eric schmidt made reference to encryption certificates. if the government or any government or any criminal group access tory can gain the certificate, that encryption is meaningless. saying we will make best efforts to make sure that our network is not hacked, but they need to say if we receive a secret order from any government, any jurisdiction, we will fight this publicly to the highest court of appeals to prevent that. i think that is the obvious best

now google executive chair eric schmidt talks about data collection by private companies and other issues pertaining to google and the tech industry. he is interviewed by "washington post reporter craig kimber. from the cato institute, this is 30 minutes. >> thank you all for coming and thank you to our tv audience on c-span. this is an incredibly -- most august mines in the political and legal circle. i'm pleased that dr. schmidt has agreed to find some time for us in his busy schedule to talk about surveillance. >> thank you for having me in this incredibly important conversation. i'm going to ask a few questions. halfway through, i am hoping to open up the floor to questions so if there's something you have been dying to ask eric schmidt for many years, this is your opportunity. i will start here. when the washington post learned that the nsa was tapping data centers for google around the world, some of our reporters showed a diagram of how this look to engineers, who responded with a fuselage of words that we could not print in our newspaper. i was wondering if you could tell us exact

eric schmidt says ignore elon musk and stephen hawking. artificial intelligence is our friend. even when they say it's not it is always about money. melissa: we start with the markets. the dow losts picking up steam. take a look at. that we're sitting at session lows. we're down 220 points on the dow. look at that 1.25%. the s&p is following suit. down 25 points. the that is 1.2%. the other huge story of the day propelling the market story, it is just getting crushed. look at that almost 60 bucks. breaking below $61 a barrel, reveals surprise inventory increase. opec cutting its demand forecast for next year. that is new. here with me, charlie gasparino, fox business senior correspondent, lauren simonetti from fox business, and james freeman of "the wall street journal." charlie, what do you make of the breakdown in the markets? >> listen, i think it's a good thing. melissa: good thing for the markets down so much? okay. >> i like the fact that consumers and average working class americans are getting a huge tax cut by lower oil prices and lower tax prices, if the fat cats take

eric schmidt made reference to encryption certificates. if the government or any government or any criminal group access tory can gain the certificate, that encryption is meaningless. saying we will make best efforts to make sure that our network is not hacked, but they need to say if we receive a secret order from any government, any jurisdiction, we will fight this publicly to the highest court of appeals to prevent that. i think that is the obvious best step. ask, actually, let me because you talked about a lot of technical solutions, and it seems in the background of this is that while you maybe optimistic on the whole for the future of privacy, you do not seem sanguine about the prospects for productive political change. we have a question from sarah on twitter. 81.ut hr46 i do not know if you have looked at the authorization. but talking about that, legalizing aspects of some of the programs. in case you have not studied that specifically, brought in that a little bit and say is their legislation that you looked at that you feel is h

eric schmidt, chairman of google, said amazon is their biggest rival in search. >> to qualify, he made the comments during an antitrust meeting. to highlightivized the competition, obviously. but i think there is some truth to it. the nature of search is changing. if you were to search for an item to buy from an e-commerce search on amazon, you know where the reviews are, you know the category, you know how to select prime or not. you don't need those features. google is doing something interesting. they are taking on this endeavor ,alled google shopping express which i cannot make the math work. i am waiting for somebody in the press to follow her around one of these vehicles and add up how many stops. i don't see how it can work. >> and they are also trying to do delivery drugs as well. >> don't get me started on drones. i think drones are a distraction to keep the media from talking about the topics we just talked about. >> you are not a fan of it? whole drone thing distracting. amazon today, than they did it, ups did it. >> what about self driving cars? >> i'm more skeptical than m

eric schmidt recently said that amazon is their biggest rival. >> to qualify, he made the comments inantitrust meeting. he wanted to highlight the competition. there the nature of search is some truth. -- the nature of search has been changing. if you are going to search for an item to buy from an e-commerce search on amazon, you know what the reviews are, you know what the categories are, you know whether to select prime or not. now google is doing something really interesting. the are taking on this endeavor called google express, or google shopping express. which, i cannot make the math work. i am just waiting for someone in press to follow around one of these vehicles and add up how many stops there are. i don't see how it can work. >> also they are trying to do delivery drones. >> well, don't get me started on these drones. carsrones and self driving , they are a distraction to keep the media from talking about -- >> so you are not a fan of those? >> i find the whole drone thing kind of distracting. amazon did it, then they did it, and everyone releases a drone. >> what about sel

