Begin forwarded message:
From: Dewayne Hendricks <dewayne@xxxxxxxxxxxxx>
Date: October 4, 2005 7:26:16 PM EDT
To: Dewayne-Net Technology List <dewayne-net@xxxxxxxxxxxxx>
Subject: [Dewayne-Net] Ireland counts the cost of MIT Media Lab fiasco
Reply-To: dewayne@xxxxxxxxxxxxx
Original URL: <http://www.theregister.co.uk/2005/10/04/
mit_media_lab_ireland/>
Ireland counts the cost of MIT Media Lab fiasco
By Andrew Orlowski in San Francisco (andrew.orlowski at
theregister.co.uk)
Published Tuesday 4th October 2005 22:11 GMT
The Irish government invested $40m of taxpayers'
money in MIT's Media's Lab Europe - and has
bugger all to show for it.
A report by the Republic's public auditor-general
also reveals that Media Lab executives awarded
themselves large severance pay-offs when the
money was running out, and refused to refund
public money as the original agreement had
specified.
Eire's comptroller called the output of the Media
Lab over five years "dismal". The Lab netted only
¤7m in sponsorship and saw just 24 scientific
papers published. In addition, 12 patents filed
by the Lab are worthless. The Lab added nothing
to Ireland's education drive while it went its
merry way, and after liquidation will leave the
Republic with just ¤300,000 in assets.
The European Media Lab was launched at the height
of the tech bubble but closed its doors in
January this year. Its output may disappoint the
Irish government, but it won't surprise anyone
familiar with the original MIT Media Lab.
[snip]
Weblog at: <http://weblog.warpspeed.com>
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