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Innovative Companies Founded by MIT Alumni

1/7/2022

Longtime wealth manager Arthur J. Samberg served as the chairman and CEO of Pequot Capital in Connecticut, at one time it held the largest hedge fund with over $17 billion in assets. Through his family office, Hawkes Financial LLC, Art Samberg invested in promising startup companies, including those founded by fellow alumni from the Massachusetts Institute of Technology (MIT).

MIT alumni have founded innovative companies, creating jobs, and impacting many lives. These companies range from sectors such as microprocessor manufacturing to cloud storage services. Below are examples of companies involving MIT alumni.

Intel. Robert Noyce, a co-founder of Intel, received his doctorate in physics at MIT. Before joining Intel, he co-founded Fairchild Semiconductors along with Jay Last and Sheldon Roberts, who are other alumni from MIT.

Bose. Founded by Amar Bose who received his bachelor, masters, and doctorate degrees in electrical engineering from MIT. Bose is a leading audio equipment manufacturer.

Taiwan Semiconductor Manufacturing Company (TSMC). TSMC was the brainchild of Morris Chang who earned his bachelor and masters degrees in mechanical engineering from MIT. Another semiconductor company, Qualcomm, was also founded by MIT alumnus and former faculty member Irwin Jacobs.

Dropbox. Started in 2007, Dropbox is a billion-dollar cloud storage company. Its co-founders, Drew Houston and Arash Ferdowsi, founded the company when they were computer science majors at MIT.

Other notable companies of MIT alumni founders are iRobot, Hewlett Packard, IDG, BuzzFeed, Khan Academy, and PillPack.

Three Mountaineering Lessons that Can Help You in Business, Too

10/11/2021

Throughout his career spanning many decades, Arthur “Art” J. Samberg was the founder and chief executive officer of Pequot Capital Management, Inc. In addition, he established Hawkes Financial, LLC, focusing on healthcare and alternative energy startups investments. Besides his business accomplishments, Art Samberg also conquered Africa’s highest mountain, Mount Kilimanjaro, in 2000.

Mountaineering or the sport of climbing mountains might seem unrelated to business, but in fact, the two share several similarities and can help each other. Following are three mountaineering lessons that can boost your business prowess.

Preparation Outweighs Planning: Most plans fail the moment they are put into practice. The true value of planning lies in preparation. A big mountain trip necessitates breaking down the climb into smaller viable steps. In this way, you turn the set goal from intimidating to achievable. Also, you must consider the strengths and weaknesses of your group and utilize them effectively.

Team Up with People Better Than You: The essence of teamwork is the ability to work together to achieve a common goal, to direct an individual’s talent towards organizational success. Just like climbing a mountain, business is teamwork. In both cases, you need to surround yourself with capable, positive, energetic people that you like and can turn to for help.

Be Aware is the Risk: In the mountains, the danger is your constant companion. Thus, effective risk management is an essential part of any trip. You must know and constantly check your environment. The same applies to business, in which failing to identify a threat could seriously endanger your company. Before taking any risk, ensure you have your emergency kit at hand and a solid support system to help you out if the risk does not pay off.

What Is the Easiest Route to the Top of Mount Kilimanjaro?

8/23/2021

Arthur J. “Art” Samberg studied at the Massachusetts Institute of Technology, Stanford University, and Columbia University, from which he graduated with an aeronautics and astronautics degree, an MS in aeronautics and astronautics, and an MBA, respectively. An avid basketball player, Art Samberg summited Mount Kilimanjaro in 2000 to celebrate his 59th birthday.

Mount Kilimanjaro is the highest mountain in Africa and the world’s highest single free-standing mountain. Located in Arusha, Tanzania, this volcanic mountain stands at 19,40 feet above sea level. There are seven routes that climbers can take to the peak: Machame, commonly referred to as the “whiskey route”; Lemosho; Shira; Rongai; Northern Circuit; Arrow Glacier; and Marangu. What differentiates the various routes is their level of difficulty.

