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Alphabet's Moonshot X Lab Cuts Staff
Alphabet's lab for pioneering technology is laying off dozens of employees as it turns to outside investors to help fund its ventures. From a report: The division, known as X, has in recent months ramped up discussions on funding with venture capitalists and other investors, according to people with...
From a report: The division, known as X, has in recent months ramped up discussions on funding with venture capitalists and other investors, according to people with knowledge of the matter who asked not to be named as it is private. The lab is adopting a new structure that'll enable its projects to more easily spin out of X as independent startups with support from Alphabet and outside backers, according to one of the people and an email to staff obtained by Bloomberg. X seeks bold approaches to major challenges like climate change and connectivity, but its efforts have yielded few durable businesses thus far.
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