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That's the entire domain of engineering, isn't it?

It's as essential to actual deliverable products and inventions as the basic research is.

As long as there is a wealth of knowledge coming out of academic research, what's wrong with that approach? I'm not saying that is what Google X is doing, it sounds like they are pursuing their own academic interests as well, but if all they did was cultivate the research of others and utilize it in ways that have not been fully explored, that seems like a solid strategy. Instead of languishing in academic journals, let's put those ideas to the test.

It did cross my mind that perhaps they should consider longer carbon nanotubes as a Google X project rather than waiting on someone else to do it for them. I imagine there are plenty of areas other than space elevators where they would be useful.

My thought exactly. As an end-goal, space elevators are still science fiction even if you have the materials because the construction would still require a bunch of other technologies.

While better physical materials can be immediately applied to terrestrial problems.