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As a component of this restructuring initiative, X is laying off numerous employees, with a primary focus on those in support roles. Alphabet has not officially commented on the layoffs.

Alphabet's Moonshot X Lab initiates layoffs, shifts to external investors for funding

As a component of this restructuring initiative, X is laying off numerous employees, with a primary focus on those in support roles. Alphabet has not officially commented on the layoffs.

Alphabet Inc.'s Moonshot X Lab, renowned for its innovative projects, is undergoing a significant transformation that includes layoffs as it turns to external investors for financial support. The division, known as X, has been engaging in discussions with venture capitalists and other investors to secure funding for its ventures. This shift is part of a broader restructuring plan aimed at enabling X's projects to emerge as independent startups with support from Alphabet and external backers.
Astro Teller, the leader of the lab, shared details of the changes with staff in an email, stating, "We're expanding our approach to focus on spinning out more projects as independent companies funded through market-based capital." Teller emphasized collaboration with a broader base of industry and financial partners, underscoring the need for lean teams and capital efficiency.
As part of this restructuring, X is letting go of dozens of employees, primarily those in support roles. The layoffs have not been officially addressed by Alphabet.
X, spearheaded by Google co-founders Larry Page and Sergey Brin, has been recognized for its ambitious projects, ranging from self-driving cars to high-altitude balloons providing internet connectivity to remote areas. However, the lab has faced challenges in translating these speculative ventures into profitable businesses, leading to the necessity for a strategic shift.
Alphabet's CFO, Ruth Porat, who is taking on the role of president and chief investment officer, will now oversee divisions that include X, aiming to instill greater financial discipline. The move to seek external funding and the subsequent layoffs reflect a dynamic shift in X's strategy to navigate industry-wide challenges, particularly in the realm of innovation.
In addition to exploring venture capital, X has sought funding from family offices, sovereign wealth funds, private equity firms, and strategic investors aligned with the industries targeted by its moonshot projects. Amid layoffs and budget cuts in Silicon Valley's innovation labs, X's restructuring underscores a proactive approach to address the evolving landscape.
"This approach will give us more opportunity to focus on what Xers do best: inventing breakthrough technologies to help solve some of the world's most pressing challenges," noted Teller in the staff communication. "Because the world needs moonshots more now than ever." Also Watch: <a href="https://www.editorji.com/business-news/google-layoffs-unhappy-over-mass-layoffs-google-employees-plan-protests-1705928281846">Google layoffs: Unhappy over mass layoffs, Google employees plan protests</a>

In the first video demo, Google's chatbot bard gave an incorrect answer to a question about new discoveries made through the James Webb Space Telescope. This mistake led to the shares of Alphabet plummeting. 

Google's AI chatbot's mistake costs Alphabet $100 billion in market cap 

In the first video demo, Google's chatbot bard gave an incorrect answer to a question about new discoveries made through the James Webb Space Telescope. This mistake led to the shares of Alphabet plummeting.&nbsp;

The latest battle on wall street, is the battle of artificial intelligence. After chatGPT backed by Microsoft, was launched, Google is now set to launch its own chatbot called Bard.&nbsp; Chatbot Bard it seems, has gotten off to a rocky start, one that cost its parent company $100 billion in market capitalisation. As per reports, in the first video demo of the product, an animation shared by Google showed Bard answering a question about new discoveries made through the James Webb Space Telescope. The answer said that the telescope "took the very first pictures of a planet outside of our own solar system'', or exoplanet.&nbsp; However, astronomer said that this was incorrect.&nbsp; NASA in fact, confirmed that the first pictures of exoplanets were taken by the European Southern Observatory&rsquo;s Very Large Telescope (VLT) back in 2004. Meanwhile, just a day before Google&rsquo;s presentation, Microsoft unveiled a new version of its Bing search engine with ChatGPT functions integrated.&nbsp;
Gil Luria, senior software analyst at DA Davidson told Reuters that "Google has been scrambling over the last few weeks to catch up on Search and that caused the announcement to be rushed and the embarrassing mess up of posting a wrong answer during their demo.&rdquo; Shares of Alphabet closed around 8% lower on Wednesday, resulting in an erosion of $100 billion in market cap.&nbsp;
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Google parent Alphabet to cut jobs globally: Reports
Google to cut 12,000 jobs, 6% total workforce: Reports
Take full responsibility for the decision: Sundar Pichai

Google parent Alphabet to cut jobs globally: Reports

Google parent Alphabet to cut jobs globally: Reports
Google to cut 12,000 jobs, 6% total workforce: Reports
Take full responsibility for the decision: Sundar Pichai

Google's parent company Alphabet announced about 12,000 job cuts globally on Friday, becoming the latest US tech giant to enact large-scale restructuring.
"We've decided to reduce our workforce by approximately 12,000 roles," Alphabet CEO Sundar Pichai said in an email to employees, adding that the cuts were in response to a changing "economic reality".
The move comes a day after Microsoft said it would reduce staff numbers by 10,000 in the coming months, following similar layoffs by Facebook owner Meta, Amazon and Twitter as the previously unassailable tech sector faces a major economic downturn.

Hong Kong's chief executive John Lee said that it was a matter of companies acting responsibly and respecting a national anthem in the global context.