Consensus holds that Marangu, dubbed the “Coca-Cola route,” is the easiest way to ascend Kilimanjaro, because the gradient is not particularly steep and the terrain is not especially rocky. Those who use this route can sleep in huts, unlike the other routes, where the climbers must camp in tents.

More than 30,000 people climb Mount Kilimanjaro annually. Unless you are looking to break a mountaineering record going up and down the mountain, the climb and descent should take you about seven days.

How College Summit Transforms Lives in Low-Income Public Schools

8/18/2021

An accomplished investor who resides in Katonah, New York, Arthur J. “Art” Samberg founded Pequot Capital Management, a company for which he served as CEO, president, and chairman for several years. A known philanthropist, Art Samberg has made significant financial contributions to several charities and institutions, including his alma maters the Massachusetts Institute of Technology (MIT) and Columbia Business School, as well as College Summit.

College Summit, now known as PeerForward, is a nonprofit organization founded in 1993 by J.B. Schramm and Derek Canty. The organization aims to improve the lives of youth from low-income backgrounds by encouraging them to pursue higher education once they graduate from high school so they can better their lives. To do this, PeerForward works with influential juniors and seniors in public schools across the US to help drive key actions by students that will result in better post-secondary enrollment and success.

Annually, PeerForward works with over 36,000 students in grades nine through 12. Public schools that have partnered with the nonprofit have reported a 25 percent increase in college enrollment rates, along with a culture in which every student is expected to graduate college.

The OCC Opens the Doors to the Rebecca and Arthur Samberg Building

6/25/2021

An accomplished financial services executive, Arthur “Art” J Samberg donated funds to support underserved youth during his lifetime. In late 2020, Art Samberg and his wife's contributions facilitated the opening of the Rebecca and Arthur Samberg Building at the Ossining Children's Center (OCC) in New York.

Founded more than 125 years ago, the OCC supports families in the local community. The new space, which spans 27,000 square feet, will allow the organization to host all of its programs in one place. The building also will assist the center in accommodating a growing demand for additional programming, including experiences for preschoolers, toddlers, and infants.

The new venue features an indoor gymnasium, large classrooms with modern amenities, and a common area, as well as outdoor spaces for recreation. Providing a safe space where children can learn and play, it also enhances Ossining's downtown district and is expected to facilitate economic growth in the neighborhood.

Cable Cars at Mount Kilimanjaro

8/9/2019

A widely recognized leader in finance, Arthur (Art) J. Samberg led Pequot Capital Management, Inc., one of the largest hedge funds in the world. He is now the owner of Hawkes Financial, LLC, in Katonah, New York. In addition to his professional accomplishments, Art Samberg successfully climbed Mount Kilimanjaro in 2000.

A world heritage site, Mount Kilimanjaro is Africa’s tallest peak and one of the most popular climbs in the world, according to National Geographic. Every year, nearly 50,000 tourists climb Mount Kilimanjaro, which contributes positively to the tourism industry of Tanzania, its home country. To further boost profits, Tanzania is planning to build cable cars that take visitors to the top of the mountain.

According to Constantine Kanyasu, the deputy minister of the Tanzania tourism department, cable car services will increase the tourist population by 50 percent. The department is conducting feasibility studies and reviewing business plans to determine the next steps for the project.

The Routes to Uhuru Peak on Mount Kilimanjaro

12/21/2018

Art J. Samberg, a widely known investment professional and philanthropist with multiple charitable interests, has made major gifts in particular to Columbia Business School, where the Arthur J. Samberg Institute for Teaching Excellence has offered programs on course development and innovative instruction. Now the head of the family office Hawkes Financial in Katonah, New York, Art Samberg additionally stands out for having summited Tanzania’s Mount Kilimanjaro in 2000.

Africa’s highest mountain at more than 19,000 feet--and the highest freestanding mountain on earth--Mount Kilimanjaro attracts tens of thousands of aspiring climbers every year.

