Saturday, February 9, 2013

Google CEO Eric Schmidt Knows Something..That The Fake Crony Capitalism System Based On Out Of Thin Air Money Is Collapsing - The New System Is Open Source Free For Everyone By Voluntary Participation

be courageous, be the change, open source future, nature is our teacher

Eric Emerson Schmidt (born April 27, 1955) is an American software engineer, businessman, and the Executive Chairman of Google.[3] In 2012, Forbes ranked Schmidt as the 138th-richest person in the world, with an estimated wealth of $7.5 billion.[2]
Early in his career, Schmidt co-authored the lex analysis software program for the Unix computer operating system. From 1997 to 2001, he was Chief Executive Officer of Novell. From 2001 to 2011, he served as the CEO of Google.
Schmidt served on the board of directors of Apple Inc. He also sat on the boards of trustees for both Carnegie Mellon University and Princeton University.[4][5][6]



Eric Emerson Schmidt was born in Washington, D.C. (some sources state Falls Church, Virginia).[7] He was one of three sons of Eleanor, who had a masters degree in psychology, and Wilson Schmidt, a German American professor of international economics at Johns Hopkins University who worked at the U.S. Treasury Department during the Nixon Administration.[8][9][10] He grew up in Blacksburg, Virginia, and Falls Church, Virginia.[9][11]
Schmidt graduated from Yorktown High School in Arlington, Virginia, in 1972, after earning eight letters in long distance running.[12][13][14] He then attended Princeton University, where he started as an architecture major but then switched and earned a B.S. in electrical engineering in 1976.[15][14]
In 1979, at the University of California, Berkeley, Schmidt then earned an M.S. for designing and implementing a network linking the campus computer center with the CS and EECS departments.[16] There, he also earned a Ph.D. in 1982 in EECS, with a dissertation about the problems of managing distributed software development, and tools for solving these problems.[17] He was joint author during his summers at Bell Labs of lex[14] (a software lexical analyzer and an important tool for compiler construction). He taught at Stanford Graduate School of Business in the 2000s, as a lecturer in strategic management.[18][19][20]
In June 1980, Schmidt married Wendy Susan Boyle (born in Short Hills, New Jersey, in 1957). They lived in Atherton, California, in the 1990s.[21] They have two daughters, Sophie and Allison.[9][22] The two separated in 2011.[23][9] That year, Schmidt dated Lisa Shields, a communications executive for the Council on Foreign Relations.[24]
In 2012, he was dating concert pianist Chau-Giang Nguyen, who was engaged to Hollywood Oscar-winning TV and movie producer Brian Grazer until they split in 2011.[25][23]


Early career

Early in his career, Schmidt held a series of technical positions with IT companies including Byzromotti Design, Bell Labs (in research and development),[9] Zilog, and Xerox’s Palo Alto Research Center (PARC).

From Sun to Google

Schmidt joined Sun Microsystems in 1983, as its first software manager.[9] He rose to become director of software engineering, vice president and general manager of the software products division, vice president of the general systems group, and president of Sun Technology Enterprises.[26]
During his time at Sun, he was the butt of two notable April Fool's Day pranks. In the first his office was taken apart and rebuilt on a platform in the middle of a pond complete with working phone. The next year a working Volkswagen Beetle was taken apart and re-assembled in his office.
In April 1997, he became CEO and chairman of the board of Novell. Schmidt left Novell after the acquisition of Cambridge Technology Partners.
Google founders Larry Page and Sergey Brin interviewed Schmidt. Impressed by him,[27] they recruited Schmidt to run their company in 2001 under the guidance of venture capitalists John Doerr and Michael Moritz.


