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| FROM Tuck Admissions Blog: Extra-Ordinary Companies |
![]() By Erica Toews T'18 Led by students, Tuck industry treks are amazing ways to travel, explore industries, and engage with company leaders. I arrived in Hanover feeling invigorated after the entrepreneurship and venture capital (VC) trek to New York. Eight Tuck students visited several companies over the course of two days. Each meeting felt intimate, and we usually went around in a circle and shared our backgrounds. I was humbled that company founders, whose time is extremely valuable, were interested in learning about us. While most of my classmates are going through on-campus recruiting, the trek opened me up to new and exciting career opportunities. The first company we visited was Primary Ventures, a VC firm that provides seed funding to early stage startups. Brad, one of the two partners, offered us coffee and bagels and spoke with us about the tech ecosystem in New York compared to the Silicon Valley. Primary Ventures shares an office with one of the companies they invest in, Square Foot, which facilitates renting office space. We met the CEO, who advised us not to start a company for the sake of being an entrepreneur, but only if we are passionate about a brilliant idea. It reminded me of these lines from Charles Bukowski: “unless it comes out of / your soul like a rocket, / unless being still would / drive you to madness or / suicide or murder, / don’t do it. / unless the sun inside is / burning your gut, / don’t do it.” We rode the Subway uptown to Lowenstein, a law firm that helps startups in all industries and at all stages. Jonathan, who began his career at a biotech startup and now serves as Counsel to startups, spoke about how every company faces unique challenges. This means there is no one-size-fits-all approach to questions around how to incorporate, how to handle founders equity, and when to go public. We traveled back downtown to meet Matt and Steve at Bain Capital Ventures. Associates focused on data services and fintech, their time is spent sourcing deals, performing due diligence, and managing deals. When I asked how they decide what to invest in, they said their two strategies are “big ideas” and “big ears”. The first is a top-down approach driven by a thesis or idea, and the second is a bottom-up approach that involves going to conferences and keeping up with literature on new founders. Squarespace, a company that makes it easy for people to build beautiful websites, has a different vibe than the firms. Their exquisite office space includes a rooftop with an epic view of the Manhattan skyline. We met Margaret, a GSB grad who described her role as a combination of business development, strategy, product, and marketing. She contrasted Facebook’s culture of “Move fast and break things” with Squarespace’s belief that good work takes time. Margaret encouraged us all to change our mindset from the question of What can I do to what do I want to do? The next morning at Namely, an HR platform for mid-sized companies, the VP of Marketing shared what it was like to be hired as the twenty-sixth employee and watch the company grow to over 350 people. He spoke about the balance of maintaining a tight-knit office culture and growing a business. In true tech fashion, the office was full of couches, bean bag chairs, and plants, and had a well-stocked kitchen. We took the Subway uptown to SeatGeek, which was founded by Dartmouth ’07 grads Russ and Jack. SeatGeek is a marketplace for people to buy sports and concert tickets. The company shifted its focus early on from forecasting ticket sales to e-commerce. Russ said it’s important to constantly think about how your company can expand. He explained that most people weren’t working at their desks that day because they were in the middle of a hackathon. At Gotham Ventures, we met Lucas, a computer scientist turned venture capitalist. He graduated from Tuck in ’09 and worked on security at Adobe before joining Gotham. His technical background shone through: at one point, he drew a picture on a whiteboard to teach us about zero-knowledge proof in cryptocurrency. He strongly advised us to start a company or at least work at a startup before going into VC. Our final visit was to 1stdibs, an online marketplace for luxury goods. As soon as we walked in, they offered us beer on tap. Their office is very chic, and I truly believe that all 275 employees have a love of beautiful things. Caitlin, a T’13 and the manager of Marketplace Trust, said 1stdibs pivoted from a “fancy Craigslist” to a “fancy eBay,” meaning they shifted from listings to e-commerce. After a whirlwind trip, I’m fired up on the job search. The trek served as a reminder of how strong the Tuck fabric is: every Tuck alum we met gave us their contact information and encouraged us to reach out. YOU MIGHT ALSO LIKE |
| FROM Tuck Admissions Blog: Straight Outta Q&A: Greater Dartmouth, Specializations |
