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upstart writes in with an IRC submission:

Google parent Alphabet to shut down Loon, its internet-beaming balloon project:

Google parent company Alphabet said Thursday that it's shutting down Loon, a project aimed at beaming down internet connectivity from balloons floating in the stratosphere.

The project was born out of X, Alphabet's self-described moonshot factory for experimental projects, which has also developed the company's driverless car and delivery drone services. Alphabet, however, deemed Loon's business model unsustainable and said it couldn't get costs low enough to continue operation.

"The road to commercial viability has proven much longer and riskier than hoped," Astro Teller, who leads X, said in a blog post. "So we've made the difficult decision to close down Loon."

Loon, which debuted in 2013, was spun out of the X division three years ago. The project was meant to serve rural parts of the world that don't have robust broadband infrastructure, serving as flying cellular towers.

Original Submission