Schmidt sounds like a college brochure. Thiel sounds like a senior that’s telling you how the game is really played

Never seen such an emotionally charged discussion by prominent tech leaders.

I love the mischief Thiel injects into these discussions.

I think it would have been better if Larry Page was there instead of Eric. Larry's the real mind behind Google's current strategy

Man, Thiel takes Schmidt apart, merciless. Love it!

Peter Thiel basically just became a billionaire so he can have this 30 minutes with Schmidt lol

Is it me or does Schmidt often come across as slippery?

I love the energy theil brought to this

2012...it's 2018 and Amazon / Apple has managed to hit the $1 Trillion cap. Revenues are still heavily reliant on search..... This did not age well for Schmidt

This was a very interesting debate in my opinion. It's rare to see tech leaders get so emotional about global issues and more importantly I think it's educational to hear what they disagree on and here is my summary of the most controversial statements from this debate: 1) Last 40 years in the US were a stagnation in terms of wages and innovation in such areas as transportation, clean energy, health, agriculture. 2) Progress in computer and IT industry contributed too little to the economy and people's lives. 3) IT companies with billions of dollars of cash should focus much more on such areas as transportation, clean energy, health. 4) Google has invested more in such areas than other computer/IT companies, but still very little and most of the money is burning away and should innovate more. 5) Internet and social media played a negligible role in helping topple governments in the Arab world. 6) Technology should have a large enough effect on the economy that governments (that operate at a performance level of US governance in the last 40 years) should not matter much.

Peter's basic premise is that regulation is holding all innovation back because they force innovators into a pre-determined set of cookie cutter shapes. In order to have LEAP in innovation, you need to release the strangle hold on creatives and artists and engineers to really unleash the power of free markets.

why don't you shoot it with a lower quality camera man this is so sharp it's hurting my eyes

Drug addiction. Has Eric Schmidt seen San Francisco recently? I love coming back to this every year. Sometimes 6 months or so.

Drug addiction is lower? This debate was 2012 so I guess fentanyl reversed that trend.

Thiel’s Ritalin kicked in hard here

VERY GOOD INFO THANKS!

peter thiel knew all this in 2012???? and the GOP put up Romney?

Basically, education needs to go online, and it needs to be more focused on what interests people or what they want to do with it. Eating up years of people's lives and taking tons of their money, on what will often be bad life investments - because the jobs you get with your degree don't make you that much money - is generally a bad idea. Also, much like how entrepreneurs, or new businesses fail, people need to be able to fail at a given vocation, find out that its not for them, and be able to cycle out to something else quicker that does work for them. A system that tries to eat up 4-10 years of your life barely and only partially preparing you for a given domain, is ultimately just not based in a good investment strategy that really favors the long term well being of the people or the economy.

shame we never got to see Thiel and jobs share a stage like this...would have been golden

This was a very interesting debate as I have never seen two people speak so passionately about technology. Innovation in technology could really change the world, we just need to start paying more attention and putting more effort into the tech companies that are just as passionate about technological innovation and its importance.

The facts of both individuals were correct, but Peter won. Yes, Schmidt is right - people are living longer on average, and developed nations are developing. But these are distractions, because having the third-world catch up is *not* technological growth and innovation. Where we are isn't defined by the average, it's defined by our greatest advancement. Like Peter said - where is the flying car?

This is a heated debate! (aprox 19:30) I hope more people get to watch this video, these guys are brilliant :D

This structure of "debate" is horrible. Just three people cutting in and making comments over each other. Give each person 1-2 minutes at least to speak without being interrupted. -Austen

Very fascinating debate.

Thiel is very in the moment here - impromptu style. Fascinating to listen to him when he's in this mode as it's quite different to his typically very measured style of communication.

two great minds very interesting debate

It's a great conversation. Just wow

I'm still waiting to hear from these guys their predictions on the future of employment with the anticipated escalation in automation, and to what extent each sector of the economy will be impacted. And, I am waiting for an explanation as to what quality of life younger generations will experience as "Education" ruins many millions of people taking on these colossal loans to go into a sector that could ultimately dismantle their opportunities at having a career, or livelihood.