Schmidt joined Google's board of directors as chairman in March 2001 and became the company's CEO in August 2001. At Google, Schmidt shared responsibility for Google's daily operations with founders Page and Brin. As indicated by Google's 2004 S-1 filing,[28] Schmidt, Page, and Brin ran Google as a triumvirate. Schmidt had legal responsibilities typically assigned to the CEO of a public company and focused on management of the vice presidents and the sales organization.
According to Google's website, Schmidt also focuses on "building the corporate infrastructure needed to maintain Google's rapid growth as a company and on ensuring that quality remains high while product development cycle times are kept to a minimum."[29]
In 2007, PC World ranked Schmidt as the first on the list of the 50 most important people on the web, along with Google co-founders Larry Page and Sergey Brin.[30]
In 2009, Schmidt was considered one of the "TopGun CEOs" by Brendan Wood International, an advisory agency.[31][32]
On January 20, 2011, Google announced that Schmidt would step down as CEO of Google, but continue as the executive chairman of the company, and act as an adviser to co-founders Page and Brin. Page replaced Schmidt as CEO on April 4, 2011.[33]
The 2011 book In the Plex: How Google Thinks, Works, and Shapes Our Lives by Steven Levy claims that in 2001, Schmidt requested that a political donation he made be removed from Google search results. The request was not fulfilled. Schmidt has denied this ever occurred.[34]
In January 2013, Schmidt visited North Korea with former New Mexico governor Bill Richardson. [35][36]


Schmidt was elected to Apple's board of directors on August 28, 2006.[37] On August 3, 2009, it was announced that Schmidt would resign from the board of directors at Apple due to conflicts of interest amid the growing competition between Google and Apple.[4]

Innovation Endeavors

Founded in 2010 by Schmidt and Dror Berman, Innovation Endeavors is an early-stage venture fund focused on advancing the world by providing high-impact entrepreneurs with the capital, coaching, and network to build game-changing ventures. Innovation Endeavors has invested in more than 30 companies around the world in various industries such as Mashape, Uber_(company), Quixey, Gogobot and BillGuard.[citation needed] The firm is based in Palo Alto, USA.[38]

President Barack Obama

Schmidt was a campaign advisor and major donor to Barack Obama, and when he announced he was leaving that perch, he planned to remain at the forefront of Google’s government relations team. Obama has considered him for Commerce Secretary.[39] Schmidt was an informal advisor to the Obama presidential campaign and began campaigning the week of October 19, 2008, on behalf of the candidate.[40] He was mentioned as a possible candidate for the chief technology officer position which Obama created in his administration.[41] After Obama won, Schmidt was a member of President Obama's transition advisory board. He proposed that the easiest way to solve all of the problems of the United States at once, at least in domestic policy, is by a stimulus program that rewards renewable energy and, over time, attempts to replace fossil fuels with renewable energy.[42] He has since become a new member of the President's Council of Advisors on Science and Technology PCAST.[43]

New America Foundation

The New America Foundation is a non-profit public policy institute and think tank, founded in 1999. Schmidt is the current chairman of the board of directors. He succeeded founding chairman James Fallows in 2008.[44]


Upon being hired at Google, Eric Schmidt was paid a salary of $250,000, and an annual performance bonus. He was granted 14,331,703 shares of class B common stock at 30 cents per share, and 426,892 shares of Series C preferred stock at purchase price of $2.34.[45]
Schmidt and the Google founders agreed to a base salary of $1 in 2004 (which continued through 2010), with other compensation of $557,465 in 2006,[46] $508,763 in 2008 and $243,661 in 2009. He did not receive any additional stock, or options in 2009 or 2010.[47][48] Most of his compensation was for "personal security" and charters of private aircraft.[48]
Schmidt is one of the few people who became billionaires (in United States dollars) based on stock options received as an employee in a corporation of which he was neither the founder nor a relative of the founder.[49] In its 2011 'World's Billionaires' list, Forbes ranked Schmidt as the 136th-richest person in the world, with an estimated wealth of $7 billion.[2] Google gave him a $100 million equity award in 2011 when he stepped down as CEO.[50]


