With $25m gift from ex-Tiger Cub Chris Shumway, Harvard creates MBA to link business and science

Former Tiger Cub Chris Shumway is helping Harvard University prepare a new breed of MBAs, equally at ease on Wall Street and in the laboratory.

With a $25 million gift, Shumway and his wife, Carrie Shumway, are supporting the joint life-sciences MS/MBA program at Harvard Business School, which took its first 11 students in August. Three-quarters of the class are women; all were life-sciences majors, and many have worked in the field.

Shumway said he couldn’t recall seeing a life-sciences case study during his time at the Business School in the early 1990s, after which he joined Julian Robertson’s Tiger Management. He became interested as he got involved with the startup Crestovo and saw it through a merger with Finch Therapeutics to develop microbiome-based drugs.

”We made significant investment in terms of capital and hiring that management team and growing that business,” Shumway said. ”It was easy for us to find amazing scientists, and there are terrific entrepreneurs. Finding the intersection of those two groups was very difficult.”

Some of the funds are for financial aid and creating case studies. This year’s focus is on the Cambridge biotech Moderna and what’s happening at the Food and Drug Administration regarding the novel coronavirus. About 15 to 20 others are in the works, on topics including pharmaceutical companies acquiring small biotech firms and cell manufacturing.

Shumway and Dean Nitin Nohria started talking about a way for Harvard to mint science-grounded business graduates about six years ago.

”Nitin is an entrepreneur himself,” said Shumway, 54, who shut his $8 billion hedge fund in 2011. ”He was open and already thinking about the connection points within Harvard that would allow this.”

The program was set up with Harvard’s Department of Stem Cell and Regenerative Biology. Its start during a global pandemic underscores the urgency of the gift’s objectives as the world ponders when safe vaccines and therapies will get to market and be in wide distribution.

The University of Virginia beat out Harvard for securing Shumway’s first $25 million gift in this area. Two years ago, Shumway donated to his undergraduate alma mater to help it start programs between the commerce school and the medical school.

”As I’ve gotten older, one of the things I’m thinking about is how do you have an impact,” he said.

”In the commercial space, you can invest in organizations that have tremendous potential to save lives. The whole view is how do you create social good and have a positive commerce ecosystem around it, so you can encourage all the people who need to, to take action.”

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Harvard Creates Biotechnology MBA With Gift From Ex-Tiger Cub

(Bloomberg) — Former Tiger Cub Chris Shumway is helping Harvard University prepare a new breed of MBAs, equally at ease on Wall Street and in the laboratory.

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With a $25 million gift, Shumway and wife Carrie are supporting the joint life sciences MS/MBA program at Harvard Business School that took its first 11 students in August. Three-quarters of the class is women; all were life sciences majors, and many have worked in the field.

Shumway said he couldn’t recall a life sciences case study during his time at the business school in the early 90s, after which he joined Julian Robertson’s Tiger Management. He became interested as he got involved with start up Crestovo and saw it through a merger with Finch Therapeutics to develop microbiome-based drugs.

“We made significant investment in terms of capital and hiring that management team and growing that business,” Shumway said in an interview. “It was easy for us to find amazing scientists, and there are terrific entrepreneurs. Finding the intersection of those two groups was very difficult.”

Some of the funds are for financial aid and creating case studies. This year’s focus is on Moderna Inc. and what’s happening at the Food and Drug Administration regarding Covid-19. About 15 to 20 others are in the works on topics including pharmaceutical companies acquiring small biotech firms, and cell manufacturing.

Shumway and Dean Nitin Nohria started talking about a way for Harvard Business School way to mint science-grounded graduates about six years ago.

‘Connection Points’

“Nitin is an entrepreneur himself,” said Shumway, 54, who shut his $8 billion hedge fund in 2011. “He was open and already thinking about the connection points within Harvard that would allow this.”