![]() While the questions we hear in our on-campus Q&A session (part of every prospective student visit) can run the gamut, some stick out as being really insightful and others we hear over and over again. Wouldn’t it be great if we could share those answers with all prospective students? We think so! Here are some recent themes that have come up. Q: Can you take classes in other schools at Dartmouth / what is the relationship like between Tuck and all of the other Dartmouth programs? A: Yes, Tuck students are able to take courses within other Dartmouth programs. In the past, students have taken courses at Thayer (the engineering school), undergraduate language courses, and courses that are part of the MHCDS (Master of Health Care Delivery Science) curriculum. There are other ways to collaborate as well. For example, the members of Tuck Women in Business (WIB) mentor undergraduate women and the DEN (Dartmouth Entrepreneurial Network) brings together participants from across the Dartmouth community. Tuck’s research centers and initiatives also collaborate with centers and institutes across Dartmouth on events, research projects, and student programming. It’s important to remember, that as a Tuck graduate, you are also a Dartmouth graduate and will have the depth of the wider alumni network as well. At the heart of “OneDartmouth” lies a commitment to encourage dialogue and collaboration between the many diverse and valuable students of Dartmouth in an effort to foster a stronger sense of oneness and community. And more! Q: What can you specialize in as a student? A: Tuck is a general management program and doesn’t require students to limit the kind of courses they take through specializations or majors. An MBA is a leadership degree, preparing people to lead companies, departments, brands, and people. It’s important that business leaders have a (knowledgeable) 10,000 feet view of a business—this is the purpose of Tuck’s extended core curriculum during the first-year. After your first-year at Tuck, you’ll have a strong foundation in all the essential aspects of business, both hard skills and soft skills. During your second year, you can tailor the curriculum to the topics you’re most interested in, or the skills you think you most need to enhance. To do this, there are a wide variety of elective courses and opportunities for independent study. Tuck 360 is awesome, but make sure you join us live too. You can register for a self-initiated visit/interview here (just make sure you’re coming within the deadline that corresponds to your particular application round). |
| Tuesday, November 15: Live Chat with Tuck Admission Director |
| FROM Tuck Admissions Blog: Five Questions with Jeph Shaw T’15, New Energy Capital |
![]() By Shawn Curley T’17 ![]() Jeph Shaw T’15 is vice president and principal at New Energy Capital (NEC) in Hanover, NH. Prior to NEC, Jeph worked on the finance team at TerraForm Power. He is a former fellow of the Revers Center for Energy. Jeph was kind enough to answer five of my questions on his role at NEC and some of the trends he's seeing in the energy industry. Over 30 percent (~4,200MW) of proposed new generation within New England is wind-powered. More and more solar arrays are popping up as well. What’s driving this trend? A couple of factors. Some of it is driven by the demand side. That breaks down into wholesale power prices and renewable specific incentives. In the wholesale power markets generally, the biggest change in New England over the last 15 years has been a shift from oil and coal to natural gas. We were getting about 40 percent of our power from oil and coal; now that’s down to about 5 percent and natural gas has displaced just about all of it (renewables are just starting to make a material impact). All this natural gas demand has constrained the delivery network, so gas prices are now about twice the national average. This drives up power prices to some of the highest in the country, which helps renewables. The key specific incentives have been federal tax credits and state level renewable portfolio standards. Combined with the relatively high power prices, these incentives have allowed quite a bit of wind to be built (about 800 MW, which is equivalent to one nuclear power plant). On the supply side, installed costs of wind keep coming down (although not as fast as solar), and the capital markets are increasingly comfortable with the asset class, which has perhaps an equally big impact on levelized cost. We’re also just now seeing the offshore market open up as well. Those sites tend to be the windiest in the area, so that could be a big component of supply going forward. One thing to keep in mind—wind has a long development cycle and a lot will ultimately fall off due to transmission and permitting constraints. For solar, the dramatic cost reductions on the supply side combined with some progressive incentives (virtual net metering and solar-specific portfolio standards) have caused a big boost, particularly in Massachusetts. About a gigawatt is installed there and it is expected to double within a year or so. There has been a lot of buzz around new technologies