Two of Google’s best-known flights of fancy, Project Loon and Project Wing, are being hatched from their X incubator to become independent businesses under the wing of Alphabet, Google’s holding company.
Loon will work with mobile network operators globally to bring internet access to a market of billions of people currently without high-speed connections.
But today’s rapid pace of innovation and competition is increasing the pressure to turn blue-sky ideas into marketable products and services. No company, not even Alphabet, can afford to bet on every hunch. So X’s aim is to systematize the process of picking winning technologies.
“We are trying to be the card counters of innovation, not the gamblers of innovation,” Teller said.