As Google’s revenue grows 12 percent, Page says he’d love to spend more on moonshots


Google (S GOOG) under co-founder Larry Page has become known for its crazy moonshot projects: Self-driving cars, Google Glass, and Project Loon: the internet relayed by helium balloons. But Page, who became the company’s CEO in early 2011, said during the company’s Q3 earnings call Thursday that the company — and the tech industry in general — still is spending way too little on these kinds of projects.

“My struggle in general is to get people to spend money on long-term R&D,” he said. Page specifically referenced Calico, the company’s recently-announced project to help people to live longer though medical breakthroughs, saying that while Google was spending some serious money on Calico, that amount was “not significant” for the company as a whole.

He went on to complain that most other companies spend very little on experimental research: “Even companies with big budgets, 99 percent gets spent on incremental…

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