More like Microsoft wastes more money on R&D that doesn't convert in revolutionary products more than both Apple and Google combined.
We've always known Microsoft spends a lot on R&D and they like to make those "20 years from now" videos, but I haven't seen much come out of it. Last year they even bragged about how they had the idea for the iPhone 20 years ago. But so what? How did that help them? At best it helped them create Windows Mobile and the PDA's 10 years later, but that was a niche market, and Microsoft never had much market share with Windows Mobile in the smartphone market, which was a lot smaller than the current smartphone market back then.
So I guess the moral of the story is that "lab inventions" don't mean much, and you could waste a lot of money on them, and with very little to show for it in the market. I'm pretty sure the $2 billion dollar Kin project was part of that R&D spending, too.