confusing,” many of the songs on Brat explore Charli’s fraught relationships with other women, which contain pettiness and jealousy just as they contain love and admiration. “You can, I think, experience envy and still be a good person who champions other women…[but] we don’t talk about it because we’re all supposed to be strong and confident,” she elaborated in an interview with Vox magazine. Ultimately, Brat’s success indicates a growing hunger for pop that takes risks, according to Media & Entertainment Club co-president Miles Jefferson (MBA ’25). “I can’t help but think that the rise of indie female artists like Charli and Chappell Roan are somehow a response to the success of super safe and clean cut [artists such as] Taylor Swift,” he pointed out. It’s time for pop to evolve beyond onedimensional feminist anthems (such as Katy Perry’s cloying recent single “Woman’s World”) and role model girl-next-door pop stars. Better to be real than relatable, Brat argues. Perhaps it’s no surprise that the album shares a name with Barbie’s bolder and more impudent cousin (looking at you, Bratz). Move over Barbie pink – this summer is Brat green.
Danielle Mitalipov (MBA ’25) is an RC interested in both sustainability and entertainment & media. She is a Student Sustainability Associate (SSA), and helped organize the HBS Climate Symposium. Prior to HBS, she studied philosophy at Stanford University, and led merchandising for a global brand at adidas. Outside of school, she is usually writing or watching the latest release at the Coolidge Corner Theater.
Getting Caregivers the Support they Deserve: HBS Alumna-Founded Grayce Raises $10.4 Million Series A
Chuck Isgar (MBA ’25) speaks with Grayce Co-Founder Kassidee Kipp (MBA ’10) to discuss how the company has embraced a B2B2C model and leaned into human care partners.
When Kassidee Kipp (MBA ’10) and her co-founder Julia Cohen Sebastien started Grayce five years ago, very few employers knew that a benefits category focused on “caregiving” existed. Covid, however, spurred a focus on employee retention and satisfaction, and Grayce plays an important role in that mission: ensuring that caretakers are provided with the support they need. Caretakers refer to people who spend time helping take care of the physical, emotional, and logistical needs of a family member or other close relationship. While not a part of an employee’s “day job,” caretaking responsibilities outside of work can be all consuming, hence the incentive for employers to help their employees manage.
Through a “tech-enabled services” approach, Grayce creates a care plan to support each member, wherever they are on the care journey. Grayce helps with topics ranging from educating about healthcare options after a diagnosis, to understanding how to handle insurance claims, to putting together a list of homes for an upcoming move. Each of these can represent daunting tasks embedded in “complex systems,” according to Kipp.
Grayce’s mission is to provide a “concierge”-like strategic partner that supports the caretaker in traversing these different challenges. They do this by providing access to licensed clinical social workers, called “care partners.” In a space that has an increasing number of competitors, Grayce differentiates themselves by taking an approach that embodies both technology and human services, whereas many competitors have leaned harder into the technology aspect.
This model seems to be working, with the company achieving Net Promoter Scores in the 80’s and high member loyalty. However, building this company is not as simple as having happy end users. The company is B2B2C in that they sell to employers, often a Chief Human Resources Officer (CHRO), but the end users are the employees who utilize the service. There is an inherent challenge embedded in this model: an employee’s role as a caretaker is not always easily identifiable. Even though
there is usually a sizable portion of any employee population that is playing the role of a caretaker, a CHRO cannot necessarily quantify this as well as they might be able to quantify metrics like the number of visits to a doctor that employees take over any given time period.
Despite the difficulty of finding caretakers, there is a perhaps unexpected boost for the business: the scope of caretakers is significantly larger than what one might initially imagine. Kipp initially thought they would target caretakers focused on supporting aging parents. However, they quickly learned that there is a large population of caretakers tending to the needs of kids, spouses, and beyond. They decided to broaden the platform, including with respect to geography: just because an employee is based in a foreign country does not mean you can “geofence your users” as the people they are taking care of are often located across the globe.
Grayce works under a model wherein most employers pay a platform fee to get going, after which the employer is
charged per employee who uses Grayce’s platform. In this way, Grayce has an incentive to find the caretakers in the population, but the company must strike a balance as it relates to usage. Kipp shared that the company is “not seeking to maximize [daily active users].” Rather, the company’s goal is to be top of mind when someone has a crisis, while simultaneously providing ongoing support to those who are actively in caretaking roles.
Initially the company sold personal coaching time with its care partners on an hourly basis. That coaching is now unlimited, but the company tries to allocate human support where it is most valuable. Relatedly, the company has a robust online community which can help provide insights on caretaking topics such as supporting loved ones through loneliness, where 1-1 coaching may be less helpful than a community-based approach.
Kipp shared that the company receives “so many applications for care partners” and attributes this to a variety of factors: social workers who work with big, bureaucratic hospital
organizations experience burnout themselves and they appreciate that Grayce allows them to use their skillset in a more modern form. Further, Grayce allows them to work from home and gain flexibility. Kipp hinted that over time, the company will likely be able to “more sophisticatedly” match caretakers to care partners.
Grayce has gradually moved upmarket: while they used to focus on law firms and tech companies, they find themselves now targeting larger workforces such as manufacturers and big sporting goods stores. A key question going forward will be activation, especially given the company’s incentive to identify and onboard the caretakers in a customer’s employee population..
The company of over 30 employees recently raised a $10.4 million Series A round of financing led by Maveron. Kipp shared that they will use the proceeds to hire key functional leaders, build out their development team, and make significant investments into their sales efforts. With “margins upwards of 70%,” it seems as if
the company has found a business model that works and solves the needs of several groups: employers are able to decrease employee churn, care partners are finding themselves with more flexible and engaging work, and most importantly, caretakers are receiving the support for which they desperately yearn.
Chuck Isgar (MBA ’25) loves all things startups. He created and runs Above Board, a weekly newsletter which features Q&A’s about startup investment, board management, and corporate governance. Most recently, he served as the Chief of Staff at Scenery, a Series A-stage startup. Chuck previously co-founded and was the CEO of Intern From Home, a recruiting technology company that served students from over 600 colleges. Chuck was a Schwarzman Scholar at Tsinghua University and earned his bachelor’s from Brown University.
Chuck Isgar, Entrepreneurship Editor
Photo credit: Kassidee Kipp (MBA ‘10)
Leading with Purpose
HBS Student Association Co-Presidents are transforming the student experience.
Talha Minhas, Contributor
HBS attracts world-class individual talent, but the sum would be no greater than the whole of its parts without a cohort of community leaders striving to build a conducive learning environment for all. At the heart of this community is the Student Association (SA) – HBS’ take on student government – which strives to enrich the student experience and ensure every student feels they belong on campus. To understand what makes the SA tick, I interviewed its current Co-Presidents, Hayden Tanabe and Taylor Walden.
Tanabe, currently in his third student government position, sees his role as a Co-President as an opportunity to enhance the HBS experience for everyone.
“I’ve always been a student government kid… And I also know what it feels like not to feel like I belong. I think that this role gives a nice opportunity to make sure that everyone does feel like they belong [here at HBS].” His experience pairs nicely with the fresh perspective brought by Walden, who is currently serving in her first-ever student government position. Friends first, then Co-Presidents, Walden and Tanabe complement each other in a Yin and Yang duality: Walden’s natural tendency to stay grounded combines harmoniously with Tanabe’s high energy, lead-from-the-front approach, ultimately shaping a dynamic student experience at HBS.
