Description: The trial ballon is coming down. Alphabet’s Loon project of delivering the internet to far-flung areas via technology carried by massive balloons is ending. In the end, the costs were too high and the project was judged as unsustainable.

Date:  January 21, 2021

Source:  cnet.com

 Link: https://www.cnet.com/news/google-parent-company-shutting-down-loon-its-internet-beaming-balloon-project/

Discussion points:

1) Were you aware of the Loon project or of any other Google “moonshots?”

2) Have you ever had a “moonshot” idea you would like to try? If you are in the classroom – virtually or otherwise – turn this into a bit of a discussion.

3) In Wiley’s Financial Accounting: Tools for Business Decision-Making, Illustration 9.13 and the accompanying section tells us something about how companies deal with assets that are no longer worth what they cost. What do we call this type of loss in accounting terms?