Opinion: Why Wall Street’s discrimination against women has no future – Lotte Bailyn

MIT Sloan Professor Emerita Lotte Bailyn

MIT Sloan Professor Emerita Lotte Bailyn

From Market Watch

We are well-accustomed by now to the ways in which women are mistreated and discriminated against on Wall Street.

Over the past decade, nearly every major bank — from Goldman Sachs GS to Morgan Stanley MS, Citigroup C— has settled a sex discrimination suit. News reports have exposed in lurid detail just how badly women are underpaid; the degree to which they face hostility from their male peers; and how they are subjected to a demeaning environment and made to feel inferior.

The latest gender bias suit, filed by Megan Messina, a senior fixed-income banker, is against Bank of America. The suit accuses BofA of vastly underpaying her and other women. In addition, Messina said her boss made her feel unwelcome in his “’bro’s club’,” and subjected her to questions like, “Have your eyes always been that blue?” The suit also accuses the bank of misconduct, and describes alleged instances of front-running trades and withholding information from clients.

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Scaling customer development: crowdsourcing the research – Elaine Chen

MIT Sloan Senior Lecturer Elaine Chen

MIT Sloan Senior Lecturer Elaine Chen

From The Huffington Post

In the seminal book “The Four Steps to the Epiphany”, Steve Blank introduces the concept of “customer development” – get out of the building and interview customers. While this is not a new concept – product people with user-centered design training have always done this – this is a huge development in startup-land, where technology used to run amuck.

Challenges with sample size

There is one small problem with customer development. It relies on qualitative research techniques like detailed interviews and observation, which are time consuming and costly.  Additionally, these techniques involve deep interactions with a few individuals, and you always run the risk of talking to the wrong people about the wrong problems.

How do you know whether you can trust your results? One way is to increase sample size – but given each interaction can take a couple of hours all-in, trying to get to 100 conversations quickly becomes daunting.

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Watch Live: Andrew McAfee and Erik Brynjolfsson discuss their new book, “Machine, Platform, Crowd: Harnessing our Digital Future” June 26

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Erik Brynjolfsson and Andrew McAfee

MIT Sloan’s Erik Brynjolfsson and Andrew McAfee

 

We hope you’ll tune in to the next installment of the MIT Sloan Expert Series.

Harnessing our Digital Future: Machine, Platform Crowd

Join us on June 26, 2-2:30 pm ET for a live conversation with Andrew McAfee ​and ​Erik Brynjolfsson, co-authors of the new book Machine, Platform, Crowd: Harnessing our Digital Future, which is being hailed as “a must-read road map” for success in the digital economy. The book is a sequel to their bestseller The Second Machine Age.

Beth Comstock, Vice Chair of GE, appears​ on the program to discuss how the company harnesses the wisdom of the crowd for product ​innovations and design.

Sandy Pentland, MIT Professor of Media Arts and Science, also joins us to talk about managerial best practices for navigating this new world of rapidly advancing technology.

You will be able to view the live show by bookmarking this site and tuning in June 26 at 2 pm ET.

Submit your questions on Twitter using #MITSloanExperts before and during the show. Your question could be answered live on the air.

Using statistics can can improve clinical trials and outcomes – Dimitris Bertsimas

MIT Sloan Professor Dimitris Bertsimas

MIT Sloan Professor Dimitris Bertsimas

From Times Higher Education 

Sometimes science can be personal. When my father, who was living in Greece at the time, was diagnosed with stage IV gastric cancer in 2007, I set out to find the best possible care for him. As is the case with many patients with advanced disease, drug therapy was his best course. So, after unsuccessful surgery in Greece, he came to the US for treatment.

I contacted the most prestigious cancer hospitals in the country and found that they all used different drugs in different treatment regimens to treat advanced gastric cancer. As both a son and a scientist, I was surprised to discover that there was no standard treatment – something I would later realise was true of many different kinds of late-stage cancers.

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The Businesses That Platforms Are Actually Disrupting – David S. Evans and Richard Schmalensee

MIT Sloan Professor Richard Schmalensee

MIT Sloan Professor Richard Schmalensee

From Harvard Business Review

Platforms are all the rage these days. Powered by online technologies, they are sweeping across the economic landscape, striking down companies large and small. Uber’s global assault on the taxi industry is well known. Many platforms, some household names and others laboring in obscurity, are doing the same in other sectors.

Surveying these changes, you might conclude that if your business isn’t a platform, you had better worry that one is coming your way. Everyone from automakers to plumbers should count their days as traditional businesses. And maybe you should jump on the platform bandwagon too. If it worked for Airbnb, why not you?

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