Earlier quoted context omitted.
Moreover, Bell Labs' position as part of a state-regulated monopoly meant that the research created at Bell Labs was publically available. For instance, UNIX was given away, since Bell was prohibited from selling it. I doubt that Google's research will have the same public benefit; it seems much more likely that Google will keep it for themselves.
My developing theory is that monopolies can be great for innovation. What do ATT, Google, Xerox, and the old HP have on common? They are/were, if not outright monopolies, insulated from competition by virtue of network effects, brand or trademark monopolies, or simply a lack of competent competition. They weren't like the Acers of world, in highly competitive markets, struggling to make 1-2% profits on their revenues…
Re: Google is the new Bell Labs
#81What do ATT, Google, Xerox, and the old HP have on common? - They wer innovative market leaders of there time. They invested further in monetizing their successful business models. ATT&T has managed to continue to be a big player in telecoms and Google, much younger than the others is still incredibly relevant. But being a monopoly does not encourage innovation, although it can provide the financing. being a monopoly instead incentives protectionist behaviour to maintain the status quo 'cash cow'. Eventually however, unless protected by government intervention, monopolies fall or shift to new entrants. The only way to combat that is to look to the future and try and ride the next wave. Google's support of investing in 'moonshots' is really necessary to ensure they stay relevant, otherwise at some point they will become irrelevant.