CNBC is hyping a Eric Schmidt/Maria Bartiromo interview that airs today at 4pm, but they're already released the transcript from the chat, taped yesterday.
Predictably, there are no shockers: Eric stays on message about
Google's growth opportunities, costs, etc. He says the DoubleClick
integration will take about six months. And he says he doesn't have any
idea what will happen with Microsoft-Yahoo, but sure hopes Steve
Ballmer doesn't get his way. Etc.
Most interesting to us: His allusion to new, previously undisclosed
plans to extract money out of YouTube, which cost Google (GOOG) $1.65
billion in 2006 but hasn't generated more than a trickle of cash to
BARTIROMO: Which is a huge priority,
clearly. A lot of people feel like this is an amazing opportunity for
you. So, as far as monetizing that business on YouTube, do you think
that takes a year? Does it take the next five years? What's your time
frame on that?
Dr. SCHMIDT: We believe the best products are coming out this year. And they're new products. They're not announced. They're not just putting in-line ads in the things that people are trying.
But we have a number--and, of course, Google is an innovative place.
The Yahoo! team are trying various new forms of advertising, ones which
are much more participative, much more creative, much more--much more
interesting in and of themselves. Google believes that advertising
itself has value. The ads literally are valuable to consumers. Not just
to the advertisers, but the consumers.