Alphabet spent more than $1.3 billion last quarter on ‘other bets’ like Loon and Waymo
Google parent company Alphabet continues to invest heavily in its quest to figure out the future. In its most recent quarterly earnings report, the company said it incurred a more than $1.3 billion operating loss in its “Other Bets” category, the collection of divisions that includes its experimental X lab, its internet group Access, its LTE balloon initiative Loon, its drone delivery project Wing, and its self-driving car unit Waymo, among other groups focused on health sciences and investment.
It’s not immediately clear where a majority of those losses are coming from. Now that Loon, Waymo, and Wing are all separate businesses that have been spun out of X, costs for each of those companies may be increasing in the short-term as…
