Podcast appearances and mentions of Josh Lerner

Philippe AghionCollège de FranceÉconomie des institutions, de l'innovation et de la croissanceAnnée 2023-2024Colloque - Conference on the Economics of Innovation in Memory of Zvi Griliches : The Diffusion of New TechnologiesColloque en anglais organisé par Philippe Aghion, Lee Branstetter et Adam Jaffe.Intervenant(s)Josh Lerner, "The Diffusion of New Technologies"(Co-authors: A. Kalyani, N. Bloom, M. Carvalho, T. Hassan, A. Tahoun)Discussant: Gaetan de Rassenfosse

Welcome back to Season two of Educational Alpha! In our first episode of the season, we sit down with Josh Lerner, a renowned professor at Harvard Business School and an economics and private equity expert. They explore the complex world of private equity, discussing its evolution, the blend of public and private markets, and the future of investment strategies. Josh shares his journey into private equity and provides a deep dive into commitment strategies, manager selection, and the influence of generative AI in the industry. Join us as we explore these intricate topics and uncover valuable insights with one of the leading minds in the field.

10 months, 41 episodes, over 1000 followers and more than 11, 500 listens, and Educational Alpha closes out its first season! CAIA Association CEO, Bill Kelly and an eclectic group of guests within the world of finance shared their professional or personal journeys, career and life advice, and perspectives on the industry. There was always more to the story … In this brief retrospective episode, Bill Kelly and producer, Suzie Rodkey look back at Season 1, reflecting on a few unforgettable moments. Also, we'll update you on the launch of Season 2 on January 10, with Josh Lerner, American economist known for his research in venture capital, private equity, and innovation and entrepreneurship. Listen in!

They say they make companies more efficient through savvy management. Critics say they bend the rules to enrich themselves at the expense of consumers and employees. Can they both be right? (Probably not.) RESOURCES:Plunder: Private Equity's Plan to Pillage America, by Brendan Ballou (2023).Two and Twenty: How the Masters of Private Equity Always Win, by Sachin Khajuria (2022).“The Economic Effects of Private Equity Buyouts,” by Steven J. Davis, John Haltiwanger, Kyle Handley, Ben Lipsius, Josh Lerner, and Javier Miranda (SSRN, 2019)."In Silicon Valley, Even Mobile Homes Are Getting Too Pricey for Longtime Residents," by Tracy Lien (Los Angeles Times, 2017).EXTRAS:"Should You Trust Private Equity to Take Care of Your Dog?" by Freakonomics Radio (2023)."Mobile Home Parks," by The Economics of Everyday Things (2023)."The Secret Life of a C.E.O.," series by Freakonomics Radio (2018)."Extra: David Rubenstein Full Interview," by Freakonomics Radio (2018).

Harvard professor Josh Lerner explains the risks and requirements of public intervention in establishing a thriving venture capital and entrepreneurial ecosystem. Professor Lerner tells Ross Butler that seeding a venture capital industry is a difficult and slow process – it's not just the case of emulating Silicon Valley. With reference to his classic work, ‘Boulevard of Broken Dreams‘, Ross Butler asks for Josh's key recommendations, and in particular whether increasing the supply of venture capital or the demand for it, is the more sensible route for policymakers. With reference to the US, Japan, Australia, the EU and Great Britain, this […]

Harvard professor Josh Lerner explains the risks and requirements of public intervention in establishing a thriving venture capital and entrepreneurial ecosystem. Professor Lerner tells Ross Butler that seeding a venture capital industry is a difficult and slow process – it’s not just the case of emulating Silicon Valley. With reference to his classic work, ‘Boulevard […]

Anyone who has ever been to a public hearing or community meeting would agree that participatory democracy can be boring. Hours of repetitive presentations, alternatingly alarmist or complacent, for or against, accompanied by constant heckling, often with no clear outcome or decision. Is this the best democracy can offer? In Making Democracy Fun, Josh Lerner offers a novel solution for the sad state of our deliberative democracy: the power of good game design. What if public meetings featured competition and collaboration (such as team challenges), clear rules (presented and modeled in multiple ways), measurable progress (such as scores and levels), and engaging sounds and visuals? These game mechanics would make meetings more effective and more enjoyable—even fun. Lerner reports that institutions as diverse as the United Nations, the U.S. Army, and grassroots community groups are already using games and game-like processes to encourage participation. Drawing on more than a decade of practical experience and extensive research, he explains how games have been integrated into a variety of public programs in North and South America. He offers rich stories of game techniques in action, in children's councils, social service programs, and participatory budgeting and planning. With these real-world examples in mind, Lerner describes five kinds of games and twenty-six game mechanics that are especially relevant for democracy. He finds that when governments and organizations use games and design their programs to be more like games, public participation becomes more attractive, effective, and transparent. Game design can make democracy fun—and make it work. Josh Lerner is Executive Director of The Participatory Budgeting Project, a nonprofit organization in New York City that empowers communities to decide how to spend public money. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

