[cromwellian]

That's an unsupportable blanket claim. Such research approaches have paid off in the past. Take IBM:

Invented: * DES * Hard Disks * DRAM * RISC * Relational Database * Laser Eye Surgery * Barcodes * PC

Apple shareholders apparently care, because the company is currently being valued as if there are no more disruptive breakthroughs that will produce significant growth in its bottom line.

Also, to say Bell Labs didn't cash out is to be charitable. Ma Bell dominated for decades before the government broke them up. Did they fail because of failure to cash out on inventions, or because Bell Labs was split off from the parent company that was funding them.

Also, if you suggest the government fund it, then maybe the government tax Apple's cash, I wonder how their shareholders will like that?