In her new book, The Biggest Bluff, psychologist and journalist Maria Konnikova writes about her immersion into the world of high-stakes poker. Starting as a novice who knew nothing about the game, she eventually rose to become a world-class professional poker player. Yet, poker was never just about the cards or money for Konnikova, and neither is her book. Instead, she picked up poker as a means to explore human decision-making in an environment where every player has very little control. Wharton operations, information and decisions professor Katherine Milkman recently spoke with Konnikova about what poker has taught her about letting go of the control we think we have over our lives, and using the control we do have to make the world a better place.

Image: https://knowledge.wharton.upenn.edu

After nearly four months of a coronavirus-compelled shutdown, many workers across the U.S. are being asked to return to offices and shop floors. The kind of workplace they’ll be returning to, however, is not so clear. After all, COVID-19 cases are active and even on the upswing in areas across the country, and, with much still unknown about how the virus spreads and behaves, many wonder whether the workplace they will find will ever look and function like the one they had before the middle of March.

The global pandemic caused by COVID-19 has thrown economies and entire financial systems into disarray. Q1 2020 gross domestic product (GDP) data for the US and Europe released at the end of April confirmed the hard truth none of us want to admit: a global recession, and maybe even a global depression, is now upon us. As we look toward the new normal, we are reminded by history that deals struck in times of crises bring historically outsized returns. These lessons of history should inspire optimism, positivity and creativity for venture capital firms and entrepreneurs as we chart a path to recovery.

The Trump administration released the list of companies that had received loans aimed at small businesses on Monday—and eyebrows raised when the names of prominent venture capital firms were cited among the recipients.

Harvard and MIT filed a lawsuit on Wednesday that seeks to prevent the Trump administration from stripping foreign students of visas if their universities move exclusively to online classes amid the coronavirus pandemic.

The lawsuit comes after U.S. Immigration and Customs Enforcement (ICE) announced on Monday that international students whose courses move entirely online would be required to depart the country, rescinding a previous plan to grant exemptions to student visa holders.

Pitching investors was difficult before — and now? “Fasten your seatbelts; it’s going to be a bumpy ride,” warns a report from the National Venture Capital Association (NVCA). It predicts that for the next several quarters, VC firms will struggle to raise their own funds, which means less cash to deploy to entrepreneurs. 

But Anna Whiteman is more optimistic. She’s VP at Coefficient Capital, a firm that focuses on digitally powered consumer brands (Hydrant, NomNom, Just Spices). Even if the road is bumpy, she says, it’s heading into exciting territory. But to start, entrepreneurs will need to think differently about growth.

Image: Image credit: Courtesy of Anna Whiteman

The mountain villages in central Portugal have depended on the wool industry since the 19th century.

But with manufacturing moving overseas and Portugal's economy beginning to stall in 2000, many of the already struggling factories were pushed to bankruptcy.

Now, one wool factory in Portugal is helping revive the local economy while keeping a centuries-old tradition alive.

Image: https://www.businessinsider.com

The COVID-19 pandemic has turned out to be the most significant disruptive event witnessed by this generation. From mainstreaming remote working, cutting global travel to a comprehensive digital shift, the outbreak has changed the way businesses are executed. This transformational effect is not momentary; it is significant and is here to stay.

H1 2020 has presented the venture industry with unpredictable challenges and economic disruptions at a scale not seen in the past decade. This note details how the industry’s response to these challenges has affected trends our analyst team had presented last year in our 2020 outlooks.

Image: https://pitchbook.com

CU Healthcare Innovation Fund secured $50 million in committed capital to invest in early stage healthcare companies.

The CU Healthcare Innovation Fund, which is affiliated with the University of Colorado Anschutz Medical Campus, also partners with UCHealth, Children's Hospital Colorado and CU Medicine. The fund, which secured its maximum target at $50 million, has already invested in eight companies and aims to "aggressively" pursue new opportunities, according to a health system news release.