Philippe AghionCollège de FranceÉconomie des institutions, de l'innovation et de la croissanceAnnée 2022-2023Colloque - Entrepreneurship, Risk, Talent and Innovation : Great Powers and the Global Landscape of EntrepreneurshipIntervenant(s)Josh Lerner, Harvard Business SchoolEntrepreneurs are the chief source of innovation in modern economies, as illustrated by iconic figures like Bill Gates, Steve Jobs, Elon Musk, or Derrick Rossi, the co-founder of Moderna and several subsequent biotech companies. Success at this level hinges on idiosyncratic characteristics of the potential entrepreneur such as talent, inventiveness, and the propensity to take risks, on social origins, parental education, and family influence more generally, and on the environment: in particular the extent to which society favors risk-taking by forgiving early failure while rewarding talent and long-term success.The semantics of talent have spread at an accelerated rate in the world of work and in human resources management since the end of the 1990s. Today, we no longer talk about personnel management or "human resources" so much as talent management. The concept has been diluted as it has spread across the entire professional skills space, but its core meaning has never been stable.What exactly are we talking about when we speak of talent? The question is ceaselessly asked in all the scientific and professional publications devoted to talent management. It has been both a persistent enigma and a resource for plasticity in redefining the qualities required to recruit staff, to manage their careers and to find a balance in the competition for the best talent, since poaching by a competitor threatens each employer's investment in recruitment and career development. It is too often forgotten that the notion of talent, which was originally coined metaphorically in the "parable of the talents" in Matthew's gospel, can be read as a praise of risk-taking, which is rewarded, and a criticism of risk-aversion, which is discredited.This conference will gather economists and sociologists working on talent, risk, entrepreneurship, and innovation, with the goal of improving our understanding of the underpinnings of innovative entrepreneurship and of how entrepreneurship can be favored by appropriate institutions and policies.Isaiah Berlin once suggested a division of the world between hedgehogs and foxes, where foxes are individuals that engage in multiple projects simultaneously to pool risks, whereas hedgehogs put all their eggs into one basket and are ready to take maximum risk. One view of entrepreneurship is as hedgehogs who pursue a single innovation project, no matter how risky this project might be. This conference will analyze how social norms, the education system, competition, tax incentives and talent reward, and the financial system affect individuals' choice to be hedgehogs rather than foxes and selects the best talents into becoming innovative entrepreneurs. Colloque coorganisé par les Prs Philippe Aghion et Pierre-Michel Menger avec le soutien de LVMH et de la Fondation du Collège de France.

Philippe AghionCollège de FranceÉconomie des institutions, de l'innovation et de la croissanceAnnée 2022-2023Colloque - Entrepreneurship, Risk, Talent and Innovation : Great Powers and the Global Landscape of EntrepreneurshipIntervenant(s)Josh Lerner, Harvard Business SchoolEntrepreneurs are the chief source of innovation in modern economies, as illustrated by iconic figures like Bill Gates, Steve Jobs, Elon Musk, or Derrick Rossi, the co-founder of Moderna and several subsequent biotech companies. Success at this level hinges on idiosyncratic characteristics of the potential entrepreneur such as talent, inventiveness, and the propensity to take risks, on social origins, parental education, and family influence more generally, and on the environment: in particular the extent to which society favors risk-taking by forgiving early failure while rewarding talent and long-term success.The semantics of talent have spread at an accelerated rate in the world of work and in human resources management since the end of the 1990s. Today, we no longer talk about personnel management or "human resources" so much as talent management. The concept has been diluted as it has spread across the entire professional skills space, but its core meaning has never been stable.What exactly are we talking about when we speak of talent? The question is ceaselessly asked in all the scientific and professional publications devoted to talent management. It has been both a persistent enigma and a resource for plasticity in redefining the qualities required to recruit staff, to manage their careers and to find a balance in the competition for the best talent, since poaching by a competitor threatens each employer's investment in recruitment and career development. It is too often forgotten that the notion of talent, which was originally coined metaphorically in the "parable of the talents" in Matthew's gospel, can be read as a praise of risk-taking, which is rewarded, and a criticism of risk-aversion, which is discredited.This conference will gather economists and sociologists working on talent, risk, entrepreneurship, and innovation, with the goal of improving our understanding of the underpinnings of innovative entrepreneurship and of how entrepreneurship can be favored by appropriate institutions and policies.Isaiah Berlin once suggested a division of the world between hedgehogs and foxes, where foxes are individuals that engage in multiple projects simultaneously to pool risks, whereas hedgehogs put all their eggs into one basket and are ready to take maximum risk. One view of entrepreneurship is as hedgehogs who pursue a single innovation project, no matter how risky this project might be. This conference will analyze how social norms, the education system, competition, tax incentives and talent reward, and the financial system affect individuals' choice to be hedgehogs rather than foxes and selects the best talents into becoming innovative entrepreneurs. Colloque coorganisé par les Prs Philippe Aghion et Pierre-Michel Menger avec le soutien de LVMH et de la Fondation du Collège de France.

