Schmidt, for the most part, successfully accomplished what he set out to. He was brought on to bring some “grey hair” into the fold; meaning provide the company with steady, experienced management, while the two co-founders, then only 27 year old, gain more management experience as they tweaked their golden goose to perfection. Co-founders Larry Page and Sergey Brin were essentially kids at the time, and certainly did the right thing by bringing on someone with Schmidt’s expertise to keep the operation afloat. Schmidt, by the way, is a former board member of Apple, Inc, and was CEO of Novell when he left to become Chairman and CEO of Google. Eric Schmidt has been criticized for not have the technical dexterity of his bosses, Brin and Page, but in his defense, that is not what he was there for. Nevertheless his stint at Google was extremely successful, which is made abundantly clear by the 4th quarter earnings report showing Google had a 29% jump in revenues. Since August of 2001, Schmidt, Page and Brin ran the company as a triumvirate, and the company’s shares grew more than six-fold.
whose name has become a verb?
For starters, Google expected to acquire ITA software for $700 million. As the story goes, an agreement was reached for the acquisition of ITA software, which powers travel sites, including Kayak.com, as well as the reservation systems of American and Continental Airlines. Although the golden goose of the internet was initially cleared for by the Federal Trade Commission, but it is anticipated that the next hurdle will be met with resistance. It is reported that the government may be preparing to file an anti-trust suit against Google to stop this deal in its tracts. Google has had some issues come up about privacy, and concerns about the lack of security of the information Google has gathered, as well as how this information is being used. It would seem that if Google also had proprietary information collecting from million of airline customers, they may prove to be deemed a little too much “information” or a conflict of interest, or both. I will be watching to see how this plays out. It is certainly intriguing to say the least.
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Anonymous said......
It looks like Google's founders may have grown into their roles as chief executives, but can they stay ahead of the technology curve as Apple has been able to do, time and time again? Schmidt should probably stay on as a consultant, to keep an eye on the ship, while the barely seasoned founders find their rhythm.
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K. Reilly said......
I understand your feeling, and Schmidt has certainly been a solid guardian for Google, but I tend to believe the Mssrs. Page an Brin have earned great experience over the past 10 years, and well prepared to lead the company to the next level.
It looks like Google's founders may have grown into their roles as chief executives, but can they stay ahead of the technology curve as Apple has been able to do, time and time again?
ReplyDeleteSchmidt should probably stay on as a consultant, to keep an eye on the ship, while the barely seasoned founders find their rhythm.
I understand your feeling, and Schmidt has certainly been a solid guardian for Google, but I tend to believe the Mssrs. Page an Brin have earned great experience over the past 10 years, and well prepared to lead the company to the next level.
ReplyDelete