One aspect I would pick up on is the availability of low cost warehouse style office space something that is still shockingly expensive in Ireland no matter where you go to look for it. Part of that is the result of we not having a previous manufacturing base that left hollowed out shells of buildings. Of course the people in Stanford didn’t really need to worry about heating that much but the fact is that it is more profitable to leave much space lie empty that lease it out.
Also, the point of FDI was to use it as a boost to the economy while we were supposed to be spending the money in ramping the economy up for the move to the model you suggest, much like some doing overtime or working in a crap job while they went to night school or saved to pay for an expensive course. Instead I would contend that the government has squandered all the money we the people earned on the societal equivalent of plasma screens and PS3’s.