During an interview which aired on December 3, 2009, on the CNBC documentary "Inside the Mind of Google", Schmidt was asked, "People are treating Google like their most trusted friend. Should they be?" His reply was: "I think judgment matters. If you have something that you don’t want anyone to know, maybe you shouldn’t be doing it in the first place, but if you really need that kind of privacy, the reality is that search engines including Google do retain this information for some time, and it’s important, for example, that we are all subject in the United States to the Patriot Act. It is possible that, that information could be made available to the authorities." [51][52] At the Techonomy conference on August 4, 2010, Schmidt expressed that technology is good, but he said that the only way to manage the challenges is "much greater transparency and no anonymity." Schmidt also stated that in an era of asymmetric threats, "true anonymity is too dangerous." [53]
According to PCWorld, Schmidt also expressed the following sentiment: "if you don’t have anything to hide, you have nothing to fear".[54]

Network neutrality

In August 2010, Schmidt clarified his company's views on network neutrality: "I want to be clear what we mean by Net neutrality: What we mean is if you have one data type like video, you don't discriminate against one person's video in favor of another. But it's okay to discriminate across different types, so you could prioritize voice over video, and there is general agreement with Verizon and Google on that issue."[55]

The Schmidt Family Foundation

The Schmidt Family Foundation was established in 2006 by Wendy and Eric Schmidt to address issues of sustainability and the responsible use of natural resources.[56] Wendy and Eric Schmidt, working with Heart Howerton, a San Francisco architectural firm that specializes in large-scale land use, have inaugurated several projects on the island of Nantucket that seek to sustain the unique character of the island, and to minimize the impact of seasonal visitation on the island's core community. Wendy Schmidt offered the prize purse of the Wendy Schmidt Oil Cleanup X CHALLENGE, a challenge award for efficient capturing of crude oil from seawater motivated by the Deepwater Horizon oil spill.[57]

Outside interests

Schmidt was on the list of ARTnews 200 top art collectors in 2008.[58] Schmidt is also a member of the Bilderberg Group, and attended the Swiss 2011 Bilderberg conference in St. Moritz, Switzerland.[59][60]

