Alphabet shelves internet balloon project; Doesn't consider it a failure
Loon was a project under X, a subsidiary of Alphabet Inc., dedicated to exploring possibilities deemed too risky or unviable. The project became a separate company in 2018. Loon had intended to bring high-speed mobile internet access to the remotest parts of the world using balloons in the upper atmosphere. The project is now being shelved as a sustainable business model couldn't be developed.