CASI Comes to New York: Extending the Conversation Beyond Campus

At the Corporations and Society Initiative (CASI) at Stanford Graduate School of Business, we spend a lot of time exploring big questions about power, accountability, and the role of business in society. Over the years, many GSB alumni have told us that the conversations they experienced as students, whether through CASI, the Public Management Program (PMP), and related initiatives were among the most memorable and meaningful parts of their time at Stanford. Just as often, they told us they wished there were more opportunities to continue those discussions after graduation.

With that in mind, we launched a pilot effort to bring CASI programming directly to alumni communities and to engage audiences beyond the Stanford campus, building on a long-standing Stanford tradition. On May 12, CASI brought together Stanford GSB alumni, former CASI student leaders, PMP alumni, journalists, consultants, lawyers, policy professionals, and members of the broader Stanford community for an evening at The New York Times.

The event featured Pulitzer Prize-winning investigative journalist Walt Bogdanich and investigative reporter Michael Forsythe in conversation with CASI founder and faculty director Professor Anat Admati about their book When McKinsey Comes to Town: The Hidden Influence of the World’s Most Influential Consulting Firm.

Some attendees had participated in the Public Management Program, an initiative inspired by Arjay Miller's belief that business leaders have responsibilities that extend beyond shareholders and financial performance. That legacy remains highly relevant today as leaders confront increasingly complex questions at the intersection of business, government, and society.

Thanks to a generous gift from Sam Yagan (GSB ‘05) and Jessica Yagan (GSB ‘05), Anat and I have begun exploring how CASI can expand its reach across the Stanford community. Our goal is to create a continuum of engagement that stretches from undergraduates and MBA students to alumni around the world, connecting people who are wrestling with questions about leadership, governance, accountability, and institutional trust. The New York event demonstrated both the appetite for these conversations and their relevance beyond the classroom.

Although the discussion centered on McKinsey, it quickly evolved into a broader examination of influence, expertise, and accountability. Bogdanich and Forsythe discussed their reporting on consulting engagements involving Purdue Pharma during the opioid crisis, immigration detention operations, and hospital billing practices. The conversation explored how private advisory firms have become deeply embedded in many of society's most important institutions while remaining largely outside traditional accountability frameworks.

Former CASI Leader Hendrick Townley observed that doctors, lawyers, and bankers all operate within heavily regulated professions, while consultants exercise significant influence across virtually every sector of society with comparatively little oversight. “I was struck by the comparison on regulation in different industries. While doctors, lawyers, and bankers all work within highly regulated professions, consultants are similarly embedded throughout society yet remain largely unregulated.” That comparison resonated throughout the room.

Another theme that generated significant discussion was the role of investigative journalism. Several attendees noted that journalists often serve as one of the few external accountability mechanisms available when consulting firms, corporations, or government agencies operate behind closed doors. Townley reflected after the event: "Journalists are almost the only form of accountability for consulting firms. There are no regulations for consulting firms, and they're so deeply embedded in government that there's little accountability coming from the public sector."

For Anat, these questions connect directly to themes that have long been central to CASI's work. As she often reminds us, harmful outcomes are frequently not isolated mistakes, but predictable consequences of systems shaped by misaligned incentives, weak accountability, loopholes, and concentrated power.

What struck me most about the evening was not simply the quality of the discussion but the sense of community that emerged around it. Alumni from different generations, professions, and political perspectives engaged thoughtfully with difficult questions that rarely have simple answers.

Perhaps the strongest indication that the evening resonated came in the messages that followed. Alumni did not simply share reactions to the discussion; many suggested future topics, offered introductions to potential speakers, and volunteered to help organize future events. As Ruoyao Zhang (GSB '25) wrote, "Excited to see more CASI events! And you know where to find a volunteer if you ever need additional helping hands for the next NYC event."

For me, that captures exactly what we hope to build: a growing community of students, alumni, faculty, and practitioners who continue examining the relationship between business and society long after they leave Stanford.

CASI was created to help students think critically about the role of business in society. As we look ahead, we see an opportunity to extend that mission beyond campus by creating spaces where alumni and members of the broader Stanford community can engage with difficult questions about corporations, government, media, democratic institutions, and the exercise of power.

New York was an important first step. We view it as a pilot—an opportunity to learn, to experiment, and to better understand how CASI can serve alumni communities beyond Stanford's campus. If the enthusiasm and engagement from this event are any indication, there is a strong appetite for thoughtful conversations about accountability, leadership, and the institutions that shape our society.

For CASI, that is both an encouraging sign and an invitation to continue expanding the conversation.