More from The Verge in Nov https://www.theverge.com/23437518/biden-fcc-gigi-sohn-fox-ne...
Today, we’re just talking about a problem. That problem is the Federal Communications Commission (FCC) is currently short a commissioner, and the Biden administration and Senate Democrats just can’t seem to get that seat filled despite having nominated an amazingly qualified person. Her name is Gigi Sohn. The inability to get Gigi confirmed at the FCC has left the commission deadlocked with two Democrats and two Republicans. That means the commission in charge of regulating all telecom in the United States, including how you get your internet service, is unable to get much done. And the Biden administration can’t accomplish some of its biggest policy priorities, like expanding rural broadband and restoring net neutrality.
Bell Labs invested in research that would bring payoff 20+ years in the future. That's in part because they were a quasi-monopoly. (Also because there was less pressure back then on execs to focus on short-term stock prices.)
It's also because Bell Labs ran a lot on government contracts and grants. The government CAN look 20+ years in the future. And it does.
You can see the same effect in pharma today. Pharma R&D develops drugs that will hit the clinic in the next 5-10 years at most. The true basic research of identifying targets and understanding cancer/Alzheimer's mechanisms to launch future drugs -- that's all funded by the government.