The SA’s far-reaching
remit covers all things student experience. With a strong focus on diversity, equity, and inclusion, the Co-Presidents have put together a well-rounded team of 14 individuals representing the student body, Sections, and affinity groups. “We lean on [our team] for input and advice... Everything that we do, we will always give our team a heads up and collect input from them before it goes broad,” commented Tanabe. The team makes decisions with a highly collaborative approach, driving outcomes that generate value distributed equitably across the student body.
Walden and Tanabe have adopted a “less is more” approach, focusing on the few things that will create the most
impact for students. This year’s major focus areas include enhancing financial accessibility, increasing student engagement, and strengthening campus resources. For instance, they plan on improving access to resources (free coffee on Mondays and a $10 printing credit for every student), along with making events like Holidazzle more affordable by redistributing funds from less popular events. Boosting attendance at community-wide programs like MyTakes, which support diverse student affinity groups while fostering vulnerability and close connection, is another priority goal. Finally, there is a concerted effort to enhance the Products Office by expanding its offerings and leveraging its revenue to
further subsidize event costs. Altogether, the SA endeavors to use initiatives like these to improve the student experience through better resource management and inclusive programming.
Collecting feedback from the student body to identify areas of improvement is fundamental to Walden and Tanabe’s leadership approach. With a diverse executive team that includes representatives from each Section, the SA aims to be agile and responsive to student needs. “Our hope is that not only do they focus on their role and the scope of what it is, but we have a smaller team than years past, so we can be nimble,” explains Tanabe. This revamped structure will let the SA swiftly collect and act on feedback. The SA is scheduled to meet with Section presidents, initially every week and transitioning to bi-weekly and monthly checkins, to gather insights from each group of 90. “Hayden and I will meet with every Section president... to get real-time feedback,” mentioned Walden, highlighting the commitment to understanding and addressing student needs. The SA leadership also values direct interaction, and invites students to share their perspectives through channels like email and WhatsApp. By being physically present at most events, Walden and Tanabe seek to ensure that student voices are heard and acted upon.
The message for RCs eager to make their way into SA is clear: seize the opportunity to get involved and make a difference. As Walden shared, “It’s so rewarding to be involved at the Section level because your
Section is such a big part of your RC year.” This is not only a way to build genuine relationships with peers and faculty, but also to shape a top-notch Section experience. Even if it is your first time running for a leadership position, do not let fear hold you back. “You face your fears and you do it, and then you come out on the other side,” encourages Walden. Various positions beyond Section presidency are equally valuable, and your involvement, whether through formal roles or ad hoc additional responsibilities, can significantly impact your community. Remember, a rising tide lifts all boats, and stepping up to contribute will enhance both your experience and that of your peers. Tanabe and Walden are determined to enhance the HBS student experience during their time as Co-Presidents. Their commitment to making the student experience even better than their own exemplifies HBS’ mission to educate leaders who make a difference in the world. As Walden and Tanabe’s experiences show, stepping up to lead can make your time at HBS even more rewarding and impactful, enriching both your journey and that of your classmates.
Talha Minhas (MBA ’26) is originally from Pakistan. He graduated from Lahore University of Management Science (LUMS) with a bachelors in Management Science. Prior to the HBS MBA, Talha worked in e-commerce and fintech across South Asian emerging markets.
Beginnings and Endings
Adhitya
Adhitya Raghavan, Contributor
As I step into my second year at Harvard Business School, I’m filled with a mix of emotions – excitement, nervousness, and a touch of nostalgia. Beginnings and endings have a way of heightening our senses, making us more attuned to the changes that lie ahead and the experiences we’ve left behind.
Leaving behind the comfort of freshly cooked Indian food at home, the familiarity of focusing solely on one thing – be it an internship or, in my case, working on a startup idea – is never easy. It’s bittersweet to part with what we know and step into the unknown. But in this bittersweetness lies the beauty of new beginnings. It’s
an opportunity to form new friendships, discover new places, and learn new things. For many of us, the start of the second year feels like a fresh chapter in our stories. We’ve successfully navigated the challenges of the first year,
and now we’re given the chance to approach things with a fresh perspective. I’m particularly excited about meeting new RCs and ECs in my role as a dorm ambassador, and I look forward to taking new classes that push me out of my comfort zone, like
Negotiation.
Whether discussing case studies in a new light or diving into an entirely different extracurricular, let curiosity guide you. As I reflect on my first year, I fondly remember some of these leaps of faith – the biggest being singing on stage during Cabaret and dancing with my section during EKTA. Yes, those moments trump any and all academic or professional achievements.
The power of beginnings and endings lies in the blank slate they offer. They give us a unique chance to craft a new persona, leave behind the baggage of the past, and start fresh. You might make minor tweaks, or you might entirely reinvent yourself – academically, socially, or personally. Either way, this is your moment to shape your journey. As I plunge into my second year, I do so
with excitement and a sense of adventure. I don’t know exactly what lies ahead, but I do know that it will be a year to remember. I hope to continue writing my story with passion, curiosity, and an open heart. To all the students embarking on this journey with me, I wish you the best of luck as you chart your own paths. Let’s embrace the beginnings and endings with a sense of wonder, and a commitment to making this year truly memorable.
Adhitya Raghavan (MBA ’25) is originally from Chennai, India. He learned about rockets during his undergrad at Princeton, studying Mechanical and Aerospace engineering. Adhitya loves playing sports and attempting to write poetry, and hopes to build his own energy company post-HBS.
QB1 at HBS
How Joe Critchlow’s (MBA ’26) college football experience brought him to Cambridge.
Even amidst the chaos of START week, Joe Critchlow was hard to miss among the 2026 RC class. He looks the part of a Division I quarterback – at 6’4” with bright red hair, he stands out in any crowd. And while his natural athletic ability helped him contribute to victorious performances in tug-of-war and bucketball during the Section Olympics, it’s unlikely that his classmates in Section H fully appreciated his athletic pedigree or his one-of-a-kind journey to HBS.
Over the last 10 years, Critchlow’s path to campus led him through packed football stadiums in Tennessee and Utah, remote Québécois villages, and a yearlong stint in Hong Kong at the height of the COVID-19 pandemic. Along the way, he met and married his wife, Allie, and became the father to two sons, Brooks and Cal, all while pursuing a career in consulting at Bain & Co. He’s achieved more in his 27 years than many do in a lifetime, and much of that can be attributed to his first love – the game of football.
The son of a former college quarterback, Critchlow’s football life began in earnest at the age of eight in Franklin, Tennessee, just outside Nashville. He played several sports throughout his youth, but football – and the quarterback position – was his passion from the start. A natural leader, he always felt comfortable with the ball in his hand, and even as a young player gravitated to the more intellectual elements of the game, memorizing Pop Warner playbooks and analyzing film long before he was ever expected to do so. When asked about how he separated himself from others, even early in his career, he said that he “learned quickly that if you can be smart about how you play the game, you can give yourself a leg up.”
That leg up let him excel at Franklin High School, where he earned the Mid-State Mr. Football Award following his senior season. His success naturally led to attention from college coaches throughout the Southeast, and he first envisioned continuing his career close to home at Vanderbilt, where he had begun to build a strong relationship with the coaching staff. His
desire to balance academics with the allure of playing in the SEC seemed to dovetail well with what the Commodores had to offer, and the thought of staying in his home city was appealing. However, things weren’t that simple.
