Since Ruth Porat came in they've really trimmed any expenditure that doesn't add straight to the bottom line
It's really hard to be a public company and to take big risks like this. The Apollo Program never would have worked as a startup or public company.
I personally had hoped they told analysts that taking large bets for often no financial outcome is just who Alphabet are - but they folded to the Wall St pressure
I am a staunch supporter of the space program, but... the Apollo program also got cut before it had achieved its objectives, and probably never would have made it to the moon at all if Kennedy had lived.
Kennedy was looking to either cancel Apollo (due to skyrocketing costs), or try to get USSR onboard for it (which probably would have caused it to stall). In addition to that, Apollo was extremely unpopular for the entirety of its existence, save for a brief period in the middle of 1969.
The space program's history is very different from what most people imagine it to have been.
I don't think this is a fair characterization of the situation, but my knowledge is mostly based on one book, Reaching for the Moon, a Short History of the Space Race[0], that I recently read.
You're right that Kennedy was ambivalent about it, and that working with the USSR was floated, but ultimately he did decide to go ahead with it. And there were people opposed, but "extremely unpopular" doesn't sound right. Like, I think the majority of the population was broadly in favor.
They do often tell analysts this. I have heard Ruth say countless times that they invest for the long term. This usually buys lots of time but ultimately it does need to show financial outcome. It would be strange to not expect this.
It's really hard to be a public company and to take big risks like this. The Apollo Program never would have worked as a startup or public company.
I personally had hoped they told analysts that taking large bets for often no financial outcome is just who Alphabet are - but they folded to the Wall St pressure