Once something has a predictable ROI (can be productized and sold), profit seekers will find a way. The role of publicly funded research is to get ideas that are not immediately profitable to the stage that investors can take over. Publicly funded research also supports investor-funded R&D by educating their future work force.
The provided examples do not clearly support the idea that industry can compensate for a decrease in government-funded basic research. Bell Labs was the product of government action (antitrust enforcement), not a voluntary creation. The others are R&D (product development) organizations, not research organizations. Of those listed, Xerox PARC is the most significant, but from the profit-seeking perspective it's more of a cautionary tale since it primarily benefited Xerox's competitors. And Hinton seems to have received government support; his backpropagation paper at least credits ONR. As I understand it, the overall deep learning story is that basic research, including government-funded research, laid theoretical groundwork that capital investment was later able to scale commercially once video games drove development of the necessary hardware.
The provided examples do not clearly support the idea that industry can compensate for a decrease in government-funded basic research. Bell Labs was the product of government action (antitrust enforcement), not a voluntary creation. The others are R&D (product development) organizations, not research organizations. Of those listed, Xerox PARC is the most significant, but from the profit-seeking perspective it's more of a cautionary tale since it primarily benefited Xerox's competitors. And Hinton seems to have received government support; his backpropagation paper at least credits ONR. As I understand it, the overall deep learning story is that basic research, including government-funded research, laid theoretical groundwork that capital investment was later able to scale commercially once video games drove development of the necessary hardware.