Google CEO on Future of Technology

" More now licenses tab -- Google CEO -- the technologies pretty good with numbers I asked him. About that one trillion dollar health care plan."

" Part of it going to pay for healthcare sort of things is they take -- you get savings but you're good numbers crunchers well. It can you leave it at taxing the top three tenths of 1%. Raising their taxes on Cyprus and other words. It and a couple of years bring the top rate. Another ten percentage points higher. For guys like you billionaires I guess that he can afford it. But do you worry about the direction. I worry that the math doesn't work. And I worry that it doesn't work because when I add up to growth in health care costs and the likely trajectory. And the lack of effective cost controls that we will continue to have an underfunded program. And those -- okay so so just taxing the rich alone won't do. Well the question is who's going to pay for healthcare going from roughly 15% of our economy to roughly 21% as most of forecasts say. And remember that increasing percentage drives out investment in non health care businesses manufacturing. Basically other kinds of jobs so today as a young person the only industry should go into his health care because that's the one it's going to be hiring everyone under this have jobs and I think it just won't join Google but that's another -- Do you look at Google what's happening right now. Everyone does mention -- Microsoft comparison mentioning IBM comparison other than humans and their day but got little cocky annals of -- themselves and -- upstarts can -- I mentioned this you know you can. People kids today that on Twitter FaceBook and and that's their universe and and and for many of them you or not it's. Well -- everything we've seen indicates that Twitter and FaceBook users are using who believe in more so we we're very happy with that. But the general question. Of leadership and the sort of are you in the next Microsoft is really a function of attitude. The companies that you mention made mistakes years ago but hopefully we're not making hopefully the mistakes we're making now will put us in this country predicaments. That our sensitivity toward and users are focused on consumers are focuses on bringing costs down not up. Are focusing on letting people get out to take your information with them. Mean he's a much better model for the information age that these older models -- one continent take him because of the -- of the Comcast NBC discussions. Whether you would be interested in doing something like that I raise it because. The talk to you guys -- interest in buying the New York Times who we had a serious conversations about what to do about content. We ultimately decided to not get in the content business what you seriously looked at today was which we looked at that -- times but also other other institutions and we sort of went on another instance rather than naming them what to say we did a survey. And our conclusion was we -- are not very good that it's not a particular it's not a didn't do it wasn't as he would like to newspaper no no no to the contrary. We we like information. But we think it's better for those to be managed by the professionals that are managing them but we think well that's the it and when you spoke to San Francisco on the longer you didn't rule out. Well I'm careful not to ever rule out anything because that's always a mistake as -- right now. But I would tell you it's highly unlikely we would get in the content business. It's fundamentally better for us to be -- supplier of platforms and monetization and revenue and advertising and subscription services to all of these players. We desperately need the newspapers the magazines that media companies to be successful because we need their content. But the thing we can offer is better monetization better targeting. And a better user experience for viewing content created by very very sophisticated people -- pushing his company error then then. With the contest NBC talks if they were spinning off those operations or. Doing any of that. You would you be interested not any. As I said it extraordinarily unlikely when Gibson. And when it comes to other content providers. On on on the Internet. What about that against similar answer if its content where you have people producing content to viewers are looking at we're better off powering it not writing them down. Would such Honolulu did salaries. CEO compensation rests. So much of your fortunes and don't just of the stock here company that soared over the years. But what do we do about -- the argument is that might put the captain CEO pat what's the financial industry other industries. Bright shrewd CEOs and their their top lieutenants will find other ways to get rich what's the solution. How well I'm sure that that sure the people will find other ways to reach that has been the story of America since its founding. The most important thing to do is to get the alignment of interest correct. The problem with what happened a year ago was that you have people. If you will privatizing the gain but they socialize the losses to the government and that's not okay they fundamentally took the money ahead of everybody else. At least in the high tech industry we have ownership of equity. All the individuals involved succeed or fail based on the value of the stock over very long time. Not so much better way of aligning the -- Soviets into the agency problem where the CEO may or may not be working for in the interest of the shareholders. But paying someone a lot of money why not pay them in stock instead. Why not give them an incentive just like just stock not options or any other -- source option with appropriate restrictions so it looks a lot like stock ownership. Because what the administration's own -- and over many many years not just something that vest over here to -- again I don't know -- the details and couldn't criticize it when we're in other. I'll tell you that we you've got a stake in the corporation. For the long term you're gonna behave as a Steward. And you're going to act in the best interest of the long term shareholders which is the ultimate goal of American capital. To the president -- servants -- We had some conversations and I concluded that I was much more excited about staying in and being committed to Google and I'm committed to. We did that's that's all -- Treasury out salsa conference thank you it was a nice lunch. I haven't we had a very nice that finally your overview of where we stand a touch of the beginning and I gotta go the economy right now. Stacey has picked up -- many are worried. Given what the Federal Reserve said this week that we might be picking up steam but -- Down a road similar going to take Wright's insane so many words but look here's what did you see inflation -- but but here's here's the first list of places not going to happen along as China continues to monetize our debt. And that's the thing that everybody when. -- here dollar tanks and I went beyond point and is a dollar tanks the time the dollar cycle will occur with China because China is keeping its currency artificially low. As long as -- structure remains in place. It's easy for us to continue to have vastly large deficits and the other thing that happens of course is oil prices go up because oil prices in the globe we're done in dollars as the dollar weakens. Regardless that -- on -- how the system works. I don't pretend like -- but that's how it works or would the Fed is saying you decades to -- do something well and we should do something now and we need to address the long term of America if you take the classics that cycle where you've got rising unemployment which is very severe the recovery is coming up but it's not a jobless recovery is that all our. You've got issues around investment you've -- all this dad how do you solve that. The interest you grow out of that word is the growth come from it doesn't come from government regulation and moving to the pawns are on the chessboard. It comes from investment in businesses private capital markets to create new industries that are global. America has those people it has the leadership that has the technologies it has the funding model. This time to focus on that that's where that's how we'll get out of it. That's how will pay the taxes to fund all the government programs and everybody's -- but general of this spending that's going on Washington's lead us to. Well the spending is is it to some degree the stimulus is short term but all the other stuff the other stuff is always an issue and if you look in the last 21 tree and this is it too much for you from my perspective aggregate spending is too high and it has been -- for a long time. These entitlement programs are particularly concerning because the changing demographics of America and there's not much we can do our political system put -- on a proper footing. From from my perspective it would be much better if we would focus on. Getting the revenue up in my revenue I mean to gross revenue of the country. Terms of its wealth -- people the education systems and new businesses that are about to be created. Finally fueled some probably counterpart Meg Whitman of the events and running for governor of California. That reverend -- me personally know. Watching meg is a good friend and looking what she has to do I'm happy to say Google. This is -- talking to the press right. Eric -- thank you very thank you very much very good --"