Like so many devout members of the Church of Jesus Christ of Latter-day Saints (LDS), Joe grew up committed to the idea of serving an LDS mission prior to attending college. And while it’s not uncommon for programs in the West to accommodate recruits’ desires to pursue religious service, the concept of taking two years away from school and football is generally foreign in largely Protestant, football-crazed SEC country. With many college football coaches unwilling to wait two years for him to join their respective rosters, Critchlow was forced to look elsewhere. As a young Mormon, he’d grown up idolizing BYU (Brigham Young University) quarterbacks: recent stars like John Beck and Taysom Hill, as well as legends like Steve Young and Jim McMahon. This personal and religious connection, along with the genuine commitment to academics that he found within the football program, made BYU a perfect fit.
Before taking the field in Provo, however, Critchlow was called to spend two years in Canada as a missionary for his church. Living in Quebec, he had three primary objectives:
support the regional LDS community, serve the local area philanthropically, and grow the faith in an unfamiliar territory. Needless to say, he didn’t have much free time – and even when he had a spare moment or two, the lack of adequate facilities made training in the way to which he was accustomed virtually impossible. So, to keep his skills fresh, he became a missionary for the game of football, recruiting locals unfamiliar with the sport to run routes and catch passes as he tried to stay sharp during his time away.
Despite his best efforts, reintegrating into big-time college football was always going to be a challenge after two years away. Even at BYU, it’s extremely uncommon for returning missionaries to see the field soon after their return – the first two years of a collegiate athlete’s career are generally focused on training and development, and while he was serving in Quebec, his former classmates had been lifting weights and studying playbooks. At least as far as his first year was concerned, Critchlow was behind the curve, and few around Provo expected much from him in the fall of 2017.
Nevertheless, he immediately took to Offensive Coordinator Ty Detmer’s prostyle offense and made his debut against Boise State in early October, just four months after arriving on campus. As injuries sidelined starting quarterback
Tanner Mangum and secondstringer Beau Hoge, depleting the BYU quarterback room, he gained experience in the weeks that followed and was elevated to starting quarterback for the final three games of the season. After starting the season 2-8, the unheralded freshman rallied the locker room for the final stretch, and they won two of their last three games under Critchlow’s command. It’s tough for any freshman to enter a situation like that and find success, much less one who had taken two full years away from the sport. Despite the Cougars’ poor record, Critchlow’s on-field performance and willingness to lead by example in earning the trust of his teammates signaled promise for the seasons to follow.
Unfortunately, the combination of the losing season and the high-dollar, win-now nature of college football led to changes on the BYU coaching staff. Detmer was fired after the season and replaced by Jeff Grimes, whose wide-open, runand-gun offensive philosophy differed significantly from Detmer’s more traditional prostyle attack. Unfortunately, as an old-school, drop-back pocket passer, Critchlow’s game didn’t translate as well to the new system. This change, paired with the addition of freshman quarterback Zach Wilson – who would go on to be the 2nd overall pick in the 2021 NFL Draft –led to a significant decrease in Critchlow’s playing time in 2018
and 2019. With his degree in hand after just three years, he decided to enter the transfer portal, and quickly received attention from North Carolina State, Tennessee, and other schools in the market for experienced quarterbacks. Destiny had other plans, however, and doubt surrounding the viability of the 2020 college football season led to a nearly complete halt on transfers that Spring. At a personal, athletic, and professional crossroads, Critchlow decided to hang up the cleats earlier than he ever expected and begin his career in the business world. As a married man facing an uncertain football future, he leveraged a personal connection to find a role with a Hong Kong-based manufacturing company. On short notice, he and his wife headed to East Asia, surviving quarantine and immersing themselves in the culture before Bain called about an off-cycle interview opportunity. Sensing a similar team environment to the one he’d so relished as an athlete, he’d long had an interest in pursuing a career in consulting. And while he’d enjoyed his experience abroad, he and his wife hoped to move closer to family as they started a family of their own. So, navigating yet another short timeline, he interviewed well enough to earn an offer in Bain’s Boston office, and he and his wife returned to the United States just in time for the birth of their first child.
The couple have lived in Boston – his wife’s hometown –ever since, and recently moved into SFP with their two boys. And while he isn’t as close to the sport as he once was, Critchlow keeps up with many of his former teammates and attributes much of what he’s achieved to his experience as a football player. Confident that “anyone that plays football is uniquely qualified to perform in a team setting,” he felt that the traits he developed as an athlete – delaying gratification, prioritizing preparation, and unifying diverse teams in pursuit of common goals – translates well not only to consulting, but to the classroom setting at HBS. He recalls tumultuous times in his athletic career and realizes that the lessons he learned in persistence, diligence, and navigating uncertainty ultimately facilitated the successes he’s achieved throughout his life. So, if you see him around and are curious about a Division I quarterback’s experience at HBS, don’t hesitate to ask – after all, he’s tough to miss.
John Mahoney (MBA ’26) is a native of West Des Moines, Iowa. He graduated from the University of Notre Dame in 2021 with a degree in Finance. While in college, he was a walk-on defensive back for the Fighting Irish and wrote a book about his experience, titled “History Through The Headsets.” Prior to coming to HBS, John worked in consulting and strategy in Minneapolis and Chicago.
John Mahoney, Contributor
How I Spent My Summer: Dispatch from the ECs
having a ball at my feet, no matter where I was.
Throughout high school, I played on the varsity team and at 17, I had the opportunity to play for a first division team in Lebanon. Although I was offered a professional contract a couple of months later, I declined it due to the limited prospects for soccer in Lebanon. Over time, it became clear to me that I wanted to combine my passion for soccer with my professional career. My whole HBS application was about my soccer journey and how I wanted to get back to soccer post HBS for work.
What was your experience like and how does it influence your post-HBS goals?
My experience was nothing short of a dream: I worked with several teams within several departments – Strategy, Marketing, and Commercial – on different projects for the current season and the next one. One project that stood out was the Chelsea vs. Inter Milan friendly. I was co-leading the organization of the event from a marketing perspective with a goal to reach commercial targets in terms of revenue and attendance. It turned out to be the best friendly in Chelsea history, overachieving commercial targets and recording the highest attendance in history. The fans loved meeting the new players and manager for the first time at home. We even had Chelsea’s ex-captain and legend John Terry among the match’s key attendees, which was very well appreciated by the fans. This experience confirmed my initial thoughts of wanting to work in the soccer industry. Working in your passion is truly rewarding; you don’t feel like you’re really working and always give 150% of yourself at work.
What is your advice for RCs looking at similar internship opportunities?
One key piece of advice: Build your network in the industry. I had zero connections in the soccer industry prior to joining HBS, and the minute I started at HBS back in August 2023 I set myself a mission to grow my network over a period of nine months. Building my network entailed sending 150+ cold emails, attending 40+ sports conferences and events, and connecting with 300+ individuals working in European soccer clubs on LinkedIn.
I faced numerous rejections from several European soccer clubs along the way. Despite these setbacks, I stayed motivated, continued reaching out to people, and kept building my network.
