Wednesday, December 3, 2008

Times change. Even for Google.

Less than six months ago, Eric Schmidt, the CEO of Google said this, when asked about the recession and general slowdown:

"What recession?"

Today, when the stock price is down more than half, and growth is shrinking, Google is "ratcheting back spending" and cutting new projects. Eric Schmidt said this in an interview:

"We have to behave as though we don't know what's going to happen."

I think he never did know what was happening or what was going to happen. I am glad he's caught up. He should use Google to look up more information on the economy.

Reminds me of the famous Orson Welles quote, "I started at the top, and worked my way down."

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