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Friendship, family, relationship breakups over politics all rising, new study finds
Politics in America is no longer just dividing voters at the ballot box... it may also be wrecking group chats, family dinners, and lifelong friendships.
Labour leadership jostling puts Brexit back under political spotlight
The UK's relationship with the EU is shaping up as a key issue for a possible Labour leadership contest and the coming by-election in the Makerfield.
Trump and Xi move towards business-first relationship after Beijing summit
The two leaders did not resolve differences on key issues like Iran and Taiwan, despite push to extend truce.
Notre Dame says jump. ACC asks how high. Inside college football's most dysfunctional relationship
The Fighting Irish can insult, blame and posture — safe in the knowledge the ACC will never push back.
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
Fresno podcaster launches sports rep firm, signs UFC contender
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Around the MHS
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HHS expands access to Parent-Child Interaction Therapy through telehealth | Health and Human Services North Dakota
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Scientists Question Trust in AI Over Colleagues
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UK PM Starmer battles for political survival in pivotal speech as gilt yields rise
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Science Reveals the Ideal Age Gap for a Couple That Actually Lasts
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Dr. Chloe Carmichael on political breakups destroying American friendships
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Eight practical tips for effective business development
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New study finds increase in ‘political breakups’
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Atlanta Startup BD4 Builds Business Development Platform for Attorneys, Consultants, and Wealth Managers
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Business Briefs: May 8, 2026
Amy Watts joins Greenfield Savings Bank’s wealth management team GREENFIELD — Greenfield Savings Bank has announced that Amy Watts has joined its wealth management team as a vice president and financial advisor, bringing a relationship‑centered, accessible approach to financial planning. Watts, who is now available to meet with clients, is a certified financial planner practitioner, financial […]
New study finds increase in ‘political breakups'
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Building the Business Beat for the Longterm
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Blakeman is embracing his relationship with Trump.
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Why One Coach’s Personal Life Is a Sports-Wide Scandal
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Empowering Veterans: The 2026 Fayetteville Veterans Business Expo aims to close the opportunity gap
This is the first year of the Veteran Business Expo, and it grew out of Fayetteville PWC’s Economic Impact Program, which focuses on expanding access and opportunity in public-sector contracting while strengthening the local economy. It builds off the success of previous events held by PWC, like the 2024 Industry Day (pictured above). Photo provided by PWC. The Fayetteville Public Works Commission (PWC) will host the inaugural 2026 Veterans Business Expo on May 14 at the PWC Main Operations Complex at 955 Old Wilmington Road, seeking to connect former U.S. Military members with vital business opportunities in their community. The event, which will take place from 4 p.m. to 6 p.m., is part of a partnership between PWC and the Veterans Business Outreach Center at Fayetteville State University (VBOC) and Fayetteville-Cumberland Regional Entrepreneur and Business HUB (FSU HUB).Aaron Harris, PWC’s manager of economic inclusion programs, said the event is designed to connect Veteran-owned businesses with partners and decision-makers who can help move opportunities forward.“This event brings together Veteran entrepreneurs alongside government agencies, public entities, contractors and resource partners in one place, creating a purposeful space to build relationships, exploring procurement and contracting possibilities and strengthening our region’s Veteran-owned business community,” Harris said. The Veterans Business Expo was devised to feature, highlight and facilitate direct connections and commerce. “We want to get our Veterans a platform for their businesses,” said Camille Little, the supplier diversity analyst at PWC. “Here at PWC, we have 20 departments, and we procure… I can’t tell you all the goods and services. This is our first expo. We’re looking for general contractors, electricians, landscapers, janitorial, construction suppliers, architecture, farms and engineering firms.” Little said, much like businesses in every industry, Veterans are often in need of assistance getting their foot in the door.“When Veterans are starting up, they have to know what resources are [available],” Little noted. “They have this ample amount of resources, but they need to know how to get started.” Identifying those resources and connecting Veteran business owners with opportunities and business development programs are made possible by the partnership between PWC and VBOC, Little said. The partnership has allowed the expo to flourish, she added.