The National Science Foundation funded the original research that became Google: <a href="https://www.nsf.gov/news/origins-google" rel="nofollow">https://www.nsf.gov/news/origins-google</a><p>That grant in the area of <i>library science</i> led directly to one of the most valuable companies on the planet, creating far more value (2.2 trillion is today's market cap) from that one Digital Library Initiative grant to Stanford Professors Hector Garcia-Molina and Terry Winograd (plus a NSF Graduate Student Fellowship that paid for Brin to be at Stanford in the first place) than everything that NSF has spent over it's entire history.<p>This is why funding research is incredibly important, and incredibly unpredictable. No one would have looked at the DLI in 1994 and said "Ah yes, this one is the big payoff!" But it was.<p>Basic research is like VC funding, it's a portfolio with a huge amount of misses (in the sense that the research doesn't change the world), but the winners pay off for all Americans and everyone in the world far more than the losers cost. And, unlike VC's and start-ups, basic research has less investment than is socially optimal, because most of the payoffs are far more diffuse and are much harder to capture inside a company that returns profit to investors (the Google example is unusual in how direct the link was between the research and the company). Which is why the NSF (and other agencies like DARPA, NIH, etc.) were created, to fill a hole that exists in a pure market.<p>This really feels more and more every day like <a href="https://en.wikipedia.org/wiki/Asset_stripping" rel="nofollow">https://en.wikipedia.org/wiki/Asset_stripping</a>