Here's an example of the publicly funded innovation I wrote about: https://www.youtube.com/watch?v=gE4hLH2aocE&t=252s

It's the investor presentation of Humacyte, human tissue regeneration mfd at scale. The first $30-40m in high risk early stage funding came from the NIH. They also raised $480m from private investors. But it was the NIH funding that was key. This is the usual process: govt takes the biggest risk and gets no upside. That's socialism for VCs, SPAC promoters and IPO investment bankers. Your iPhone is loaded with govt-funded military tech. But Apple has never paid a penny in royalties to the taxpayers that funded its tech. Same for FB, GOOG, AMZN, TWTR, UBER....the list is very long.