It's pretty easy to disprove statements like "America Lacks Meaningful Innovation" by counterexample. The iPhone. kiva.org. Tesla. SpaceX. Something along the lines of "Much of America's so-called innovation is meaningless" might be more accurate. But any environment that is sufficiently conducive to innovation will produce a lot of meaningless innovation along with the meaningful stuff. Innovation consists of a huge…
So you're saying that if people just keep making photo sharing apps (flickr, facebook, color, instagram)....eventually those people will invent space travel or nuclear fission?
Seriously though, the chap who figures out controlled nuclear fusion will quite likely work out of a physics lab in a University both of which are funded by the ad dollars I you & the rest of humanity spend on facebook.