In a rare public appearance, Google co-founder and Alphabet Inc. CEO Larry Page on Monday (November 2) explained why he was spurred to create a whole new structure for the company he created with Sergey Brin almost two decades ago.
Page said the new company would operate a little bit like a venture capital firm, a little bit like Berkshire Hathaway Inc., the conglomerate controlled by billionaire investor Warren Buffett, whom page admires.
At Monday’s event he touted project loon, an effort to deliver internet service from connected air balloons. Google announced last week loon will begin tests of its service in Indonesia as early as next year.
Aside from Google, alphabet’s other businesses include Google x, connected home products maker nest, venture capital arm Google ventures and Google capital, which invests in larger tech companies.
(Eagle News International)