It's unfortunate that people are downvoting you since outside criticism is a lot more useful than a thread full of people cheering on YCombinator. (Unless you're a troll, as suggested by your user name.) Still, your comment would be more helpful if you were a bit more specific.

Could you point to a few of the University projects you're referring to? I think we'd especially want to know if they require similar levels of investment, since cheap long-shot approaches compliment, rather than are made obsolete by, expensive traditional approaches. (If you think cheaper approaches are hopeless, maybe you could expand.)