May 23, 2017

Analysts believe Waymo could be worth $70 billion

Courtesy of Waymo

A pair of Morgan Stanley analysts believe Waymo, Alphabet's self-driving car unit, would be worth $70 billion (roughly the same at Uber's current private valuation) if it were to spin out of its parent company, according to an analyst note first spotted by Business Insider.

The reasoning: Waymo's recent partnership with ride-hailing company Lyft will likely help the company rack up more miles driven by its self-driving cars, according to analysts Brian Nowak and Adam Jonas, providing Waymo with more data to improve its technology. Spinning it out could also isolate Alphabet from regulatory challenges (including liability and ethics) faced by the self-driving car industry, leaving it all to Waymo to navigate.

Bigger picture: Waymo is part of what Alphabet considers its "Other Bets"—its experimental units outside of Google. The latter includes Android and YouTube as well, and continues to be the company's revenue engine. However, these Other Bets are getting increasing pressure (especially since the hiring of CFO Ruth Porat) to find ways to make money and reign in their spending. Spinning out Waymo could serve as a first test for Alphabet's Other Bets and their viability as stand alone businesses.

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Joe Biden places second in Nevada caucuses, ahead of Pete Buttigieg

Democratic presidential candidate and former Vice President Joe Biden a Nevada Caucus watch party in Las Vegas on Saturday. Photo: Ronda Churchill/AFP via Getty Images

Former Vice President Joe Biden secured second place in the Nevada Democratic caucuses with former Southbend Mayor Pete Buttigieg third, according to NBC News projections Sunday.

By the numbers: With almost 88% of precincts reporting, Biden has 20.9% of the Nevada votes and Buttigieg has 13.6%.

Flashback: Bernie Sanders wins Nevada caucuses

Editor's note: This is a developing news story. Please check back for updates.

Sanders reveals free childcare plan for preschoolers

Democratic presidential candidate Sen. Bernie Sanders speaks during a campaign rally on Saturday in El Paso, Texas. Photo: Cengiz Yar/Getty Images

Democratic presidential candidate Sen. Bernie Sanders announced on CBS' "60 Minutes" Sunday a new plan to guarantee free child care and pre-kindergarten to all American children from infancy to age four.

Details: In the wide-ranging interview, Sanders told Anderson Cooper he planned to pay for universal childcare with a wealth tax. "It's taxes on billionaires," he said.

Exclusive: Trump's "Deep State" hit list

Illustration: Aïda Amer/Axios. Photos: WPA Pool/Getty Pool, Drew Angerer/Getty Staff

The Trump White House and its allies, over the past 18 months, assembled detailed lists of disloyal government officials to oust — and trusted pro-Trump people to replace them — according to more than a dozen sources familiar with the effort who spoke to Axios.

Driving the news: By the time President Trump instructed his 29-year-old former body man and new head of presidential personnel to rid his government of anti-Trump officials, he'd gathered reams of material to support his suspicions.