More Google: How it was supposed to innovate

Google’s Eric Schmidt admits Facebook failure

We are hearing alarming news from Google every day now.

It’s former CEO has admitted that he “screwed up” by failing to treat Facebook as a serious threat when he was in charge.

That comes as a surprise.

We are not talking about the surprise of top executives making errors–that is human albeit under-reported. We see the surprise in something else.

Google touted its image of a perpetual innovation machine with everyone coming up with great 20%-innovation-time projects. Now Schmidt says it was the responsibility of a bunch of mighty few to out-innovate Facebook.

What one of these two things is true? Both can’t be.

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