Great conversation.

26.35 its so savage when interviewer did not recognize the fortune editor and Mr. Schmidt tease him HAHAHA

I just came here because i saw a clip of this in a video by Garry Tan. Only one word is enough to describe Peter: *LEGEND*.

its not hard to tell in these types of debates who is constrained and who isn't, who is really speaking their mind and who isn't.

Why does this look like it was filmed in the 80s? xD

Not sure why Peter kept interrupting Eric Schmidt .. I think both of them had very interesting points that didn't really come across because they kept deflecting each other and trying to land blows.

I think both men came out of this looking very intelligent and considered. Very insightful points made on both sides

Wow Peter Thiel is a breath of fresh air - absolute pleasure listening to him speak.

In hindsight, Thiel got vindicated on almost every issue.

Let Eric speak, Mr. Thiel.

benefit those "with a certain amount of income"

Thiel is an incredible man and makes some good points both here and in Zero to One, but is wrong about increasing food prices. Food shortage is almost always politically driven, there is no shortage of food. As for food production, the majority of the industry has got it wrong, no technology beyond what we already have is needed to increase production to keep up with a growing population, and the current way of doing things is akin to a drug addiction that degrades the landscape. Management practices that increase production without degrading the land already exist, they’re just not widely adopted. It’s a pity that these rich technology people can’t be informed of that but I guess when tech has solved everything else for them and made them so wealthy everything begins to look like a nail.

12:05 Schmidt "people are living much longer" meanwhile life expectancy has declined for the last few years in the US

They should have done a more structured debate where people take turns

this was so scattered

Who else is watching this because of college work lol ?

Thiel is just smarter than Eric and he has a better command of the facts. Plain and simple. Side note: It's important to remember that Eric did not build Google, he was brought in later as a senior management hire. Thiel built revolutionary companies from the ground up, was a chess master and was one of the highest ranked Chess players in the US as a teenager. *Ding Ding Ding* fight's over, no contest.

i think it's Thiel on the left I can barely distinguish the pixels

looking at FAANG stocks, Amazon has risen the most. FB is second. Seems like Theil was right about which companies are innovating at least...

Thiel's final comment about engineers was the final nail in the coffin.

It is Simple. Just look a blight side. Encourage people and company. Being a cheer leader is the key.

I know certain demographics like this type of popularist approach to an argumentation process, which Peter is a good example of (constantly throwing punches); however, if you really listen to Eric talk, you understand that he actually did try to answer to Peter's accusations and made his own sound arguments in a, most of the time, civil way. This is not to say that many of Peter's arguments were solid, I simply love his energy and when he "attacked" Google on the lack of invenstments from them. But, he chose to communicate most of his arguments through the lens of Romantic interpretations of process and innovation -myths like David and Goliath, a bit like how Apple came to be in the IBM era. Peter's young companies needed that.

""Let them eat I phones"

"Monopolies are legal as long as you don't abuse it"........nice idea

That's how intelligent debate without abuse but with cheap shots and sarcasm

What role do beachside clubs and rap music producers have to do in all this?

I'm more confused after watching this video. Like every other debate.... There came no conclusion

You cannot defeat reality in a debate. You can piss on someone's boots, and tell them that it is raining, but what you cannot do is still expect them to believe you when you consistently demonstrate the exact opposite of what you say.

*"Its Quite Legal to Have a Monopoly As Long As The Company Doesn't Abuse its Power" Peter Thiel* *Or Its Quite Legal As Long As One Isn't Caught Doing Illegal*

I havent met one person that said they happe they have retired.. not a single one..

i don't get why Thiel is mad at Eric. They are discussing complex issues and each have points that are valid and each see the world with a different len, so what's the frustration about?

Loved it! I think Erik is mostly in the right here, clearly Peter's agitates

The perfect buddy

Enjoy Thiel's point about how Google is not investing in people but computers. Technology is a conduit, a very good one at that, but not a catalyst of change (think Arab Spring).

