Google CEO Eric Schmidt Blames Himself For Social Networking Flops

Posted Jun 1, 2011

Google Inc. (NASDAQ:GOOG) knows how to do search, enterprise apps, and mobile just fine. But they could never quite figure out how to create a successful social network that interests people in the U.S. Facebook casts a large shadow over Google when it comes to social networking.

Microsoft Corporation (NASDAQ:MSFT) beat Google to the punch when making a deal with Facebook too. ?Facebook?s done a number of things which I admire,? stated Google Chairman Eric Schmidt at an interview at the D9 conference. ?It?s the first generally available way of disambiguating identity. Historically, on the Internet such a fundamental service wouldn?t be owned by a single company. I think the industry would benefit from an alternative to that?.Identity is incredibly useful because in the online world you need to know who you are dealing with.?

Eric Schmidt believes that Google’s struggles to create a highly successful social network is his own fault. Schmidt said that CEOs should take responsibility and that he screwed up.