You have to be “obsessed” with your goal to really make your way into the soccer industry in Europe, especially if you start with zero connections in the industry. Keep pushing and always believe in your goal.
Arianna Camacho (MBA ’25)
Where did you work this summer?
I worked at the IFC (International Finance Corporation), which is the
private-sector arm of the World Bank. I was working with the venture capital team, a small team within the IFC that makes equity investments (mostly at the growth stage) in startups that service Latin America, South / East Asia, Africa and Eastern Europe. My time was divided between the fintech, edtech, and medtech teams, both working on live deals and doing broader market research and analysis to uncover investment opportunities.
Why did you choose to work with this organization?
My background is in management consulting, and I was interested in exploring an investing role over the summer. I was interested in growth stage venture, but I was also curious about impact investing. The IFC role provided the perfect mix that I was looking for. I was able to experience venture investment, but also see how the IFC incorporated “non-financial” criteria into their investment and portfolio management decisions. Additionally, I love Washington, DC and was thrilled to spend my summer there.
What is your advice for RCs looking at similar internship opportunities?
My biggest piece of advice for RCs is to treat the internship as an opportunity to test a hypothesis. It doesn’t have to be a role you’re 100% certain about, because the whole point (at least to me) is to explore something new and step outside of your comfort zone. If you’re curious about a particular area, don’t let uncertainty hold you back – this is the perfect time to experiment and gain insights into something different.
I would also advise RCs to be upfront during the interview process about the type of work they’re interested in, whether that’s within a specific industry, region, or area of expertise. It’s important to communicate your preferences early and continue doing so throughout the internship.
Lastly, remember that internships are also about building relationships. Take the time to network with your colleagues, ask thoughtful questions, and seek feedback. By doing so, you not only gain valuable insights into the organization but also position yourself for future opportunities.
Where did you work this summer?
I was in Seoul, South Korea working as a Global Strategist intern with Samsung Global Strategy Group (GSG), Samsung’s internal consulting division. Samsung GSG drives strategic recommendations and solves key business challenges globally, with projects in corporate development, new business opportunities, product strategy, and more.
Why did you choose to work there?
I wanted an adventure! I was looking to try something different, diversify my skills, and gain an interesting life experience. After working mainly in Canada, Samsung’s global nature was appealing –I spent the summer exploring Seoul and working on projects spanning the US, Europe, Asia, and the Middle East.
This role also matched my interests in technology and strategy, and allowed me to expand my skillset. Prior to HBS I had extensive experience in brand management in consumer health, so Samsung gave me a broader strategic business view beyond marketing. It was a chance to go from an operational to advisory role and from CPG to technology.
What was your experience like and how does it influence your post-HBS goals?
The project I worked on was developing Samsung’s global D2C (Direct to Consumer) e-commerce expansion strategy. I created a market sizing model for the global electronics market and conducted market research and data analysis to identify key e-commerce trends. I also deep-dived on specific markets and developed a comprehensive expansion proposal and action plan for Samsung India.
This experience exposed me to different working cultures and diverse global teams, and enhanced my strategic mindset, analytical skills, and business/ technology acumen. But the best part of my experience was certainly living in Seoul, an amazing, vibrant city to explore, and a base for my travels in Korea and Japan.
I’m still exploring my postHBS goals, but this experience provided valuable insights
into consumer technology and strategy, a new industry and function for me. It’s also clarified what truly matters to me, in terms of the importance of finding purpose (and a supportive culture) in my work.
What is your advice for RCs looking at similar opportunities?
Be open to the new and unexpected! This is a chance to experiment, whether with geography, industry, or function, and find new learning opportunities.
Culture is vital – finding an environment that suits your working style, has people you connect with, and allows you to be your authentic self makes a huge difference in your dayto-day happiness. Chatting with alumni and employees can help gauge these intangibles.
Lead with purpose – I’ve realized that above all I need to believe in the mission of my company and feel like I’m making a positive impact on society. Weaving your purpose and passion, whatever it may be, into your storyline can also help in the recruitment process.
Chaitanya Jain (MBA ’25)
Where did you work this summer?
I worked on the Bitcoin Strategy team at MicroStrategy, a publicly listed enterprise software company that adopted Bitcoin as its primary treasury reserve asset four years ago. Today, the company holds approximately $15 billion worth of Bitcoin. As part of this lean team, I worked closely with the leadership across capital markets, treasury, and investor relations functions.
Why did you choose to work with this organization?
Primarily, I wanted to explore the bitcoin space, and MicroStrategy is unique as it is by far the largest corporate holder of bitcoin globally and is led by a visionary billionaire founder, Michael Saylor. Secondly, I wanted to work at a larger organization as opposed to working at a startup. Lastly, this opportunity matched my skillsets from my prior role in private equity.
What was your experience like and how does it influence your post-HBS goals?
It has been a very positive experience overall. I plan to continue working part-time for MicroStrategy during the EC year and join full-time postHBS. This is what I aspired to achieve through HBS – a triple pivot from being an investor in Indian PE to managing a bitcoin treasury in a US corporate.
What is your advice for RCs looking at similar internship opportunities?
I recommend reaching out to people via Twitter and LinkedIn. If you’re pivoting to a niche sector, make sure to leverage the HBS brand name and build a body of work during your time at HBS, like publishing articles (including in the Harbus, of course), and speaking at
conferences, to establish your credibility and interest. Lastly, increase your luck surface area by reaching out to HBS professors and alumni working in or interested in the space.
Veshal Arul Prakash (MBA ’25)
Where did you work this summer?
I took the Rock Summer Fellowship and decided to work on my own startup in the marketing tech space. I’ve been doing a good number of discovery interviews and technical discussions with engineers. I also built out a prototype as well as a pitch deck, which I’m now going to use to try to find company partners that could provide feedback on my product.
What was your experience like and how does it influence your post-HBS goals?
Overall, I’ve enjoyed my summer experience. I thought it was really good in the sense that it was fruitful at the end of the day. Early on I was struggling a bit, because the initial idea I came up with did not seem to be that viable.
So, I had to really rethink and dig deep into all the different types of problems I’ve encountered working as a product manager and on a growth team before, as well as my pain-points as a consumer. That process was very reflective, and I think it was healthy. But at the same time, there was tons of ambiguity. I’m glad I I gave myself enough time to think through the different options first, and then pivot to discovery. I now feel like I’ve built up really good momentum. So overall, it’s been a great summer.
What is your advice for RCs looking at similar internship opportunities?
I’d say the most important thing is to explore something that you haven’t done before and take some risks there. It’s okay to walk into an opportunity where you don’t really know that much. I think now is the best time to explore. At the minimum, you’ll walk away knowing what you like and what you don’t like.
The second thing: talking to your peers, your RC peers and EC peers, is really helpful, not only for learning about what type of job that they did and getting the detailed perspective, but for continuing to build your network.
Prior to joining HBS, Abhiram Karuppur (MBA ’25) worked in Houston, TX at Ara Partners, a private equity fund focused on energy transition and decarbonization technologies. A New Jersey native, he graduated with a B.S.E. in Chemical & Biological Engineering from Princeton University in 2019. Outside of class, you can find him biking around Boston’s many trails, dominating (sometimes) at pub trivia, or trying out the local food scene.
RuiLin Guo (MBA ’25)
Continued from front cover
The Secret to Mastering HBS
Unlock leadership by harnessing the power of Quantum Synergy.