It is technology world but it has to be made simpler for everyday users they are still not there with safety aspects given in consumers hands, but can be created.

what was that 80's porn music at the start?!

materiality of material and metaphysicality of intelligence

Interrupt much Theil?

This is an excellent post. It shows how civilized intellectuals should have a disagreement and shake hands in the end with humour. I agree with points that both have made but I lean more towards Eric. I think Google has done tremendously well to assist businesses which have, because of it, innovated and moved the needle forward. Chrome is only a tip of the iceberg on what they've given away. My favourite example is Android. Without Android, you wouldn't Amazon TV. Did you know that? Of course, one can also argue that without Linux you wouldn't have Android - also true. Maybe Google can do more but not by much because of other restrictions Eric mentioned. Again, great discussion.

This is gold

Head to head battle of the titans of optimism and pessimism. Good to see that even billionaire loose their cool in a debate about the future.

I side more with what peter had to say but yeah he needs to take it little easy.

the reason why thiel interupts is because eric is directly saying he is wrong

Futurist vs salesman.

Who was the moderator? WHY DIDN'T HE IDENTIFY HIMSELF?

I generally really like peter theil, but the way he "debates" really got under my skin. He kept interrupting, using political debate tactics like every time Eric makes a good point he changes the direction of the conversation. He seems to want to be right more than to have a productive conversation. Although it also seems a little good humored to be serious, I think thats an indicator of these mens integrity. I mostly agree with Peters premise, just not the magnitude with which he prescribes to it. I feel like he has a message he wants to get across and is pushing too hard (inaccurately) to make his point. In his defense, I don't think the message will get across without some propaganda and I think it's important to get that message across, though I truly doubt if the US can do that, maybe in China or Norway, somewhere with a more unified populous.

my god, the vultures started circling as soon as they heard Thiel's opening argument, but by the end of the debate there wasn't a single scrap of Schmidt left for them to feast upon

Eric is completely wrong about the Arab Spring - and if he claims that his personal knowledge is what makes him disbelieve the macroscopic facts, then he must have been consorting with very well-off people in those middle-eastern countries. The top 1%ers who were least affected by rising food prices. I'm with Peter on this one, it's really outrageous to claim that masses of people not being able to afford basic food was less important than having obscure Western values overhaul their entire culture in the span of one season.

this is hardly a debate, It almost seems like Eric has no idea what he's talking about

6 years later and all we have is massive stock buybacks!

