Sorry it should have been private R&D investment. I'm saying that there is evidence that suggests that public grants to R&D crowd out private investment, that public R&D doesn't correlate with GDP growth, that private R&D does and that grants are inferior to market approaches such as tax breaks for R&D. I think that video I linked overstates the strength of the evidence and it's conclusiveness but it's still a valid point and goes against the accepted view. Also the argument that the Internet is here only because of public R&D is very hard to make because at every instance I've looked at where public R&D gets credited (eg. CERN) there is similar work done separately in the private sector (eg. Xerox PARC). I'm not saying that the evidence is definitive, that all public science funding doesn't generate GDP growth, that GDP growth is a good metric of the value created by public R&D or that public funding is inferior to private, those are all empirical questions (or even unanswerable/subjective) and can't be generalized. I'm just saying that the position you seem to take - without public funding it wouldn't get done - isn't true both historically (eg. check out Nobel prizes from IBM and Bell labs in pure research) and you can make a theoretical argument why that is the case.

As for the authors post, yeah it's a rant but I get where he's coming from.

If you reduce subsidies for wasteful signalling, people will do less of it. Employers will then find signal based discrimination more difficult and expensive, and will reduce their dependence on it.