When two major tech celebrities meet at a public event, more often than not they tend to stay courteous and sugar-coat their opposition of each other. However, this was definitely not the case when Google’s Chairman Eric Schmidt and Entrepreneur Peter Thiel took the stage at Fortune Brainstorm Tech conference.
Eric Schmidt is the former CEO and current Executive President of Google. Thiel’s claim to fame is that not only he is the co-founder of Paypal, he is also known to be a super-investor in tech ventures.
When the two took stage, Schmidt broke the conversation by stating how technology has come about to play an effective role in our lives. Thiel immediately responded by terming Schmidt a minister of propaganda for Google.
And from there onwards, it was a battle of words. Thiel kept asserting that there is an acute lack of innovation in the tech sector. He bashes Google by saying even though the search giant has been investing in different experimental projects, it “has no idea how to invest in tech effectively.”
He credited Amazon as the only tech company which was actively re-investing in innovation in a way that is meaningful. During the course of this heated debate, Thiel summed his argument against Google in the words, “Google is out of ideas.”
Naturally, Schmidt seemed a little annoyed and kept citing Google’s innovative and successful projects such as Chrome, Android and the likes. But there was not a single point on which the two may have agreed, such was the rivalry between them.