Eric Schmidt on Google in 2010 and the Economy

CEO Eric Schmidt Reveals ‘Centerpiece’ Of Google’s 2010 Strategy, speaking at the White House jobs summit.

Google is definitely hiring. “We’re hiring a couple thousand people over the next year,” he said.

And looking at the White House summit he said, “The basic message today is that with small business – which is the primary source of jobs – we need to figure out the loan problem. The banks aren’t really lending to them and anything that the government can do to accelerate that, needs to happen right now.”

“Cloud computing is the centerpiece of our strategy. It’s a new model. You basically put all your information on servers and you have fast networks and lots of different kinds of personal computers and mobile phones that can use the applications… it’s a powerful model and it’s where the industry is going. It is the centerpiece of our 2010 strategy.”

Piper Jaffray analyst Gene Munster today said in a note, that by 2016, 78% of Google’s revenue will still be from search. Schmidt agreed.

“My guess is that advertising and search ads will be the lion’s share of our business for quite a long time,” he said. “The reason is, it’s such a large part of our business and it continues to grow quite well.”

I continue to own Google and have it in my 12 stocks for 10 years portfolio.

Related: Google Exceeded Planned Spending on PersonnelEric Schmidt on Management at GoogleMeeting Like GoogleGoogle Should Stay True to Their Management Practices

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