in the power world, from microgrids to battery storage. How soon should we expect to see some of these technologies deployed on a large commercial scale? A couple of key considerations here. The thing about power generation is that it’s a relatively simple business. A power plant provides really one major service—putting electrons into the grid. The economics of valuing that production can be complicated, but policy and utility rate structures can do a pretty good job of simplifying that complexity, so you end up with basically Price * Quantity = Revenue. And you can contract that revenue over long periods of time. With storage, there are a handful of different benefits that stack up very differently depending on the application (rate shifting, grid services, etc.). The utility rate structures haven’t kept pace with that, so we don’t yet have competitive, efficient markets to value storage, and very few long-term contracts. The drivers to date have been progressive utility commissions that have allowed utilities to buy storage as a bundled resource and pass on the cost to rate payers. That works for early adoption but won’t take it to large scale. The supply side on storage is also interesting. Some think lithium ion batteries will become the dominant technology and that the economies of scale will self-reinforce, similar to what happened with solar PV. Others think we still need a “non-linear” innovation in low-cost material to get to the levels that will allow mass-scale integration of intermittent renewables. Given the high capital costs at play, it’s hard for anyone other than the government to fund that R&D, so government support will have a lot to do with how it plays out. What’s been keeping you busy at New Energy Capital? NEC has a pretty straightforward approach to the market. We focus on proven technologies with long-term revenue contracts. We invest at the project and “platform” level—i.e. we work with managers who develop, construct and finance projects. We try to differentiate ourselves by being good, flexible partners. Personally I’ve been working mostly on new investments in solar, but have also been looking at some other technologies like fuel cells and waste-to-energy. What’s it like to live in Hanover after graduating from Tuck? It’s great to be in Hanover. It’s been fun catching up with classmates who come back for recruiting and generally trying to stay plugged in to things at Tuck. I’m excited to see what happens with the new Irving Institute for Energy and Society. I’ve also been impressed at the level of business activity up here—there are a surprising number of startups and alternative investment firms in town. The lifestyle component and ability to get outside have been really nice too. Any plans to get back into tripod hockey? I did play one mini-league game when I first got up here. You might see me out there in the winter league. Definitely Thursday night race league skiing at Whaleback. The Revers Center for Energy inspires and shapes tomorrow's leaders in energy while engaging today's energy community. It aspires to establish Tuck as the preeminent business school for learning practical leadership in the energy industry. |
| FROM Tuck Admissions Blog: Tuck Engages the Veteran Community |
![]() By David Bates T'18 In my first Veterans Day out of the military, I had the opportunity to participate in two different events that are vital elements of the Tuck education: Peer Learning and Hockey. As part of Tuck’s observation of Veterans Day, I had the privilege to take part in an event called “Microbrews and the Military.” Sponsored by the Armed Forces Alumni Association (AFAA) and the Tuck Center for Leadership, Dean Slaughter Matthew moderated a panel of eight current Tuck veterans, including myself. During the two-hour event, we fielded questions from members of the Tuck and Dartmouth communities on our experience as veterans. For students at Tuck, weeknight time is precious so it was heartening to see so many of my classmates and members of the class of 2017 take time out of their schedules to sit, listen, and engage. The questions were diverse and pointed at times but they all embodied respect and a desire to learn from someone else’s perspective; qualities that I have found pervasive at Tuck. A fun, evening event the following day also engaged the veteran community, but in a lighter way. The Armed Forces Alumni Association fielded a team in what is fast becoming a tradition over the past several years: a sled hockey game against the Ice Vets, a team of veterans from the nearby White River Junction Veterans Affairs Hospital. We, the Tuck Vets, did our best to strategize and scheme but to no avail. Our dreams were no match for their actual puck handling and shooting ability. It was a well-intentioned rout. We did have a single bright spot in the night: we scored our first ever goal in an Ice Vets vs. Tuck Vets bout. Our only other contribution to the night was excellent play-by-play announcing from another member of the AFAA with a radio voice honed by years spent as a naval aviator. The Ice Vets soundly defeated us 10-1. Just as with the Microbrews event the previous night, the broader Tuck community turned out in great numbers to support both teams. Our brush with success even left us emboldened to dream big for next year: maybe two goals. |
