Alphabet has obvious stakes in transportation with Waymo's self-driving cars and Sidewalk Labs' public transit efforts. There are other investments, though, including support for SpinLaunch's space cargo catapult and co-founder Larry Page's backing for Kitty Hawk's flying cars. The company is clearly anticipating a broader shift away from personal car use, not to mention a greater interest in transport at times when ground vehicles just aren't an option.

The investment might be necessary if Google wants to continue its reputation as an ever-growing force in technology. Whether Alphabet likes it or not, its income still revolves around Google's internet ads. A stake in Lime could help reduce that dependency on ads. With that said, there's some risk involved -- there's no guarantees that electric scooter services will continue to thrive, especially not when residents cities like San Francisco can be annoyed by the two-wheelers clogging up their sidewalks and streets.