
Goldman Sachs (ret.)
Engaging young people in the scientific method—observing, building models, testing ideas—helps them gain knowledge, and that excites me most about the Academy.
Goldman Sachs (ret.)
Engaging young people in the scientific method—observing, building models, testing ideas—helps them gain knowledge, and that excites me most about the Academy.
Published February 4, 2025
Armen Avanessians is the former Head and Chief Investment Officer, Goldman Sachs Asset Management’s (GSAM) Quantitative Investment Strategies Group and is currently a member of the Board of Governors for The New York Academy of Sciences. With an educational background in electrical engineering, and extensive professional experience in finance, he brings a valuable perspective to the Board. We interviewed him to learn more about his background, how engineering principles can be applied to the world of finance, and why he chose to get involved with the Academy.
*some quotes have been edited for length and clarity
The highest value I can find is being useful — offering my support in ways that inspire and bring value to others.
Several colleagues of mine have served on the Board. I became more engaged when Nick Dirks, who knew me from Columbia University, joined the Board. He brought me in to help reimagine the Academy. Given my engineering background and experience on other boards like Columbia, MIT, the National Museum of Mathematics, and FIRST robotics, Nick felt I could add value, and I joined with that intent.
I started as an electrical engineer at Bell Laboratories in the early eighties, working on chip design. Bell Labs had a unique model: research work, even theoretical, could be capitalized by AT&T. After the divestiture, that model broke, and AT&T shifted to focusing on making money more directly. This shift led me to be interested in understanding money itself, which ultimately led me to Goldman Sachs. Finance, at its core, is the study of money, and I saw an opportunity to apply my quantitative skills to this field, helping create what became known as “strats”.
Strats brought the scientific method—making observations to build models that explain the past and testing their ability to predict the future—into finance.
Education. My focus across philanthropic efforts, from MIT to the Fund for Armenian Relief, has always been on science education—at all levels. Whether it’s inspiring children in grade school or engaging university students, I believe science is more than subjects like physics or chemistry. It’s a mindset, a method for understanding the world.
Engaging young people in the scientific method—observing, building models, testing ideas—helps them gain knowledge, and that excites me most about the Academy.
Published January 30, 2025
Tom Franco is a Senior Advisor with Clayton, Dubilier & Rice, LLC and is also a member of the Board of Governors for The New York Academy of Sciences. With an extensive background in law, business, entrepreneurship, and teaching, he brings a valuable perspective to the Board. We spoke with him to learn more about his background, what motivates him, and why he chose to get involved with the Academy.
*some quotes have been edited for length and clarity
It means a great deal because The New York Academy of Sciences is involved in really important initiatives advancing technology, innovation, scientific knowledge in society, and even in politics, which are central issues of our time. So having a front row seat on that is intellectually stimulating. But it’s also gratifying to be part of shaping the future through the network of thought leaders that The New York Academy of Sciences convenes and assembles.
The New York Academy of Sciences is a legendary organization with a storied past. It has included some of the most important figures in science and related disciplines, such as Margaret Mead and Thomas Jefferson. It is definitely an organization that people know about. In particular, the appointment of Nick Dirks as Chief Executive Officer was the magnet for me. I know Nick, and was so pleased to see him take the reins of leadership given his eclectic background. He is a Renaissance man, and I think that the Academy appeals to Renaissance people.
I come from an eclectic background. I have experience teaching and being an entrepreneur, which includes successfully starting several businesses. Additionally, I have been in the investment business and have supported big, innovative, change-the-world types of investments. I am also a divinity school student, and so I’m very interested in the linkage between science and faith and the shared sense of truth.
So, all of these personal experiences and professional experiences create a stew which is, I think, relevant to what the Academy is trying to accomplish in the largest sense, especially that shared sense of truth. The Academy provides complementary perspectives on what is changing the world, what is likely to change the world, and promoting what I might describe as human flourishing. Going to the Science Salons or other Academy events or even sitting around the Board of Governors table with the people that you interact with, you cannot help but be filled with wonder and awe. This is much like how science often leads to such inspiring results.
I love the recognition of the young scientists as exemplified by the Blavatnik Awards for Young Scientists. These awards recognize professors that are hitting their prime. They’re all academically brilliant, and they’re laboring away. Everybody likes to be recognized, and I think they deserve a chance at the limelight.
I’m also impressed with the Academy’s educational initiatives. These efforts effectively inspire younger people. Bringing the magic of science and the secret power of science to school-aged kids is really worthwhile as well.
The Academy’s mission has never been more important, particularly during a time when trust in science can no longer be taken for granted.