The Canada Pension Plan has prospered by investing in alternative markets such as private equity and debt, becoming a model for institutional investors around the world. Today, global pools of private capital stand at over $12 trillion, doubling in just six years.   In this episode, PGIM COO Taimur Hyat and economist Josh Lerner from Harvard Business School offer unique perspectives into the factors driving growth in private markets, current investment opportunities, and the outlook for private markets as interest rates rise.

Today local governments compete to host growing companies in the hope that the opportunities they create will revitalize their home cities. But how much do these urban areas benefit from local innovations? And what changes should we expect given recent increases in working from home? Nicholas Bloom joins the podcast to discuss these questions and more. Nick is the William Eberle Professor of Economics at Stanford University. This summer he co-authored, along with Tarek Hassan, Aakash Kalyani, Josh Lerner, and Ahmed Tahoun, the working paper “https://www.nber.org/papers/w28999 (The Diffusion of Disruptive Technologies).” In the spring, he and Jose Maria Berrero and Steven Davis released a working paper titled “https://www.nber.org/papers/w28731 (Why Working from Home Will Stick).”

Today local governments compete to host growing companies in the hope that the opportunities they create will revitalize their home cities. But how much do these urban areas benefit from local innovations? And what changes should we expect given recent increases in working from home? Nicholas Bloom joins the podcast to discuss these questions and more. Nick is the William Eberle Professor of Economics at Stanford University. This summer he co-authored, along with Tarek Hassan, Aakash Kalyani, Josh Lerner, and Ahmed Tahoun, the working paper “The Diffusion of Disruptive Technologies.” In the spring, he and Jose Maria Berrero and Steven Davis released a working paper titled “Why Working from Home Will Stick.”

Our guest for today's podcast is Josh Lerner, the Jacob H. Schiff Professor of Investment Banking at Harvard Business School.  This podcast is a replay of an AAAIM Virtual Webinar held in late 2020 and discusses the findings from an AAAIM commissioned study by Bella Private Markets, a consulting firm led by Professor Lerner.   The AAAIM Study is the first in the market to quantify AAPIs' representation, AUM, and performance. The results uncover a disturbingly low representation of AAPI ownership compared to the community's population in the U.S. and other relevant benchmarks. In addition, the returns delivered by AAPI-sponsored investment vehicles meet or exceed industry benchmarks across asset classes. These findings echo earlier studies, which found that Diverse-owned funds collectively accounted for only 1.3% of total asset management AUM, despite performance in line with industry benchmarks.   Brenda Chia, AAAIM Co-Chair and Founding Board Member, interviews Professor Lerner for this podcast.   Without further ado, here is our replay with Professor Lerner and Brenda Chia.

A straightforward question: as we consider the future of diversity and inclusion in private equity, can the industry meet the challenge? To seek answers, the Private Capital Project at the Harvard Business School and the Private Capital Research Institute recently hosted a webinar with a group of limited and general partners. What did they find? I spoke with one of the conference leaders, Dr. Josh Lerner, the Schiff Professor of Investment Banking at Harvard Business School. He co-directs the National Bureau of Economic Research’s Productivity, Innovation, and Entrepreneurship Program and serves as co- editor of their publication, Innovation Policy and the Economy. He founded and runs the Private Capital Research Institute, a nonprofit devoted to encouraging access to data and research, and has been a frequent leader of and participant in the World Economic Forum projects and events. He has been named one of the 100 most influential people in private equity over the past decade and one of the ten most influential academics in the institutional investing world.