“There are opportunities, there are consultant workshops and different things that we partner with them for all the time,” Little said. “It’s about easing that transition because starting a business is hard. Having the dedication to continue after that first year is even harder right now.” That is why, Little said, the partnership with resources from Fayetteville State University brings decision makers to the table. “If you are a Veteran business owner, you may not know how to do business with PWC or the City of Fayetteville or FSU, or partners,” Little said. “‘Where do I get started?’ ‘How do I get contracts?’ Bringing people to an understanding and then having an opportunity like this, where you’re talking to that person who’s making the decision… that is our goal.”Those meetings between Veteran-owned businesses and other decision-makers will present a chance to showcase products and services directly to organizations seeking qualified vendors and capable partners, Harris said. Agencies and contractors, he added, can meet and engage businesses ready to support upcoming needs. Little said PWC and all of its departments, as well as the City of Fayetteville, and FSU will be on hand. Additionally, there will be procurement officers from the North Carolina Department of Public Safety. “Resource partners who support small business development will also be on hand, helping make introductions and reinforcing pathways that support growth for Veteran entrepreneurs,” Harris said.For Veteran entrepreneurs, Little said she recommends two things: an answer to “why?” and a business plan.“I would ask them, what problem are they solving with their business?” she noted. “Then I would also tell them to start making a business plan. I run into a lot of firms, and it’s like, ‘What is your plan?’ So just knowing where you want to go with your business is important.”Little said it is important to differentiate between a business that helps transition servicemembers away from the U.S. Military versus a business that Veterans consider the next chapter of their lives.“How much dedication are you going to give to this business to make it successful?” Little noted. “So I would always start with what’s your business plan.”For Harris, the event will be able to cover the needs of all types of Veteran-owned businesses.“Another important lesson is the need to meet businesses where they are,” he said. “Veteran-owned businesses are at different stages of development, so offering multiple entry points, networking, education and referrals has proven essential.”Registration information can be found at: www.eventbrite. com/e/2026-veterans-business-expo-connecting-heroes-to-opportunity-tickets-1984308563329?aff=ebdssbdestsearch
Reggie Fils-Aimé Says Amazon Asked Nintendo To Break The Law
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SAP Business Data Cloud integration with Databricks made it easy to Delta Share your SAP data sets natively into Databricks. But it is difficult to make use of this data without its rich semantic context. Now, SAP Business Data Cloud Delta Shares automatically sync semantic metadata into Unity Catalog — including column and table descriptions, primary/foreign key relationships, and data governance tags. This enables the Databricks Genie to immediately understand your SAP data, making it ready for natural language discovery and secure analytics.
Northwood University Celebrates 2026 Class of Outstanding Business Leaders
Gala honors achievement, raises scholarship funds, and inspires students to pursue lives of meaning, leadership, and earned success Northwood University celebrated five honorees whose vision and leadership have transformed industries and communities on Saturday, April 18, during the 46th Outstanding Business Leader Awards Gala at the Henry Ford Museum in Dearborn, Michigan. The gala brought together honorees, alumni, students, donors, and university leaders for a signature event rooted in Northwood’s mission to develop free-enterprise leaders who drive global economic and social progress. This year’s honorees represented an array of industries, including entertainment, entrepreneurship, construction, manufacturing, motorsports, and automotive retail. “Outstanding Business Leader Awards is one of the most meaningful traditions at Northwood University,” said Dr. Kent MacDonald. “It gives our students the opportunity to learn directly from leaders who have built exceptional careers through vision, perseverance, personal responsibility, and service to others. What makes these honorees special is that their impact reaches far beyond business success. They create jobs, strengthen communities, open doors for others, and lead with purpose. They remind our students that free enterprise, when guided by character and integrity, can be a powerful force for good.” Since 1981, the Outstanding Business Leader Awards have recognized exceptional business leadership while supporting student opportunity through the Outstanding Business Leader Endowed Scholarship Fund. Prior to the gala, honorees met with Northwood students during a roundtable conversation designed to give students direct access to first-hand mentorship and career insight. The student-centered experience continued that evening, as each honoree was formally introduced by a Northwood student selected through a competitive process that drew more than 50 applicants this year. The experience reflects Northwood’s emphasis on learning through experience and providing