[Steko]

> "Other Bets" includes Nest, Google Fiber, Google Ventures, and Verily among others(2)

The fact that most of those things aren't huge money losers undercuts your argument though. Nest is making money. Google Ventures is $300 million a year, Fiber invested $100 million in KC in 2013, meanwhile this segment was $3.6 billion in the red last year.

[smitherfield]

Yes, but they could* be taking write-downs on their investments in e.g. Nest.

*I haven't looked at their financial statements.