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Thiel: Google has $50B, doesn't innovate

CNN · 230.5K views · 2012-07-17 · 4:19

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Overview

A short CNN clip of Peter Thiel telling Google chairman Eric Schmidt that Google has huge cash reserves and does not know how to invest them. Thiel argues this signals a lack of innovation.

On Hacker News

HN reaches for it whenever big tech cash hoarding, buybacks or stagnating innovation come up.

Recommended by 2 HN people across 2 months · HN mentions 2017–2023

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peter thielgooglecash hoardinginnovationeric schmidt

What people said

heimatau · 2020-09 · Recommendation

Is no one going to talk about the hypocrisy? Eric Schmidt isn't a beacon of sensible innovation pushing America forward. Peter Thiel called him out eight years ago [1] and I strongly encourage you to watch the 4 min clip. [1] - [VIDEO]

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alexashka · 2017-09 · Recommendation

It's not so much about tax rates and I haven't looked into it too deeply - although I'm sure the big companies hire the best accountants to use every loophole in existence. I am referring to this: [LINK] Companies should not be allowed to simply hang on to 250 billion dollars. Imagine what could be done in science, infrastructure, services etc if 10% of that money went towards those things. There's a great Peter Thiel clip about this that sums it up very well: [VIDEO]

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ahmetnoid · 2023-02 · Reference

I remember Peter Thiel once said that investing in google is investing against innovation, that the company had no competition for a very long time, and that they see no reason to why they needed to reinvent themselves. As long as there's no threat to the company, they can just maintain the current tech and harvest the green from it. [VIDEO]

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Sources

Video by CNN, played through YouTube.

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