Into this ominous picture has come some light. Indeed, much has been made of and reported recently about the enormous sums being invested by philanthropists into science, medical and technological research. Microsoft co-founder Paul Allen has contributed $500 million to establish a brain science institute in Seattle. Eric Schmidt, executive chairman of Google, and his wife Wendy have allocated some $100 million of their fortune to fund the Schmidt Ocean Institute for the marine sciences. Philanthropist and entrepreneur Eli Broad donated $700 million for a joint venture between Harvard and the MIT to explore the genetic basis of disease. These and many other entrepreneurial donors are taking the risks on basic research that were the hallmark of government for decades.

via Federal Investment in Research Still Essential | Dr. Samuel L. Stanley, Jr..