Chicago Booth Review Podcast

Ayelet Fishbach, a motivation expert and author, teams up with Katy Milkman, a behavioral change authority from Wharton, to dive into achieving goals for 2025. They unpack practical strategies for staying motivated and overcoming obstacles, discussing a four-step framework for managing overwhelming goals. The duo also navigates the balance between personal ambitions and parenting duties, tackling 'mommy guilt.' With insights on social norms and self-reflection, they offer a roadmap for transforming aspirations into reality.

Eric Budish, a Professor at Chicago Booth known for his market design expertise, delves into the vulnerabilities of Bitcoin's decentralized structure. He argues that while blockchain offers innovative data integrity, its open nature invites sabotage. The discussion highlights the high cost of securing Bitcoin at scale, limiting its potential to replace traditional currencies. Budish also weighs his critical stance amidst a crypto-celebrating landscape, exploring the economic flaws and security challenges that underpin the cryptocurrency ecosystem.

James Janiger, Managing Partner at Growth Innovation Strategy Group and former journalist, shares his insights on crafting a winning startup pitch. He emphasizes the vital role of storytelling in engaging investors and effectively presenting complex information. Janiger highlights how to center the narrative on consumer problems and balance emotional appeals with strategic data. He offers tips on tailoring pitches to the audience while avoiding common pitfalls, ensuring that entrepreneurs come across as relatable and trustworthy.

In recent decades, stock markets have increasingly been speeding up, with large numbers of high-frequency traders executing trades at speeds up to billionths of a second. Does that reward the most powerful computers at the expense of retail investors? Chicago Booth’s Eric Budish, who argues that the incentives for high-speed trading stem from the flaws in the way financial markets are designed. At the same time, it’s become cumbersome and complicated for institutional investors to execute trades as they would like to. With both challenges in mind, Budish outlines two simple ideas from his research that could transform stock markets for the better.

Impact investing aims to serve two purposes: creating both profit and positive social outcomes. But is that possible? Is there always a trade-off between profits and impact? In the second of our two conversations with Chicago Booth’s Priya Parrish—author of the new book The Little Book of Impact Investing: Aligning Profit and Purpose to Change the World—we discuss whether it’s possible to make healthy returns on your investments while pursuing your social goals.

Lubos Pastor, a Chicago Booth professor focused on the nexus of economics and voting, discusses the surprising patterns behind Trump’s election victory. He argues that voters understood the economy was growing, which actually propelled them to seek change. The conversation reveals a century-old trend: strong economies tend to favor Republican candidates while weak ones favor Democrats. Pastor also highlights how risk attitudes shape voter behavior and contrasts stock market performance under different presidencies, emphasizing its historical complexities.

Impact investing accounts for more than $1 trillion under management, and is expected to continue growing at a double-digit rate annually for the next decade. It’s attracted a backlash, with activists successfully pushing companies to cut back on their commitment to diversity and inclusion. We hear from Chicago Booth’s Priya Parrish, author of the new book The Little Book of Impact Investing: Aligning Profit and Purpose to Change the World, about what the critics get wrong.

Melissa Harris, an Adjunct Assistant Professor of Entrepreneurship at Chicago Booth and former journalist, emphasizes the transformative power of effective writing skills in professional settings. She discusses the rampant use of jargon and clichés that hinder clarity. The conversation dives into the need for structured communication amid distractions, outlines the importance of feedback in writing, and highlights empathy as crucial in corporate messaging, especially during layoffs. Harris advocates for a more proactive approach to writing training in organizations.

Mike Gibbs, a faculty member at Chicago Booth known for his quantitative research on remote work, discusses the evolving landscape of hybrid work. He reveals new data showing a dip in innovation during hybrid setups, despite some quality improvements. Gibbs also highlights the importance of spontaneous interactions for creativity and how remote work can hinder career growth. He addresses corporate challenges, like Amazon's push for in-office work, and the impact on employee connections and mentorship in today's predominantly virtual environment.

John Birge, a Professor at Chicago Booth with expertise in market efficiencies and insider information, dives into the controversial topic of insider trading. He discusses the recent legal victory for political betting markets and its implications. The conversation highlights the complex dynamics between political and financial markets, exploring how early bets can distort perceptions. Birge also questions the conventional view that all insider trading is harmful, suggesting that some forms may actually increase market efficiency and raise ethical considerations.