In the coming weeks, as quarantine restrictions loosen, companies around the world will begin bringing people back to the workplace. While some may be eager to finally get out of their house, a good number of people are still anxious. And if you’re among them, you aren’t alone. Seventy percent of over 1,000 workers surveyed by PwC said there are several factors preventing them from wanting to return to work, with 51% citing fear of getting sick as their major worry. For others, fear of using public transportation and having no reliable solutions for childcare or homeschooling are also concerns.

Just weeks before fall classes are scheduled to begin, school districts across the country are racing to implement new measures meant to protect teachers, students and parents from the coronavirus.

But as they prepare for socially distanced lunch hours, constant hand washing and possibly even staggered attendance to minimize the number of students in the building at one time, education officials are watching with concern as schools in other nations become epicenters of new flare-ups.

The General Services Administration is requesting proposals from small businesses under its $50 billion STARS III governmentwide IT contract.

STARS III is open to small, disadvantaged prime contractors participating in the Small Business Administration’s 8(a) Businesses Development program. 8(a) businesses are those “owned and controlled at least 51% by socially and economically disadvantaged individuals.”

The 10-year contract will build on the preceding STARS II by focusing more on emerging technologies and performance outside of the continental United States (OCONUS), GSA said in an announcement.

One of the simplest questions I get from aspiring entrepreneurs, and ironically one of the hardest, is “How do I start?” I want to tell them to just start anywhere, but I realize that most have no idea where anywhere is. They just aren’t prepared for the life they want, and are really asking me how to learn to be an entrepreneur. It takes more than passion and a course on business basics.

With rising case loads, physical isolation from loved ones, and, for many, a loss of routine and purpose, Americans have been enduring a mental-health crisis alongside the medical one for months. 

A May study found more than a third of adults have signs of clinical anxiety or depression. 

That's understandable, Julie Pike, a clinical psychologist in Chapel Hill, North Carolina, who specializes in anxiety disorders, told Business Insider. "Anxiety is mother nature's way of trying to protect us by pushing us to resolve uncertainty and figure out a solution," she said. 

The year is already halfway done, and the novel coronavirus pandemic has had a major effect on employment in nearly every industry. However, the future of work is still looking pretty bright for medical and tech jobs, based on data and projections from the US Labor Department.

As Americans look forward to their next potential job after the pandemic and its attendant lockdowns, Business Insider decided to look at high-paying jobs that have bright futures ahead of them.  

The Fourth of July celebrates American independence from Great Britain during the Revolutionary War.  

During that time, the US was divided into 13 distinct colonies, which later grew and expanded into the 50 states we have today. 

But the US isn't only made up of 50 states. It may also be a country comprised of several tribes or factions. 

That's according to award-winning author Colin Woodard, who writes in his book "American Nations" that there are 11 distinct cultures that have historically divided North America (Canada is included in his overall analysis).

Image: The 11 nations of North America Colin Woodward and Tufts/Brian Stauffer

“...I want money to do things that have never been done before,” proclaimed Georges Doriot, almost 75 years ago. His was an era where venture capital (VC) had not yet been defined as an asset class, the world was recovering from the war and backing unprofitable companies seemed like an insane idea. Yet the relatively unknown creator of VC and one of the founding fathers of INSEAD took his risks and laid down the tenets of early-stage investing as we know it today by setting up the “American Research and Development Corporation (ARD)” in 1946, technically the first VC firm. How does the world today match up to the principles of the first venture capitalist?

Image: https://knowledge.insead.edu/

As we slowly emerge from lockdown, there is no ‘business as usual’ for the creative sector. In time we’ll go back to in-person client meetings and drinks after work, but for the short and medium term, businesses must re-focus and adapt to the new normal.

Flexible business models are essential to survive this crisis and thrive when it passes. Leaders must keep their company’s eyes on the essential business principles that have always fuelled them, and concentrate on building new systems, work practices and employee protection for the future.

Image: https://www.prolificnorth.co.uk

Despite the devastating economic effects of the Covid-19 pandemic, digital health companies continued to close funding rounds in the first half of 2020. After startups started off the year strong, experts expected investments to flatten off due to the pandemic. But so far, digital health companies are on pace for a record 2020, bringing in a total of $5.4 billion in the first half of the year, according to a report by Rock Health.

Image: https://medcitynews.com