Carl Icahn must think that Yahoo will make money. Even for a wealthy billionaire, spending approximately sixty seven million dollars is significant:
Earlier this week, it was announced that Google was diversifying and becoming involved with geothermal exploration as an alternative energy source. Upon closer examination, it is interesting who one of the other investors is:
“…Some deep-pocketed investors — including Google, Paul Allen’s Vulcan Ventures and Kleiner Perkins Caufield & Byers — are big believers in the concept, too. They are among the investors leading a $26.25 million venture round in AltaRock, money that the 14-month-old company will use to test the concept at an undisclosed site next year.”
link: Google, Paul Allen back geothermal startup
This is the same Paul Allen of Microsoft fame. - It seems that, at the top strata of technological millions and billions, there are very few degrees of separation. Perhaps Paul Allen can give the Google guys some pointers in buying a sports franchise or two…
Catherine
Google is diversifying and spending on renewable energy:
“Google is investing $10 million in “enhanced” geothermal systems–essentially technology for tapping underground heat–which it says is one of most promising forms of renewable energy.
Through its philanthropic arm Google.org, the Internet giant will invest in two geothermal technology start-up companies and give a university grant to study the potential of geothermal resources.”
link: Google digs into wallet for geothermal energy
That expenditure may be viewed as a ‘good will expense’, with subsequent tax benefits. Google must know how much time, measured in hours, it takes to generate ten million dollars. If Google was absolutely serious about renewable energy, it would be approaching the investment it put into YouTube. That was $1.65 billion dollars spent on YouTube, with the possibility of turning that investment into a profit center. By comparison, ten million dollars is “pocket change” to Google and an astute public relations expense.
Catherine Forsythe