Google vs China over Hong Kong? Officials want search results to not show protest song as anthem

Hong Kong's chief executive John Lee said that it was a matter of companies acting responsibly and respecting a national anthem in the global context.

A face-off appears to be brewing between Google and China over search results for the Hong Kong anthem.
Hong Kong's leader said on 13 December 2022 that he will push Google to show the Chinese national anthem instead of a protest song, when people search for Hong Kong's anthem.
In recent years, Hong Kong has seen fierce protests against increasing Chinese control and erosion of democratic freedoms.
Also watch: <a href="https://www.editorji.com/world-news/hong-kong-catholic-cardinal-and-5-others-convicted-for-fund-mismanagement-1669372787780">Hong Kong: Catholic cardinal and 5 others convicted for fund mismanagement</a>
Hong Kong's chief executive John Lee said that it was a matter of companies acting responsibly and respecting a national anthem in the global context.
Lee's comments followed several big sporting events &mdash; including a rugby tournament in South Korea and powerlifting event in Dubai &mdash; where the pro-democracy protest song 'Glory to Hong Kong' was played as the city's anthem instead of the Chinese national anthem 'March of the Volunteers'.
(With PTI inputs)

Google reported earnings well above Wall Street estimates as the search-and-services company posted revenues of $61.9 billion in the April-June quarter.&nbsp;The big surge came in from advertising&nbsp;Google ad revenue increased to $50.44 billion, up 69% from the year-ago quarter. Analysts also took note of YouTube gaining&nbsp;traction as revenues clocked in at $7 billion just shy of equalising with OTT&nbsp;platform Netflix at $7.4 billion.&nbsp;YouTube&nbsp;also disclosed that its YouTube Shorts product has &ldquo;surpassed 15 billion global daily views,&rdquo; up 131% from the 6.5 billion global daily views that it detailed in March.&nbsp;Read/Watch Also: Apple earnings soar but stock takes a hit as worries riseMeanwhile Google Chief Sundar&nbsp;Pichai&nbsp;took a moment in the earnings call to encourage everyone to get a jab.&nbsp;As the pandemic evolves, we want to help people get the information they need to keep themselves and their families safe,&rdquo; Pichai said. &ldquo;I really encourage everyone to get the vaccine when it&rsquo;s available to you.&rdquo;Read/Watch Also: Masks back on in the US as cases soar

Google earnings soar: YouTube matches Netflix & advertising sales soar 70%, Pichai pitches for vaccines

Google earnings soar: YouTube matches Netflix&nbsp;revenues, while advertising sales soar 70%. Google Chief Sundar&nbsp;Pichai pitches for vaccination as cases rise in the US.&nbsp;

Google earnings soar

Search giant Google's&nbsp;parent firm Alphabet crushed analyst estimates for earnings as revenues from advertising surges.&nbsp;

Google reported earnings well above Wall Street estimates as the search-and-services company posted revenues of $61.9 billion in the April-June quarter.&nbsp; The big surge came in from advertising&nbsp;Google ad revenue increased to $50.44 billion, up 69% from the year-ago quarter. Analysts also took note of YouTube gaining&nbsp;traction as revenues clocked in at $7 billion just shy of equalising with OTT&nbsp;platform Netflix at $7.4 billion.&nbsp;YouTube&nbsp;also disclosed that its YouTube Shorts product has &ldquo;surpassed 15 billion global daily views,&rdquo; up 131% from the 6.5 billion global daily views that it detailed in March.&nbsp; Also watch: Apple earnings soar but stock takes a hit as worries rise Meanwhile Google Chief Sundar&nbsp;Pichai&nbsp;took a moment in the earnings call to encourage everyone to get a jab.&nbsp;As the pandemic evolves, we want to help people get the information they need to keep themselves and their families safe,&rdquo; Pichai said. &ldquo;I really encourage everyone to get the vaccine when it&rsquo;s available to you.&rdquo; Read/Watch Also: Masks back on in the US as cases soar

Reports say that European Union legislators have invited chief executives from Amazon, Apple, Alphabet and Facebook to a hearing in Brussels.

Reports: EU lawmakers invite Big Tech CEOs for hearing on Feb 1

Reports say that European Union legislators have invited chief executives from Amazon, Apple, Alphabet and Facebook to a hearing in Brussels. Set for February 1, the hearing reportedly comes as a part of a crack down on the powers of large US tech companies. According to reports, the European Commission is gearing up to force big tech firms to play fairly with rivals, and do more to combat misinformation and harmful content on their platforms.

Alphabet's self-driving car company, Waymo is expanding its business model by selling its Lidar sensor technology to outside firms. Waymo's Lidar sensors enable self-driving cars to create a 3D map of its surrounding environment and can be applied to various industries likes robotics, security and agriculture. However according to various reports, Waymo will only sell their licensed technology to third parties that don't compete with the company's autonomous ride-sharing services.

Alphabet's self-driving car company, Waymo is expanding its business model by selling its Lidar sensor technology to outside firms. Waymo's Lidar sensors enable self-driving cars to create a 3D map of its surrounding environment and can be applied to various industries likes robotics, security and agriculture. However according to various reports, Waymo will only sell their licensed technology to third parties that don't compete with the company's autonomous ride-sharing services.

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