Transition Economy, Democratization of Wealth-Building Opportunities, & Some of My Efforts
What is the Transition Economy: Whole systems of transformation happening in energy, transport, food, services, water/waste, and manufacturing sectors. Why: Innovations coming to scale, climate-production nexuses, and fragilities in supply chains + biologics from national security, the pandemic, & Transitions.
Democratization of Wealth Opportunities: Recent economic revolutions in tech, transport mechanization, electrification, and industrialization resulted in concentration of wealth (e.g., robber barons, unicorn entrepreneurs). The Agricultural Technology & Trade Revolution starting in the post-Plague 14th century instead resulted in decreased wealth inequality. Why: Labor and supply chains were in short supply forcing returns to labor, skilling, & innovation.
Today the owners of scarce human capital, resources, and supply chains -- all of whom are distributed widely across geography and demographics -- have opportunities to build wealth through returns to labor, skilling, and innovation.
To make this happen, institutes of education and finance must integrate with public and private sectors to mobilize and scale entrepreneurship and skills.
Efforts: Industrial Strategy
I sat on the White House Industrial Strategy group, and related National Economic Council groups on Scale-up Finance and Manufacturing, 2021-2023
I am continuing to support the Administration and Made-in-America on EV Supply Chains working groups
Efforts: Entrepreneurship and Small Business
I was the policy lead on Treasury's $10bn SSBCI (state SME finance & VC program) and $10 Capital Projects Fund (broadband), leading the teams in engaging stakeholders and developing guidelines to statute
I was a Founder and served on the Governance and Allocation Committee Member of the California Rebuilding Fund, a public-private partnership with the State of California for pandemic relief for small business
I had the honor to serve with the City of Oakland, supporting their small business pandemic relief effortss
Efforts: Climate Finance
I was the co-founder of the Net Zero team at Treasury, which published the Net Zero Principles to support financial institutions' meeting climate-impacting Net Zero commitments, and was co-lead of the Domestic Finance Climate Coordinating Committee.
I served on White House interagency committees for climate, including Energy Communities, Climate-Energy-Macro Modeling, Plastics Policy, and EV Supply Chains and informally advised on financial structures with multiple departments and agencies regarding IRA and BIL bills and guidance.
I was a member of the Expert Panel at the Ministry of Finance of Norway, for Oversight or the Norges Bank Global Fund, where I advised (among other topics) on private markets and sustainability.
Laura Tyson and I created the Sustainable and Impact Finance (SAIF) initiative at Berkeley-Haas in 2019. SAIF promotes through leadership and impactful finance through research, education, and engagement. Adair and Laura have developed MBA education pathways toward SAIF careers and fundraised for the launch of the Climate Solutions Fund, to support Berkeley's new joint degree.