Eric Schmidt: Google Missed Social Opportunity

Google Executive Chairman Eric Schmidt admitted during an interview with Bloomberg News that the company missed an opportunity in social media, VentureBeat reported on December 30.

Schmidt acknowledged that Google did not anticipate the rise in social-network use and took responsibility for the missed chance.

“The biggest mistake that I made was not anticipating the rise of the social networking phenomenon — not a mistake we’re going to make again. I guess, in our defense, we were busy working on many other things. But we should have been in that area, and I take responsibility for that,” Schmidt said.

To learn more about Schmidt’s social media mea culpa, read the full story by clicking here.

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