This is genius. Whenever a company does some fundamental discovery, you can point at some grant they once got for something vaguely adjacent and say "see! quasi-publicly funded!" and your worldview is saved.
The author is correct. It is incredibly simple to trace how public research spending creates scientific advancements and how private companies add on the last 1-3% to commercialize the research.
If you want to learn, go trace how deep learning was funded. It started off with USPS.
It's not vaguely adjacent, the actual foundations of that research were directly publicly funded and wouldn't be possible without it - the author is not talking about how their PageRank algorithm got funded nor money that Google received.