The media labs debacle
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.
...we are having a problem with unsupervised projects proving a black hole for money. The time has come to shout "stop" and hold our politicians to account. If they can't do the job they should step down and let a group of competent people take over.
The Register
posted by Hurler @ 8:48 pm
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