Sridhar Narayanan, a professor of marketing at Stanford Graduate School of Business, studies how small businesses operate and why they’re so important, especially in the developing world. 

“Modernizing small businesses will have a profound impact on economies worldwide in many ways,” he says. 

In this episode of If/Then, Narayanan explains why so many retailers still rely on cash, how modernization can boost revenue, and what these patterns reveal about credit access, trust in institutions, and global economic development.

Have you modernized a small business or did you choose to stick with what was already working? Tell us your story at [email protected].

This episode was recorded on November 5, 2024.

Related Content:

• Sridhar Narayanan faculty profile
• Upgrades Can Help Mom-and-Pop Stores Compete with Big Retail
• From Instinct to Insight: Crafting an Intentional Sales Strategy
• With “Retargeted” Advertising, Sooner Is Better Than Later

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Only a third of the global population is financially literate. Why? Because most of us don’t learn the basics of personal finance in school — or elsewhere. 

Treating financial literacy as an afterthought can have serious consequences, from personal calamities to economic crises, according to Annamaria Lusardi, a professor of finance and the director of the Initiative for Financial Decision-Making at Stanford Graduate School of Business. 

On this episode of If/Then, Lusardi makes the case for treating financial education like preventative care: essential, cost-effective, and an enormous opportunity to improve people’s lives, boost workplace performance, and strengthen economic resilience.  

“We should learn about money as soon as possible,” Lusardi says. “As soon as the tooth fairy comes.”

Where do you go for financial advice? Tell us more at [email protected].

This episode was recorded on November 5, 2024.

Related Content:

• Annamaria Lusardi faculty profile
• On a Mission to Teach the World the Basics of Personal Finance

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Susan Athey, the Economics of Technology Professor at Stanford Graduate School of Business and founding director of the Golub Capital Social Impact Lab, studies the impact of technological innovations on workers, businesses, and society. 

Will the world’s economies successfully adapt to a future defined by artificial intelligence? On this episode, Athey shares what the stories of 22,000 laid-off workers in Sweden can tell us about who recovers from economic turmoil, how small design changes and product features can have outsize societal impact, and how AI could transform the way we work, from hiring to healthcare. 

What’s the best way to build a future that effectively integrates AI and supports workers? Tell us more at [email protected].

This episode was recorded on December 16, 2024. 

Related Content:

• Susan Athey faculty profile
• A Low-Cost, Scalable Way to Get More Women Into Tech
• A.I. Can Help “Personalize” Policies to Reach the Right People
• A/B Testing Gets an Upgrade for the Digital Age
• East Brother Light Station

Chapters

• (00:00:00) - Modernizing a 150 Year Old Lighthouse
• (00:03:05) - Adapting to Advancing Technology
• (00:04:20) - Impact of Mass Layoffs
• (00:06:16) - Low-Cost Scalable Solutions
• (00:13:37) - AI’s Role in the Future of Work
• (00:19:45) - Managing Transitions in the Job Market

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Brian Lowery, the Walter Kenneth Kilpatrick Professor of Organizational Behavior at Stanford Graduate School of Business and the author of Selfless: The Social Creation of You, argues that identity is about much more than external characteristics, family history, or the collection of experiences that compose the chronology of our lives. In fact, Lowery argues, our identities are constantly being formed, shifted, and even co-created — by the people around us. 

In this episode, Lowery breaks down how leaders, colleagues, and even casual acquaintances influence the people we are continually becoming — and why recognizing this can change our lives and how we experience the people we know. Understanding this social conception of the self helps us effectively navigate challenges at home and in the workplace, strengthen key relationships, and even bridge political divides.

“All these constraints that you feel, maybe those are imaginary,” Lowery says. “The world opens to you, I think, if you believe this, but that is also what's terrifying about it. What's exciting is what's terrifying.”

Has someone in your life changed how you see yourself? Tell us more at [email protected].

This conversation was recorded on November 13, 2024.

Related Content:

• Brian Lowery faculty profile
• A Provocative Theory of Identity Finds There is No “You” in Self
• Let’s Make a Deal: Negotiation Tips from the Experts
• Quick Thinks: How Others Define Us
• Janet Varney

Chapters:

• (00:00:00) - Improv is a Team Sport
• (00:04:20) - Rethinking the Self
• (00:05:16) - Leadership and Influence
• (00:07:30) - The Leadership Experiment
• (00:11:55) - Trust in the Workplace
• (00:14:24) - Polarization and Social Identity
• (00:18:33) - The Influence of Proximity
• (00:20:55) - Changing Identities
• (00:24:38) - Conclusion

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What’s one of the most powerful forces behind technological breakthroughs, business strategy, and job creation? The tax code.

Rebecca Lester, an associate professor of accounting and one of three inaugural Botha-Chan Faculty Scholars at Stanford Graduate School of Business, studies how subtle tax incentives can trigger monumental business decisions, determining how companies invest, grow, and innovate.

These incentives don’t just shape corporate strategy — they ripple across industries, economies, and markets. From advancing clean energy to catalyzing global competition, you might think of tax policy as a blueprint for the future. The big question: how to do it right.  

Have tax incentives led you to make a personal or professional decision? Tell us more at [email protected].

Related Content:

• Rebecca Lester faculty profile
• American Innovation Got Slammed by the “Temporary” End of a Key Tax Incentive
• Why Some Countries Want Companies to Think Inside the “Innovation Box”
• Tax Cuts in the UK Gave an Unexpected Boost to African Economies

This conversation was recorded on November 5, 2024.

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The pen may be mightier than the sword — but the dollar beats them both. Economic leverage has long shaped the world order, and today global powers use financial networks, trade policies, and sanctions as tools of persuasion — or coercion. 

In this episode, Matteo Maggiori, the Moghadam Family Professor of Finance at Stanford Graduate School of Business, outlines why he believes the U.S. dollar remains the world’s financial backbone, why China wants to create an alternative, and how global financial networks serve as both tools of economic statecraft and sources of financial instability in an increasingly multipolar world.

This episode features Paula Findlen, the Ubaldo Pierotti Professor of History at Stanford University. 

How do you feel about a future where the buck no longer stops with the U.S.?? Email us at [email protected]. 

Related Content:

• Matteo Maggiori faculty profile
• “Geoeconomics” Explains How Countries Flex Their Financial Muscles
• Quick Study: China’s Plan to Challenge the Dollar
• Inside China’s Long March Toward Challenging the Dollar

This conversation was recorded on September 5, 2024.

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“The ultimate price of a bad system falls on the public,” says Anat Admati, the George G.C. Parker Professor of Finance and Economics at Stanford Graduate School of Business and author of The Bankers’ New Clothes. “The Constitution did a lot to constrain the government, but the government has failed to constrain institutions in the private sector.” Simply put, Admati says the real problem isn’t just profit-hungry corporations, it’s the systems that let bad actors get away with it. From the opioid crisis and Boeing’s deadly 737 MAX disasters to the 2008 financial crash, Admati identifies how U.S. institutions failed — and shares the “incredibly sobering” realization that shattered her faith in the rules and those who make them.  

This episode features Dominic Cruz and Maya Kesselman Cruz, who perform in the live circus show "Dear San Francisco” at Club Fugazi.

How do you think we can restore trust in business, government, and society? Email us at [email protected]. 

Related Links

• Anat Admati faculty profile
• The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It
• No Rules, No Trust: How Accountability Shapes Communication
• Are Businesses Undermining Democracy?
• "Dear San Francisco" at Club Fugazi

This conversation was recorded on August 20, 2024.

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Is burnout simply the cost of doing business? What responsibility do employers have for the health and well-being of their workers? Jeffrey Pfeffer, the Thomas D. Dee II Professor of Organizational Behavior at Stanford Graduate School of Business and author of Dying for a Paycheck and 7 Rules of Power, says that the connection between workplace stress and negative health outcomes is as strong as the link between smoking and cancer — and may contribute to as many as 120,000 deaths annually in the U.S. alone.

