Google Executive Chairman Eric Schmidt on the Internet era

At the St. Petersburg International Economic Forum (SPIEF), Google's Executive Chairman Eric Schmidt spoke at a panel “The World According to Google.” Schmidt provided insight into the Internet era, including, among other things, the Web’s impact on the economy, democratization and intellectual property rights. 

Schmidt applauded the impressive development of Russia’s Internet infrastructure in his opening speech, saying, “I was in St. Petersburg 17 years ago and just at the beginning of the Internet, and the changes that I have I seen have been so astounding over that period. You all should be congratulated for what you have achieved… To have built such a vibrant infrastructure around the internet in Russia, you should all be congratulated.”

Schmidt also noted that IPOs like Yandex are attracting capital and investment for the next generation of entrepreneurs, creating a foundation for Russia to build on. He concluded by adding that the success of Silicon Valley entrepreneurs can be replicated in Russia, encouraging Russian youth to create innovative online tools that provide services that are currently unavailable on the Web today.

To hear more from Schmidt, listen to excerpts from the Q&A below: