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ES Oral Testimony - As Prepared for Delivery - Google Docs

ES Oral Testimony - As Prepared for Delivery - Google Docs

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Published by: tim3603 on Sep 21, 2011
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09/21/2011

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Eric Schmidt Testimony - Senate Subcommittee on Antitrust,Competition Policy and Consumer Rights
Wednesday, September 21
Remarks as prepared for delivery.
Good afternoon Chairman Kohl, Ranking Member Lee, and Members of the subcommittee.Thank you for inviting me here today.I want to start first by taking a step back.Twenty years ago, a large technology firm was setting the world on fire. Its software wason nearly every computer. Its name was synonymous with innovation.But that company lost sight of what mattered. Then Washington stepped in.I was an executive at Sun and later Novell at the time. And in the years since, many of usin Silicon Valley have absorbed the lessons of that era.So I’m here today carrying a long history in the technology business and a very shortmessage about our company:We get it.By that I mean that we get the lessons of our corporate predecessors.We also get that it's natural for you to have questions about our business.What we ask is that you help us ensure that the Federal Trade Commission’s inquiryremains a focused and fair process, so that we can continue creating jobs and buildingproducts that delight our users.Before I talk about our perspective on the state of technology overall, I’d like to start byexplaining how we think about our own business and a few of the principles that guide us:
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First: Always put consumers first.Last year alone we made more than 500 changes to improve search. This is not aneasy task. Our challenge is to return only the most relevant results first. This meansthat not every website can come out on top. This results in some complaints frombusinesses who want to be first in the rankings, even when they’re not the bestmatch for a user’s search.
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Second: Focus on loyalty, not lock-in.We don’t trap our users. If you don’t like the answer that Google Search provides,you can switch to another search engine with just one click.
 
And if you want to leave other Google services, we make it easy to do that too—youcan even take your data with you, without any hassle. We want consumers to staywith us because we’re innovating and making our products better—not becausethey’re locked in.
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Third: Be open, not closed.Open technology includes both open source, meaning we release and actively supportcode that helps grow the Internet, and open standards, meaning we adhere toaccepted standards and, if none exist, work to create standards that improve theentire Internet.
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Fourth: Be transparent.We share more information about how our search engine and other products workthan any of our competitors. And we give advertisers detailed information abouttheir performance and return on investment.
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Finally: The only constant is change.Ten years ago, no one would have guessed that the IT landscape, vocabulary oreconomics would look like it does today. And no one knows what it will look like inone year or five years.Despite what others might say about the American economy, I still think the future is verybright. While there’s no doubt that we’re facing difficult times, there has never been a moreexciting time to be a part of the technology business.While others have given up on the American economy, Google is doubling down.We’re investing in people. In 2002 we had fewer than 1,000 employees working at Google.Today we have more than 24,000.And we’re hiring: earlier this year we announced 2011 would be our biggest hiring year yet,and we’re on target to meet that goal.We’re investing in mobile. Just look at our plans to acquire a great American company,Motorola Mobility. We believe that our proposed acquisition of Motorola, like many previousmoves we’ve made, is good for competition, innovation and the American economy. It’s abig bet but we’re confident that the acquisition will lead to growth and innovation in mobiletechnology.We’re investing in local. Today97% of people look online for local goods and services, but63% of America’s small businesses don’t have a website. That’s why we’ve started aninitiative to help small businesses get online. We’ve partnered with Intuit to offer localbusinesses free websites and tips on how to grow their online presence.Last year alone, Google’s search and advertising tools provided 64 billion dollars ineconomic activity to other companies, publishers and non-profits in the U.S. and we’reproud of this contribution to the economy.
 
Without exaggeration, high tech is the most dynamic sector of the U.S. economy. Theadvertising-supported Internet alone is responsible for 3.1 million jobs in the United States.And according to a recent McKinsey study, the Internet was responsible for 15 percent of America's GDP growth over the past five years.The Internet is also home to some of America’s most successful companies—Amazon, Apple,Facebook and Google. We compete hard against each other and we welcome thatcompetition. It makes us better. It makes our competitors better.And, most importantly, it means better products for our users.So today it’s Google’s turn in the spotlight and we respect the role members of thisCommittee and agency officials have in this process.But I ask you to remember that not all companies are cut from the same cloth, and that onecompany’s past need not be another’s future. We live in a different world today, and theopen Internet is the ultimate level playing field.If you keep that in mind, then we believe that the FTC’s inquiry will reveal an enthusiasticcompany filled with people who believe we have only just scratched the surface of what’spossible. That passion to do better will not only serve our users well, it will serve our nationwell, by helping create the new jobs and economic growth that America needs.Thank you very much for your time.

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