Google's parent company Alphabet (GOOG) is scaling back its support for money-losing “moonshot” ventures that had little to do with its core search advertising business, as the company's chief financial officer, Ruth Porat, reins in costs.
According to media reports, the Mountain View, Calif.-based tech giant recently pulled the plug on Titan Aerospace, a maker of solar-powered drones, which it acquired in 2014. Management told the business' employees to look for other jobs in the company.
Read Full Article »