So what do we do about it? 

Pfeffer’s answer isn’t just surprising — it’s a radical critique of the way we work today.

This episode features Sundance Scardino, a retired para-rescue specialist, firefighter, and paramedic.

Is it time to rethink the way we work? Email us at [email protected]. 

Related Links:

• Jeffrey Pfeffer faculty profile
• “The Workplace Is Killing People and Nobody Cares”
• “We Have 30 Extra Years”: A New Way of Thinking About Aging
• Why “Copycat” Layoffs Won’t Help Tech Companies — Or Their Employees

This conversation was recorded on September 10, 2024.

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Can the workplace be as harmful as smoking? Is it possible for governments and corporations to rebuild trust once they’ve lost it? How are nations wielding financial power to shape global politics? On Season Two of If/Then, Stanford Graduate School of Business faculty tackle big questions about business, leadership, and society, providing innovative, research-based insights to help you navigate rapidly changing times.

Join your host, senior editor Kevin Cool, for conversations that will challenge the way you lead, think, and act. 

New episodes on Wednesdays, starting February 5th. 

Thoughts? Email us at [email protected]. More information is available on our website.

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Jensen Huang, co-founder and CEO of NVIDIA, believes leadership is about more than making decisions—it’s about empowering others to reason through ambiguity and drive transformative change. In this bonus episode of If/Then, Huang sits down with Stanford GSB student Shantam Jain, MBA ’24, on Stanford GSB’s View From The Top podcast, to discuss his journey from an ambitious engineer to the leader of one of the most innovative companies in the world. 

Huang reflects on the lessons learned during pivotal moments in NVIDIA’s history, from betting on 3D graphics before the market existed to embracing the potential of AI and accelerated computing. “You can’t create change by doing what everyone else is doing,” Huang explains. “You have to go back to first principles and ask: how would you build this today?” 

Despite navigating industry disruptions and financial crises, Huang remains focused on the future. He shares how NVIDIA has consistently stayed ahead by building technology that not only solves today’s problems but anticipates the needs of tomorrow. As this episode reveals, it’s not just about technological breakthroughs—it’s about cultivating a culture of resilience and purpose to redefine the future.

For a full transcript of this episode, visit our podcast’s website. 

More Resources:

• View From The Top: The Podcast | Stanford GSB
• Jensen Huang on How to Use First-Principles Thinking to Drive Decisions | Stanford GSB

Chapters: 

(00:00:00) Introduction

Kevin Cool introduces a bonus episode from the View From The Top podcast featuring CEO and founder of NVIDIA, Jensen Huang.

(00:01:39) Early Career and Founding NVIDIA

Huang reflects on his journey from LSI Logic to co-founding NVIDIA.

(00:04:56) Securing Early Investments

Convincing Silicon Valley investors to back NVIDIA in a non-existent market.

(00:08:31) Pivoting in the Face of Failure

The critical decisions and resets that saved NVIDIA during challenges.

(00:16:24) Call That Changed Everything

The pivotal phone call that led to a shift in NVIDIA's innovation focus.

(00:19:21) Finding Conviction 

The balance of core beliefs and early indicators of future success.

(00:26:45) Weathering Market Downturns

Staying focused on unchanging principles to weather external challenges.

(00:31:36) Creating a Flat Organization

Empowering employees by sharing context and reasoning transparently.

(00:38:13) The Future of Generative AI

Generative AI’s potential to redefine computing and communication

(00:45:38) Building Organizations for Tomorrow

Designing adaptable, future-focused organizations from first principles.

(00:48:22) Challenges and Opportunities Ahead

Challenges NVIDIA faces, and the innovations Huang is most excited about.

(00:51:33) Pace and Regulation of AI Development

The need for regulatory measures alongside rapid technological advancements.

(00:55:35) Rapid-Fire Insights and Final Advice

Personal reflections, leadership advice, and hopes for NVIDIA’s legacy.

(00:57:21) Conclusion

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