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Published: Thu, 5 Nov 2009
Description: Google CEO Eric Schmidt on why technology is a driving force in the economic recovery.
Automatically Generated Transcript (may not be 100% accurate)
" It's horrible the -- about 10000 again on news that job losses appear to be -- maybe because companies like Google now hiring. Google CEO our society here and only -- on me what he thinks is behind this a couple of."
" It's clear that technology is in recovery it's clear that the recession is behind us we don't know what the growth it's going to be. But we've seen an uptick in consumer behavior in the advertising model and we've seen it. Interestingly not just in the US but also in Europe I think that bodes very well. For the next six months twelve months but it when he's still got an uptick comes from rather depressed levels not it's assuming -- does put across the board -- I always find it Wall Street is very excited when they see you know. A little bit alike but it still fairly dark is not there. Well there's a lot of issues in the economy of course lending and the issues of the banks in the structuring and and and ultimately I think the massive deficit that has been assembled. On the other hand in technology these -- businesses about new products. And all of the industry has a new generation of products that are fascinating who of course has all the phones coming out. Handles a lot of new search and advertising products you with these phones you -- you're the software behind it and everyone points of the hardware behind. Well the hardware is getting much much better you know Harvard gets better just like personal computers but is it going to be your hardware well it will be our partners -- that's our strategy that's -- leave it that we give -- away but we make money -- and lots of it turns out from advertising and mobile phones but I just wanted to clear that -- the talked of soon you guys and make a physical phone himself in his life. What we might decent distribution with partners but the important thing is we're not in the harder business we're in the -- advertising business and it stays that way hopefully. -- What is your view that that that that these gadgets this this technology that this is sort of like the new playing field. And and whether you have a search on the on the where you gonna do whatever on the that these are the venues and this is the future is it but the future is largely mobile devices not just phones the tablets in those kinds of things. They have powerful computers there for GPS they know where they are they know who you are. And near the conduit for the enormous explosion of real time information video your show. The world's information the web and so forth all in one place backed up by the kind of computers and servers that Google and other companies offer."
" You know that I couldn't believe in and always getting ready becoming. Send around that -- blew over a decade and then you've taken a little world. What ten and I'm an -- I I don't let's that your intent countries come in in peace but let's get up -- I won't get -- in middleman."
" These guys every net -- and everyone's afraid if you and it's you coined the term."
" If you wanna be a Google friend and you know you don't want to be on their bedside. Did that happen Microsoft. I."
" I know hopefully we won't repeat the mistakes of Microsoft made you know ten years ago that ultimately led to all these things of that with them. In our case. We see ourselves as -- disrupt terror and a structure because we're using new technology to solve real consumer problems could be in some cases people didn't even realize could be solved. We're also a company that operates its scale using computers globally. And of course. We are in the information business people have a lot of information about it a lot of and opinions about how information should be organized well I have a lot of things and how much you have. Office and -- and I know you have it is that this dashboard technology where. People can go ahead and go to this site I guess it's like a -- to Google dashboards that we are basic idea is that there's that all of these computers are getting a lot of information about. About yourself. And you should have more control over how that information is shown who gets to see and so forth. Ultimately in -- information systems we're going to have a long national conversation about who owns the information about you. But Google's view is -- that the people should on the information as much as -- that they feel that you have it well which you can also deleted or you can also tell us not to keep it. I voted. I don't want to sound like the grassy -- crown but how knowing knowing your deleted it. Because we say so and because we would be sued cities that come in peace to serve man. I don't know what I would distaste for any US everything up there right you could say what people are getting from where you're searching -- to. Your view Google calendars I mean it's all. Open book stuff that you could find what what. What's out there but not but not about specific individuals. And furthermore I don't find out about me yes but you can also delete it and that's the most important thing. And by the -- this problem only gets worse with these mobile phones. -- the -- remember are always talking to the cell towers in the south are always know where the phones are. -- effective a real time tracking of of yourself it's obviously a huge privacy issue. It is both illegal and not correct him to misuse that kind of -- you know -- this technology gets you remember when you have the Google Earth thing and then. Your maps to its. Oh incredible that you could actually. Zero and but my wife would find me outside a bar with -- As a chicken I don't know if not let out on the what you said Michael all of a sudden be listening to this than these guys are incredible there. -- but we're trying very much to not cross the -- would call the creepy line. The creepy line of you know you in the bar to probably there was a little creepy and probably not really too right. But between the way curry if she was -- even -- yeah same idea it. So for example with our satellite information we don't do anything that's that's more recent than a month old so we don't do real time satellite for that reason. We do a lot of other things to make sure that creepy here this surveillance and privacy lines are not crossed that we care a lot about it. You do and you're very good relations of the Obama administration and of course the subject of fortune covering the latest issue. On on -- my guess -- very flattered by the -- did you must have been begging your head against a wall because there's no way you come out winning what that. What you don't want to be to close any particular administration and they don't want to be too close particularly to view if people learn from us your thoughts that's Mary pat go ahead a and it -- from our perspective. The Obama administration has done a number of things that are important from a -- perspective. Most importantly focusing on national broadband plan which some -- all of us can agree we'll bring great. Prosperity to America. And give us an opportunity to really in today. But they're not above looking into your business or and I trust issues because with your success a lot of their other friends say well you know. But they are getting. Today for the what we expect that in the regulators have a job to do and and we expect -- not just in the United States but also especially in Europe. From our perspective if you look from and -- for it -- resume my message to the administration. It's really about innovation. That Google is an example of a company. They can help invent new industries in America -- can really bring jobs that can really bring the kind of America and all of us want to be part. The advanced manufacturing Biotech and the other things that America is a world leader in investments there and encouraging the private sector which is where jobs are created that works. On president -- you personally you're on is Friday advisory boards I guess but. How do you like Kent. On a personal basis I -- a lot is very very smart. He's a he's a tough thinker and one of the things about President Obama people did not see on the campaign. Was how decisive he was. And given -- that set of problems that he has been handed. He's been quite decisive Debbie sign you back to -- do you think your pretty good bastard that he. Spread himself too far too much I don't but I think that he is I don't I don't -- presumptive -- but I do believe our system gets in the way of being a proper CEO. After all the constitution calls for the congress to exist and to do its thing. If you look at what's happening -- legislation. Which is true about a million in the previous administrations well. The congress is is riddled if you will with special interest their own motivations represented in the could this power system were around him very difficult to manage to that. Whether your President Bush for President Obama and my heart goes out to both of them on that. But as. A pretty important global executive. Does it bother you that the tone -- at the White House for Washington since then kind of open season. -- executives and their wealth and whether in the financial industry and health insurance industry a big old bulls. It's it's easy to to demonize people. Especially after the harm was done to the average person in our society by the powerful and elite who essentially precipitated that both the credit. Sit supply and then the collapse and I understand the anger. I would tell you that there's an opportunity now to fix this we have technology we have measurement systems we have open systems and transparency but do you think -- little far. Do I do I think the personal absolutely it's gone too far but I understand it. And I think the solution is not to spend more time talking about what happened rather say how do we avoid these -- in the future. How do we avoid creating all that all the best right how -- put it put to bed forever and we can do that by the way. Using transparency in how computers talk to each other and making remember that in the web. People have a lot of ability to monitor what our government is doing and that's a good thing."
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