Broker of the Week Oanda - Read Full Review

Free Top Brokers Comparison Service

HELP ME CHOOSE START QUIZ

Alphabet shutting down Loon, its project to beam internet from balloons

[ad_1]

Alphabet Inc. is scrapping its nine-year-old project to use high-altitude balloons to deliver internet access to remote areas.

In a blog post Thursday, Alastair Westgarth, CEO of Alphabet’s Project Loon, said: “We haven’t found a way to get the costs low enough to build a long-term, sustainable business. … Today, I’m sad to share that Loon will be winding down.”

Loon was part of Alphabet’s
GOOGL,
+0.22%

GOOG,
+0.23%
“X” business unit, which experiments with moonshot projects. Two other X units — Makani, which used kites to generate wind energy, and Foghorn, a project to create clean fuel from ocean water — have also been abandoned in recent years.

Westgarth said the cost of delivering internet service with existing technology to the most remote places “is just too expensive for everyday people,” adding “we haven’t found a way to get the costs low enough to build a long-term, sustainable business.”

Loon launched its first commercial service last summer in Kenya.

In a separate blog post Thursday, X chief Astro Teller said that while Loon is going away, it will give $10 million to support nonprofits and businesses focused on “connectivity, internet, entrepreneurship and education in Kenya.”

[ad_2]

Source link

We will be happy to hear your thoughts

      Leave a reply

      Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

      Advertiser Disclosure: Brokerspilot.com helps investors across the globe by spending over hours each month testing and researching online brokers.

      How do we make money? Our partners compensate us through paid advertising.

      While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site.

      Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

      Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective.

      While Brokerspilot.com has some data verified by industry participants, it can vary from time to time.

      Operating as an online business, this site may be compensated through third-party advertisers.

      Our receipt of such compensation shall not be construed as an endorsement or recommendation by Brokerspilot.com, nor shall it bias our reviews, analysis, and opinions.

      en_USEnglish
      Best Forex Brokers Reviews
      Logo
      Reset Password
      Compare items
      • Total (0)
      Compare
      0