The mountain’s snow-and-glacier-capped heights include three individual volcanic cones. Mountaineers often cite Kibo as the most interesting, since its Uhuru Peak marks Kilimanjaro’s highest point. Kibo is also the only one of the three cones to qualify as a dormant, rather than an extinct, volcano.

The climb to Uhuru Peak can vary over several different routes, each with its own degree of difficulty. Experienced climbers note that the Rongai and Marangu pathways are the easiest, with the Lemosho, Shira, and Machame being more challenging.

Standing atop Uhuru Peak, a climber can experience the thrill of looking out over swaths of peaks reaching to the sky, and the gleaming snow beneath.

How Venture Capital Helps Entrepreneurs Grow Companies

10/12/2018

A former chairman and CEO at Pequot Capital, Arthur “Art” J. Samberg is the owner of Hawkes Financial Group. Through this family office, Art J. Samberg now invests venture capital in startups.

Venture capital has contributed immensely to the growth of startups in the United States and around the globe. The first and most obvious way this has happened is through capital to meet operational needs. Good ideas need a lot of capital to get them started in the market. Venture capital provides entrepreneurs and innovators with the financial staying power they need to conduct market research, secure patents, launch products, hire teams, and grow companies.

These funds are by no means trivial. The National Venture Capital Association estimates that $22 billion in venture capital is invested in US companies every year and over 20 percent of the US GDP is contributed by companies that were helped by venture capital.

Apart from funding, venture capital builds a bridge between entrepreneurs and investors, allowing the former to gain from the knowledge and experience of the latter. Whenever entrepreneurs need help with fundraising, hiring executives, or dealing with regulators, investors can provide the knowledge, networks, or resources to effectively navigate past these hurdles.

The Carbon-Neutral Potential of Nuclear Fusion Energy

9/28/2018

Arthur “Art” Samberg is a technology-focused investor who guides Hawkes Financial, LLC, a family office. Among Art J. Samberg’s high profile responsibilities include chairing Tri Alpha Energy, a nuclear fusion startup that has achieved significant funding.

Plasma-driven fusion has long been hypothesized as a source of unlimited, carbon-neutral energy. It is distinct from the familiar nuclear fission process in which large uranium-235 atoms are split into more minute atoms, in the process generating significant energy. Drawbacks of this approach include the scarcity of uranium and the expense and safety hazards associated with the technology. A major issue is that radioactivity stays present in nuclear waste for centuries.

Nuclear fusion represents an opposite reaction, through which small atoms are squeezed together to make larger atoms. This creates tremendous energy, approximately three to four times more than fission, from a small amount of matter. It replicates the process by which the sun constantly generates energy, with hydrogen nuclei jammed together with heavier elements, albeit in vastly larger quantities.

The potential advantages of this process includes no pollution produced and minute amounts of radioactive waste. In cases where a malfunction occurs, there is no meltdown risk, as the reactor simply shuts down. The challenges of fusion are that it requires extreme temperatures and speeds for atoms to shake off electrons and fuse with other atoms.

First Year Forward Helps Students Navigate First Year of College

8/21/2018

Arthur “Art” J. Samberg serves as the owner of Hawkes Financial LLC, his family office, in New York, where he oversees investment ventures and the management of family funds. A member of several philanthropic boards, Art Samberg belongs to the national advisory board of Peer Forward, formerly known as College Summit. Peer Forward offers programs and resources that help students pursue opportunities in higher education, such as the First Year Forward program.

The free program is designed for incoming college freshmen enrolled in two or four-year degree tracks at an accredited college or university. Program participants receive weekly text messages during their first year of college on a wide variety of topics, ranging from FAFSA information and available student resources to mid-term management and staying healthy on campus. Weekly messages focus on helping students navigate their first year on campus and improve their experience. First Year Forward Ambassadors staff the program, many of whom are Peer Forward Alumni.