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January 29, 2017 10:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/vxHKrcDJZGo/google-earnings-reveal-36-billion-lost-on-moonshots-in-2016
Google Earnings Reveal $3.6 Billion Lost On 'Moonshots' In 2016
Thursday Google revealed earnings results for 2016 showing the total loss for their "other bets" division had reached $3.6 billion. An anonymous reader quotes CNN :The "other bets" portion of its business includes ambitious projects like self-driving cars, life sciences research and high-speed Internet access... Alphabet shuttered a project to beam Internet to rural areas with solar-powered drones, halted the expansion of its costly Google Fiber effort, and forced Nest to cut costs and pay for its own legal and PR expenses. At the same time, the company has moved other moonshot projects closer to market. In December, Alphabet spun off its self-driving car program into a separate company called Waymo and began working on partnerships with automakers. Google's CFO says going forward they'll "continue to calibrate the magnitude and pace of investments".Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/vxHKrcDJZGo/google-earnings-reveal-36-billion-lost-on-moonshots-in-2016
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