The University of Virginia today opened a new building that will house the nation’s first School of Data Science, bankrolled by business school graduate Jafffray Woodriff. As a kid, he was obsessed with statistics and the ability to make predictions – applying his understanding to sports.
"At the age of 18, after 7 years of studying baseball, I had a profound moment of practicality," he told a crowd of about 200 people who had gathered for the grand opening. "I abandoned baseball statistics and switched my focus to the financial markets, and luckily I had the courage and optimism to bet on myself heavily, over and over, as I plunged into ever deeper debt in my first few years.”
While still an undergraduate at UVA’s school of business, he stayed up for 40 hours, drinking Pepsi and working with 20 computers to develop the trading system used to launch his company – Quantitative Investment Management. It made him a multi-millionaire, and he donated $120 million to UVA for the new School of Data Science.
Governor Glenn Youngkin was also on hand as the university opened the four-story building. He told students that studying there would be their ticket to jobs in many fields.
“Think about the new reams of opportunity for us to glean insights and to seek truth. Think about the opportunity to develop innovative ways to innovate and assess, to determine new medical treatments, new drug discovery.”
He noted on this very day he had joined executives with Google to announce their billion-dollar investment in infrastructure here along with a $75 million fund to support education in artificial intelligence.
Seated with a top executive from Capital One, which gave $2 million for the new school, Youngkin said collaboration with corporations was an essential part of the future for data science. The new building, which has been called a school without walls, features a cushy student lounge dubbed the Corporate Commons.
Thinking loftier thoughts, UVA President Jim Ryan had three hopes for the school’s future.
“The first relates to the whole school without walls things. I confess I was a little surprised and somewhat disappointed when I came here yesterday for a tour and realized it was just a metaphor," he joked. "There are actually walls here – though I have come to appreciate the practical needs for walls.”
He said the school should serve as a home base for the community, the Commonwealth and beyond. And, finally, he urged students and faculty to act ethically, responsibly and with an eye toward how data and data science ccan help and not hurt our communities.