| FROM Tuck Admissions Blog: Day in the Life of a Tuckie: Charley T’18 |
![]() By Charley Adams T'18 Charley is a T’18 originally from southwest Virginia but moved to Hanover from Denver, CO. Charley is still settling in at Tuck, but he is already involved in a variety of activities—from being a member of the beer aficionados club the John Barleycorn Society to helping organize the Business and Society Conference to sourcing his own First Year Project with a local ski company. Charley worked at Deloitte Consulting prior to coming to Tuck. He is actively recruiting for positions in the technology industry and outdoor retail industry. He looks forward to sharing his Tuck adventures all of you. It’s a tad difficult to write a post on a “typical” day in the life of a Tuckie, since no two days ever include the same arrangement of activities. Given that caveat, here is a view into my life on a recent Monday. 6:30 AM ![]() Wake up for the long day in front of me in Sachem Village. Sachem is a townhome community owned by Dartmouth where a lot of Tuck students live with their partners and families. My family is relatively small (fiancée and dog), but we have enjoyed living in the pet-friendly Sachem located about 2 miles from campus. 8:00 AM ![]() Arrive at Tuck and grab a coffee and breakfast at Joe’s and Byrne. Joe’s is a coffee shop on campus that offers everything from Chai Tea Lattes to Smoothies, and it was born at out of a student-led business idea a few years ago. Byrne is our beloved dining hall that serves breakfast, lunch, and dinner five days a week. 8:30 AM ![]() Head to my first class of the day. As a first year, you will generally only have two classes a day. For the fall and winter, these are all core classes that are required. They range from traditional courses such as Financial Accounting for Managers to less-formal courses such Leading Organizations and Decision Science. I’m heading to Decision Science, taught by Professor Santiago Gallino, where I learn about building financial models and interpreting the results. 10:20 AM ![]() After a 1.5 hr Decision Science class and a short break, I head to Financial Accounting for Managers. This course is taught by Professor Dirk Black and teaches the fundamentals of financial statement analysis and accounting. NOON ![]() Head to office hours with Microsoft to learn about their Business Marketing positions with a Tuck alum, who currently holds this position. Several companies that recruit on campus will host information sessions and office hours. During these you get a chance to learn about internship and full-time opportunities. Most of the sessions are led by Tuck alum, so the setting is often rather informal, which I appreciate because you can ask questions and get candid answers. I love even more that they often include free lunch! 1:00 PM ![]() Meet with my study group to prepare our work for the following day. I meet with my randomly assigned study group three to four days a week to go over homework and discuss cases for classes the next day. My group has 6 members, including myself. Within our study group we have three international students, four males, two females, three distinct ethnicities, six different previous occupations and industries, and we all have differing future goals. However, we work really well together and they have become some of my best friends at Tuck. Unfortunately, I will be assigned to a new study group beginning in the winter. 3:00 PM I normally have a break now, but today I’m meeting with a T’17 (second year student) to discuss feedback on an emotional intelligence survey we conducted earlier in the year. It is a great way to learn about myself and the way others perceive me. 4:30 PM Head home for dinner and to do some work. Since the days are so jammed packed, I often have to squeeze in work wherever we can. 6:30 PM ![]() Head back to Tuck to practice a presentation with two teammates for the Microsoft Case Competition. Case competitions are led by companies across industries and give students a chance to solve real world business challenges by applying their knowledge from classes and prior experience to find a solution. We present at 7:00 pm to a panel of Microsoft employees that are also Tuck Alumni. 7:30 PM ![]() Head home and hang out with my fiancée and dog before doing a bit more work. 10:30 PM ![]() Before hitting the sack, I head to Campion Ice Rink to play hockey in the Tuck Men’s Tripod Hockey League. As someone who had extremely minimal ice skating experience, this has been one of my favorite experiences at Tuck so far. My team is made up of first years and second years, international students, married students, single students, and Tuck partners. (Main photo above: Copyright Dartmouth College) |
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