Clayton, Dubilier & Rice, LLC
The Academy’s mission has never been more important, particularly during a time when trust in science can no longer be taken for granted.
Published May 10, 2024
By Nick Fetty
Digital Content Manager
The New York Academy of Sciences is saddened to learn about the passing of James “Jim” Simons, a former Board member and longtime supporter of the Academy.
Simons was an award-winning mathematician, a legend in quantitative investing, and an inspired and generous philanthropist. He and his wife established the Simons Foundation to promote scientific and mathematical research. Their support led to breakthroughs in our understanding of autism, the origins of the universe, cellular biology and computational science.
Earlier in his career he founded Renaissance Technologies, a hedge fund that pioneered quantitative trading and became one of the most profitable investment firms in history. He also previously chaired the math department at Stony Brook University in New York.
He served on the Academy’s Board of Governors from 1998 to 2001 and was a longtime benefactor of the Academy’s efforts to promote science for the public good. Simons was 86 years old.
Published April 12, 2024
By Nick Fetty
Digital Content Manager
It was nearly a full house when authors Nicholas Dirks and Reid Hoffman discussed their respective books during an event at The New York Academy of Sciences on March 27, 2024.
Hoffman, who co-founded LinkedIn as well as Inflection AI and currently serves as a partner at Greylock, discussed his book Impromptu: Amplifying Our Humanity Through AI. Dirks, who spent a career in academia before becoming President and CEO of the Academy, focused on his recently published book City of Intellect: The Uses and Abuses of the University. Their discussion, the first installment in the Authors at the Academy series, was largely centered on artificial intelligence (AI) and how it will impact education, business and creativity moving forward.
The talk kicked off with the duo joking about the century-old rivalry between the University of California-Berkeley, where Dirks serves on the faculty and formerly served as chancellor, and Stanford University, where Hoffman earned his undergraduate degree in symbolic systems and currently serves on the board for the university’s Institute for Human-Centered AI. From Stanford, Hoffman went to Oxford University as a Marshall Scholar to study philosophy. He began by discussing the role that his background in philosophy has played throughout his career.
“One of my conclusions about artificial intelligence back in the day, which is by the way still true, is that we don’t really understand what thinking is,” said Hoffman, who also serves on the Board of Governors for the Academy. “I thought maybe philosophers understand what thinking is, they’ve been at it a little longer, so that’s part of the reason I went to Oxford to study philosophy. It was extremely helpful in sharpening my mind toolset.”
He encouraged entrepreneurs to think about the theory of human nature in the work they’re doing. He said it’s important to think about what they want for the future, how to get there, and then to articulate that with precision. Another advantage of a philosophical focus is that it can strengthen public intellectual discourse, both nationally and globally, according to Hoffman.
“It’s [focused on] who are we and who do we want to be as individuals and as a society,” said Hoffman.
Early in his career, Hoffman concluded that working as a software entrepreneur would be the most effective way he could contribute to the public intellectual conversation. He dedicated a chapter in his book to “Public Intellectuals” and said that the best way to elevate humanity is through enlightened discourse and education, which was the focus of a separate chapter in his book.
The topic of education was an opportunity for Hoffman to turn the tables and ask Dirks about his book. Hoffman asked Dirks how institutions of higher education need to think about themselves as nodes of networks and how they might reinvent themselves to be less siloed.
Dirks mentioned how throughout his life he’s experienced various campus structures and cultures from private liberal arts institutions like Wesleyan University, where Dirks earned his undergraduate degree, and STEM-focused research universities like Cal Tech to private universities in urban centers (University of Chicago, Columbia University) and public, state universities (University of Michigan, University of California-Berkeley).
While on the faculty at Cal Tech, Dirks recalled he was encouraged to attend roundtables where faculty from different disciplines would come together to discuss their research. He remembered hearing from prominent academics such as Max Delbrück, Richard Feynman, and Murray Gell-Mann. Dirks, with a smile, pointed out the meeting location for these roundtables was featured in the 1984 film Beverly Hills Cop.
Dirks said that he thinks the collaborative culture at Cal Tech enabled these academics to achieve a distinctive kind of greatness.
“I began to see this is kind of interesting. It’s very different from the way I’ve been trained, and indeed anyone who has been trained in a PhD program,” said Dirks, adding that he often thinks about a quote from a colleague at Columbia who said, “you’re trained to learn more and more about less and less.”