The program was set up with Harvard’s Department of Stem Cell and Regenerative Biology. Its start during a global pandemic underscores the urgency of the gift’s objectives, as the world ponders when safe vaccines and therapies will get to market and in wide distribution.

University of Virginia beat out Harvard for securing Shumway’s first $25 million gift in this area. Two years ago, Shumway gave it to his undergraduate alma mater to start programs between the commerce school and the medical school.

“As I’ve gotten older, one of the things I’m thinking about is how do you have an impact,” he said. “In the commercial space, you can invest in organizations that have tremendous potential to save lives. The whole view is how do you create social good and have a positive commerce ecosystem around it, so you can encourage all the people who need to, to take action.”

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ConocoPhillips’ Permian Play Creates More Sustainable E&P Model (NYSE:COP)

A sign of the times is another acquisition in the U.S.’s most prolific oil-producing Permian Basin. The recent announcement of the all-stock $9.7 billion deal of ConocoPhillips’ (NYSE:COP) acquisition of Concho Resources (NYSE:CXO) speaks to the conditions in the industry. This is followed by Chevron’s (CVX) completed purchase of Noble Energy (NBL) and Devon’s (DVN) merger with WPX Energy. With the acquisition, as one of the largest U.S. oil independents, their output will be second only to Occidental Petroleum’s (OXY), according to a Wall Street Journal article. Summing up the catalysts, chief executive Lance of ConocoPhillips said, “We both believe our industry needs solutions that address the lack of scale, poor returns and, increasingly, the challenges and opportunities of environmental, social and governance (ESG) matters.”

Demand indicators and sentiment

Reduced oil demand from the COVID-19 shock and low prices have weighed on the industry for many months. In an Oct. 14 Town Hall with Rob Kaplan, President of the Dallas Federal Reserve Bank, a key concern he expressed, besides the prevalence of the virus and its trajectory, was the shift in GDP by sectors. If we look at the headline numbers we’ll miss what’s underlying the two-tier, bifurcated economy. The part of the economy that’s seeing growth is non-face-to-face businesses, with the tech, digital and essential services-related sectors doing well while hospitality, restaurants and travel suffer. Thus, demand has shifted into differing sectors and we’re not sure whether these trends will stick or how they shift in the future, Kaplan noted.

A looming problem is still the underlying amount of unemployed cited at 7-7.5% by year-end. However, the U6 number of 12% more accurately reflects conditions on the ground, and in my mind, the self-employed and gig workers comprise a substantial number of less-than-employed persons. I’m not here to focus on the macro picture exactly, but there’s softening and uncertainty, which gets back to the energy transition underway.

If we continue to see an uptick in COVID-19 cases — the now closer to 70,000 new cases in the U.S. vs. the below 40,000 we had pre-Labor Day — the economy and mobility are going to cast another pall on digging ourselves out of the economic malaise. Sentiment will be less rosy and people will be less mobile and economically active. The Index below shows a slight downward decline as cases have risen again. The virus is still in charge.

The pandemic has accelerated interest in transitioning the energy mix. It’s both an environmental issue but also about revitalizing the energy sector and jobs. And while there’s still going to be U.S. oil and gas production over a long period of time, many executives believe the writing is on the wall with oil. In a Dallas Fed survey of U.S. E&P firm executives in late September, 74% of them believe that OPEC holds the most leverage over oil prices in the future, and two-thirds believe that U.S. oil production has peaked. Occidental Petroleum’s CEO Vicki Hollub recently stated the same at

Carlsbad teen creates free grocery shopping service for seniors, at-risk groups during pandemic

The COVID-19 pandemic made everyday life more challenging for everyone, but there were specific difficulties for seniors and other groups who are immunocompromised or disabled. Nolan Mejia knew that his own grandparents had family members close by who could do their grocery shopping for them, but what about people who didn’t have anyone?

