Sunday, July 16, 2017

Lessons for universities from Warren Buffett

This is not about managing university endowments!

On a recent flight I watched the fascinating HBO documentary, Becoming Warren Buffett.
He may be one of the richest people in the world, and perhaps the most successful investor of all time. However, what is much more striking than his success is how he got there: in a completely counter-cultural (or iconoclastic) way.

Here a few lessons that I think are particularly relevant to universities as they struggle with their identity, purpose, and management.

Several times Buffett and some of his admirers emphasised this. Good research of companies and understanding the market requires considerable focus. You can't be doing lots of different things or jumping into the latest fad. Universities need to focus on teaching and research. Faculty need to focus on just a few things they can do well.

The long view.
Buffett does not "play" the market. He finds companies that are undervalued or have enduring market share and keeps their stocks for decades.
Similarly, quality and innovative research requires large and long time investments. Rarely do things happen quickly.

Personal relationships are key.
Buffett has had a long and fruitful relationship with Charlie Munger. Furthermore, it seems within Berkshire Hathaway, the personal relationships between employees and with companies they invest in are key. If people can't get along or management is heavy handed or autocratic, long term productivity is unlikely.

Cut all the bureaucratic and management BS.
I might have misheard it but I got the impression that Berkshire Hathaway did not really have an HR or marketing department. Their reputation is their marketing. HR is worked out on a personal level.

It is all about the quality of the product.
Buffett looks for companies that have a quality product for which there is likely be long term demand. It does not matter how much slick marketing there is. In the long term, all that matters is the product. Similarly, universities need to focus on the quality of their "product": their graduates, and the content of the research they produce in papers and books.

Reputation is central.
Buffett preserves his and looks carefully at the companies he invests. Furthermore, a good reputation takes decades to establish but can be lost in days (e.g. through scandal). Universities with a good reputation should really think twice before they "cut corners"  to boost revenue [e.g. by offering expensive Masters degrees by coursework to international students but actually involve students taking undergraduate classes].

Integrity and leadership by example.
This is an important component of Buffett's reputation. Just one example is how he released his tax returns during last years US Presidential campaign. University managers who take/demand ridiculous salaries should think about how that undermines their ability to lead.

Jobs should be fun.
Buffett keeps working because he is having fun not because he wants to make more money. Universities should carefully consider whether they are creating an environment that employees enjoy.

I was also struck by Buffett's generous philanthropy, his concern about economic inequality, and that it would be hard to find a billionaire who was anymore the antithesis of Trump.

Thursday, July 6, 2017

Are theoretical physics and chemistry amenable to online collaboration?

Last week at UQ we had a very nice mathematics colloquium, "Crowdsourcing mathematics problems" by Timothy Gowers.
He first talked about the Polymath project, including its successes and marginal contributions.
He then talked about a specific example of a project currently underway on his own blog, concerning transitive dice. This was pretty accessible to the general audience.

This is where a well defined important problem is defined on a blog and then anyone is free to contribute to the discussion and solution. A strength of this approach is that it makes use of the complementary strengths, experience, and expertise of the participants. Specifically, solving problems includes:
  • selecting a problem that is important, interesting, and potentially ripe for solution
  • defining the problem clearly
  • breaking the problem down into smaller parts including conjectures
  • sketching a possible heuristic argument for the truth of the conjecture
  • giving a rigorous proof of the conjecture
  • finding possible counter-examples to the conjecture
  • connecting the problem to other areas of mathematics
This can be efficient because dead ends and mistakes are found quicker than someone working in isolation. 
People are more motivated and engaged because they are excited to be working on something bigger than themselves and what they might normally tackle. And they enjoy the community.
What about assigning credit in such group work? There is a clear public record of who has contributed what. Obviously, this does not work for bean counters looking at traditional metrics.
This approach mostly attracts senior people who are secure in themselves and their career stage and more interested in solving problems than getting individual credit.

The cultural differences of pure mathematics and physics was striking. The talk was given on whiteboards and blackboards without notes. No powerpoint! The choice of research problems was purely based on curiousity, not any potential practical value or the latest fashion. It is fascinating and encouraging that the pure mathematics community is still "old school" with the focus on quality not quantity.

Aside: Gowers is also well known for initiating a boycott of Elsevier journals.

Now, my question. 
What is stopping theoretical chemistry and physics from such a "crowd sourcing" approach? 
Is it that the problems are not amenable? 
Or is it largely that we are too driven by a system that is fixated on individual credit?

Monday, July 3, 2017

A molecular material and a model Hamiltonian with rich physics

Some of my UQ colleagues and Jaime Merino have written a series of nice papers inspired by an organometallic molecular material Mo3S7(dmit)3. They have considered possible model effective Hamiltonians to describe it and the different ground states that arise depending on the model parameters.
There is a rich interplay of strong correlations, Hund's rule coupling, spin frustration, spin-orbit coupling, flat bands, and Dirac cone physics.
Possible ground states include some sort of Mott insulator, a Haldane phase, semi-metal, ...

A good place to start is the following paper
Low-energy effective theories of the two-thirds filled Hubbard model on the triangular necklace lattice 
C. Janani, J. Merino, Ian P. McCulloch, and B. J. Powell

The figure below (taken from this paper) shows some of the molecular structure and some of the hopping integrals that are associated with an underlying decorated honeycomb lattice.

This model could be called kagomene, because it interpolates between the kagome lattice and the honeycomb lattice (graphene). The figure below is taken from this paper, which uses DFT and Wannier orbitals to estimate the tight-binding parameters and the spin-orbit coupling. Interaction driven topological insulator states are possible on this lattice.

There are a few things that are not "normal" about the physics, arising from the 4/3 band filling and the molecular orbitals that are delocalised over the triangles. Specifically, the orbital degeneracy does not arise from atomic orbital degeneracy (cf. d orbitals, or t2g and eg), but rather the E representation associated with C3 symmetry of the triangles.

Hund's rule coupling. 
This involves the E orbitals and arises purely from the Hubbard U on the non-degenerate orbital on a single lattice site.

Spin-orbital coupling.
This is Spin Molecular Orbital Coupling, where the electron spin couples to the angular momentum associated with motion around the triangle, not the angular momentum of degenerate atomic orbitals.

Haldane phase.
The associated spin-1's arise from the triplet ground state of four electrons on a triangle.
A DMRG study shows that this is the ground state of a three leg-ladder Hubbard model at 2/3 filling.

Many interesting and important open questions remain about the general phase diagram of the Hubbard model on the kagomene lattice. For example, the nature of the Mott insulator, different types of topological order, the possibility of superconductivity.....

Hopefully, these studies will stimulate new experimental studies and synthesis of new chemical compounds in this fascinating class of materials.