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Google will no longer back up the Internet: Cached webpages are dead
(arstechnica.com)
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That’s in fact what the article claims as Google’s reason. But seems irrational. Google still needs to index websites for the search engine. So the storage is still needed since the data collection is still needed. The only difference (AFAICT) is Google is simply not sharing that data. Also, there are bigger pots of money in play than piddly storage costs.