eric schmidt, chairman of google, recently said that amazon is their biggest rival in search. >> to qualifyhe made the comments during an antitrust meeting. there was an incentive to highlight the competition, obviously. but i think there is some truth to it in this case. 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 it is in, you know how to select prime or not. you don't get those features. google is doing something interesting. they are taking on this endeavor called google shopping express, which i cannot make the math work. i am waiting for someone in the press to follow 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 drones as well. >> don't get me started on drones. i think the drones and the self-driving cars are a distraction to keep the media from talking about the topics we just talked about. >> you are not a fan of self-driving cars? >> i find the whole drone thing distracting. amaz

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

. ♪ >> man: tonight we explore the ideas of google chairman eric schmidt and his colleague jared cohenn their book, "the new digital age." they write in compelling and personal terms about the impact of technology today and the implications for tomorrow. our moderator is bestselling author and facebook chief operating officer sheryl

>> next googles eric schmidt and jonathan rosenberg talk about the lessons they've learned and how the website work today. during the event hosted by the computer history museum in non-view, california, the co-authors of "how google works" are interviewed by marissa mayer, president and ceo of yahoo!. this event is 75 minutes long. speed back our subject tonight is "how google works." we will examine that question in more than just theory. executive chairman eric schmidt and stabs you are here and they will be discussing their new book by the same title. "how google works" is surprisingly candid and filled with panic notes. most of all, it is an authentic inside look at the culture and practices behind one of the world's most successful companies. what a moderator we have to lead the discussion. president and ceo of yahoo!. the 20th employee. she saw a lot of this from the end died and is now seen it from the office and i can't wait for them to get started. please join me in welcoming eric, jonathan and marissa. [applause] >> i am so delighted to be here tonight. i will say i have gott

we have seen how google's then-ceo eric schmidt was bending over backwards to not alienate jobs. don't want anymore of that. >> he was on the board at the time. >> yes. >> who will get that settlement? >> that will be spread through tens of thousands of -- the lawyers get a quarter of it then these tens of thousands of engineers part of the class-action. >> the lawyers get a quarter of it? $100 million and then some. we should take a selfie, don't you think? our first selfie. there we go. we will figure it out. brad, thank you very much. if the latest headlines all the time on your phone, your tablet, bloomberg.com and on bloomberg radio. ♪

we already see how the ceo eric schmidt was bending over backwards to not alienate jobs.es just do not want any more of that. >> who will get the settlement? >> it will be spread through tens of thousands of these. the lawyers get a quarter of it. then these tens of thousands of engineers part of the class-action. >> brad stone, thank you very much. we should take a selfie, don't you think? it will be our first selfie. put it on. there you go. we will figure it out. thank you very much. her member you can always get the latest headlines on your phone, tablet, and bloomberg radio. we will see you tomorrow with more of "bloombert west." ♪ . . >> from bloomberg world headquarters in new york, i'm mark crumpton and this is "bottom line" -- the intersection of economics. we begin with the fed's latest snapshot of the economy -- the fed's beige book. peter cook joins us with the details. >> the beige book, reviewing economic activity from

google chairman eric schmidt says can exempt off eyes -- ken exemplifies the -- american express has been a supporter of this program for a number of years. for that, i am both grateful and appreciative. thank you and it is good to have you here. tell me what informs you about the change elements and how a company responds. >> the times we live in today the convergence of the online and off-line world. it is resenting possibilities -- presenting possibilities. what is important is you cannot look at your business in a narrow way. but me give you one example. it would be wrong for us to view ourselves as a company facilitating payments. if we look at one of the major developments it is platform companies. amazon, alibaba google. we view ourselves is not just a company facilitating payments but as a platform company that is delivering services. we have the most integrated payment platform. what we are focused on is how do we change the commerce experience and become even more meaningful in people's lives. >> it is important to define who you are in times of -- terms of what kind of com

. >> next googles eric schmidt and jonathan rosenberg talk about the lessons they've learned and how the website work today. during the event hosted by the computer history museum in non-view, california, the co-authors of "how google works" are interviewed by marissa mayer, president and ceo of yahoo!. this event is 75 minutes long. speed back our subject tonight

the case was largely based on e-mails between steve jobs and former google ceo eric schmidt. adobe down 1.5%. >> corporations must change the way they engage young talent or risk being left behind that's according to the millennial survey timed ahead of the release next week. let's bring in steve. it's a pleasure to have you on. >> nice to be on. >> really interesting story your survey around millennials and i want to understand what do you think is driving this change? what is driving millennials to change the way they look for a job? >> first with the good news millennials continue to be very positive about business and the impact it makes on society as a whole. but i think there is a very strong message for business leaders. i think business leaders need to be just as focused on people and purpose as they are on products and profits. so meillennials haven't changed that much that they look for a business that exhas a strong sense of purpose and most of them say their company still does have a strong sense of purpose but more challenging is business leaders think they're to

people attending the forum include bill gates and eric schmidt from google.. >>> a dock in richmond was sunk last month by a big storm. how city officials now plan to take advantage of the damage and build something bigger. >>> and a best picture nominee. after the break, the reap "american sniper" is getting serious heat over that baby. >>> 8:24. a british tabloid is ditching a rather controversial feature that's been in its pages for nearly half a century. the tabloid called "the sun" has stopped printing photos of topless models on page 3. it's been doing that since 1969. women's groups have complained about page 3 for decades while they say progress is being made, they've not won the battle yet. "the sun" will still public photos of scantily clad women, just not topless. >>> "the interview" is headed to netflix. it will make its debut on netflix on saturday. sony pulled the movie from most theaters last month when cyber criminals threatened violence against moviegoers after president obama and some in hollywood criticized the move, sony released the movie

