Google chairman Eric Schmidt candidly reveals that he did not foresee importance of social media

Google executive chairman and former Eric Schmidt was recently interviewed with Bloomberg where he shared what his predictions are for 2014. He also revealed that he did not foresee the importance of social media while leading the search giant. In the interview, Schmidt said that everyone will get a smartphone this year.

“The trend has been mobile is winning. It has now won. There are more tablets and phones being sold than personal computers. People are moving to this new architecture very fast,” said Schmidt in the interview. The result will be “a whole new generation of applications around entertainment, education and social life.”

During the interview, Schmidt took full responsibility for Google jumping into social media later than Facebook. He said that they will not make that mistake again. “In our defense we were busy working on other things, but we should have been in that area and I take responsibility for that,” said Schmidt.

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