“My grandparents live in Los Angeles, and they have nearby family members getting them the groceries that they need. When the coronavirus pandemic first began, however, I saw that many senior citizens did not have somebody nearby that they can contact to go to the grocery store for them,” he said. “So, I decided that there must be some organization to help these vulnerable senior citizens, and that inspired me to start this service.”

That service is Grocery Grab, run by Mejia and his classmates at Sage Creek High School in Carlsbad. Their free grocery shopping service is for seniors and other at-risk groups who’ve been advised to remain at home and away from others as much as possible in order to prevent becoming infected by the virus.

Mejia, 17, is the founder and president of Grocery Grab, which largely services the Carlsbad area and also has a Carmel Valley branch servicing Rancho Santa Fe, Carmel Valley, Del Mar, Solana Beach, and Encinitas. He lives in Carlsbad Village with his mother and sister, and has also been actively involved in his school’s volleyball and swim teams, founded his school’s Latinos in STEM club to increase Latino representation in those fields, and is in the National Honor Society. He took some time to talk about Grocery Grab, his commitment to helping his community, and finally learning how to surf.

Q: Tell us about Grocery Grab.

A: Grocery Grab was created in March when stores, schools and workplaces began to shut down due to the coronavirus pandemic. Since senior citizens are encouraged to stay inside during these times, Grocery Grab does the shopping for them. Our goal is to make sure senior citizens stay safe while still getting the groceries they need. The program is completely free, but sometimes senior citizens feel inclined to “tip.” An important aspect of Grocery Grab is that all of the monetary tips we collect are donated to the San Diego COVID-19 Community Response Fund. This is administered by the San Diego Foundation, and they are working to help vulnerable community members at this time. To this date, we have received almost $3,000 in donations and are working toward a goal of $5,000. Not to mention, we have delivered over 5,500 items (over $14,000 in groceries) to various seniors in the community.

Q: Where did this kind of desire to help others come from for you? What inspires this kind of community work?

A: I think of my desire to help others comes from being raised in a family and community where supporting others is strongly emphasized. My mom always brings up the abundance theory. She likes to live by the ideology that there

ThirdLove Creates TL Effect Program to Support Women Entrepreneurs of Color

After protests broke out in late May in response to the police killings of George Floyd, Breonna Taylor and Tony McDade, a number of companies felt it was time to lend their voices in support of the Black Lives Matter movement founded in 2014.

But like so many of them, direct-to-consumer brand ThirdLove wrestled with how best to respond.

“Back in June, when everything kind of started to heat up around Black Lives Matter, we were thinking as a company what we could do internally and what could we do externally to support the movement,” said Heidi Zak, co-founder and CEO of the intimates brand. “I thought what was really important was to do something aligned with our brand.”

Zak wanted whatever they chose to do to have a long-lasting impact and be something that the company’s internal team could be directly involved in. “We’re about supporting women literally and figuratively,” she noted.

That process led to the creation of TL Effects, a program that supports female entrepreneurs of color by providing them with a $20,000 grant, dedicated office space at ThirdLove’s headquarters, amplification via the DTC brand’s social platforms, and access to business and financial advice from the company’s founders on subjects such as merchandising and producing content.

This October, ThirdLove announced that Arah Sims, founder and CEO of DTC nail glam brand Kyütee Beauty, was the inaugural recipient of the program, chosen from a pool of 650 applicants.

Arah Sims is the first recipient of ThirdLove’s program TL Effects, which provides supports to women entrepreneurs of color.

“To be totally frank, when we started the application process, I would have been happy to [have received] 100 applications,” Zak said.

Sims will be the first of many such recipients, as the company plans to select a founder per quarter to support, she said.

“For people who are saying there aren’t women of color to invest in, this proves something different,” Zak said of the number of women who showed interest.

As for the process itself, to rustle up applicants ThirdLove reached out to universities, startup incubators, partners, publications, chat groups and mentorship programs. A team of 18 judges then narrowed the field to 20 applicants.