students with meaningful opportunities to build confidence, connections, and professional momentum before graduation. The following honorees and presenters were featured at this year’s Outstanding Business Leader Awards Gala: Paul A. Glantz, chairman and CEO, EH Real Estate LLC; chairman emeritus, Emagine Entertainment Inc., was introduced by Kennedy Williams, a marketing communications and automotive aftermarket management student from Farmington Hills, Michigan. They are pictured with Gala Emcee Steve Madincea (far left) and Northwood University President Kent MacDonald. Jennifer Tenaglia Panning ’92, president, Artisan Tile Inc., was introduced by Karley Baker, a finance and marketing student from Washington Township who is enrolled in Northwood’s four-year bachelor/MBA track. Danny Sullivan, 1985 Indianapolis 500 champion, 1988 IndyCar World champion, and 1994 Rolex 24 at Daytona champion, was introduced by Max Hart, an automotive marketing and management student from Cheboygan, Michigan. Reagan Cordes, a sales management student from Davison, Michigan, is pictured introducing Linzie Venegas, chief operating officer of Ideal Group, who was unable to attend the gala. Larry Zinn, executive general manager of Warren Henry Auto Group and a 2008 Northwood alumnus, was honored to accept the Outstanding Business Leader Award on behalf of his father, Warren Henry Zinn ‘77, who was unable to attend Saturday’s gala. Larry Zinn was introduced by Bella Smylie, a data analytics student from Clare, Michigan. “This gala is about more than recognizing business excellence; it’s also about investing in students and reinforcing the relationships that make Northwood special,” said Advancement Vice President Murray Kyte. “We celebrate leaders whose lives reflect The Northwood Idea while raising scholarship funds to invest in students whose ambition, character, and entrepreneurial spirit reflect the values Northwood seeks to advance.” “During my time at Northwood, I’ve been fortunate to experience things I never could have imagined,” said Baker, who added she was honored to form a meaningful connection with her Outstanding Business Leader honoree. “…Northwood builds a network that stretches far beyond these walls, one shaped by shared values, a belief in free enterprise, and a conviction that business, done right, can change lives.” To learn more about this year’s honorees and gala sponsors, visit the Outstanding Business Leaders Awards webpage at www.northwood.edu/advancement/signature-events/outstanding-business-leader-awards/. Share this page
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The program is generously sponsored by the law firms Gunderson Dettmer and Goodwin Procter. Meet this year’s CBL Scholars: Deniz Masjedi, Alvaro Flores, and Tavia Pappaly. All three have secured summer associate positions at prestigious law firms. Deniz Masjedi: A Passion for Helping Founders Grow Companies Deniz Masjedi, who was born in Iran and moved to Southern California as a teenager, traces her interest in law to her family’s immigration journey and her desire to advocate for herself and her family. She earned a bachelor’s degree at UC Berkeley, where she studied political science and sociology. At UC Law SF, she serves as a 1L representative for the Iranian Law Students Association and is active in the Business Law Society and Technology & Law Society. Next fall, she will serve as director of mentorship for the Technology & Law Society and director of professional development for the Business Law Society. She will join Sidley Austin this year as a 1L/2L summer associate. Q: What draws you to business law? A: Prior to law school, I worked in Cooley LLP’s Private Companies practice group as a corporate paralegal for three years, supporting over 100 venture-backed startups and venture capital funds. I found purpose in helping founders transform their vision into successful companies. It was incredibly rewarding being part of their journeys—from company formation and initial financing to major transactions such as M&A deals. What excites me most about this field is the potential for a small, innovative company to become the next Google or Zoom, shaping how people communicate and access information. I hope to continue supporting entrepreneurs and investors as a corporate attorney. Q: What does it mean to you to have been awarded this scholarship? A: As the first person in my family to attend law school in the United States, receiving this scholarship is a tremendous honor. My parents and I left everything behind so that I could enjoy the freedom to practice my religion without persecution and pursue a career in law as a woman. This award is an acknowledgment of my dedication to business law and motivates me to continue pursuing excellence in this field. It also recognizes years of hard work—learning a new language, navigating the college and law school application process, and ultimately building a career in the legal profession. Q: How will this scholarship help support your future goals? A: This scholarship will provide access to mentorship from leaders in the field, enabling me to develop the skills necessary to offer practical advice and effective representation to future clients. It also eases the financial burden of law school, letting me focus on my coursework and deepen my commitment to corporate law. As an immigrant, breaking into the legal profession has not always been easy, and the time that mentors have invested in me has been instrumental to my progress. This