that's something his pals, mark zuckerberg bill gates eric schmidt, they want that desperately. would he veto it and stick his veto pen in their eye or would he sign it. i don't know what the answer to that is. that will be an interesting question to see. let me stop there. i've ranted on. i could rant on for hours and hours. you can all fall asleep. but i'm sure you all have questions so why don't we go to questions. i have to have provoked somebody. go on. >> several kwers. sounded like you said you didn't think the tech visa bill would be a good idea. can you just tell us why. >> well you could buy my booklet and i explain it a little bit in there. but basically the way -- h1b visa is the worker visa used mainly for tech workers. it's presented as a best and brightest. there's all these smart computer people in india and we need to take them here, otherwise canada will get them and that's terrible. because we don't like canada. i don't know why. i like canada. but it's silly. it is a cheap labor reason. all the research show people on h1b visas have lower than average skills

but i think we really need to hurry up because the over day in davos eric schmidt hit the internet is going to disappear. so we better hurry up. we'll videoahave a series of keynotes and then go into breakout sessions. and a lot of folks in later sessions are coming in from out of town and got sucked in in new york and boston so we have a few fill-in folks. look to your agenda. one note that jerry is not going to be with us today. so every keynote we have this morning is female. which i think is really, really awesome. and we have a panel on diversity and tech later in the day that will punctuate that happenstance happenstance. right now mr. bedoya is going to have a keynote conversation with a edith ramirez. and i'm super excited. so welcome, please. [ applause ] >> good morning. chairwoman. i'm thrilled to be here with you this morning. >> good morning. delighted to be here and i want to thank everyone for being here this morning and i want to thank tim for the invitation to join you. >> awesome for braving the snow in d.c. you are effective think makes the's leading consumer privac

we need to hurry up here the other day in davos eric schmidt said the internet is going to disappear. we need to have the state of the net before it goes away. a series of keynotes. starting off we go right to lunch, then breakout sessions. a of folks are coming in from out of town. got stuck in new york and boston. jared polis is not going to be with us. every keynote we had this morning's female which is awesome. we have a panel on diversity in technology later in the day which will punctuate that happenstance. i would like to introduce the director of the center for privacy and technology at georgetown. he will have a conversation with the chairman of the ftc. this is the first time we've had an ftc chairman. i'm really excited. welcome. [applause] >> good morning, chairwoman. i am thrilled to be here. >> delighted to be here. i want to thank everyone for being here and for the invitation. >> for braving the snow in d.c. when you are the nation's leading consumer privacy officer. you have to do a lot of the picture thinking around privacy. i went to focus on the internet of things.

. >> if i were tim cook and i had eric schmidt on apple's board and google comes out with an android and chases after my core business. >> that's three or four years ago. i hear you right? i would kick them out but for the economic benefits to google whoever wins that deal all the economic benefits will flow to apple. just the amount of revenue they have to pay out. >> it's a mind share. >> so you think there's no number? there's no profit number attached. >> a little. maybe 80 or 85% of the benefits flow back to apple. apple can't lock google out of their platform. >> thank you for joining us again today. it's good talking to you. >> the big global market story. a surprise interest rate cut. jeff joins us from moscow this morning, jeff. >> yeah hey, good morning to you. well it just shows the russians still know how to spring a surprise occasionally. no one had this pencilled in as a rate cut today. the analyst consensus was there would be no change because inflation still sitting arn 12% and they expected it would top out somewhere around 17 but clearly the russian central bank has

and you might remember, steve jobs and eric schmidt had those sequence of e-mails that went back andractive. some unattractive facts, as they say, in those e-mails. >>> a new product from the former real housewife of new york who created the skinny girl line of alcohol. bethenny frankel is now launching marijuana that won't give smokers the munchies. >> how do they know? is it a gmo? >> i want to say this woman is brilliant. she can come up with a skinny girl vodka. then she knows how to -- >> how would you come up with a marijuana that doesn't give you the munchies? >> you have to take something out of the strain right? >> you have tho know what the hell you were doing which i don't think she does. >> what i imagine happens in one of these instances is there's an investor somewhere who comes up with this idea and she is all right associated with the skinny girl thing. >> i get that. the way -- we've been breeding things for hundreds of years the long way. now we got a short way to do it. but everyone who's politically correct think you're going to die if you use anything genetically

. >> associate warden eric ivey has decided to send schmidt a message. >> we pull him out, i want to put him in the chair because i want to have a little talk with him. >> ivey instructs the jail's special response team to extract schmidt from his cell and place him in a restraint chair for a face for face meeting. >> let this guy know that we're not going to play games. he's not going to have us run around all day with his nonsense. they examined him a couple times. they deemed him to be behavior. which means basically he knows what he's doing and he's trying to manipulate us. >> step back with your feet. don't move! behind your back, behind your back. >> why are you guys so nervous? bunch of [ bleep ]. [ bleep ] [ bleep ] straight [ bleep ]. all right, see you, bitch. [ bleep ] with the wrong president, idiots. secret service, take him out afterwards. what's up? what's going on with you? >> nothing. it's your guys' crooked-assed system, so -- >> okay. i'm just concerned about the way you're behaving since you've been here. >> what was i doing wrong? >> there was an issue, from my u