The three judges included Zak, senior social manager Courtney Lake and vp of strategy and operations Veronique Powell, who each each selected their top three candidates, from whom Sims was ultimately chosen. “We were all aligned that Arah was the one,” Zak said.

Sims was chosen because she already had a full website up and running, was a solo founder who created a brand and product by herself, was someone who could really benefit from mentorship, and possessed a dynamic and passionate personality, Zak explained.

“I got really excited about the opportunity to be mentored by a female founder who’s walked the path,” Sims said of the program. “Times are changing. A lot of people and companies are coming out of the woodwork to say they want to help.”

Sims is already discussing with

18-year-old makeup mogul creates inclusive beauty brand: ‘Makeup is a movement’

Get to know the innovative beauty brands redefining what it means to be part of the beauty industry and the fearless leaders behind them on In The Know’s video series “Beauty Rebels.”

Zach Dishinger is on a mission to challenge traditional and enduring gender norms. A “typical theater kid,” the teenager always found solace in beauty products — and so, at just 15 years old, he decided to turn his passion for makeup into a full-fledged business.

“When I started, there was no boys beauty. It was all female-based,” Dishinger told In The Know. “Girls are beauty and I wanted to change that. I wanted to make sure that everyone feels like they have a place in the beauty world.”

Three years later, Dishinger’s company — Formula Z Cosmetics — is a disruptor in the beauty industry. And with his company, Dishinger is doing what he always dreamed of: empowering others to unapologetically embrace their true selves.

“I want everyone to feel like they have a place in the beauty industry and that’s really where the actual core of Formula Z came about,” Dishinger explained.

Shop: Formula Z Cosmetics Forever Lips Liquid Lipstick, $18

Formula Z CosmeticsFormula Z Cosmetics

Credit: Formula Z Cosmetics

Shop: Formula Z Cosmetics Luxe Diamond Gloss, $18

Credit: Formula Z Cosmetics

Right now, Formula Z is largely focused on long-lasting lip colors and balms, all of which are vegan, cruelty-free, paraben-free and gluten-free. In the future, Dishinger hopes that Formula Z will be available both online and in stores so that customers of all walks of life have easier access to the products.

“My hope for the future is that it can be accessible for everyone — online, in stores — so that everyone has an opportunity to get their hands on Formula Z,” the 18-year-old entrepreneur said. “We believe that makeup is a movement and that it can be worn unapologetically for everyone regardless of race, age, sexual orientation or gender.”

Our team is dedicated to finding and telling you more about the products and deals we love. If you love them too and decide to purchase through the links below, we may receive a commission. Pricing and availability are subject to change.

Shop the first design in a collection that highlights Black artists and brings their vision for equality to life:

If you enjoyed this story, check out this 13-year-old makeup prodigy who is a must-follow on Instagram.

More from In The Know:

LGBTQIA+ woman transforms her company after learning its parental leave policy

15 gorgeous Pride makeup looks you can recreate right now

This queer-owned brand makes natural skincare and makeup accessible

The skincare community loves this ‘all in one’ product

The post Meet the 18-year-old makeup mogul behind Formula Z Cosmetics appeared first on In The Know.

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AK Valley gift dashing group creates food pantry, takes on other community projects

37 minutes ago

A new outdoor food pantry in New Kensington where people take what they need and leave what they can is proving to be so successful that those who built it are figuring out how to make it bigger.

The pantry outside the Community Clothes Closet was packed full of goods Wednesday afternoon, with a box of donated food that simply would not fit.

“I was completely overwhelmed and so happy,” said Tara Salem of New Kensington, whose group, AK Valley Dash Blast, built the pantry. “I was afraid I was going to get here and it was going to be empty, honestly.

“I couldn’t believe that so many people were donating.”

Salem, 39, said she started AK Valley Dash Blast as a Facebook group in May. She based it on a Pennsylvania group, its members mostly in Philadelphia.