Welcome to Harvard Business School, where the sharpest minds come to debate the most pressing issues of our time: Do we have the stamina to attend both the Gatsby Party and the 80s Party this week? Does the campus really need a fourth kombucha flavor in Spangler? And of course, how do we navigate the treacherous waters of networking without looking like we’re trying too hard? These are the questions that define our future.
But beyond the existential dilemmas of HBS life, there lies a deeper truth – one that I, as a mere student, have uncovered after countless case studies, late-night ideations, and the occasional system reboot. The secret to mastering HBS is not just in the network you build or the grades you earn, but in something far more profound: Quantum Synergy™.
Quantum
Synergy™:
The Future of Leadership
What is Quantum Synergy™, you ask? It’s a cuttingedge concept that transcends traditional business paradigms. Imagine a world where all your group project members are perfectly aligned, where every PowerPoint slide is both visually stunning and data-driven, and where the synergy between team members is so powerful that it generates its own Wi-Fi. That’s Quantum Synergy™.
As students of HBS, we’re constantly told to “think outside the box,” but Quantum Synergy™ teaches us that there is no box. In fact, there never was. The box was an illusion, a mere figment of our PowerPointobsessed imaginations. With Quantum Synergy™, we transcend the box, the circle, and even the dreaded triangle graph. We operate in a realm where ideas are not just exchanged –they are instantly optimized and executed by algorithms smarter than our entire cohort combined.
Applying Quantum Synergy™ to the Real World
You might wonder how Quantum Synergy™ can be applied in the real world. After all, as much as we’d like to, we can’t all become consultants who specialize in synergy optimization. But fear not! Quantum Synergy™ is versatile. Whether you’re aiming for a career in finance, tech, or the lucrative field of entrepreneurial toast-making, Quantum Synergy™ has you covered.
Take, for example, the classic HBS group project. Traditionally, this involves endless meetings, polite disagreements over font choices, and at least one person who mysteriously
disappears until the day before the presentation. With Quantum Synergy™, these inefficiencies are eliminated. The project plan is instantly downloaded into each team member’s brain (or cloud storage, for those who’ve upgraded), ensuring that everyone is on the same page, literally and metaphorically. And let’s talk about networking – an art form that every HBS student must master, lest they be left with a LinkedIn profile as barren as a winter landscape in Cambridge. Quantum Synergy™ revolutionizes networking by analyzing social cues, predicting conversation outcomes, and
suggesting optimal talking points in real-time. Imagine attending a networking event and always knowing the exact moment to drop that insightful comment about AI’s potential to disrupt the artisanal cheese market. With Quantum Synergy™, it’s not just possible – it’s inevitable.
The Future is Here, and It’s Written in Code
As we navigate the complexities of our MBA journey, it’s important to remember that we are not alone. We have access to tools and technologies that previous generations could only dream of – or in some cases, fear. But as we
embrace Quantum Synergy™, we must also acknowledge the growing presence of AI in our lives. After all, who else could have written an article like this, blending humor with such keen insights? Certainly not some student who’s been running on coffee and optimism for the past week. No, this level of brilliance can only be achieved by someone – or something – that never tires, never falters, and has access to every case study ever written. So, as you prepare for your next class discussion, remember to bring a healthy dose of Quantum Synergy™ with you. And if you ever find yourself wondering how to make the most
of your time at HBS, just ask yourself: What would AI do? Because sometimes, the smartest person in the room isn’t a person at all.
Ainsley Ingram (MBA ’25) is originally from a small town with surprisingly strong Wi-Fi, and studied Business Analytics as an undergraduate. Known for her sharp insights and even sharper wit, she has a knack for turning complex data into compelling narratives. When she’s not buried in case studies, Ainsley enjoys exploring Boston’s coffee scene and occasionally unplugs from her favorite productivity apps.
Ainsley Ingram, Contributor
FOMO No Mo’
The HBS alum who coined the Fear of Missing Out 20 years ago shares his take on how to beat it.
Patrick McGinnis (MBA ’04) was always the person who made up words. A selfproclaimed “simple kid from small-town Maine,” he coined a term that would end up in Merriam-Webster and come to define a generation: FOMO.
After powering through his GMAT exam in the Fall of 2001, McGinnis enjoyed a well-deserved night at the bar with friends in New York City. Stepping outside to head home in the wee hours, he was struck by the beautiful view of the city’s skyline downtown – and in particular, the World Trade Center. Waking the next morning, McGinnis headed to his office at Rockefeller Center, where he learned that the skyline would never look the same. That morning was September 11th, 2001. The tragic events of that day hit like a lightning bolt –along with feelings of sadness and anger, McGinnis was thrust into a carpe diem mindset. The world he previously knew had changed irrevocably, and as a result he felt an intense need to live in the present. Bringing that mentality to HBS, McGinnis tried to do everything. He said, “I just wanted to do it all. I realized everybody was the same - we were all equally frenzied.” Before long, though, stretching past capacity caused McGinnis to short-circuit. “One moment I just realized this sucks – I’m sick, stressed, hungover, and tired.” On top of that, McGinnis observed that HBS students hated to commit to anything. For fear of a better option, students were chronically indecisive. “I have 73 job offers for the summer, should I do McKinsey or Bain!?”
McGinnis boiled these observations down into a simple phrase that encapsulated the HBS student condition: Fear of Missing Out, or FOMO. A proud promoter, he slipped the term into conversations and emails whenever possible. Ultimately, he found the phenomenon so absurd that he had to write about it – in less than an hour, he whipped out a satirical piece that was printed in the Harbus right before graduation in 2004. Business Week ran an article on FOMO and HBS graduates spread it via word-of-mouth in their new places of employment. Ultimately, though, the term’s takeoff was made possible by a neighbor close to home in Cambridge. Seven minutes from McGinnis’ Soldiers’ Field Park apartment lived an undergraduate named Mark Zuckerberg. With the advent of social media, FOMO caught fire.
But what is it? McGinnis identified two core elements of FOMO: “aspirational” and “herd.” Aspirational FOMO
is our desire to get something “bigger, better, faster, shinier.”
It is our brain’s expectation of reward. It is dopamine, and it feels good. Herd FOMO, on the other hand, feels bad. It is an epinephrine-induced, fightor-flight sensation of anxiety.
“Everyone else is doing this; should I do it too?” Herd FOMO deprives us of agency – we lose the ability to decide for ourselves what is important.
This is nothing new, McGinnis pointed out: “FOMO has existed as long as people have roamed the Earth. It’s coded in our DNA. It’s a biological imperative.” For millennia, FOMO enabled our physical safety and survival. Maybe we stand a better chance against that lion if we stick together!
Since then, FOMO has evolved to center on perceived emotional safety – and that evolution has accelerated in the past twenty years. When McGinnis was in business school, “life was easier” – namely, because there was no social media. In fact, after
completing his summer internship in Prague, where text messaging was far more popular than it was in the United States, McGinnis remembered dismissively telling his classmates that texting would never catch on. Now, we live in a world with infinitely more social input.
Therefore, it is imperative that we “stay in touch with the triggers of FOMO,” as they have become increasingly abundant. Social media filters what we see, and shows us a highly curated version of the world around us. For that reason, McGinnis has deleted most social media from his cell phone, except for LinkedIn and Instagram (because he does “have to have some joy in life”). He also turns off cell phone notifications to compartmentalize the influx of digital triggers. For McGinnis, beating FOMO boils down to challenging oneself. Stop for a second and ask, “Is this as good as it looks? Why do I want to do this? Where is my motivation coming from?”
