When it's VCs investing private money, on a high risk, high return (to private individuals) that's celebrated. The recipients (aka founders) will mostly lose that "grant" money, and end up with nothing to show for it. Of course the winners produce massive economic gains to the general public.

Alas when the govt follows the exact same model, taking high risk, high reward bets, then it's seen as "wasteful spending". Despite the staggering value of the wins, it becomes better to "spend nothing" than waste a penny on research that goes nowhere.

The levels of cognitive dissonance, not to mention hypocrisy, are truly incredible.

And the charge is being lead by someone who literally made his wealth from this model.