See also


  1. ^ Reuters (April 21, 2012). "Google ex-CEO Eric Schmidt's salary rises to $1.25 million from $1". The Times of India (San Francisco). Retrieved April 21, 2012.
  2. ^ a b c "Eric Schmidt". Forbes. December 1, 2011. Retrieved December 1, 2011.
  3. ^ Schmidt "Google’s view on the future of business: An interview with CEO Eric Schmidt ". The McKinsey Quarterly. Retrieved January 26, 2009.
  4. ^ a b "Dr. Eric Schmidt Resigns from Apple’s Board of Directors". Apple Inc.. August 3, 2009. Retrieved June 15, 2011.
  5. ^ april13_commencement.shtml "April 13: Google Chairman, CEO Eric Eric Schmidt To Give Keynote Address at Carnegie Mellon Commencement, May 17". Carnegie Mellon University. Retrieved March 21, 2010.
  6. ^ (2011-07-11). Retrieved on 2012-09-27.
  7. ^ Tim Walker (December 14, 2012). "Eric Schmidt: Is the executive chairman of Google really the arrogant defender of tax avoidance that his critics claim?". The Independent. Retrieved December 30, 2012.
  8. ^ Ken Auletta. Googled: The End of the World As We Know It. Retrieved December 17, 2012.
  9. ^ a b c d e f Tim Walker. "Is the executive chairman of Google really the arrogant defender of tax avoidance that his critics claim?". The Independent. Retrieved December 17, 2012.
  10. ^ Corona Brezina (July 15, 2012). Sergey Brin, Larry Page, Eric Schmidt, and Google. Retrieved December 30, 2012.
  11. ^ Hart, Kim (June 9, 2008). "Google News, or Lack Thereof". Retrieved December 19, 2012.
  12. ^ McCaffrey, Scott (May 15, 2008). "New Inductees Named to Yorktown Hall of Fame". Sun Gazette
  13. ^ "HOF – Eric Schmidt". Retrieved December 19, 2012.
  14. ^ a b c Ken Auletta. Googled: The End of the World As We Know It. Retrieved December 30, 2012.
  15. ^ Wolff, Josephine (February 6, 2007). "University Library joins Google Book Search". The Daily Princetonian. Retrieved May 28, 2008.
  16. ^ Eric Schmidt (1979). "The Berkeley Network – A Retrospective". Computer Science Division, Department of Electrical Engineering and Computer Science, University of California, Berkeley. Retrieved June 14, 2011
  17. ^ Schmidt, Eric (1982). Controlling Large Software Development in a Distributed Environment (PhD thesis). University of California, Berkeley.
  18. ^ Schmidt.shtml "Stanford". Stanford Graduate School of Business. Retrieved January 26, 2009.[dead link]
  19. ^ "Duffie, Schmidt Named Fellows of Academy of Arts and Sciences". Stanford Graduate School of Business. May 1, 2007. Retrieved December 19, 2012.
  20. ^ Dave Murphy (March 1, 2009). "Google’s Schmidt: 2009 is a Good Year to be a New Graduate". Stanford Graduate School of Business. Retrieved December 19, 2012.
  21. ^ "Loose Ends: Presidential performance". Almanac News. October 6, 1999. Retrieved November 10, 2011.
  22. ^ [1]
  23. ^ a b "Married Eric Schmidt dating concert pianist Chau-Giang Nguyen". New York Post. September 3, 2012. Retrieved December 17, 2012.
  24. ^ "Married Google chairman Eric Schmidt spending time with attractive 45-year-old brunette Lisa Shields". New York Post. July 28, 2011.
  25. ^ "Brian Grazer’s ex-fiancee still sports his diamond ring". New York Post. September 29, 2012. Retrieved December 17, 2012.
  26. ^ "Dr. Eric Schmidt Appointed Chairman of the Board and Chief Executive Officer of Novell, Inc.". News release (Sun Microsystems). March 18, 1998. Archived from the original on May 22, 2008. Retrieved June 14, 2011.
  27. ^ "CEO Eric Eric Schmidt stood out because he 'was the only candidate who had been to Burning Man.'" From "Markoff and Zachary on Google"; quoted are John Markoff and Gregg Zachary. See also Business Week's "Eric Eric Schmidt, Google" from September 29, 2003: "One of the first orders of business was joining his new 20-something colleagues at Burning Man, a free-form festival of artistic self-expression held in a Nevada desert lake bed. Sitting in his office shortly after his return, tanned and slightly weary, Eric Schmidt couldn't have been happier. "They're keeping me young," he declared."
  28. ^ "Amendment No. 9 to Form S-1 Registration Statement Under The Securities Act of 1933". United States Securities and Exchange Commission. August 18, 2004. p. 29.
  29. ^ "Google Management: Eric Schmidt, Executive". Google Inc. Retrieved June 14, 2011.
  30. ^ Null, Christopher. "The 50 Most Important People on the Web". PC World. March 5, 2007. Retrieved on March 5, 2007.
  31. ^ The Market's Best Managers –,
  32. ^ Brendan Wood International Announces 24 TopGun CEOs in the US,
  33. ^ "Larry Page is officially Google CEO again". Silicon Valley / San Jose Business. April 4, 2011. Retrieved June 14, 2011.
