Remember, $5M goes longer in China, more if Stanford has local partners which is most likely; you can hire more researchers for that sum in China than in the US.
More over, many US universities are going abroad since the global improvements in educational standards (especially in Asia) is giving schools a run for their money! So a presence overseas has become a basic tenet for many US top schools.
Well, we in the Silicon Valley came to know about this from a completely different context -that of Stanford'd decision not to go forward with this. Apparently Stanford had proposed a $2.5 billion campus on Roosevelt Island to be built over 30 years which is way too long in my opinion:
It clearly should be targeted for higher general education rather than "tech". It would be too late to address the situation for the next five years.
Also, they should build the bridges to Roosevelt Island from Manhattan and Queens to enable more convenient access.
Feeney got rich taking advantage of tax arbitrage, not by creating anything. Worse yet, the reason his business jumped out in front of the competition was that his firm DFS, was given exclusive rights over duty-free in Hawaii, allowing him to milk rich Japanese to the max.
So go ahead. Cheer capitalism...but not in this case.
This is an overall $2 billion project for Technion and Cornell and will take time to complete; NYC is providing the land and up to $100 million in infrastructure improvements. It's a win-win situation for both universities.