December 31, 2013
Admits Google Missed the Boat on Social Media
Google chairman Eric Schmidt is not afraid to admit his mistakes.
In an interview with Bloomberg, Schmidt admitted the social media craze passed Google by in the early going, leaving the technology giant playing catch up — a position it is not used to being in.
“At Google, the biggest mistake that I made was not anticipating the rise of the social networking phenomenon,” Schmidt said.
“In our defense, we were working on many other things, but we should have been in that area and I take responsibility for that.”
Schmidt also made some predictions for 2014. The biggest change, he said, is “everyone is going to have a Smartphone.”
“The fact that so many people are connected to a super computer means, essentially, a whole new generation of applications around entertainment, communication, socializing,” he said.
“The trend has been mobile was winning; it’s now won. There are now tablets and phones being sold than personal computers. People are moving to this new architecture very fast.”
Schmidt also talked about Big Data, saying more and more companies will collect and study the reams of information coming into their servers on a daily basis.
When it comes to personal genetics, however, Schmidt was less sure about what the future holds, although he said the potential is great when it comes to discoveries for cancer treatment and diagnostics.