Yale School of Management

“Best recipe for banana bread.” “How to fix running toilet.” “Is Harry Styles engaged?”For decades, a well-established business model allowed internet users to answer big life questions like these. Search engines directed readers to content on other websites—and those visits helped support content through advertisements, subscriptions, and product sales.AI-assisted search is already threatening the once-symbiotic relationship between search engines and content producers. On Google, for example, many queries now result…

Over the past decade, thousands of companies have taken public positions on climate change. Airlines, banks, tech giants, and consumer brands have pledged to reach “net zero,” promising to bring their greenhouse gas emissions down to nothing—or close to it—by some future date.But few companies can actually eliminate all of their emissions. Some activities—flying planes, making cement, running global supply chains—are difficult or impossible to fully decarbonize with today's technology.…

This commentary was originally published in Fortune. The views expressed are the authors’ own.The FDA occupies a unique position at the intersection of science, medicine, public health, and innovation. Patients depend on the agency to evaluate therapies rigorously and fairly; innovators depend on predictable regulatory pathways; and investors depend on confidence that scientific evidence will guide decision-making.That’s why it’s so disappointing and disheartening to see that only about half of…

Howie and Harlan are joined by Shivan Mehta, associate chief innovation officer at the University of Pennsylvania Health System, to discuss how healthcare organizations can use behavioral science to remove barriers that keep patients from getting recommended care. Harlan warns that ill-defined rules governing scientific collaboration with China could chill medical research; Howie revisits the discovery of Legionnaires’ disease 50 years ago as New York confronts a new outbreak. Show…

The M10 industrial park looks much like the warehouses and fulfillment centers lining highways across America. A sprawling complex studded with loading bays, it offers local businesses space to conduct manufacturing, logistics, and technological operations.But unlike most industrial parks, M10—which opened in 2024 in Lviv, Ukraine—was built as an economic lifeline for a country in crisis. For Ukraine, a major exporter of agricultural products long known as “the breadbasket of…

A painting by Joan Mitchell recently set a record for the highest sale price for a single work by a woman artist in Asia. Can you put that news in the context of the market for women’s art more generally?Joan Mitchell’s $17.6 million sale is an important moment, but it doesn’t change the overall structure of the market. The gap at the very top remains enormous: the highest prices for…

This commentary was originally published in Fortune. The views expressed are the author’s own.The recent high-profile IPO of SpaceX, which famously utilizes dual-class shares to give Elon Musk nearly 85% control, has reignited debate over dual-class shares themselves, and whether they hurt or help shareholders.Some of the most revered and successful business builders have dual-class share structures at their companies, from Michael Dell at Dell to Warren Buffett at Berkshire…

Howie and Harlan are joined by Kate Heilpern, president of Yale New Haven Hospital, to discuss the hospital’s 200-year history, the financial pressures facing health systems, and how Yale New Haven is balancing innovation with its mission to serve the local community. Harlan examines the growing burden of U.S. healthcare costs; Howie highlights encouraging trends in infant mortality, life expectancy, overdose deaths, and cancer survival. Show notes: Healthcare Costs “National…

Transcript Harlan Krumholz: Welcome to Health & Veritas. I’m Harlan Krumholz. I’m here with Howard Forman. We’ve got a special episode today. It actually reprises something that we did before because we talked a lot with Selwyn Rogers about his book and now it’s coming out. But I’m going to hand it over to Howie who’s going to tee this up for us.Howard Forman: Yeah, we’re really excited about this.…

This commentary was originally published in Time. The views expressed are the author’s own.The movement to strengthen democracy in America is not struggling because its enemies are too strong. It is hobbling because its friends are too many.I have spent decades inside the machinery of social action movements. I have convened rival cancer organizations under a single coalition, mobilized over a thousand corporations to withdraw from Russia after the invasion…

Transcript Harlan Krumholz: Welcome to Health & Veritas. I’m Harlan Krumholz.Howard Forman: And I’m Howie Forman. We’re physicians and professors at Yale University, and we’re trying to get closer to the truth about health and healthcare. Our guest today is Professor Bhramar Mukherjee, but first, we like to check in on current or hot topics in health and healthcare. What do you have today, Harlan?Harlan Krumholz: Yeah, a new study…

This commentary was originally published in Time. The views expressed are the author’s own.The golden chariot of fate has often carried President Donald Trump to safer shores when financial, business, political, or legal failures trapped him in a corner. But he has hit a wall with his war against Iran, stymied by his inability to secure the “unconditional Iranian surrender” he promised at the outset of the campaign.Was the war…

Howie and Harlan are joined by Ingrid Katz, director of the Yale Institute for Global Health, to discuss why HIV continues to spread despite the existence of cheap and effective treatment, what AIDS activism can teach us about tackling chronic diseases like hypertension, and what outbreaks like Ebola reveal about the consequences of fragile health systems. Harlan reports on a breach of UK Biobank data and what it means for…

