Google's CEO: Old and New Media Have Different Views on Content's Value
Traditional media argue their content has a certain intrinsic value, while Google says "prove it," [Schmidt] said. "That's often a difficult conversation."
"Ultimately, product value is determined if people view it," Mr. Schmidt argued. "They vote with their clicks, they vote with where they go."
Asked by a member of the audience whether Google is "arrogant," as charged by some in traditional media, Mr. Schmidt said, "I'm sure we're arrogant."