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David LoVerme

Entrepreneur, Musician, Runner, World Traveler, MBA, Product Manager, Lifelong Learner

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The Condensed MBA: Part 2

With my Canadian vacation behind me, it’s time for Part 2 of my 6 part “Condensed MBA” series.  (Click here if you missed Part 1)  Read on to hear about first semester, quarter 2.

First Year: Second Quarter

Financial Management

Like Accounting, the biggest challenge for me was my general lack of familiarity with the vocabulary.  Getting used to a definition of “coupon” that didn’t include cutting something out of a circular was a bit of an adjustment but having Bob Taggart at the helm meant I had an understanding professor who was always available and ready to help.  So what stuck?

  • Time Value of Money- A dollar today is worth more than a dollar in the future.  Understanding the basic concept and how to approach calculating it is crucial.  While I am still a little shaky on the calculation part, I have a strong enough understanding of the basic concept to know if I need to bring in help with the calculations.
  • Helping each other is what sets BC MBAs from the rest- Despite hard work throughout the quarter, I was still pretty shaky heading into the exam.  One of my classmates came in super early on exam day and spent hours with a few of us to ensure we fully understood without asking anything in return…that’s community!

Continue reading “The Condensed MBA: Part 2”

What a Techie can learn from Warren Buffett

Warren Buffett is famous for saying that he does not invest in Tech companies because he doesn’t understand them and cannot predict what they will do in ten years.  He may be a whiz with stocks and insurance companies, but can a Techie like myself really learn a lot of value from him?  Recently, I had the opportunity to attend the Warren Buffett Experience with a group of MBAs from BC and five other schools.  I met the Oracle himself and we had a 2 hour Q&A (with a tasty chicken parm thereafter).  It turns out the answer to my question is a resounding YES!  Buffett spoke very little about investing in particular and more about general business and life lessons as applicable to Tech as they are to Textiles (the business from which his Berkshire-Hathaway holding company gets its name).  I have pages upon pages of notes but will do my best to summarize some of the highlights here.

BC MBA group with Warren Buffett
BC MBA group with Warren Buffett

The Biggest Mistake You Can Make Is Not Using Your Skills And Talents To Their Full Potential

Buffett spent a lot of time highlighting the fact that we had all won the ovarian lottery just by virtue of having the minds, opportunities, families, etc. that allowed us to be in that room.  In light of this, he told us he never really worries about mistakes–that it would be a mistake to complain about anything when you’ve already won on 80:1 odds at birth.  He highlighted a failure to use your skills and talents to their full potential as one of the few real mistakes you can make.  In today’s tech world especially, there are almost limitless free resources out there to make any idea a reality.  Likewise, we have developed a culture that encourages trying, failing, and learning, over the safer routes.  With opportunities like this, the biggest mistake we can make is not following our passions and starting a company, joining a startup, or otherwise following our passion.  Buffett suggested taking the job you would choose if money were not a concern–for many of us, that means the startup world.

Continue reading “What a Techie can learn from Warren Buffett”

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