The inventor of FOMO recommends three tactics to beat it. First, take 24 hours before making any major decision. Let the dopamine fade, and give yourself space to think calmly and rationally. Second, leverage the wealth of life experience you have built over the years. Reflect on what you liked and did not like the last time around, and use that to make smarter decisions this time. Third, meditate to stop your mind from spinning. With just 10 minutes every day, McGinnis said his likelihood “to freak out has declined by 90%.” Above all, McGinnis urged HBS students: “Don’t live somebody else’s dream.” Succeeding in business school comes down to knowing the metrics for which you are optimizing. Have a clear sense of your values, use those values to prioritize, and evaluate how each opportunity fits into that prioritization scheme. McGinnis, for example, “lived in the library” as an undergraduate at Georgetown, so he optimized at
HBS for meeting every single person in his class. It was exhausting, and it would not have been the right goal for many – but McGinnis clearly defined his personal Key Performance Indicator, and held himself accountable to it. What will be yours?
More than just the man who coined the term FOMO, Patrick McGinnis is an author, speaker, venture capitalist, expert entrepreneur, and the host of a thriving podcast. Listen to FOMO Sapiens wherever you get your podcasts, and pick up your copy of The 10% Entrepreneur and Fear of Missing Out.
Tim Ford (MBA ’25) is originally from New Jersey. He graduated from the University of Virginia with degrees in Commerce and Spanish, and completed an M.Phil. in Latin American Studies at the University of Cambridge. Prior to the HBS MBA, Tim worked in growth equity at TPG in San Francisco.
Tim Ford, Editor-in-Chief
Is Business School… Wicked?
Are people born ‘Wicked’? Or do people have ‘Wickedness’ thrust upon them?
Will Hennessy, Contributor
This Fall, Wicked: Part One, the major motion picture adaptation of the famed Broadway musical Wicked, will take its galactic marketing forces and a $145 million production budget to return my favorite story to the center of the cultural zeitgeist. As a brand new HBS student, I wonder: is business school….wicked? And, as the Broadway show’s opening line goes: “Are people born wicked? Or is wickedness thrust upon them?”
For those unfamiliar, the show is a prequel to Dorothy’s story in The Wizard of Oz. It follows the journey of a green outcast called Elphaba (who would later become the “Wicked Witch of the West”) and the “practically perfect” Glinda (also known as the “Good Witch”) when they meet by chance at Shiz University. When Elphaba gets to school, she is enraged by the inequality she witnesses in the land of Oz, motivating her journey to find the all-powerful “Wizard” who can fix it.
You may ask, Will, what does any of this have to do with HBS? Like Elphaba’s hope for the Wizard, I, too, hope HBS will give me the tools to rewrite the future for the better. After months of working through the application process, I relate to Elphaba when she sings “The Wizard and I,” reflecting on transforming “this weird quirk I’ve tried to suppress or hide” into a “talent that could help me meet the Wizard.” I spent so much time articulating who I am and why an MBA made sense in my application that by the time I got in, I understood Elphaba’s sentiments, dreaming of how her life would change when she sings, “Cause, once you’re with the Wizard / No one, thinks you’re strange / No father is not proud of you / No sister acts ashamed.” Her dreams now have a chance to come true, and as a newly minted HBS student, so do mine. As I begin this MBA program, I am as hopeful as Elphaba. Harvard Business School must unlock worlds of possibility for me, right? I can almost picture the Elphaba in me singing from the John W. Weeks Footbridge, believing that my hard work is over, my daydreams are destined to come true, and my pain will go away merely because I made it here. Phew.
However, when Elphaba finally meets the Wizard, she learns he himself is wicked. Leveraging propaganda to maintain power, he perpetuates the exact problems of inequality she had hoped he would fix. Feeling betrayed, Elphaba speaks truth to power, calling the Wizard
a fraud. Meanwhile, Glinda, her “perfect” roommate, tries to persuade her to apologize to the Wizard to maintain the status quo in Oz. Elphaba sings, “I’m through with playing by the rules of someone else’s game,” in the iconic song, “Defying Gravity,” during which she learns to fly, a symbol of following her values even if doing so comes at “much too high a cost” (like being labeled “wicked”). So, what will I do when I find out that simply getting into HBS is not a golden ticket to an easy life? How do I, too, learn to fly here? I bet Elphaba would tell me I am looking for power in all the wrong places. A university itself has no real power, she
would argue, encouraging me to get past the hot air of prestige and have the humility to dare to do what I believe in, especially when everyone else disagrees, accepting the costly sacrifice. Easy. When the facade fades and reality sets in at HBS, while on a lonely late-night walk home after receiving another job rejection email, I hope to remember what sustained Elphaba to get to her next chapter: her unexpected friendship with Glinda. Despite their polarizing differences, these two witches are paired to be roommates at school. Petty disputes bring out the worst in each of them, leveraging each other’s insecurities to belittle
and dismiss. One of my favorite scenes is the school dance, where Glinda gives Elphaba her ugliest hat in an attempt to further her status as an outcast. In front of all of her classmates, Glinda sees her roommate raw, vulnerable, and alone, wearing the embarrassing hat she gave her. Instead of laughing with the rest of her classmates, she somehow changes her heart and mind and leans in and asks Elphaba to dance.
This small act sets afire a trajectory of the seemingly impossible: turning an enemy into a friend. It all comes full circle in the final song before the finale, where Elphaba and Glinda sing “For Good,” a duet
that begins with, “And we are led / To those who help us most to grow / If we let them.” I cling to the phrase “if we let them” as a reminder that none of this happens by chance, but becoming friends with the people I judge or who judge me comes from a willingness to learn more from the other. At HBS, I hope to defy my own predicaments and seek friendship with those I would least expect: those who grew up oceans away from me, hail from different industries, call me an old millennial for liking Harry Potter, and even, if I can muster the courage, those who like cats, too.
No, I do not believe anyone is born wicked, but I believe the inevitable wickedness of life will be thrust upon us, even here at business school. It is wicked that we cannot do everything every day and must choose a path and close doors. It is wicked that we will spend time falling in love with life at HBS only to be forced to say goodbye one day. It is wicked that the promise of our future will find a way to betray us, and our hearts will be broken by expectations from companies, faculty, and, yes, even friends. And yes, it is wicked that Ubers can cost that much, too. When wickedness comes for all of us over these next two years, Wicked tells us we have a choice: either hoard power out of fear like the Wizard or give power away with courage like Elphaba. I wish we could all remember how lonely it is to pick fear and close off, compete, and divide people by believing that the world is against you and only you. Instead, I hope we take the harder, more impressive, fulfilling path. The one that takes courage to stand up for your values but equally takes seriously the idea that the people most different from you may one day be your best friend and teach you about a new side of yourself. Being lucky enough to be changed “for good” starts by getting to know those who challenge you most, and that’s the way of the wicked.
HBS Class of 2026, let’s have a Wicked good time.