In this episode, Heidi Brooks talks with Robin Dembroff who invites us to notice the confining, prescriptive categories we get boxed into and the opportunity to maybe name or nudge our way to a more enlivened self. Robin challenges us to see gender fundamentally as a verb rather than a noun–an active, ongoing process of “gendering” rather than an immutable, biological trait. By looking at the “windshield of consciousness” that…

Transcript Harlan Krumholz: Welcome to Health & Veritas. I’m Harlan Krumholz.Howard Forman: And I’m Howie Forman. We’re physicians and professors at Yale University. We’re trying to get closer to the truth about health and healthcare. Ordinarily, we have a guest, but at least once a month we like to do a deeper dive on health and healthcare. There’s a lot going on in the world right now, Harlan. So what…

Characters in fairy tales rely on crystal balls to see into the future. In 2026, the world has prediction markets, in which traders bet on the likelihood of real-world events such as election outcomes or the winner of the Eurovision song contest—often with surprising accuracy.The founders of these markets, which have grown by orders of magnitude in just the past two years, attribute their accuracy to the wisdom of crowds,…

Setting prices differently for different customers has been a practice for a long time. Are AI tools making personalized pricing more common or more effective?Yes. Firms have often tried to charge different customers different prices, but AI makes this practice easier, cheaper, and more precise. In the past, price discrimination often relied on fairly broad categories: business versus leisure travelers, coupon users versus non-coupon users, students versus non-students. Today, firms…

Professor William Goetzmann has a longstanding interest in long-term financial returns. “Financial history helps you estimate and plan,” he says. “Five years doesn’t help you with the trend. If you’ve got 150 years or more, that’s a good foundation for understanding where you may end up.”Last year, Goetzmann began preparing a volume of articles for the 50th anniversary of his colleague Roger Ibbotson’s book Stocks, Bonds, Bills, and Inflation (SBBI),…

Howie is joined by guest host Megan Ranney, dean of the the Yale School of Public Health, for a live episode recorded at the Yale Innovation Summit, featuring conversations with five innovators at the intersection of healthcare, public health, and entrepreneurship. Jaya Dadwal, a recent graduate of the School of Public Health and founder of forEVA Health, focused on raising healthcare standards for the female body Monique Rainford, a Yale…

Howie and Harlan are joined by Nicholas Christakis, director of Yale’s Human Nature Lab, to discuss his research on social networks, human connection, and the forces that help societies cooperate and endure. Harlan discusses promising phase 3 results for retatrutide, Eli Lilly’s experimental “triple G” obesity drug; Howie provides an update on the fast-growing Ebola outbreak in the Democratic Republic of Congo. Show notes: Obesity Drugs “Lilly’s triple agonist, retatrutide,…

This commentary was originally published in Forbes. The views expressed are the author’s own.The new Fed chair, Kevin Warsh, has made it clear that he would like to make significant changes to the Fed’s monetary policy communication. He has argued that excessive communication isn’t helpful to the public and may constrain monetary policy decisions. He has been particularly critical of the Fed’s projections of the policy interest rate (the “dot…

This commentary was originally published in Fortune. The views expressed are the author’s own.In Greek theater, a deus ex machina arrives when a protagonist is hopelessly trapped — and a golden chariot descends from the heavens to rescue them from a conflict they cannot escape on their own. That is precisely what the Supreme Court has delivered to Donald Trump on trade. With his IEEPA tariff authority struck down as…

Transcript Harlan Krumholz: Welcome to Health & Veritas. I’m Harlan Krumholz.Howard Forman: And I’m Howie Forman. We’re physicians and professors at Yale University, and we’re trying to get close to the truth about health and healthcare. Ordinarily, we have a guest. Once a month we go into the studio, we catch up on the incredible volume of news around us. This week we are taping a little bit early because…

Austin Ligon co-founded CarMax in 1991 as an executive at Circuit City and served as president and CEO of the spun-off company until 2006. Today he is an angel investor and advisor to retail, service, and educational startups.Q: Where did the idea for CarMax come from?We were looking for areas that no big-box retailer had put effort into. Automobiles were obvious, but new cars are heavily controlled by franchise laws…

Americans are frustrated by their increasingly polarized government. Their trust in government is at an all-time low, with just 4% saying that the political system is working extremely or very well. And yet political scientists have demonstrated that voters routinely elect politicians whose views are more ideologically extreme than their own. The seemingly incompatible match between moderate public opinion and politicians’ extremism can be accounted for by rational individual behaviors…

This commentary was originally published in Fortune. The views expressed are the authors’ own.In April 2025, an AI agent named “Sam” working in customer support for the developer tools company Cursor told users that their licenses worked on only one device. Subscriptions were canceled, complaints flooded Hacker News, and the company scrambled to clarify that no such policy existed. Sam had invented it. The technology took on a life of…

