[EthanHeilman]

Academia and industry both have filtering problems, how to tell good ideas from bad ideas.

The industry solution tends to be to try things and see what works in practice. This is extremely expensive in time and only a small number of ideas can be tried. Furthermore the success or failure depends on the execution and marketing. If Bitcoin had not had the developer commitment in the early stage it would be dead and forgotten despite the great ideas.

The academic solution is that ideas should come with detailed arguments about why the solution works, what its flaws are and how it compares to other work. This allows ideas to be compared and judged more quickly at a lower expense. However constructing these arguments is hard, requires rare knowledge and is not always possible.

Academics dismissed Bitcoin because it did not have these arguments. They had no way to know if it would work when it was running with real money on the line. Distributed systems ideas are very hard to get right and Bitcoin had all sorts quirks that Satoshi didn't foresee, however PoW turns out to be a very robust mechanism.