Will Hennessy (MBA ’26) hails from New Canaan, CT, where he watched his first TED talk in Ms. Steidl’s high school poetry class. Inspired, he eventually spent seven years working at TED Conferences, building a new podcast network media strategy, and most recently serving as the Director of Special Projects. Outside of work, he loves teaching courses in the outdoors and cares deeply about the power of friendships and K-12 public education.
The Real Registration Checklist: Class of 2026
How to keep type-A’s fitfully occupied between acceptance and admission.
“Congratulations – the answer is YES!”
It’s done. It’s DONE. You need read no further. You switch tabs and promptly delete the lease liability model you’ve been listlessly tweaking to the backing track of Microsoft Teams pings from your principal. You simultaneously pull up resignation letter templates and TikToks set to Kanye’s “What would it feel like if I didn’t win,” to add a little pizzazz and social media notoriety to that exit.
Sadly, no. Halt that derailing train of thought! Your principal wrote your recommendation and wishes for nothing but the best for you (and for your model in the next two hours). He will complement your giddy excitement with world-weary congratulations, himself now on the loan-payment side of the two best years of his life.
Outsource that lease model to a chartered accountant colleague and let me walk you through my “registration checklist” based on what my wild and precious brat summer was like.
1. Integrity Diligence: While the examination of (ostensibly) your life’s worth under a microscope is done, you will still have to wrest two more signoffs on it. First from your recommender, whose submissions bore the timeliness of a superhero cameo at eleventh hour (looking at you, Captain Marvel); with the difference between IST and EST time leveraged to give fake “endof-day” deadlines. And from your undergraduate college, that had one hour between 12 - 5pm (office closure) when you could catch them between lunch and leisurely tea; if you could physically show up and rat-maze between cubicles to facilitate.
Hopefully you will have feet on the ground to physically harass both parties into giving you your dues.
2. The Land of the Free: (for those of not-weak passports): Applying for the US visa is rather like being a part of an overinvolved literature fandom, like House of Leaves or Pynchon – why do I need a dissertation forum and comradeship to get through a seemingly simple task?
But, for a (hopefully) short period, you and 330k-odd Indian students will participate in the subversive US visa subculture.
You will peruse groups on Telegram (a remnant of pandemic pirating) titled “F1VISA” to check when the visa slots come online, starting at every ping (“I got my visa!”; 50 “Congratulations”; Pavloving yourself into a stressed sweat with each notification)
You will be locked out of the portal, and like a blocked ex investigating the disappeared WhatsApp Display Picture, check how soon you can go online again. (Did you know you could text people on Google Pay?) Finally, with appointment secured, you will then gather every scrap
of paper to legitimize your US claim in an unwieldy folder, which doubles as a human shield in the long line outside the embassy.
Best be prepared; the lovely lady I met in queue was forced to use elbows and wingspan to prevent the formation of a spontaneous second line outside the embassy at seven am. In a group of over 50 people whose populous motherland has engendered no faith in waiting for one’s turn, it’s a losing battle.
The real visa is the friends you make along the way.
In some cases, possibly the only one, as was the case for the applicant in line before me, who claimed to have applied only to Rutgers University, his “dream university,” on the advice of the aforementioned friends at r/f1visa, and was deemed not dream enough by the suspicious interviewer. By the time I made it to biometric verification, my hands were so sweaty I had to borrow a handkerchief from the guy behind me.
3. The Greenback Boogie: With Harvard’s own bank, HFCU, providing loans, you can spend less time worrying about a loan provider, and more time re-convincing yourself of business school after converting the 5-year monthly repayment number into your local currency. (Yes, it might be in-line with your current monthly salary.)
Douse the acidic tsunami in your stomach… (insert Gelusil here)…and input that monthly salary in your Financial Aid form
for some much-needed monetary relief. Quell your anxiety of accidentally committing financial fraud by not including in your net worth change in forgotten neobank accounts and $500 in Vauld from your one run-in with crypto in 2021.
4. Apples, Vaccines, Preventative Visits (anything to keep the doctor away): Just like its appearance on this list, you too will likely remember the required immunizations too late. Never fear! You are, hopefully, in a third-world country where two million people visit for medical tourism yearly. Do your blood tests twice. When you’re in disbelief about your low measles antigen count, take it again, they cost $30 a pop! Beg a doctor for the miracle of completing six months of Hep C vaccines in 2 months before discovering that Harvard, one of the foremost universities in a country currently at the top of the hegemony has, in fact, provisions if you need to be vaccinated. Of course, fresh off the trauma of wrangling your lawfully-earned marksheet out of your undergrad, you might be justified in not believing any university has its sh*t together. After you get through the battalion of mandated and preventative poking, pricking and prodding, it’s time to go shopping – at your local mom-and-pop pharmacy – to stock up. 1mg or any other online retailer will never win in this market because who else will give you five strips of Vasograin without a prescription?
5. 45kg to Start a New Life: Several carefullyitemized packing lists will be circulated your way, so I will offer no advice here other than to beg personal discretion. One’s pressure cooker might well be a white elephant, especially if in your twenty-five odd years of existence no pull has propelled you to use it before.
And that’s it. You’re done with the big ones! Other significant items like phone plans, bank accounts, and cards can be deferred to a later date –or so I hope, as I sit here with no answers writing this out. Please note, this author takes no liability for any consequences arising from following this listicle.
Ramya Vijayram (MBA ‘26) is originally from Chennai, India. She graduated from the Indian Institute of Technology, Madras, with a Bachelor’s and Master’s in Biotechnology. Prior to the Harvard MBA, Ramya worked at Warburg Pincus in Mumbai, India, and McKinsey and Co. in India.
Ramya Vijayram, Contributor
Why is it that boss’s samosa-tea vice and Gelusil follow-up can be discussed across the room, but not my transcript?
A strong sense of community, celebration, and US-patriotic spirit.
MBA starter pack. For the weak of stomach, Gelusil can be incorporated directly into a drink for a deceptively bubblegum-looking cocktail!
ARTS &
MitaliPOV
Danielle Mitalipov (MBA ’25) offers advice to conflicted MBA students in Issue No. 2.
Danielle Mitalipov, Editor
This marks the second edition of the Harbus advice column, MitaliPOV, where we answer anonymous questions on topics ranging from career woes to romantic dilemmas. Creative liberties are taken with student signatures, but otherwise these queries are directly from HBS students!
How do I focus on a narrow set of recruiting opportunities instead of trying to maximize optionality and go after every type of job? What will it take to convince myself that focusing on one thing is better? How do I address the underlying insecurity? – Obsessed with Optionality
Dear Obsessed,
Your quandary is not a unique one, especially at an institution that teaches us to calculate the financial value of an option – in fact, you’ve just so happened to ask for advice from the publication that coined the term “FOMO” in 2004! I would be remiss, therefore, not to cite HBS finance professor Mihir A. Desai, who penned an excellent piece for The Harvard Crimson titled “The Trouble with Optionality”:
The comfort of a highpaying job at a prestigious firm surrounded by smart people is simply too much to give up. When that happens, the dreams that those options were meant to enable slowly recede into the background. For a few, those destinations are in fact their dreams come true – but for every one of those, there are ten entrepreneurs, artists, and restaurateurs that get trapped in those institutions… they fail to understand that all of these intervening choices will change them fundamentally – and they are, in fact, the sum total of those choices.
