Publications
Publications
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(5,232)
- Faculty Publications (1,078)
- March 2025
- Case
Silicon Valley Bank: Gone in 36 Hours
This case examines factors contributing to the collapse of Silicon Valley Bank (SVB) in March 2023, an event as unpredicted as it was quick. SVB funded nearly half of all U.S. venture-backed startups and at the end of 2022 held $173 billion in deposits, largely... View Details
Keywords: Accounting Standards; Bank Runs; Financial Accounting; Financial Reporting; Social Media; Banks and Banking; Financing and Loans; Investment Portfolio; Interest Rates; Debt Securities; Risk and Uncertainty; Financial Statements; Risk Management; Failure; Fair Value Accounting; Credit; Corporate Governance; Financial Services Industry; Banking Industry; United States
- March 2025
- Teaching Note
Seattle's Climate Pledge Arena: Ticket to a Greener Future
By: Rosabeth Moss Kanter and Jacob A. Small
Teaching Note for HBS Case No. 325-110. CEO Tim Leiweke reviewed the process by which his newly formed Oak View Group had managed a major rebuild of a landmark arena in Seattle which attracted a National Hockey League franchise and major entertainers concerned about... View Details
- March 2025 (Revised March 2025)
- Case
Seattle's Climate Pledge Arena: Ticket to a Greener Future
By: Rosabeth Moss Kanter and Jacob A. Small
Tim Leiweke reviewed how his development group and partners had completely rebuilt an aging Seattle landmark into the world’s greenest arena, carrying the visible name Climate Pledge Arena. It had attracted a new National Hockey League franchise, the Kraken, and... View Details
- March 2025
- Supplement
Nashton Partners and Its Search Fund Process (B)
By: Richard S. Ruback and Royce Yudkoff
Pre-abstract:
Instructors should consider the timing of making videos available to students, as they may reveal key case details. View Details
- March 2025 (Revised May 2025)
- Case
Primetime Partners: Investing in Healthspan, Wealthspan, and Workspan
By: Rembrand Koning, Nicole Tempest Keller and Susan Wilner Golden
In the fall of 2024, Abby Miller Levy (HBS ’01), co-founder and managing partner of Primetime Partners, was preparing to raise a second fund. Founded in 2020 with veteran investor Alan Patricof, Primetime was a horizontal fund focused on early-stage companies serving... View Details
- 2025
- Working Paper
Impact Investing and Worker Outcomes
By: Josh Lerner, Markus Lithell and Gordon M. Phillips
Impact investors claim to distinguish themselves from traditional venture capital and growth
equity investors by also pursuing environmental, social, and governance (ESG) objectives.
Whether they successfully do so in practice is unclear. We use confidential Census... View Details
- January 2025
- Case
Untapped Global: Financing Africa's Missing Middle
By: Raymond Kluender and Emanuele Colonnelli
In November 2024, Jim Chu, founder and CEO of Untapped Global, faced mounting internal tensions over the company’s strategic direction. Untapped had developed a data-driven revenue-based financing (RBF) model to address the “missing middle” problem—the $5.2 trillion... View Details
Keywords: Social Entrepreneurship; Venture Capital; Working Capital; Private Equity; Financial Strategy; Microfinance; International Finance; Currency Exchange Rate; Profit Sharing; Revenue; Developing Countries and Economies; Economic Growth; Emerging Markets; Mission and Purpose; Small Business; Entrepreneurial Finance; Banking Industry; Financial Services Industry; Information Technology Industry; Technology Industry; Africa; Nigeria; South Africa; Kenya; Uganda; California; San Francisco
- January 2025 (Revised March 2025)
- Case
Hunter Point Capital
By: Josh Lerner, John D. Dionne and Srimayi Mylavarapu
In the spring of 2023, Hunter Point Capital faced a pivotal decision that could define its trajectory as a new player in the growing GP stakes business. As the firm neared completion of three high-profile GP stakes investments, consuming nearly a third of its initial... View Details
- January 2025
- Case
Index and Active Investing: Vanguard and the New Frontier of Active ETFs
By: Marco Sammon, Luis M. Viceira and Jonathan Kanagasabai
This case explores Vanguard’s strategic decision-making process as it considers entering the growing market for actively managed exchange-traded funds (ETFs). Set in 2024, the case places students in the position of Rodney Comegys, Vanguard’s global head of the Equity... View Details
- January 2025
- Case
North Forty: Managing Liquidity Through Change
By: Luis M. Viceira and Brad Towne
This case explores the interaction between spending and investment decisions at a family office, specifically the family office of Jeff and Tricia Raikes, with special emphasis on the management of spending, portfolio investments, and asset liquidity in the presence of... View Details
- January 2025
- Article
Everyone Steps Back?: The Widespread Retraction of Crowd-Funding Support for Minority Creators When Migration Fear Is High
