The first session of the Business School’s BizTalks Series in Fall Term took place in mid-October on campus and also via Zoom to reach out to a broader audience. This session was an enlightening exploration of the dynamic worlds of start-ups and Special Purpose Acquisition Companies (SPACs), providing an opportunity for students and faculty to learn from leading experts as well as to exchange and network. Two esteemed professors brought unique insights to the session.
Associate Prof. Pavel ZHELYAZKOV of the Department of Management presented his research on "How Do Unconventional Start-ups Professionalize?” He delved into how the initial market positioning of entrepreneurial ventures shapes their professionalization over time. Challenging conventional wisdom, Prof. Zhelyazkov’s findings suggest that unconventional start-ups prioritize the development of external roles—such as marketing and sales—over internal functions like accounting and finance. This nuanced understanding highlights the diverse paths that ventures take as they scale, providing valuable lessons for aspiring entrepreneurs.
Associate Prof. Martin SZYDLOWSKI of the Department of Economics explored "Harnessing the Overconfidence of the Crowd: A Theory of SPACs". His analysis focuses on the implications of investor behavior in SPAC transactions, particularly how overconfidence can lead to over-investment in unprofitable ventures. Prof. Szydlowski discussed the consequences for both short-term and long-term investors, offering insights into potential policy interventions that could improve outcomes for unsophisticated investors.