In short, the mindset of maximizing optionality obscures the fact that perpetually putting off life decisions is itself a choice that closes off possibilities. Of course, if a rubber stamp is a prerequisite to achieving or clarifying your goals, that can be a perfectly reasonable short-term tradeoff. However, it doesn’t sound like a necessary one in your case. To me, your letter
indicates that you know what you want to do (which is a wonderful and rare position to be in!) but are wavering about whether to pursue it directly. Perhaps some zealous recruiters have promised you that XYZ years of experience at their company will open any subsequent door you desire.
Don’t be swayed by their siren song, which is masterfully composed to lead risk-averse MBAs into the Options Labyrinth (or, in the words of Dr. Seuss, “The Waiting Place”). It is all too easy to get lost there – humans are, unfortunately, remarkably good at justifying the path of least resistance, which often entails extending a detour to our dreams until it becomes the final destination. The infamous golden handcuffs contribute to this insidious phenomenon, but so too does the simple reality that every passing year you spend accruing rubber stamps for the thing you actually want to do is, well, another year you spent not doing that thing! As the saying goes, how we spend our days is how we spend our lives. Worse yet, you will likely start slowly drifting farther away from the person you want to be, as Professor Desai points out.
This risk scales exponentially with the degree of disconnect between your dream job and your in-between job: the longer we spend immersing ourselves in a certain context, the harder it is to imagine any other way to be. This is the thesis of David Foster Wallace’s thoughtprovoking 2005 commencement speech “This is Water,” which I’ll also draw from here:
Everybody worships….
But the insidious thing about [most] forms of worship is not that they’re evil or sinful, it’s that they’re unconscious. They are default settings. They’re the kind of worship you just gradually slip into, day after day, getting more and more selective about what you see and how you measure value without ever being fully aware that that’s what you’re doing.
If you must enter the Options Labyrinth, take a page out of Ariadne’s book and mark your escape route with a trail of golden thread or, in your case, with clear goals and a set timeframe. But don’t forget Professor Desai’s mathematically sound wisdom about life paths: “The shortest distance between two points is reliably a straight line.”
I want to have a strong friendship with some of my sectionmates but something always feels competitive (whether it be for grades, relationships, or career options). How do I go about building a deeper relationship without those big mitigators? –Exhausted by Envy
Dear Exhausted,
Jealousy is a hard emotion to
reckon with partially because it’s so stigmatized – most of us spend our lives trying to lock away the “green-eyed monster.” Perhaps the first step to doing so, however, is to set aside our shame and look it straight in the eyes. I applaud you for doing so with this letter! In fact, you’ve inspired me to admit that I am writing and rewriting this article partly in an effort to avoid drafting my Whatsapp section update. My summer has not exactly gone as planned, and although I know it’s silly, I’m dreading sharing a recap after spending the past few weeks reading impressive updates from my sectionmates.
The truth is envy is a perfectly normal emotion (we are social animals after all, so trying to understand how we stack up to others is only natural), and like all emotions, it is not intrinsically right or wrong. Before taking action, I’d encourage you to sit with that feeling for a few moments. What is it trying to tell you? Could it be a signal of a deeper insecurity you’re wrestling with? You mention noticing competition surrounding grades, relationships, and careers – do any of these areas feel especially prickly to you? It’s worth digging into these potentially uncomfortable root causes, if only because acknowledging them is the first step to overcoming them. In the process, you might find that some of that envy will naturally
dissipate.
However, you might find that your dilemma is influenced, or at least exacerbated, by external factors. For all its virtues, there are few places that breed more competition and concern with status than the corporate world, and since business school is a microcosm of the corporate world, it’s not unusual to feel that dynamic seeping into your section classroom. It’s always helpful to be cognizant of the fact that your peers, despite being very accomplished and impressive, are only human. Like you, they struggle with doubt and insecurity, and perhaps they are trying to disguise those feelings with the occasional humble brag disguised as a class comment or Instagram post. So take those markers with a grain of salt, and try to remind yourself that life is not a zero-sum game and that you, too, have a lot to offer (I know this is easier said than done – I’m obviously having trouble taking my own advice at the moment).
Rest assured that you and your sectionmates have plenty of time to drop your guard and share some vulnerability, especially if you are an RC. Doing that with ninety people is a nigh impossible task for some, so try to get to know others individually or one-on-one. In my experience, sometimes leaving the bubble of campus helps to speed along bonding. But most of all, take
a deep breath and trust that you will find friends at HBS sooner or later – just as the universe tends towards entropy and evolution converges into crabs, life inevitably yields friendship for those who open themselves to connection. As those relationships flourish, know that the occasional impulse for comparison is bound to happen, even with the people we love. I hope you don’t mistake this inevitable aspect of the human experience for evidence that you are not worthy of friendship. If you find yourself struggling with guilt about these thoughts, it can help to flip the script slightly: you’ve simply noticed something you admire about your friend, something I’d wager drew you to them in the first place! Try sharing the compliment with them instead of privately ruminating on it. As a bonus, you might find it draws you both closer.
Danielle Mitalipov (MBA ’25) is an RC interested in both sustainability and entertainment & media. She is a Student Sustainability Associate (SSA), and helped organize the HBS Climate Symposium. Prior to HBS, she studied philosophy at Stanford University, and led merchandising for a global brand at adidas. Outside of school, she is usually writing or watching the latest release at the Coolidge Corner Theater.
The Crossword
Schoolhouse Rock
DELANEY BURNS AND MAYA BISWAS
Schoolhouse Rock
24 Representations in a video game
25 Favorite molecule of the MS/MBA: Biotech program
26 Wilson of the WNBA
Representations in a video game
Cranberry class 28 Cooking meas. 30 Bovine female
32 Stage after zygote
25 Favorite molecule of the MS/MBA: Biotech program
35 In the style of
26 Wilson of the WNBA
37 What stays with Vegas?
Cranberry class 28 Cooking meas. 30 Bovine female
32 Stage after zygote
38 Area between North and South Korea (abbr.)
39 Neptune's home
35 In the style of
37 What stays with Vegas?
41 It may be raised
42 Phones from a South Korean company
43 Keaton or Sawyer
38 Area between North and South Korea (abbr.)
44 SoCal region
39 Neptune’s home
41 It may be raised
45 Speaking like a comedian
42 Phones from a South Korean company 43 Keaton or Sawyer 44 SoCal region
46 Not required 47 Steel reinforcements
48 Popular coastal attractions
45 Speaking like a comedian
52 "Jump" man, with Van 55 Iffy
56 Average HBS grades
46 Not required 47 Steel reinforcements
48 Popular coastal attractions
52 “Jump” man, with Van 55 Iffy
57 You won't win one in a Shad pickup game 60 Lennon's love 61 Startup role for a 59A 62 Baby goat
56 Average HBS grades
57 You won’t win one in a Shad pickup game
60 Lennon’s love
61 Startup role for a 59A
62 Baby goat
Maya Biswas (MBA ‘25) is from Bedford, Massachusetts and graduated from Cornell University in 2018 with a degree in Biology. Prior to HBS she worked at a biotech company in Cambridge.
Delaney Burns (MS/MBA ‘25) is originally from the Scituate, Massachusetts. She graduated from MIT with degrees in Chemical Engineering and Biology. Prior to HBS, Delaney worked at McKinsey & Company in their Life Sciences practice.
Maya Biswas, Crossword Editor
Delaney Burns, Crossword Editor
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