By: John (Jianqui) Bai, William R. Kerr, Chi Wan and Alptug Yorulmaz
We study funding gaps on Kickstarter across multiple ethnic groups from 2009 to 2021. Scaling the concept of racially salient events, we quantify the close co-movement of minority funding gaps in crowd-funding to inflamed political rhetoric surrounding migration. The... View Details
- 2025
- Working Paper
Too Much, Too Soon? Early Funding, Technological Unconventionality, and Innovation Capabilities
By: Harsh Ketkar and Maria Roche
The availability of financial resources significantly shapes firm innovation outcomes, especially for early-stage,
innovation-focused technology firms. However, prior research has provided conflicting findings about this
relationship: On the one hand, resource... View Details
- December 2024
- Case
Core Innovation Capital: Investing in Fintech for Good
In 2017, Arjan Schütte, founder of Core Innovation Capital, faced a decision on whether to invest in Hugo Insurance, an auto insurance startup. Core, an early-stage social impact VC firm, focused on “fintech for good,” by investing in financial services for low- to... View Details
- December 2024
- Supplement
Core Innovation Capital: Investing in Fintech for Good (B)
In 2017, Core Innovation Capital invested $725,000 in Hugo Insurance, a pay-as-you-drive auto insurance startup targeting the non-standard market. Core followed with $300,000 in 2019 during a Seed II round. By 2022, Hugo founder, David Bergendahl, sought $10 million in... View Details
- November 2024
- Case
Demond Martin and WellWithAll
By: Hise Gibson, Archie L. Jones and Ai-Ling Jamila Malone
This case study chronicles the transformative entrepreneurial path of Demond Martin, co-founder and CEO of WellWithAll, a health and wellness startup. Motivated by a pivotal life experience and deep concern for racial health inequities, Martin transitions from a... View Details
Keywords: Customers; Diversity; Ethnicity; Race; Health; Recruitment; Leadership Style; Management Style; Brands and Branding; Marketing Strategy; Product Launch; Product Positioning; Organizational Culture; Mission and Purpose; Relationships; Trust; Business Strategy; Competitive Strategy; Competitive Advantage; Investment; Business Startups; Transition; Entrepreneurship; Equality and Inequality; Consumer Products Industry; Retail Industry; Health Industry; United States; Chicago; Boston; Atlanta; North Carolina; District of Columbia
- November 2024
- Teaching Note
Mercado Bitcoin: M&A, IPO, or Series B?
By: Raymond Kluender, Emanuele Colonnelli and Sabrina Howell
Teaching Note for HBS Case No. 825-047. In April 2021, Brazilian cryptocurrency platform Mercado Bitcoin, had to decide how to scale: go public, M&A with a bank, or take a VC big check. In a highly volatile market, Roberto Dagnoni, chairman of the board, viewed the... View Details
Keywords: Cryptocurrency; Mergers and Acquisitions; Business Growth and Maturation; Business Startups; Decision Making; Going Public; Ownership Stake; Strategic Planning; Venture Capital; Problems and Challenges; Business Cycles; Digital Platforms; Emerging Markets; Market Timing; Expansion; Diversification; Valuation; Value Creation; Investment Funds; Initial Public Offering; Price; Price Bubble; Negotiation Offer; Information Technology Industry; Financial Services Industry; Brazil; Latin America
- 2024
- Working Paper
Hidden Risk
By: Daniel Barth, Phillip Monin, Emil Siriwardane and Adi Sunderam
Since 2013, large U.S. hedge fund advisers have been required to report risk exposures in their regulatory filings. Using these data, we first establish that managers’ perceptions of risk contain useful information that is not embedded in fund returns. Investor flows... View Details
- November 2024 (Revised December 2024)
- Case
Moonfare and the Democratization of Private Equity
By: Victoria Ivashina and Srimayi Mylavarapu
Founded in 2016, Moonfare headquartered in Europe, was a pioneer in the “democratization” of private equity investments. Historically, private equity was accessible only to institutional investors like pension funds, endowments, sovereign wealth funds, and large family... View Details
- November 2024 (Revised March 2025)
- Case
Tim Ferriss: What Might This Look like If It Were Easy?
By: Reza Satchu and Denise Koller
In April 2024, writer-podcaster Tim Ferriss—celebrated as the “Oprah of audio” for his billion-download show and known for NYT-bestsellers like The 4-Hour Workweek—found himself at a crossroads. Despite generating a multi-million-dollar annual revenue with just three... View Details
- November 2024
- Article
Perceptions About Monetary Policy
By: Michael D. Bauer, Carolin Pflueger and Adi Sunderam
We estimate perceptions about the Federal Reserve’s monetary policy rule from panel data on professional forecasts of interest rates and macroeconomic conditions. The perceived dependence of the federal funds rate on economic conditions varies substantially over time,... View Details