Virtual Effects of Physics Beyond the Standard Model

We examine the indirect effects of new physics on a variety of processes in the $B$ system, such as the $Z\to b\bar b$ vertex, the decays $B\to X_s \gamma$ and $B\to X_s\ell^+\ell^-$, and CP violation. {Presented at the 4th International Conference on Physics Beyond the Standard Model, Lake Tahoe, CA, December 13-18, 1994}