Professor Josh Lerner is an academic giant. His 2013 article in HBR on Corporate Venturing is constantly being referenced in conversations as companies explore setting up their own Corporate Venture Capital group. He also has written a number of best selling books, which we reference on today’s episode and talk about the impact for each of you as corporate innovators. I think this week’s conversation will put into context a lot of the work you’re doing, from a real academic thought leader. Josh's HBS Site: https://www.hbs.edu/faculty/Pages/profile.aspx?facId=9961

Josh Lerner, M.T.C.M., L.Ac., graduated from the Northwest Institute of Acupuncture and Oriental Medicine in 2001. He also received a master's degree in Japanese Literature from the University of Wisconsin - Madison in 1994. He has done advanced study in Tui Na and sports medicine and has a particular interest in the treatment of traumatic injuries and musculoskeletal conditions. Kathy sat down with Josh to chat about Chinese Cosmology, and how it relates to acupuncture.

Investors are increasingly demanding their investments do good, for their money to make a positive impact on society and the environment, and to make a return. Private equity funds have not been immune to this movement. In this podcast, Diana Noble, former CEO, CDC Group Plc and Non-Executive Director, Court of Directors, Bank of England and Michele Giddens, Co-founder and Partner, Bridges Fund Management, evaluate the rise of impact investing with Josh Lerner, Head of the Entrepreneurial Management Unit and the Jacob H. Schiff Professor of Investment Banking, Harvard Business School. They discuss the origins of the impact movement, the trade-offs that can be involved, impact’s role in reducing inequality, the meaning of the ‘impact label’ and whether impact can answer the big questions facing capitalism and the world today. The panel was part of the 12th Annual Private Equity Symposium hosted at LBS in June 2019 by Private Equity at LBS with support from the Private Capital Project at Harvard Business School, with funding from the Division of Research and Faculty Development and the Joshua J. Harris Alternative Investments Program, The Wharton School and CBID Capital International. This podcast is introduced by Florin Vasvari, Professor of Accounting at LBS and co-author of the book ‘International Private Equity’, with Eli Talmor, Professor of Accounting and Founder of Private Equity at LBS.

Beyond the conflicts around scope of practice, the theories and practice of dry needling and intra-muscular therapies give us a deeper look into how acupuncture works on ahshi or trigger points from a bio-medicine physiological perspective.  Practitioners of this rebranded form of acupuncture have a modern biomedicine perspective on how trigger points, as well as how localized qi and blood stagnation, come about and can be resolved. It's a language that can useful. Our guest in the episode is a hand's on meat and potatoes acupuncturist who loves functional body therapies. He's gone deep into tuina and orthopedic acupuncture, and has studied the dry needling methods with his Chinese medicine eye.  Listen in for a well-schooled practitioner's perspective on physiology, trigger points, acupuncture and the fantastic career of Janet Travell. 

Beyond the conflicts around scope of practice, the theories and practice of dry needling and intra-muscular therapies give us a deeper look into how acupuncture works on ahshi or trigger points from a bio-medicine physiological perspective.  Practitioners of this rebranded form of acupuncture have a modern biomedicine perspective on how trigger points, as well as how localized qi and blood stagnation, come about and can be resolved. It's a language that can useful. Our guest in the episode is a hand's on meat and potatoes acupuncturist who loves functional body therapies. He's gone deep into tuina and orthopedic acupuncture, and has studied the dry needling methods with his Chinese medicine eye.  Listen in for a well-schooled practitioner's perspective on physiology, trigger points, acupuncture and the fantastic career of Janet Travell.    Head on over to the show notes page for more information about this episode and for links to the resources discussed in the interview. 

It’s an age old question across all types of investing: can you have it all? In other words, can investors get the twin benefits of doing well and doing good? For the various private equity participants, the question has become more urgent over the last several years, particularly around ESG, Environmental, Social and Governance issues. As requirements around doing good increase from politicians, LPs, employees, even GPs, the need for GPs and LPs to deliver it all continues to rise. Put simply, what are the broad, social consequences of private equity investments?

