[t3f]

I agree with where you're going. If you're not familiar with the DoD/Govt Lab TRL Model [1], that is how I mental model this type of "Other Bets" and similar group work.

Catapulting a TRL1-3 concept to product is certainly a moonshot, _but_ they cant afford to take a long comfortable stance to incubate all ideas over an indefinite period of time. The beauty of trying to fund/productize TRL1-3 Moonshots is so many great bits and nuggets fall out of it during the course of maturation that you get to reiterate on.

In my view you are right that they are thinking long term, that they have a positive P/E and still are funding Moonshots along with the safer higher TRL items is encouraging for their investors, that's good long term planning.

[1] https://en.wikipedia.org/wiki/Technology_readiness_level

:edit: Formatting