(NASDAQ: GOOG) (NASDAQ: GOOGL) added a new company under its umbrella last week as Google spun out its self-driving car project into its own entity, now called Waymo, which stands for "a new way forward in mobility." The newly created company is more than just a name change for Google's well-known autonomous vehicle ambitions. It's a step forward for the company to start earning money from all the research and testing it's been doing for years.