Alastair Westgart News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Google parent company Alphabet is shutting down Loon, one of its “moonshots,” which aimed to deliver internet service via high-altitude balloons.
In a new blog post, Loon CEO Alastair Westgart confirmed that it’s winding down its nine-year-old Loon project and a two-and-a-half-year-old spinoff company because it can’t find a sustainable business model or willing partners. Loon was originally spun out of Alphabet’s “X” business unit, which is distinct from Google and home to most of its experimental projects.
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“While we’ve found a number of willing partners along the way, we haven’t found a way to get the costs low enough to build a long-term, sustainable business,” said Westgarth. “Developing radical new technology is inherently risky, but that doesn’t make breaking this news any easier. Today, I’m sad to share that Loon will be winding down.” ....

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