Unpopular opinion, but this was a reasonable outcome from the university. If a researcher makes a great discovery, but can’t get funding to do anything with it, You don’t keep them around not making progress. They got pushed out, found funding, and finally furthered the technology. It is unclear if more scientific progress would have been made if they were kept at penn without funding.
You have summarised the incentives. You've yet to defend them. Presumably the point of research is that it's not commercially viable at this stage; were it, the market would already address this need. Why bother with a university research system which 'lives or dies' just as start ups do? We already have those. It is widely recognised that there needs to be a long (perhaps millenia-long) pipeline of 'unprofitable' re…
It is easy to opine on the amazing value of the amazing technology or the vaccines should have been carried forward with perfect hindsight. This was not obvious to other academics or private markets at the time.
The only way to avoid this with certainty would be to tenure every academic, and publicly fund every project.
> It is widely recognized that there needs to be a long (perhaps millenia-long) pipeline of 'unprofitable' research into commerical outlets. Who thought playing around with wires and magents would lead anywhere?
We do amazing things with wires and magnets. You know because the system worked, just like it did with mRNA vaccines.
Masses of very smart people do their best to assign government grants, and invest private money for returns. If someone can perfectly predict scientific winners and losers, there would be no problem.
Simply funding all "unprofitable" research is not a workable solution. If we did this, every university would have an alchemy department. Making something work is not just a matter of time an money.
I have defended the current incentives. Do you have a workable alternative that doesnt involve future knowledge?