  34. ^ Foley, Stephen; Rawlinson, Kevin (April 2, 2011). "Google chief ‘tried to bury his donations'". The Independent (London).
  35. ^ "Google gets look at NKorean internet". 3 News NZ. January 9, 2013.
  36. ^ irk, Donald (4 February 2013). "A quiet envoy to the hermit kingdom of North Korea". Christian Science Monitor. Retrieved 4 February 2013.
  37. ^ "Google CEO Dr. Eric Schmidt Joins Apple's Board of Directors". Press release (Apple Inc.). August 29, 2006. Retrieved June 15, 2011.
  38. ^ Eric Schmidt’s Newest VC Fund. Business Week (2011-07-28). Retrieved on 2012-09-27.
  39. ^ Carney, Timothy (2011-04-02) Google not proud of its politicking, Washington Examiner
  40. ^ Langley, Monica; Jessica E. Vascellaro (October 20, 208). "Google CEO Backs Obama". The Wall Street Journal. Retrieved October 20, 2008.
  41. ^ Mary Anne Ostrom (October 21, 2008). "Google CEO Eric Schmidt to stump for Obama". San Jose Mercury News. Retrieved June 15, 2011.
  42. ^ "Gore/Alliance for Climate Protection: All-In for Plug-Ins". Retrieved March 21, 2010.
  43. ^ Membership list of PCAST. Retrieved on 2012-09-27.
  44. ^ New America Foundation, Board of Directors, accessed May 11, 2010]
  45. ^ Ken Auletta (2011). Googled: The End of the World as We Know It. Virgin Books. ISBN 978-0-7535-2243-1.
  46. ^ "Google Inc. Definitive Proxy Statement". Schedule 14A. United States Securities and Exchange Commission. April 6, 2007. Retrieved June 15, 2011.
  47. ^ "Google Inc. Definitive Proxy Statement". Schedule 14A. United States Securities and Exchange Commission. March 29, 2010. Retrieved June 14, 2011.
  48. ^ a b "Google Inc. Definitive Proxy Statement". Schedule 14A. United States Securities and Exchange Commission. April 20, 2011. Retrieved June 15, 2011.
  49. ^ "Earlier this year, he pulled in almost $90 million from sales of Google stock and made at least another $50 million selling shares in the past two months as the stock leaped to more than $300 a share." Mills, Elinor (August 3 2005). "Google balances privacy, reach". CNET. Archived from the original on 2005. Retrieved November 15, 2006.
  50. ^ Baldwin, Clare (January 23, 2011). "Google to give outgoing CEO Schmidt $100 million". Reuters.
  51. ^ "Google CEO Eric Eric Schmidt on privacy" YouTube. December 8, 2009. Retrieved March 21, 2010.
  52. ^ "Media – Facebook must be weary of changing the rules". December 11, 2009. Retrieved March 21, 2010.
  53. ^ "Google's Eric Schmidt: Society not ready for technology". CNET. August 4, 2010. Retrieved August 7, 2010.
  54. ^ Bradley, Tony. (2012-03-24) Hey Employers-My Facebook Password Is None of Your Business. PCWorld. Retrieved on 2012-09-27.
  55. ^ Goldman, David (August 5, 2010). "Why Google and Verizon's Net neutrality deal affects you". CNNMoney (CNN). Retrieved August 6, 2010.
  56. ^ "About Us". Retrieved January 22, 2012.
  57. ^ Schmidt-oil-cleanup-x-challenge "X PRIZE Foundation Announces Wendy Eric Schmidt Oil Cleanup X CHALLENGE". Retrieved September 15, 2012.
  58. ^ ARTnews, The ARTnews 200 Top Collectors, 2008. (2008-07-01). Retrieved on 2012-09-27.
  59. ^ Skelton, Charlie, "Bilderberg 2011: The tipping point", The Guardian (UK), June 16, 2011
  60. ^ "Bilderberg 2011 list of participants". Retrieved August 24, 2011.
  61. ^ John Battelle (December 1, 2005). "The 70 Percent Solution: Google CEO Eric Schmidt gives us his golden rules for managing innovation". CNN Money magazine. Retrieved August 12, 2011.

External links


Google's Schmidt to sell roughly 42 percent of stake

Google Inc Executive Chairman Eric Schmidt is selling roughly 42 percent of his stake in the Internet search company over the coming year, Google announced on Friday.

Schmidt will sell 3.2 million shares of Class A common stock through a stock trading plan, Google said in a filing with the U.S. Securities and Exchange Commission.

The plan, which Google said would give Schmidt "individual asset diversification and liquidity," allows Schmidt to spread trades out over a period of one year to reduce the market impact.

Schmidt, who served as Google's Chief Executive until 2011, currently owns roughly 7.6 million shares of Class A and Class B common stock. The shares represent 2.3 percent of Google's outstanding stock and roughly 8.2 percent of the voting power of Google's stock.

Shares of Google, which finished Friday's session at a new closing high of $785.37, were down $2.21 in after hours trading.
(Reporting By Alexei Oreskovic; Editing by Tim Dobbyn)


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