alt Hacker NewsI’ll note at the end of the last century I worked at IBM research which had a budget of 6 Billion dollars. Management was trying very hard to get better return on that investment. Even today IBM though often ridiculed in the tech space (sometimes they do deserve it) spends a lot on R&D.
Lucent at the same time went through the same issue: how to monetise Bell Labs.
Bell Labs greatest work came out when AT&T was a monopoly. Once they were broken up (1984?) they started feeling the pain.
When the Lucent spinoff took place, the new entities had no Monopoly money to fund unconstrained research while management's behaviour never changed.
I don't know how BL fared under Alcatel and now Nokia, but haven't heard of anything interesting for years.