Former Google CEO Calls Social Networks ‘Amplifiers for Idiots’
- Regulation will come if industry doesn’t get its act together
- U.S. antitrust suit against Google is misplaced, Schmidt says
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Former Google Chief Executive Officer Eric Schmidt said the “excesses” of social media are likely to result in greater regulation of internet platforms in the coming years.
Schmidt, who left the board of Google’s parent Alphabet Inc. in 2019 but is still one of its largest shareholders, said the antitrust lawsuit the U.S. government filed against the company on Tuesday was misplaced, but that more regulation may be in order for social networks in general.