i think enabling people financially to afford them more free time and energy to contribute to action-ably creating an improved tomorrow and foreseeable future would create an improved tomorrow and foreseeable future, along with both flexible open eloving education and focused production. they are in no particular order really, so don't get discouraged if an aspect of it is not currently in our power. services and information user interface, housing and amenities, land, utilities, food and nutrition(including grocery store), water, transportation, medical, daycare, and anywhere job income, are the main arenas to focus on and transform and advance to excellence. at the moment they seem to be vital cogs in the machine, anything else would be a distraction and a delaying of the inevitable. i think changing the inevitable is a sure quick way, perhaps necessary, to move the wheels of progress. it enables people to focus more on bringing about change simply by freeing up peoples time and energy investments, especially of those of lower income people that are dependent and are fueling the power of that which resists progress and better for people. i am a huge proponent on hacking life and reinventing what is possible. i want the lifeless parts of the market place, internet, software, and technology to naturally become obsolete as new life blossoms forth. so perhaps some venture capitalists can create these things, i think it would be most effective if it was available for the whole world or country under one non competing identity(like one company or brand or shared movement or policy of which bands under common ideals of sustainability and lower cost of services). i think it will be very effective in accelerating technological progress along with all forms of progress. so the idea is to reduce costs for low income people as much as possible along with being sustainable to ensure not becoming obsolete, and then to accomplish it, only once accomplished will further progress become much much faster or feasible or visible or possible. the potential final forms this may take, that i am aware of being the current candidate to implement are: housing(3d printed or not, hempcrete, hempstone, hemplastic, earth ships, transportation is largely needed for the housing and land to work due to geographic availability of land and resources). even if it isn't the final form i think its a good transition toward a freer platform. sustainable, lowest power, highest efficiency, functional form, domestic and local house amenities: capacitor current recycler, vertical fridge and freezer, full spectrum lights, heating coupled with open air dehydrator, induction cook top, water heating, oven, blender, juicer, miller(local), nut butter stone grinder(local), beehive(local), low water dish and clothes washer, o3 infuser to replace clothes detergent, low consumption essential diy hygiene products(toothpaste, shampoo, ect), magnetic water softener, water programmer, cheap hemp clothes shoes blankets rugs towels, cheap healthy cookware and glassware, cheap low water faucets, fans and air filtration, wired or beamed internet and phone, production accelerating and distraction reducing technology tools(computer, phone, software), and more. hyperloop, vacuum tube, electric cars, bikes, trucks, motor-homes, and low cost public transit and taxi's, and low cost cargo shipping. cheaper solar panel systems and batteries is perhaps required or advantages for food production on a domestic and local scale. would also get more people on solar which would effect other things. estimated average electric bill per year without fossil fuels is $700-900 with electric car, per person for basics. 6-9 kw solar panels and 14-21 kw+20 kw battery per person. main food consumption from domestic and or local food production and grocery store (not a private interest business). grocery store would be like a local kitchen, it would operate based on what the people desire to eat to form a closer sync with food provider and food consumer. sustainable and low cost water consumption(domestic if possible) and purification, and domestic waste management. sustainable local jobs(located near all viable living areas based on settlements and water availability) and internet jobs, focused on fostering low skilled people, too free people to reduce the fueling of the unpreferred systems to speed up the creation of new technology and a better world. if the businesses go bankrupt from employees not working their, then their unsustainable lives will be revealed to them and they will venture onto the path of sustainability. of which unconditional love, compassion, joy, and celebration are the only actual sustainable things there are. if there were companies that could provide a complete or more complete system / path for people, all the necessities with out money down or interest, along with a humane job to pay it off, i am sure there are a lot of people that would be on board, which would fuel that kind of system.

Mr. Thiel killed it. Surprised how rattled Mr. Schmidt became when having to defend his positions.... Also, I believe Mr. Thiel's mention of Russian Grand-masters was a veiled reference to the two games occurring on this stage... Checkers and Chess

Thiel's arguments make more sense. Did not like him cutting Eric though.

Peter makes Eric look stupid. I agree with Peter completely. Eric lives in a google bubble and can't see the forest from the trees.

Oh, Theil had no idea how much worse it was going to get with Google by 2018. Peter Theil definitely called it with many things.

I think Peter has great sense of humor .

Ouch, let them eat iphones!

Drug addiction is lower. Because of addiction to prescription drugs hence the opioid crises of recent years. Argument destroyed.

Let Eric Schmidt speak. Both Peter Thiel And Host are hardly letting Eric speak and Eric is being so nice to both of them.

Politics is the safe word for big corporations to place the blame on someone other than themselves. Because politics has no face.

Peter is so very very smart… wow, astounding!

Not sure if that is fair to say google has no ideas! Chrome, android, chrome book, pixel phone, google glass (which was shelved), google docs, G Suite these are the only things I know about.

I believe what Eric alluded to at the very end is a derivative of Poe's law....

Schmitt just doesn't get what peter is trying to say. Peter wants change he wants a new Internet, a new lightbulb, a new Google. something that would revolutionize the world

This was a lot of fun

they both have interesting points. too bad we couldnt hear their argument cuz theil kept cutting Eric off and going off on too many tangents for there to be a back and forth conversation. he treated this like a lecture, which is not constructive. Debates should reveal best arguments from both sides and lead to each learning a new perspective. I guarantee peter did not gain any new perspective here.

tHIS was IN 2012

absolute savagery from theil

Peter Thiel was a savage with substance in this one.

this aged like Benjamin Button

Eric Schmidt actually thinks of everything through the lens of coding. I read his book and he really lacks common sense in regards with the real world. There's a line in his book where he says every company can copy Google's formula and succeed.

Schmidt dodges questions as if he were in the fucking Matrix and questions and logic were bullets.