Google CEO takes questions from press at Sun Valley

July 14, 2006

schmidt.jpgWe were a part of the press pack that descended on Google CEO Eric Schmidt as he fielded a wide range of questions from reporters at the sidelines of the Herb Allen Conference in Sun Valley on Friday.HIRING TALENT THROUGH ACQUISITION RATHER THAN RECRUITINGReporter: How many acquisitions do you do?Schmidt: “It’s one or two a week it seems. Most acquisitions: They are very small. 1-2-3 people and you never, never hear about them.”—”Why would you want to be acquired?” Schmidt asked reporters rhetorically.”The venture guys have so much money, you don’t need to get acquired by us for capital.”The reasons…that they (start-ups) would choose be to be acquired are not what you might think. There is so much capital. And many of these businesses require no capital.”The reason to be acquired is that Google gives them (Web entrepreneurs) a platform that they might otherwise not be able to get. As markets consolidate these little companies often cannot get enough ‘mindshare,’ even though their technology is really good. Any one of these people are a reasonable (acquisition) candidate.”THE IDIOTS RUNNING GOOGLEGoogle CEO Eric Schmidt tells reporters:”(During the 2004 IPO process), between the time we filed and the time we went public, the press was among the most unpleasant I have ever experienced.”We (Google management) were ‘idiots,’ we were ‘useless’… I thought ‘God.’…It is a terrible feeling of being on the other side of that (press coverage).”So we looked at (Google’s Web site) traffic and revenue and they were exploding… We had a very, very strong quarter right after the worst possible press about ‘the idiots running the company.’”I don’t know what that tells you.Schmidt then paused and begged the reporters to create a new Google press frenzy:”So, yes we are IDIOTS — and please WRITE THAT DOWN.”WE HAVE EVERY PROBLEM YOU CAN IMAGINE… QUICKERGoogle CEO Eric Schmidt: “We have every known problem that a growth company has — quicker…Write down all the obvious problems, we have every one of them. So we make a list of them (potential problems) and we anticipate them.”Reporter: Are there any non-obvious problems?Schmidt: “No. no.”Reporter: Is it a list of 10-15?Schmidt: “I would say it is about 20.”If you, the listener, can put up with a few bumpy moments at the start of the recording, settle down for 39 minutes of unedited questions and answers from Schmidt.Listen in to his answers on click fraud, acquisitions, video, Gmail, electric power, leadership, stock options, bad press, and other rumors and realities of running the world’s most talked about Internet company.The media scrum included Sallie Hofmeister or the Los Angeles Times, Jonathan Thaw and Greg Miles of Bloomberg, Michael Liedtke of the Associated Press, and Kenneth Li of Reuters.What do you think of YouTube? a reporters starts by asking…Download the Eric Schmidt interview (39mins MP3)

Comments

This was a high quality interview, and pretty revealing…the only flaw was the lack of converstion about Google’s Organic Search Algos

 

Google is a shell company of Microsoft. Mr Schmidt is a employee of Microsot. He used to run Novell into the ground so that Microsoft can conquer LAN. Now Mr Schmidt is running Google for a different reason. He is trying to conquer Ebay, Yahoo, and Amazon. Microsoft knows that it will face lawsuits all over again if it does that itself. Microsoft set up Google IPO to start a satellite company of Microsoft. Although there is no money interchange between Microsoft and Google but Bill Gates is content enough to know that he can start a new company remotely. It is the only way Bill G can do to continue his conquest across the cyber landscape. He will probably set up another IPOs to conquer Oracle and Cisco. He will let key Microsoft employees to migrate to Google and his future IPos.

Posted by Gumbo | Report as abusive
 

Understandable that Mr. Schmidt would be a bit sore about the press coverage to date…..the “CLUB” to which he obviously doesn’t have membership (Wall Street) has shunned the company from day one.
Having the ability to see the progress on all fronts his company continues to make, and seeing the way it is portrayed in the press, has to be frustrating. In the end, “the truth will out”. Most holders of trhe stock know this, and are able to look beyond the “static” from those looking in through the tinted glass of press coverage.
If those guys are “idiots” count me in. Judging from the exodus from “softieville”, those “idiots” have created the atmosphere needed for true thnkers to flourish and create value for the shareholders of Google.

 

Thanks to Google for making the web more like the repository of all human knowledge. And thanks to some SI smart folks for funding the TESLA Electric car, successor to the crushed EV1.

 

Gumbo,

you are a funny guy,
you are like those people who say bush orchestrated 911,
there is nothing more to say to people like you,

cheers,
kanhar munshi

 

The search results returned by Google are some of the worst I have ever encountered. Try this search using Google “virtual iron software” with and or without the quotes.

Posted by R Johnson | Report as abusive
 

I just checked, MSN and Yahoo both returned http://www.virtualiron.com first in the results for the query “virtual iron software”.

Posted by R Johnson | Report as abusive
 

Gumbo,
I’d love to hear the story of how you were abducted and experimented on by aliens.

Posted by Greg Walker | Report as abusive
 

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