The idea is to leave a gift on someone’s door to brighten their day.

“I thought, maybe, it would last a month and everyone would get sick of it, but it just kept growing,” she said.

The private group has about 1,300 members from across the Alle-Kiski Valley.

While the group’s members are still “dashing” gifts, they’ve taken on other projects, too. The first was a memorial for Mikel Fetterman at UPMC Children’s Hospital of Pittsburgh. Fetterman, 2, died at the hospital April 24; his mother, Teresa Fetterman, and Keith Dale Lilly Jr. are charged in his abuse and death.

The food pantry was the next project.

“The woman who runs the Community Clothes Closet was wanting to do it for years but didn’t have the funds or anyone to build it,” Salem said.

Her group raised the money, and Salem’s husband, Jim, built it. It was installed Sunday outside the entrance to the Community Clothes Closet, in the former Mary Queen of Apostles school building at St. Joseph Church, off Kenneth Avenue.

The pantry started with items donated by the dash group’s members, such as non-perishable food items, water, toiletries and feminine hygiene products.

“I’m just hoping anyone in need will be able to get what they can to hold them over,” Salem said.

Christina Discello started the Community Clothes Closet eight years ago and is its director. It offers clothing to anyone in need at minimal prices or for free.

“I am thrilled. I am so thankful,” she said. “People that I don’t know and have never spoken to, they purchased the supplies, they built it, they installed it, they did everything. We’re just so blessed to have people out there who would do this for a total stranger.”

Discello said the Closet has a small indoor food pantry, but she’s had to reduce its hours of operation because of the covid-19 pandemic. She wanted an outdoor pantry but didn’t know who would build one. She asked her daughter, Sara Schwartz, who is a member of the AK

French Jewelry Designer Marie Lichtenberg Creates From Here Heart And Soul

Did you ever see a jewelry designer’s work and connect to it on every level—emotionally, artistically, feeling that you shared a common link? As a jewelry journalist and author, I can appreciate a diverse range of modern designers and antique dealers on different levels. And then there are jewels and their makers whom I connect with on a level that somehow speaks to my soul. When a friend and designer Susan Cohen of Circa 1700 introduced me to French designer Marie Lichtenberg via DM on Instagram , this happened almost instantaneously. There is something about the joy in what she is creating, the nod to vintage and antique jewels without being redundant and the uncompromising focus of her collection that hit an emotional cord.

Marie Lichtenberg’s English and Fresh sayings on three dimensional clasps inspired by antique jewelry

Only when I began to interview her did I find we had some similarities in our backgrounds (albeit on different sides of the Atlantic) which could account for some the pull I felt to this collection. Marie was born, raised and has always lived in Paris and I, in New York or the New York area. Marie and I both started our careers as fashion stylists for print magazines. She had a mom in the antiques/vintage jewelry business and I had a mentor whom I worked for in the business and mom and dad in fashion and textiles respectively. We were both brought up around color, texture and lively talk about style vs. fashion. We both wore plastic heart pendants and star stickers as earrings as young girls. I loved when she told me this. It made me feel like I had that French je nais se quois at seven years-old. We both turned to designing jewelry after we realized that fashion had become somewhat of a machine rather than a creative endeavor and we both started with an idea rather than a business plan.

Luckily I was also a writer who never gave that part of myself up and continued to write when the jewelry business started to change in the late 1990s. But enough about my career. Marie Lichtenberg has designed a collection of artfully detailed, joyful and lyrical clasps that all began with one necklace her mother owned. She then turned it into a collection of her ‘favorite things’—sayings, color combinations and motifs—that all seem to fit together as a collection that relies on imagination and a gut instinct to which international women have and will continue to relate.

Marie Lichtenberg’s Amour clasps worn on necklaces around her wrist.

Twistonline.com who carries her collection in the states sold out quicker than most women who found her on Instagram could order it. Don’t fret, they will be receiving a