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DAVID TEECE:ROCK STAROF BUSINESSBy John MacDonaldProfessor David TeecePhoto courtesy of The New Zealand Herald.David Teece has reportedly been labelled“an economics rock star”. Appropriate,perhaps, for someone who joined thelikes of heavy metal band Metallica in themusic industry’s battle with the Napsterinternet music-sharing scheme.The likening to a rock star is somewhatincongruous, though, when Teece talksabout his place on the world’s economicsstage. There’s not a lot of swagger andno hint of arrogance.For example, becoming a professor at theUniversity of California, Berkeley, by theage of 34 was not something he set outto achieve.“When I left Canterbury, my plan was toobtain a PhD in economics from a worldclassoverseas university in the UK orNorth America.“I certainly didn’t think I was goodenough to get a professorship at a topAmerican university.”Yet, just 11 years after graduating from UC,he was Professor Teece at Berkeley and onthe road to becoming one of the world’s“Top 50 Living Business Intellectuals” andthe 10 th most cited scholar worldwide ineconomics, business and finance.He has remained at Berkeley andis currently Professor of BusinessAdministration at the Walter A. HaasSchool of Business, holder of theMitsubishi Bank Chair in InternationalBusiness and Finance, and Director ofthe Institute of Management, Innovationand Organisation.Among his numerous off-campus interestsare his chairmanship of the Law andEconomics Consulting Group (LECG), aprestigious international economic andfinancial consulting firm he co-foundedin 1988; and his role as a director ofCanterbury New Zealand Ltd.He also provides advice to the legalfraternity.One of the high profile cases he has beeninvolved in was the action by the recordingindustry against the Napster internetmusic-sharing scheme.The Recording Industry Association ofAmerica alleged that Napster’s technology,which allowed users to share musicstored as MP3 files, was a major violationof copyright.The action involved 17 recordingcompanies, with the support of severalmajor recording artists such as Metallicaand rapper Dr Dre, and led to the servicebeing shut down by a court order.With such variety in his work, Teecedescribes himself as an economist,entrepreneur and consultant, dependingon what he is doing.He says it reflects current attitudes.32 Canterbury Magazine