eric schmidt made a reference to sort of 28-bit encryption certificates. this is for the little lock icon you see on your browser. if the government or any government or criminal group or adversary can gain access to this certificate suddenly that encryption is meaningless. if they commit to saying, all right. we'll make best efforts to protect this within our network to make sure it's not hacked. they also need to say, if we receive a secret order from any government, any jurisdiction, we will fight this publicly to the highest court of appeals to prevent that. i think those are really the obvious best steps that are relatively low effort. >> so let me ask because you talked about technical solutions. it seems like in the background of this is that while you may be optimistic on the whole, you don't seem -- very sanguine about the prospects for productive political change. we have a question on twitter from sarah. it's particularly about hr-4681. i don't know whether you've looked at the intel authorization but really just talking about that legalizing as

when i talk to eric schmidt.t's like, no, no, actually we normally think about these as three to five year -- they weren't using the word tour of duty -- but like three to five year stints, where the person actually learns a job, achieves something significant, proves himself at the end of the job, and then goes on to do something else. ebay focuses a lot on how do we bring the relationships of all the folks who have graduated from ebay and paypal together. and they have the external network tied in. but even, for example, places like ge, in terms of what they used to do -- and they still do -- for executive rotation. but also, how do you then groom all kinds of stars to be an executive at this, you know, huge industrial conglomerate? >> what does silicon valley get that other industries don't yet? >> silicon valley understands that r&d is not just -- like, we hole up in a lab and we invent something, and then -- then, 'tada! there it is.' that actually being present and active in what is going around in the enti

that's the other side of the coin so how given that he respond to the criticisms that eric schmidt alluded to from assange or more recently tim cook? >> i'm not sure about the last two but i think i understand your question. if i answer this like a lawyer it's because i'm a lawyer and you can come back but what we are talking about, the world that i'm in in google is about securing the data vis-À-vis other entities in the world, not google. secure your data is a different thing. a reasonable expectation of privacy i'm talking about is your reasonable expectation for privacy. the government is not going to be getting into your business without there being probable cause established to do so. that is when surveillance is about, the government getting to your information in private communications, your metadata and subscriber information that we might hold on your behalf without being able to get it. the other part of that would be an external party that doesn't have the authorization to get on the security site through when i type a reasonable expectation of privacy that's what i'm talking a

joining me now is eric schmidt who's been covering this story. o you, i understand that you today spoke with the chief of yemen's national security bureau. what exactly did this mission look like? >> well, what he and u.s. military officials said was he mentioned three dozen navy s.e.a.l.s came in off a ship off the yemeni coast to try to rescue luke somers and another south african man who had been held hostage for a little over a year. they came in in a cover of darkness early this morning here in yemen. as they approached the compound, apparently the element of surprise was lost. gunshots rang out. turned out, the captors shot their hostages as they fled. there was a gun battle that ensued. as the commandos went into this compound, they were able to -- [ inaudible ]. >> eric, i'm going to ask you to stand by there as you're coming to me via skype. we're getting a little bit of interference and ambient noise making it hard to hear you. we're going to come back to you. thanks for that. related here, i spoke this morning with nbc news chief foreig

. >> you are backed by eric schmidt and gary yang. we were talking with bill about exit.thinking about an ipo? you think about that later in your company life than you would have five or 10 years ago? >> i don't have specific timing on an ipo. largeour goal to build a independent company. i sold my last company to apple, and that was great. with curbside, we see a huge opportunity. we think mobile commerce is different than e-commerce. there is an opening to help people shop on the go. this is something we see as eventually going ipo and being very large. >> we have seen other companies have similar apps -- you can now order your starbucks before you get there, walk in and pick it up. olivia sterns is looking at , gettingthe last mile those goods the very last mile to the company -- customer. you see it growing beyond curbside delivery? >> we think the technology we built to alert stores that you are approaching has a broad range of applications. problem ofhard alerting stores, restaurants, approachingnsumer without draining the customer's battery. there are all sorts of

. >> now google executive chair eric schmidt talks about data collection by private companies. he is interviewed by "washington post" reporter craig timber, from the cato institute, this is 30 minutes. >> thank you all for coming. this is an impressive group the cato institute has put together. i am honored to be here, and am happy dr. schmidt has found time in his schedule to talk about surveillance. >> thank you for having me in this important conversation. >> just so you know, i am going to ask a few questions. about half way threw i am hoping to open up the floor to questions. if there is something you have been dying to ask eric schmidt for years, this is your opportunity. for now, i will start off here. when the waupt first learned that the n.s.a. was tapping the links between data centers for google around the world, some of our reporters showed a diagram of how this worked. some of your engineers responded with a fuselage of words that we could not print in our family newspaper. i was wondering if you could tell us exactly how you learned this was happening and what are