Conventional wisdom in private equity has often gone like this: Performance persists across funds for the same partnership.But the view over the last years is mixed. One 2014 study found that post-2000, there was “little evidence of persistence for buyout funds, except at the lower end of the performance distribution.” The question was addressed again recently at A Roundtable Sponsored by the Notre Dame Institute for Global Investing and the Private Capital Research Institute. Here a group of limited partners, academics and general partners met to share their thoughts on performance and persistence in private equity investments.Their conclusion: “the once robust persistence of performance across buyout funds has weakened, along the historical outperformance of private equity relative to the private markets.”But what does this finding mean in terms of various important inputs, factors like: approaches employed in selecting fund managers, factors influencing performance in the current environment, industry trends and performance benchmarks, comparisons between venture and buyout investing, alignment issues, and the importance of culture?I asked Dr. Josh Lerner, Chair of the Entrepreneurial Management Unit
and the Schiff Professor of Investment Banking at Harvard Business School. He also serves as Director of the Private Capital Research Institute, a nonprofit devoted to encouraging access to data and research about venture capital and private equity. More honors: Josh is Vice-chair of the World Economic Forum’s Global Agenda Council on the Future of Investing and was named one of the 100 most influential people in private equity over the past decade and one of the ten most influential academics in the institutional investing world.

Josh Lerner is Executive Director of The Participatory Budgeting Project, a nonprofit organization in New York City that empowers communities to decide how to spend public money.

The premise behind any business partnership seems obvious: Build a structure and set of rules around performance and profits that not only create agreed upon fairness, but more importantly, position the partnership for long-term success.    

Josh Lerner, a professor at Harvard Business School, outlines the benefits of sharing carry split information with investors, the ‘2 & 20 split’, what’s on LPs’ minds, and the continued divide between PE and VC when it comes to tech investments. The post Harvard’s Lerner: Is the End of 2&20 Near? appeared first on Privcap.

They say you are most molded in your high school years. While this may be true, it does not mean you cannot change, and my...

Josh Lerner is the author of Making Democracy Fun: How Game Design Can Empower Citizens and Transform Politics (MIT Press, 2014). Lerner earned his Ph.D. in Political Science from The New School for Social Research, and is now the Executive Director of The Participatory Budgeting Project, a nonprofit organization that empowers communities to decide how to spend public money. Lerner asks the question at the start of the book: Can games make democratic participation more fun? He does not mean game theory, he means actual games. Designed activities aimed to infuse the rules of a game to political decision making. He traces the use of gaming to advance public participation through Latin America, with particular attention on Rosario, Argentina. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh Lerner is the author of Making Democracy Fun: How Game Design Can Empower Citizens and Transform Politics (MIT Press, 2014). Lerner earned his Ph.D. in Political Science from The New School for Social Research, and is now the Executive Director of The Participatory Budgeting Project, a nonprofit organization that empowers communities to decide how to spend public money. Lerner asks the question at the start of the book: Can games make democratic participation more fun? He does not mean game theory, he means actual games. Designed activities aimed to infuse the rules of a game to political decision making. He traces the use of gaming to advance public participation through Latin America, with particular attention on Rosario, Argentina. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh Lerner is the author of Making Democracy Fun: How Game Design Can Empower Citizens and Transform Politics (MIT Press, 2014). Lerner earned his Ph.D. in Political Science from The New School for Social Research, and is now the Executive Director of The Participatory Budgeting Project, a nonprofit organization that empowers communities to decide how to spend public money. Lerner asks the question at the start of the book: Can games make democratic participation more fun? He does not mean game theory, he means actual games. Designed activities aimed to infuse the rules of a game to political decision making. He traces the use of gaming to advance public participation through Latin America, with particular attention on Rosario, Argentina. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh Lerner is the author of Making Democracy Fun: How Game Design Can Empower Citizens and Transform Politics (MIT Press, 2014). Lerner earned his Ph.D. in Political Science from The New School for Social Research, and is now the Executive Director of The Participatory Budgeting Project, a nonprofit organization that empowers communities to decide how to spend public money. Lerner asks the question at the start of the book: Can games make democratic participation more fun? He does not mean game theory, he means actual games. Designed activities aimed to infuse the rules of a game to political decision making. He traces the use of gaming to advance public participation through Latin America, with particular attention on Rosario, Argentina. Learn more about your ad choices. Visit megaphone.fm/adchoices

A talk show on KZSU-FM, Stanford, 90.1 FM, hosted by Center for Internet & Society Resident Fellow David S. Levine. The show includes guests and focuses on the intersection of technology and society. How is our world impacted by the great technological changes taking place? Each week, a different sphere is explored. This week, David interviews Prof. Josh Lerner of Harvard Business School, co-author of "Innovation and Its Discontents.". For more information, please go to http://hearsayculture.com.