Google has announced the formation of a new company called Calico, which aims to promote health and fight aging. Larry Page said, "That’s a lot different from what Google does today. And you’re right. But as we explained in our first letter to shareholders, there’s tremendous potential for technology more generally to improve people’s lives. So don’t be surprised if we invest in projects that seem strange or speculative compared with our existing Internet businesses." He expanded upon this in an interview with Time: "I'm not proposing that we spend all of our money on those kinds of speculative things. But we should be spending a commensurate amount with what normal types of companies spend on research and development, and spend it on things that are a little more long-term and a little more ambitious than people normally would. More like moon shots." The new company's CEO will be Arthur Levinson, who is currently the chairman of Apple and biotech company Genentech. Apple CEO Tim Cook said, "For too many of our friends and family, life has been cut short or the quality of their life is too often lacking. Art is one of the crazy ones who thinks it doesn't have to be this way."