buy's big bossst eric schmidt -- when we talk about exits, when do we think about an ipo, and do we thinkhis later on in your company life than you would have 5, 10 years ago? >> i don't have specific timing for an ipo, but it is our goal to build a very large independent company with curbside. i sold my last company to apple and that was a really great experience, but with curbside, we see a huge opportunity. we think mobile commerce is e-commerce and there is an opening right now to help people shop on the go. this is something we do see as eventually going ipo and growing very large. >> we have seen other companies have similar acts. starbucks, you can order your copy before you get there. olivia sterns is looking at covering the last mile, how important it is to companies to goods the very last mile to the customer. is that the idea with curbside delivery? yeah, we think the technology we built to alert stores you are on approach really has a bot -- a broad range of applications. there is an opportunity there. but we have solved the hard luring stores to the customer without draining

google chairman eric schmidt says that he provides the best leadership.'m pleased to have ken chenault at this table for the first time. in the interest of full disclosure, american express has been a supporter of this program for a number of years. for that, i'm both grateful and appreciative. good to have you here. tell me what it is that informs you about the change elements, and how a company responds to that, and the responsibility of a ceo. >> what is really exciting, the times that we live in today, it is this convergence of the online and off-line world. it is presenting incredible possibilities. but what's very important is that you can't look at your business in a narrow way. let me give you one example. it would be wrong for us to simply view ourselves as a company that is facilitating payments. if we look at one of the major developments, platform companies. amazon, alibaba, google, facebook. we view ourselves as not just a company facilitating payments, but as a platform company that is delivering services. and we have the most integrated pay

this is the first time according to eric schmidt that any trial has shown this associated with memoryty to think clearly. they are moving forward into a phase three steaudy. >> they have seen side effects. they are associated with the actual removal of the plaque from the brain. those are things they are looking at. they are testing additional doses but feel they have a safe window to go forward with. >> are you surprised with overall strength? >> it has been incredible to see the run they have had especially after the strong year in 2013. we saw a record number and only continue that this year. analysts tell you that is on the back of earnings for these companies. you see companies really putting up strong numbers on the board. that is driving up the whole sector. >> we hope there is more promise in alzheimer's drugs because people are getting older. the number of people with alzheimer's is going to double. >> you find somebody getting younger you let me know. >> thank you so much, meg. >> this is why you avoid this show, isn't it? >> they are going to get a more catchy name. >> it w

perspective on this let's bring in new york times national security and terrorism correspondent eric schmidt and former fbi chief hostage negotiator who is an msnbc contributor. you've been watching it since this morning. i'm curious to hear your perspective. clint, how do you think the negotiations and the negotiators made the decision that police should go in. >> this is a joint decision. one question is whether the negotiators actually had a chance to talk to him or whether like many hostage takers he was using the hostages as intermediaries. he wouldn't talk to the negotiators specifically. that is usually a bad sign if you can't get the shooter on the phone. number two, there's information coming in, the background we know about this guy's background and some of the horrific crimes he's committed. people in the community he's known. we may have intelligence from the building. in essence, law enforcement may have been able to snake in some type of camera or listening device that would tell them if the threat level to the hostages was going up or not. one report suggests that when the hos

eric schmidt posted on his facebook page it was available and go to youtube or google play.e doesn't usually promote many things on social media. your thoughts on that. >> he's promoting the future, something which is exclusive at that time to google and, of course, they're competing with itunes all the time. itunes is the bigger player. when you have this content, this front page story, this hot pop culture item on google and not on apple that's something to really brag about, at least for a couple days. between google play and youtube, they really had a lot of sales there that were able to capitalize on again without any cable vod, itunes on board and it might make consumers think google play is the way to go and not itunes. >> an early leg up for google. we'll leave the conversation there for now. jason lynch joining us from headquarters thanks to you as well. >> when we come back, pinterest looking to make money in the new year. we'll tell you how when "squawk alley" continues. >>> on deck at the top of the hour, only 2 1/2 trading days left in the year and we are going

you know, when i was in north korea last two years ago with eric schmidt of google and we were talking about bringing the internet there, the north koreans did not seem very sophisticated in that arena. nonetheless, this is very serious. this is -- if north korea has this capability against a major american corporation would they have it against the american government. the sophistication surprises me. >> hold on a second. they're talking about this at the white house right now. here's josh earnest. >> i can tell you that consistent with the president's previous statements about how we will protect against, monitor and respond to cyber incidents, this is something that's being treated as a serious national security matter. there is evidence to indicate that we have seen destructive activity with malicious intent initiated by a sophisticated actor and it is being treated by those investigative agencies both at the fbi and department of justice as seriously as you would expect. it is also the subject of a number of daily meetings convened here at the white house that have been led by bot

