Translation: Too many Googlers leave and go on to start their own companies. We're creating a playground where they can explore their ideas and we can keep the profits, as it should be.
Yes the lucrative profits of the average startup :-D
Anyway, I applaud their effort, as I think it has a significant chance of empowering some people to build some awesome stuff that they were otherwise too hesitant to go at alone.
[1] https://en.wikipedia.org/wiki/Ben_Silbermann
[2] https://en.wikipedia.org/wiki/Kevin_Systrom
[3] https://en.wikipedia.org/wiki/Evan_Williams_(Internet_entrep...
If they try out their idea in Area 120 instead, then a) Google can own the product if it ends up being good b) It has a better chance at success with Google behind it c) If it fails, the "founders" are more likely to rejoin the mothership
There are many more, though.
Plus, former Google employees are some of the most hireable candidates in the world. They don't lose job security when they walk away to chase their startup dreams like most of us do.