scholarship will allow me to continue building those relationships while positioning me to one day mentor others pursuing similar paths. Alvaro Flores: Inspired by Entrepreneurs The son of Mexican immigrants raised in San Antonio, Texas, Alvaro Flores says he has long been interested in how policy, markets, and culture shape society. He studied international relations and global economy at the University of Southern California, with minors in business finance and legal studies. His experiences span local political organizing, venture capital and startup work, and teaching entrepreneurship. At UC Law SF, he is involved in the Business Law Society, Technology & Law Society, and the Latinx Law Student Association. He will join Perkins Coie as a 1L/2L summer associate with the firm’s Emerging Companies & Venture Capital practice. Q: What draws you to business law? A: I’m drawn to stories of entrepreneurs whose simple ideas become companies that shape the economy and society. Spending time in venture capital and working directly with founders has shown me that many important decisions in the scaling process are ultimately legal ones, particularly how companies are structured and how capital is raised. Business law sits at the intersection of innovation and equity. It offers a way to stay close to the pace of technological change while also helping expand who gets to participate in it. There is something special about being part of that process here in the Bay Area, where the American Dream feels like it is reimagined in real time. Q: What does it mean to you to have been awarded this scholarship? A: I am truly grateful for the support and belief this scholarship represents. I see it not just as recognition, but also as alignment. The CBL Scholars Program’s focus on developing individuals who engage deeply with the business and technology ecosystem reflects the path I have been intentionally building. More than anything, it feels like an investment in that journey. I have been thoughtful about each next step–whether teaching, working in venture capital, or building multidisciplinary experiences–and this scholarship reinforces that those efforts come together in a meaningful way. Q: How will this scholarship help support your future goals? A: It allows me to focus more on developing as a business lawyer, without the distraction of financial constraints. Beyond that, the mentorship and access to the Bay Area network are just as valuable. I’m especially interested in working with early-stage companies and investors, so the opportunity to learn directly from people operating at a high level in that space is huge. Tavia Pappaly: Working in the Wine Industry Sparked Interest in Business and Law Tavia Pappaly spent five years in the wine industry before deciding to pursue law school with a goal of becoming a corporate transactions attorney. Pappaly says she wants to use her legal skills to help business grow and thrive. A first-generation law student from Fairfield, California, she is a member of the Legal Education Opportunity Program (LEOP) and will serve as vice president of social planning for the UC Law SF Sports Law Society in her 2L year. She plans to work as a summer associate at Gibson Dunn in San Francisco after her 2L year. Q: What draws you to business law? A: Business law brings together many of my interests and personal experiences. As the daughter of immigrants who grew up around a family-owned small business, I saw firsthand both the opportunities and challenges of building something from the ground up. That perspective, combined with my experience in the wine industry, solidified my interest in helping businesses of all sizes tackle evolving legal challenges. I’m excited to grow within the corporate law space and develop the skills and experience to support businesses at every stage. I’m deeply motivated to give back to immigrant communities and small business owners, whose experiences often intersect. By building a strong foundation in corporate law, I hope to support those working to create generational stability and to contribute in a meaningful way to the communities that have shaped me. Q: What does it mean to you to have been awarded this scholarship? A: Receiving this scholarship is incredibly meaningful to me. I take great pride in my background as a first-generation student and a woman of color, so being recognized for my potential in a field that has historically underrepresented those communities is both affirming and empowering. This program will help connect me to the resources and committed mentors that will help me succeed. Beyond that, it is no secret that law school is a significant financial commitment. This scholarship helps ease both the financial burden and the stress that comes with it, allowing me to focus more on my education and long-term goals. I am incredibly grateful! Q: How will this scholarship help support your future goals? A: This scholarship has already connected me with an incredible network of faculty, business law professionals, and like-minded students. The community fostered by the Center for Business Law is deeply supportive, and I’m excited to grow alongside my cohort. I truly believe this network will play an important role in helping me thrive in law school and position me for success in business law. As I have seen firsthand how impactful both financial scholarship and mentorship are, I hope to give back in this same way later in my career.
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