divorce, a very costly combination for one oil tycoon who has lost more money in three months than eric schmidt a lifetime. ponder that one. "power lunch" is back in two with the dow down 16 points. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. you're down with crestor. yes! when diet and exercise aren't enough, adding crestor lowers bad cholesterol up to 55%. crestor is not for people with liver disease, or women who are nursing, pregnant, or may become pregnant. tell your doctor all medicines you take. call your doctor if you have muscle pain or weakness, feel unusually tired, have loss of appetite, upper belly pain, dark urine, or yellowing of skin or eyes. these could be signs of serious side effects. i'm down with crestor! make your move. ask your doctor about cres

in eric schmidt's book they talked about the debate to pull out of china.s facebook willing to compromise to do what's necessary to be in china. >> i would think you to isolate the data you've got in china because the government is going to want a certain view into that. people are connected internationally. imagine what a tool for spying that would be if china got its hand on overall facebook data based on the spying that they're doing on their own citizens. >> i'll say what i thought when i read it this morning, facebook ends up in china in some form over the next few years. it's inevitable. >> should we feel good about that? >> that's another topic but they're going to do it i think. >> when mark zuckerberg says i want to connect to the entire world -- >> maybe whatsapp goes there first, a one to one communication. there would be -- i'm sure the government would be able to read the messages but maybe that's the first step. >> the nsa wants to connect the entire world. >> being in beijing, wi chat everybody is doing it. ten x what they're doing in the u.s

eric schmidt made a reference to sort of 28-bit encryption certificates. this is for the little lock icon on your browser. if the government or any government or any criminal group or adversary can gain access to this certificate suddenly that encryption is meaningless. they need to commit to saying all right. we'll make best efforts to protect this within our network to make sure it's not macdonald -- it's not need hacked but they need to say we will fight this publically to the highest court of appeals. i think those are really the obvious best steps they can do with a relatively low effort on their part. >> let me actually ask, because you've talked about a technical solution and it seems like in the background of this is that while you may be optimistic on the whole for the future of privacy you don't seem -- very sanguine about the prospects for productive political change. we have a question if twitter particularly about hr-4681. i don't know whether you've looked at the intelligence authorization but really she is talking about that legalizing aspec

later, google executive chair eric schmidt talks about data collection and the tech industry as a whole. supreme court justice elena kagan returned to her alma mater, princeton university, last month for a conversation with the president. she talked about her career, her approach to law and serving on the nation's highest court. she took questions from audience members. this is under an hour and a half. >> welcome, folks. my name is stephen, professor of politics at the university center for human values at princeton. i helped to instigate this event which is brought to you by the university center for human values, now in his 25th year. also brought to you by the princeton university public lectures led by professor eric gregory. i want to thank the university staff who have been involved in this and most especially, -- who has managed any detail. elena kagan, princeton class of has had a distinguished career 1981, of professor of law at the university of chicago and harvard, and also as a member of the executive branch of the united states government as council and domestic policy adv

eric schmidt told us he expects biotech to outperform the broader market for the sixth straight year.hat to watch. if you wanted growth in 2014, you almost had to be in biotech and phrma. stocks in the sector continued their run returning more than double the s&p 500. here are three predictions for 2015. first, drug price wars. it may be the biggest threat to biopharma evaluation. pressure on escalating drug prices, mostly from health insurers, doctors and patient advocacy group. we could see price wars among dreg drugmakers themselves. they will face new competition. second, inmu know therapy. it was a hot topic through 2014. new cancer drugs that harness the immune system. 2014 will be the year immu know therapy becomes investable in whole new ways. two new companies race to bring another kind of immuneotherapy. drug deals. 2014 was a banner year mostly driven by tax considerations fell through. as cash plus bigger companies continue to look for growth. expect biotech, promising products in cancer and rare diseases to be targeted. analysts are watching companies like puma biotech. o

we have heard eric schmidt earlier today talk a little bit about how google moved to encrypt data between data centers, stories about apple and google moving to default encryption on devices. the effort by congress to pass usa freedoms and ball collection of data. there their have been moves by advocates to challenge the constitutionality of. these are but a few of the ways in which we have seen response to concerns raised in particular after the disclosures by edward snowden beginning last year about mass collection of data and some of the exceptional capabilities we have seen in breaking into what were thought to be secure means of communication. so jillian mentions the array of expertise that we have. we will briefly introduce everyone, and then we would like to launch and our discussion with the aim of keeping it as free-flowing as possible. the panelists are encouraged to jump in and respond to one of his points. and then we we will leave some time for questions and answers. without further ado we have lara flint thought the far end, the senate judiciary committee chief counsel for n

