Fox News Exclusive

" Well. Unemployment is soaring in the administration is scrambling to guide out who's hiring. Google CEO Eric Schmidt just talking to -- and only to -- You're very good relations of the Obama administration and that of course is subject of the fortune covering the latest issue on I'm gonna I guess that's very flattered by the other is that you must have been banging your head against a wall because there's no way you come out winning what that. What you don't want to be too close any particular administration and they don't wanna be to post particularly to you if people learn from us your thoughts that's where are you gonna go ahead a a and -- from our perspective. The Obama administration has done a number of things that are important from a -- perspective. Most importantly focusing on national broadband plan which somebody all of us can agree we'll bring great. Prosperity to America and give us an opportunity to really -- But they're not above looking into your business or and I trust dishes because with your success a lot of their other friends say well you know. But there are getting too big for the what we expect that and the regulators have a job to do and and we expect -- not just in the United States but also especially in Europe. From our perspective if you look from the meant for it because some minuses of the administration. It's really about innovation. That Google is an example of a company. They can help invent new industries in America can really bring jobs that can really bring the kind of America all of us want be part. The advanced manufacturing Biotech in the other things that America is a world leader in investments there and encouraging the private sector which is where jobs are created that works. On the president lights you personally Iran is variety advisory boards I guess but. How do you like Kent. But a personal basis -- like -- a lot is very very smart. He's a he's a tough thinker and one of the things about President Obama people did not see on the campaign. Was how decisive he was. And given up that set of problems that he has been handed he's been quite decisive giving China you back to -- the do you think you're pretty good about -- Spread himself too far too much I don't but I think that he is I don't idling its presenters are but I do believe our system gets in the way of being a proper CEO. After all the constitution calls for the congress to exist and to do its thing. If you look at what's happening -- legislation. Which is true by the million in the previous administrations well. The congress is is riddled if you will special interest. Their own motivations represented and it could this power system were yeah very difficult to manage to that whether you're President Bush for President Obama -- my heart goes out to both of them on that. But it's a pretty important global executive. Does it bother you that the tone nonlethal when asked what Washington and spend kind of open season -- executives there -- them. And whether -- in the financial industry health insurance industry a big old bulls. It's it's easy to to demonize people. Especially after the harm was done to the average person in our society by the powerful and the elite who essentially precipitated that both the credit. So supply and then the collapse I understand the anger. I would tell you that there's an opportunity now to fix this we have technology we have measurement systems we have open systems and transparency. But it's using its -- far. Do I do I think the personal absolutely it's gone too far but I understand that. I think the solution is not to spend more time talking about what happened -- say how do we avoid these crises in the future. How do we avoid creating all that all the mess right how to put it put to bed forever and we can do that by the way. Using transparency in how computers talk to each other and making remember that in the web. People have a lot of ability to monitor what our government is doing and that's a good thing either itself sort of fix it suffered discomfort these numbers because. Part of it gonna river health care and sort of things as they -- did you get savings but you're good numbers crunchers well. Can you leave it at taxing the top three tenths of 1%. Raising their taxes most Cyprus and other words. It in a couple years bring the top rate. Another ten percentage points higher that for guys like you have billionaires I guess. You can afford it. But do you worry about the direction. I worry that the math doesn't work. And I worry that it doesn't work because when I add up to growth and health care costs and the likely trajectory. And the lack of effective cost controls we will continue to have an underfunded program. And so so okay so so just taxing the rich along won't. Well look the question is who's going to pay for health -- going from roughly 15% of our economy to roughly 21% as most of forecasts say. And remember that increase in percentage drives out investment in non healthcare businesses manufacturing. These they create other kinds of jobs so today as a young person the only industry should go into his health care because that's the -- to be hiring everyone under this have jobs and I think they just -- Google but that's another. Do you look at Google what's happening right now. Everyone doesn't -- Microsoft comparison and that's an IBM comparison other -- their day to got a little cocky models and assure themselves on bulletin upstarts -- along. We want to mention is this you know even. People kids today that on Twitter FaceBook now. And that's their universe and and and for many of them you or not it's the hope will -- everything we've seen indicates that Twitter and FaceBook users are using who believe in more so we know. We're very happy with that. But the general question. Leadership and the sort of -- the next Microsoft. He's really a function of attitude. The company's that you mention made mistakes of years ago -- hopefully we're not making and hopefully the mistakes we're making now will put us in this country predicaments. There are sensitivity toward end users are focused on consumers are focuses on bringing costs down not up. Are focusing on letting people get out to take their information with them. And is a much better model for the information age that these older models to warrant -- don't think you know because of the might of the Comcast NBC discussions. Whether you would be interested in doing something like that I raise it because. To talk to you guys were interested in buying and here tyrants who we have a serious conversations about what to do about content. We ultimately decided to not get in the content business what you seriously looked at today was when we looked at that -- times but also others other institutions and we sort of went on and on -- it's -- rather than naming them would just say we did a survey. Our conclusion was we -- are not very good that it's not a a tip it's not a did it -- wasn't as he would like in his favor no no no to the contrary. We we like information. But we think it's better for those to be managed by the professionals that are managing them and we think well that's the it and when -- to San Francisco on the longer you didn't rule out. What happens I'm careful not to ever rule out anything because that's always a mistake as -- right now. But I would tell you it's highly unlikely we would get in the content business. It's fundamentally better for us to be supplier of platforms and monetization. Revenue and advertising and subscription services to all of these players. We desperately need the newspapers the magazines -- media companies to be successful because we need their content. But the thing we can offer is better monetization better targeting. And a better user experience viewing content created by very very sophisticated people -- of them are pushing his popular then then. With the contest NBC talks if they were spinning off those operations or. Doing any of that. You would you be interested any. As I said it extraordinarily unlikely when Gibson. And when it comes to other. Content providers. On on on the Internet. What about that against similar answer if its content where you have people producing content that viewers are looking at we're better off powering it not writing them down. Would have some who are big salaries. CEO compensation rests. So much of your fortunes built just of them stuck here company that soared over the years. But what do we do about that's the argument is that might put -- capping CEO pay what's the financial industry other industries. Bright truth CEOs. Top lieutenants will find other ways to get rich what's the solution. Well I'm sure that that -- people will find other ways to -- that has been the story of America since its founding. The most important thing to do is to get the alignment of interest correct. The problem with what happened a year ago was that you have people. If you will privatize in the game but they socialize the losses to the government and that's not okay they fundamentally took the money ahead of everybody else. At least in the high tech industry where you have ownership of equity. -- the individuals involved succeed or fail based on the value of the stock over very long time. Not so much better way of aligning the it Soviets into the agency problem where the CEO may or may not be working for in the interest of the shareholders. But -- them on a lot of money why not pay them in stock instead. Why not give them an incentive just like -- stock not options or any other sock or source option with the appropriate restrictions so it looks a lot like stock ownership. Because with the administration's own medicine for over many many years not just something that vest over here to throw again I don't know that the details and couldn't criticize it when were -- other. I'll tell you that when you've got a stake in the corporation. For the long term you're gonna behave as a Steward and you're going to act in the best interest of long term shareholders which is the ultimate goal of American couple. To the president ever -- servants Kevin. We had some conversations and I can included that I was much more excited about staying in and being committed to Google and I'm committed to. So we did best that's -- treasury salsa congress thank you all right let's of the nice lunch added we had a very netstat. --"