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Originally Posted by punkworld
You're clueless, at least when it comes to scientific research.
Apart from the fact that you are simply wrong (many research departments of universities with public funding produce extremely valuable results), you seem to be completely unaware of the difference in research carried out by private companies and research carried out by institutions with public funding, such as (many) universities. In short: companies generally only spend money on research which has a fair chance of having a direct application. Researchers in public institutions, on the other hand, also do fundamental research, that is, research aimed simply at gaining basic knowledge, with no immediately visible application. Obviously, applications or derivatives of this research often only emerge later on, as science progresses.
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Every grant we got, we spent half the time filling out paperwork, and half the time setting up for the next grant. That's part of the reason I don't work in that field anymore.
As to how "clueless" I am about it, I guess you'd have to have lived it to know the process .. but you can spout off on an adult webmaster board all you want, without the burden of truth.
You said "companies generally only spend money on research which has a fair chance of having a direct application." If it doesn't have a direct application, why research that line? You don't think that all breakthroughs have had idle time in the lab? Why do you think it's so expensive to produce them? We wouldn't have rubber tires right now if not for mistakes in the lab, and research taking on other directions in the pursuit of a profit.