Facebook, Google shelve satellite plans

[Priyanka]

Facebook and Google have both lost enthusiasm for satellite internet, according to media reports. According to reports Facebook is dropping its plans for a geo-stationary satellite over concerns that it will not recover costs. Google, which hired satellite entrepreneur Greg Wyler to prepare a satellite constellation in 2014, backed out of that plan earlier this year, reported Quartz.

[Daljeet]

Facebook’s plans to bring internet access to the emerging markets have the potential to positively transform the countries targeted but there’s also a direct financial incentive for the social networking giant.