will be joined by google chairman, eric schmidt. that, we will have booze and instruction and wwith a really great series of tech experts walk you through technologies. [captions copyright national cable satellite corp. 2014] host: return to liveto coverage about 1:45 p.m. eastern for a panel on oversight of surveillance programs. before that, the google chief incutive chair eric schmidt conversation about privacy and user of trust issues, that starts at 1:00 p.m. and we plan to take that program we will have it for you later on the c-span networks. a live picture of the senate chamber were lawmakers have been to outgoingtes lawmakers most of the morning print remarks from iowa senator tom harkin who is leaving after five terms in office. thexpect for the debate on $577 billion defense authorization bill and the $1.1 trillion omnibus senate bill passed yesterday. see live coverage of the senate debate on c-span two. shortly, we plan to go live to the white house briefing room. we are expecting the start of today's briefing with josh

we will be joined by google chairman eric schmidt, a best friend of mine. we have a really fantastic after that. is secrecy panel with the wall street journal. and of very special closing session you will kick yourself if you miss and after all that we will have instruction in privacy with a great series of tech experts who will walk you through how to use technologies. salinas from lunch. [applause] [inaudible conversations] >> more from the cato institute conference on surveillance. the general tells will for the office of the director of national intelligence joins former nsa analyst discuss the surveillance oversight process. this is an hour and 15 minutes. >> welcome back. our first afternoon panel is going to export issues of secrecy and transparency. a central component of any liberal democracy is accountability of government through the most central checks. the abuse of government power. our assurance that the vast capabilities of the government to serve they are being used a legitimate purposes depends on our confidence in the mechanisms that are o

heard eric schmidt earlier today talk about how google has moved to encrypt data on travel centers.ataou've seen stories about apple moving to encryption devices.er there's an evident by congress to pass u.s.a. freedom, and bulk data.tion of and there have been moves like advocates to challenge the constitutionality of the laws these programs. these are a few of the ways in we've seen various actors inpond to concerns raised particular after the disclosures lastward snowden beginning year about mass collection of data or surveillance. the exceptional breakingies we've seen into what were thought to be communication. so julian mentioned the array of we have here. i will briefly introduce likeone and then we would to launch into our discussion with the aim of keeping it as as possible. analysts are encouraged to jump in and respond to one another's points. with moderator playing traffic cop. leave some times for questions and answers. the senatera flint, judiciary committee's chief counsel for national security. aboutll talk to us efforts on the hill to limit surveillance. advocate andpu

ater, executive chair eric schmidt of google discusses data collection by private companies. >> welcome to "newsmakers." with the release of the senate intelligence committee's report on enhanced interrogation techniques of terrorism suspects and c.i.a. chief john brennan's response, lots of discussion in this town and >> he wrote legal opinions that affirmed use of certain tactics. thank you for being with us. >> thank you for having me. >> he covers washington. thank you for being here. >> thank you for having me. >> we are very pleased to welcome our guest, john yoo. he joined the bush administration. thank you for joining us from berkeley, where your teaching now. let me introduce you chart to reporters. eric lichtblou works for the new york times. he is also written two books that deal with the cia, including the most recent "the c."s next door to her next to him is dan lamothe. would you tell us a little bit more about your arguments? >> ok, sure. thanks for the opportunity. i'm sorry to say is biased. a neutral handed report made a significant contribution. against them by for tw

i hope that you will join us back here at 1:00 sharp where we'll be joined by google chairman eric schmidt. nsa's best frenemy. we have a really fantastic afternoon lineup. we have a secrecy panel. we have a panel on reform and limits to surveillance. and then a very special closing session that you will kick yourself if you miss, i promise. after all that, we'll have basically booze and instruction in privacy tools with a really great series of tech experts who will walk you through how to use technologies to protect your privacy. so thank our panel again, please, and join us for lunch. >>> we are live this morning at the brookings institution here in washington, d.c. for a discussion on federal budget projections. it begins shortly with panel of economists who will talk about whether those predictions are accurate and whether long-term budget outlooks create uncertainty and worry about fiscal policy. among speakers you'll hear from this morning, congressman jim cooper of tennessee, and cbo director doug elmendorf to talk about how to deal with fiscal uncertainty. this is live on c-span3