Paulson donation to Harvard engineering school (Allston engineering campus across from HBS)

Harvard's contemporary strategy to compete with MIT — Paulson gave $400-600M to strengthen HBS, money routed to the new engineering school across the street, signaling Harvard's recognition that top business schools require engineering proximity.

And MIT had an advantage because Jerry Wiesner was the president of MIT when I was a student. He said that MIT is a university polarized around science, which is true. We don't have everything, but what we have is very good. Most of the Sloan School faculty have never been to business school. I can tell you a story about that. Harvard decided that to be the best business school in the future, you had to be associated with an engineering school. So a donor, Mr. Paulson, gave six hundred million dollars — or four hundred million, I can't remember the number — to Harvard to strengthen their business school. And what did they do? They gave it to the engineering school across the street, and they named it the Paulson School of Engineering. I'm sure there was a little more detail that I don't have. But Harvard is in direct competition now.