Billionaire Stephen Ross Says New Innovation Center Will Keep Talent From Leaving Detroit

The transcript discusses a new academic center in Detroit, funded by Stephen Ross through philanthropy, aimed at revitalizing the city and retaining local talent. The project is inspired by Cornell Tech's success in New York and targets graduate students in fields like AI and finance. Detroit's tech industry is highlighted, with efforts to attract and retain talent. The city's economic growth and revitalization are emphasized, with a focus on making Detroit an attractive place for businesses and young professionals.

What is the primary source of funding for the new academic center in Detroit?

• City funds

• Student fees

• Philanthropy

• Federal grants

What inspired Stephen Ross to propose the new academic center in Detroit?

• A government initiative

• A personal interest in engineering

• A request from the University of Michigan

• His experience with Cornell Tech in New York

Who are the primary intended students for the new academic center?

• Undergraduates

• High school students

• Graduate students

• International students

What is one of the key goals of the new academic center in Detroit?

• To reduce housing costs

• To expand the auto industry

• To retain local talent

• To increase tourism

How has Detroit's unemployment rate changed in recent years?

• Increased from 8% to 20%

• Decreased from 20% to 8%

• Remained constant at 15%

• Fluctuated between 10% and 15%

Which major companies have recently established a presence in downtown Detroit?

• IBM and Oracle

• Microsoft and Google

• Amazon and Facebook

• Apple and Tesla

What is a significant advantage of Detroit for companies compared to Silicon Valley?

• More venture capital

• Better weather

• Cost-effective housing

• Higher salaries