Howie and Harlan are joined by Lee Schwamm, the Yale School of Medicine’s associate dean for digital strategy & transformation and chief digital health officer of the Yale New Haven Health System, to discuss how the system is working to rapidly evaluate and deploy AI tools without compromising patient safety and oversight. Harlan highlights vaccine studies reportedly held back from publication and argues for greater scientific transparency; Howie reports on…

This commentary is adapted from a post in Todd Cort’s Substack newsletter The Real Price of Risk. The views expressed are the author’s own. Imagine that a company had a pension fund that promised $16.5 billion in future payouts but the value of that fund today sits at only $12.4 billion. Moreover, that pension fund has been drawing down the balance for over 25 years to cover the annual shortfall.…

This commentary was originally published in Fortune. The views expressed are the author’s own.Two inconsistent phenomena seemingly can be true at the same time: AI is seen as disrupting jobs, and, yet, on the surface, it appears as if less is happening than meets the eye. Where you stand on AI depends on whom you talk to. Schools now feverishly compete to prepare graduates with simplistic educational remedies driven by…

We live in a data-driven age, and much of that data is gathered through our online behavior. Most consumers are aware that accepting cookies on a website or allowing an app to track their location means giving firms more insights into their habits in exchange for some benefit—for example, a helpful recommendation, a personalized discount, or better functionality. For those who share their data, they face a trade-off: better recommendations…

Transcript Harlan Krumholz: Welcome to Health & Veritas. I’m Harlan Krumholz.Howard Forman: And I’m Howie Forman. We’re physicians and professors at Yale University. We’re trying to get closer to the truth about health and healthcare. Ordinarily, we have a guest. Once a month, we go into the studio, and once a year, we get to host our graduating podcast assistant. Today it’s Tobias Liu. So, welcome to the podcast.Tobias Liu:…

This commentary was originally published in Fortune. The views expressed are the author’s own.Apple stock traded slightly down after-hours following the announcement that CEO Tim Cook will be stepping down, to be replaced by his hand-picked protégé, John Ternus. There is no question that Cook is one of the most legendary and accomplished CEOs of our time, but this short-sighted market reaction is entirely misguided. Here are three reasons why…

When everyday investors have to make personal finance decisions, rules of thumb can be easy and comforting. For instance, to decide what percentage of your portfolio should be devoted to stocks, simply subtract your age from 120. In other words, a 40-year-old should invest 80% of their retirement savings in stocks.But rules of thumb don’t take investors’ personal circumstances into account, says James Choi, a professor of finance at Yale…

In this episode, Heidi Brooks and Zoe Chance invite you to step out of the transactional pursuit of influence and into the relational, visceral reality of self-influence through coaching. Through their conversation, Heidi and Zoe take you on a journey to reframe coaching not as a corrective tool for fixing what is broken, but as an enlivening stance for everyday leadership and human connection. You’ll get a sneak peak into…

Howie and Harlan are joined by Stephen Latham, a Yale School of Medicine senior research scholar and the director of the Yale Interdisciplinary Center for Bioethics. Stephen reflects on his journey to a career at the intersection of law and medicine, and explains why the legal definition of death is becoming less useful in an era of rapidly advancing medical technologies. Harlan unpacks recent analysis of smoking rates in the…

This commentary was originally published in Fortune. The views expressed are the author’s own.In a relentless, unprecedented branding exercise, the sheer volume of entities now bearing the name of President Donald Trump strains credulity. We now live in a world of Trump RX and Trump accounts, of Trump coins and Trump fighter jets. We have seen the John F. Kennedy Center for the Performing Arts slapped with his name, the…

This commentary was adapted from episode 217 of the Health & Veritas podcast. The views expressed are the author’s own. Subscribe for weekly doses of expert insight on health and the healthcare industry.We hear a lot about what’s going wrong with health in this country—and in the world. But step back 200 years, and the story is one of the most extraordinary triumphs in human history. Life expectancy in 1800…

Transcript Harlan Krumholz: Welcome to Health & Veritas. I’m Harlan Krumholtz.Howard Forman: And I’m Howie Forman. We’re physicians and professors at Yale University, and we’re trying to get closer to the truth about health and healthcare. Our guest today is Dr. Deborah Proctor. But first, we’re always checking in on hot topics in health and healthcare. What do you have today, Harlan?Harlan Krumholz: Checking in on hot topics. Well, I’ve…

In 2020, many colleges suspended their requirements for standardized test scores as the COVID-19 pandemic forced testing centers to close. That same year, the University of California Board of Regents announced it would phase out its SAT requirement for prospective students in a bid to increase equity and diversity. At the time, Yale SOM’s Faidra Monachou was getting her doctorate in Stanford’s Management Science and Engineering department, and she and…

With U.S. Deputy Attorney General Todd Blanche appointed as acting Attorney General, just days after boasting about his purges of dedicated, nonpartisan, patriotic career law enforcement officials, his boss’s apparent orders are to increase the prosecution of President Trump’s campaign of political retribution. Although the “No Kings” rallies last weekend attracted an estimated 8 million to 9 million protesters, additional voices are still needed to join the growing chorus. These…