28th July 2011
Mayor Michael Bloomberg is firing a shot across the bow of Silicon Valley, saying he wants New York City to surpass the California region as the world capital of technology startup.
Bloomberg says the city plans to offer nearly-free real estate and up to $100 million in infrastructure upgrades to a university that commits to creating a world-class science and engineering campus.
In the Good Old Days, rich people funded their own utopian ideas — if you were into education, you gave your own money to accomplish that, and we wound up with places like Carnegie-Mellon and Stanford. The modern path is to use part of your riches to get elected to public office, where you can impose your vision on society at taxpayer expense.