Dirks said that the problem with this model is that the incentive structures and networks of one’s life at the university are largely organized around disciplines and individual departments. As Dirks rose through the ranks from faculty to administration (both as a dean at Columbia and as chancellor at Berkeley), he began gaining a bigger picture view of the entire university and how all the individual units can fit together. Additionally, Dirks challenged academic institutions to work more collaboratively with the off-campus world.
Dirks then asked Hoffman how networks operate within the context of artificial intelligence and Silicon Valley. Hoffman described the network within the Valley as “an intense learning machine.”
“It’s a combination of competition and cooperation that is kind of a fierce generator of not just companies and products, but ideas about how to do startups, ideas about how to scale them, ideas of which technology is going to make a difference, ideas about which things allow you to build a large-scale company, ideas about business models,” said Hoffman.
During a recent talk with business students at Columbia University, Hoffman said he was asked about the kinds of jobs the students should pursue upon graduation. His advice was that instead of pinpointing specific companies, jobseekers should choose “networks of vibrant industries.” Instead of striving for a specific job title, they should instead focus on finding a network that inspires ingenuity.
“Being a disciplinarian within a scholarly, or in some case scholastic, discipline is less important than [thinking about] which networks of tools and ideas are best for solving this particular problem and this particular thing in the world,” said Hoffman. “That’s the thing you should really be focused on.”
Much of Hoffman’s book includes exchanges between him and ChatGPT-4, an example of a large language model (LLM). Dirks points out that Hoffman uses GPT-4 not just an example, but as an interlocutor throughout the book. By the end of the book, Dirks observed that the system had grown because of Hoffman’s inputs.
In the future, Hoffman said he sees LLMs being applied to a diverse array of industries. He used the example of the steel industry, in areas like sales, marketing, communications, financial analysis, and management.
“LLMs are going to have a transformative impact on steel manufacturing, and not necessarily because they’re going to invent new steel manufacturing processes, but [even then] that’s not beyond the pale. It’s still possible,” Hoffman said.
Hoffman said part of the reason he articulates the positives of AI is because he views the general discourse as so negative. One example of a positive application of AI would be having a medical assistant on smartphones and other devices, which can improve medical access in areas where it may be limited. He pointed out that AI can also be programmed as a tutor to teach “any subject to any age.”
“[AI] is the most creative thing we’ve done that also seems to have potential autonomy and agency and so forth, and that causes a bunch of very good philosophical questions, very good risk questions,” said Hoffman. “But part of the reason I articulate this so positively is because…[of] the possibility of making things enormously better for humanity.”
Hoffman compared the societal acceptance of AI to automobiles more than a century ago. At the outset, automobiles didn’t have many regulations, but as they grew in scale, laws around seatbelts, speed limits, and driver’s licenses were established. Similarly, he pointed to weavers who were initially wary of the loom before understanding its utility to their work and the resulting benefit to broader society.
“AI can be part of the solution,” said Hoffman. “What are the specific worries in navigation toward the good things and what are the ways that we can navigate that in good ways. That’s the right place for a critical dialogue to happen.”
Hoffman said because of the speedy rate of development of new AI technologies, it can make effective regulation difficult. He said it can be helpful to pinpoint the two or three most important risks to focus on during the navigation process, and if feasible to fix those issues down the road.
Carbon emissions from automobiles was an example Hoffman used, pointing out that emissions weren’t necessarily on the minds of engineers and scientists when the automobile was being developed, but once research started pointing to the detrimental environmental impacts of carbon in the atmosphere, governments and companies took action to regulate and reduce emissions.
“[While] technology can help to create a problem, technologies can also help solve those problems,” Hoffman said. “We won’t know they’re problems until we’re into them and obviously we adjust as we know them.”
Hoffman is currently working on another book about AI and was invited to return to the Academy to discuss it once published.
For on-demand video access to the full event, click here.
Check out the other events from our 2024 Authors at the Academy Series
Full video of these events is available, please visit nyas.org/ondemand
Published April 3, 2024
Peter Thorén is Executive Vice President of Access Industries and a member of the Board of Governors for The New York Academy of Sciences. With an extensive background in law and business, he brings a valuable perspective to the Board. We interviewed him to learn more about his background, what he’s learned from working with scientists, and why he chose to get involved with the Academy.
*some quotes have been edited for length and clarity
First and foremost, I’m extremely proud to be a member of the Board for The New York Academy of Sciences. I am not a scientist by training, but I have great respect and admiration for what talented scientists can do. The brilliance of science is producing solutions to problems and making the world better. Being a Board member for the Academy enables me to assist in that process in any way I can. This is both a privilege and an honor, and I appreciate the opportunity.
