Twitter, from poor man’s email to innovation leader
Schmidt’s comments on the microblogging site are picked over with the kind of meticulous care often associated with neurosurgery, simply because Twitter is often rumored to be a Google acquisition target.
On Thursday, In an apparent reversal of his earlier pooh-poohing, Schmidt declared Google to be open to some sort of advertising partnership with Twitter.
“Twitter proves innovation is alive and well in Silicon Valley, and it’s really come on-board very strong in the last year,” Schmidt told investors and analysts on a conference call after unveiling better-than-expected first-quarter earnings.
“To the degree they become successful, it could become a channel for real-time information, for which you can hang advertising products, whether it’s a text ad or video ad, off of it. I don’t know personally their strategy, but it strikes me that’s a logical strategy for them to pursue and something we would be happy to pursue.”
If not Twitter, anyone else?
“Well, I think the most important thing to say, that it (cash) is not burning a hole in our pocket. $2.2 billion of incremental cash will sit in nice space, low interest bearing accounts while the economic system works its way through the banking system and all of that,” Schmidt said.
“We continue to evaluate what we might do with the cash but our view at the moment is to remain very, very conservative and I don’t think that will change any time soon.”