When you think of Google you probably think of the search engine, Gemini, your Android Phone, if you use one, or green text bubbles, if you don't.
It's pretty ubiquitous.
But what you might not know is that Google, or more specifically its parent company Alphabet, devotes a line in its earnings reports to the big bets it makes that may or may not pay off.
It's called 'Other Bets'.
It can be kind of secretive. But it offers a glimpse at where Alphabet thinks the world could be going, and wants to have a stake in.
Let's take a look.
Calico was launched with a goal of taking on ageing and its associated diseases. It says it combines the best of biotechnology companies and academic institutions to further its mission. So far it's produced drugs that have made it to trials.
This is Alphabet's investment fund where it uses its expertise to invest in growth-stage companies. The company says it makes investments of between $50 and $200 million in each company, leading to 16 IPOs (including Spaceship Voyager picks Crowdstrike, Databricks, and Duolingo).
This is Alphabet's high-speed internet service for select US cities. It's less exciting than Google's other Other Bets, sure, but it also enables the internet connectivity they need to expand their markets.
This is another of Alphabet's venture capital arms, but this one says it deals in decades, not rounds. Alphabet says it ventured into venture capital to help founders take on the biggest challenges.
Verily used to be known as Google Life Sciences. It's Alphabet's healthcare bet, which is currently focused on using AI to personalise healthcare products and research. Verily has a Verily Me app, launching soon, which connects patients with healthcare providers and AI support.
Arguably Alphabet's highest profile Other Bet, it started life as the Google self-driving car project in 2009. Waymo says that globally, 1.19 million lives are lost each year due to vehicle crashes, which is why its mission is to 'be the world's most trusted driver.'
Waymo's self-driving vehicles are used as robotaxis that transport passengers around US cities. They have plans to expand globally, including to London and Tokyo, by the end of 2026.
Wing is where Alphabet gets its drone on. (Get it? Wing? Fly?) Wing is a drone delivery product advertised to deliver food and groceries in as little as 30 minutes. It's partnered with huge companies such as Walmart and Doordash, and can fly healthcare samples between locations to speed up transport.
Wing needs launchpads for its drones, which have a 6 mile (9.5km) one-way range, so it's offering to pay landlords for space and create revenue streams out of unused property, too.
This is Alphabet's 'Moonshot' factory. It brings sci-fi ideas into reality, starting with the self-driving car, and moving onto using light beams to deliver internet (Project Taara), using AI to forecast natural disasters (Project Bellwether), and removing CO2 from the air (Project 280 Earth).
"Why are you telling me this, Spaceship?"
Not all of these bets will pay off. But Alphabet's appetite for building the future means there's a fair chance it will be at the forefront, and investing in it with the Spaceship Voyager portfolios means it can take us along for the ride, too.
Some of the Spaceship Voyager portfolios invest in Alphabet at the time of writing.