I first became involved around 2004, when the Academy was still located up on East 63rd Street, on the Upper East Side, and Ellis Rubinstein was the President. At that time, the Academy was going through a bit of a financial issue and was considering selling their building.
Access Industries ended up buying the Academy building and, through the process of negotiating the deal, we got to know Ellis and the Academy well. Ellis, in turn, got to know Len Blavatnik, the Founder of Access Industries. In 2005, Ellis, Len, and I attended the Nobel Prize Ceremony in Stockholm with our wives. From there, the relationship with the Academy and the growth of the Blavatnik Awards for Young Scientists took off. So that’s the genesis of my relationship with the Academy and I have been on the Board ever since. I marvel at the Academy’s growth and expansion over that time.
I’m a lawyer and a businessman by training and it’s what I’ve done for the last 45 years. Over the years, I’ve learned that the more interested you are in the world around you, the more creative you become, the more innovative you are in your thought process and the more successful you are in your career and life in general. This process applies to the way the Academy, and the many talented individuals we associate with at the Academy, think. It defines how they look at problems and identify solutions to seemingly insurmountable issues. This creative approach benefits everyone but particularly those of us who are on the periphery of science and who benefit from what is being done within the Academy and other scientific institutions.
Well, there are many wonderful initiatives and programs at the Academy. But clearly, the one nearest to my heart, given the fact that I was there from the beginning in 2007 and have watched it grow over the years, is the Blavatnik Awards for Young Scientists. We started with the regional awards for postdocs in the tri-state area, then that grew into the national award for faculty-ranked scientists and engineers throughout the entire United States. Then, in 2017, we expanded the awards further to honor faculty-ranked researchers in Israel and the United Kingdom.
By the end of 2024, we’ll have recognized 470 young scientists from more than 35 different scientific and engineering disciplines and have provided over $17 million in unrestricted awards. Being able to support young scientists early in their career, and to give them the confidence, the recognition, and an extra push forward to do even greater things, is wonderful. Of all the different things I do on a philanthropic side as head of the Blavatnik Family Foundation, being part of the Blavatnik Awards for Young Scientists is the most fun, the most interesting, and the most rewarding. I’m proud and honored to work alongside Len Blavatnik and the talented and enthusiastic people at the Academy who make this possible.
Access Industries
I have great respect and admiration for what talented scientists can do. The brilliance of science is producing solutions to problems and making the world better. Being a Board member for the Academy enables me to assist in that process in any way I can.
Published February 9, 2024
Grace Wang is the President of Worcester Polytechnic Institute and also a member of the Board of Governors for The New York Academy of Sciences. With an extensive background in STEM, she brings a valuable perspective to the Board, helping to guide the Academy in its decision-making. We interviewed her to learn more about her background, what motivates her, and why she chose to get involved with the Academy.
*some quotes have been edited for length and clarity
I’m very proud of my association with The New York Academy of Sciences. I’m an engineer and have spent my whole career in STEM education and research in academia, industry, as well as government. The New York Academy of Sciences is one of the oldest institutions of its kind in the world. It’s had a tremendous legacy and a lasting impact, so I’m very proud to be part of this organization through being a board member. It’s personal and very meaningful to me.
The New York Academy of Sciences looks to the future and continues to empower the next generation of STEM professionals. As the science and technology landscape rapidly evolves, this is particularly an exciting time to be part of the Academy.
I became a member in 2018 when I was working at the State University of New York (SUNY), and I’ve been familiar with what the Academy does. My former Chancellor at SUNY, Dr. Nancy Zimpher, was a previous member of the Academy’s Board. I learned some about the Academy’s mission through her — she was very enthusiastic about her involvement.
WPI is a STEM university and focuses on enabling not only the future STEM professionals, but also the future STEM leaders. We are very proud to provide distinctive STEM education through project-based learning. Today, over 85 percent of our students can have off-site project experience – they work on real-world problems in real-world settings – at one of our over 50 global project centers. Through this transformative experience, our students learn to be great team players, communicators, problem solvers, and value creators. They are prepared to be future STEM leaders. The Academy’s mission resonates strongly with what we do at WPI.
I am excited about the Science Alliance program. It supports emerging STEM leaders and continues cultivating their passion in STEM fields.
I also like the Academy’s awards programs. They not only recognize star researchers, which of course is important; but beyond that, they also inspire the next generation of scientists and engineers to explore research frontiers and pursue their careers in STEM.
Worcester Polytechnic Institute
The New York Academy of Sciences looks to the future and continues to empower the next generation of STEM professionals. As the science and technology landscape rapidly evolves, this is particularly an exciting time to be part of the Academy.