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Your presence, your preferences, your patterns and your habits are tracked by the Nest. Could Google use this data and use it to generate revenue? With all these data points, they are inching closer and closer to creating the ultimate profile of their end users — in many cases knowing more about end users than they know about themselves.

On the other end of the spectrum, this data AND control over a homes HVAC system gives whoever is in control the ability to conserve energy on a massive scale. Thermostats control the biggest energy hog in most peoples homes — your air conditioning and your electric heating. Forget about the privacy and legal issues for a moment. The ability to turn on and off this energy hogging gear across thousands or millions of homes in a single geographic area suddenly gives Google the ability to take down an entire electric grid, or perhaps save it and charge for that power — literally and figuratively.

These are 2 completely different uses of the data and ways to monetize it — and trust me — there are many many more which Googlers will figure out — after all they have some of the most brilliant minds. They will amaze all of us with what they come up with.

Since its humble beginnings, Nest has gained much fame in the home automation industry for their best selling Nest Learning Thermostat and Nest Protect smoke and carbon monoxide detectors. Google Ventures, the venture capital investment division of Google Inc. One big concern is that Google will use the data collected by Nest to target advertisements based on our behavior in our households, not just our behavior online.

Privacy concerns aside, Google is making a major investment in the burgeoning field of smart home technologies. In fact, over the past year Google has acquired high-tech companies like Holomni robotic wheels , Makani Power airborne wind turbines , Redwood Robotics robot arms —the list goes on and on.

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