Schmidt: 'Revenue Solves All Problems' in Business and Government

Google Executive Chairman Eric Schmidt's grand theory of government is the same as his grand theory of corporations. "Revenue solves all problems."

"Business as a general rule wants predictability," Schmidt said in an interview at the Washington Ideas Forum, and the unpredictability of the U.S. economy is making business nervous.

Washington Ideas Forum - Full CoverageTax increases on the wealthy "don't matter that much" in the grand scheme of things, he added. "That number is a small number. It does not matter compared to the other things we're talking about that much. In my case, it wouldn't change my behavior. How do we get the productive parts of America? That's the only conversation that matters."

PBS's Gwen Ifill asked Schmidt if Google missed the social media wave. Schmidt admitted, "We were late to this. We were focused on other things." He did point out that with Google+, the company was going at social media with a greater emphasis on privacy controls. "It's very hard to beat a fast-moving company at its own game," he said of Facebook. "You have to find a new problem and do it better than they are. And that's what we're trying to do."

View the full session at FORA.tv

Presented by

Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

Does This Child Need Marijuana?

Dravet Syndrome is a severe form of epilepsy that affects children. Could marijuana oils alleviate their seizures?

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

Does This Child Need Marijuana?

Inside a family's fight to use marijuana oils to treat epilepsy

Video

A Miniature 1950s Utopia

A reclusive artist built this idealized suburb to grapple with his painful childhood memories.

Video

Why Principals Matter

Nadia Lopez didn't think anybody cared about her school. Then the Internet heard her story.

Video

A History of Contraception

In the 16th century, men used linen condoms laced shut with ribbons.

Video

'A Music That Has No End'

In Spain, a flamenco guitarist hustles to make a modest living.

More in Business

Just In