[kolbe]

I didn't ask for potential reasons. You're talking about the "reasons" for a "gradual transition," and I am telling you that this investment isn't transitioning anything. Everyone is keeping their equal share of the company. So, I don't understand why you are giving reasons for something that isn't currently happening.

[infecto]

I think the words are going over your head sorry. I will try one more time but realize now it might be too much especially see some of your dead comments here.

I am not claiming a transition is happening in this round, so asking for evidence of one misses the point. Transition here means enabling future shifts in who owns and operates the capex, not changing the cap table today. If Alphabet wanted permanent full-stack ownership, an entirely internal recap would have been cleaner. Bringing in outside capital, even minority, is about signaling and optionality, not dilution.

[kolbe]

I understand everything you have said. The D-K of you WSB transplants is wildly frustrating.

If you'll notice, all I am doing is asking the brigade of snarky know-nothings to stop talking. I'm not pretentiously claiming to know, unlike all of you. You clearly aren't in any position to understand the internal working of Google, and it's unfortunate that HN used to be a place where a question like the original one would have been answered by a person who does, but is now flooded with people like you. I will gladly take the downvotes if they're from a bunch of garage band stock pickers.