| 00:00:23 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
EVERYONE WHO SEARCHES OR DOES BUSINESS OVER THE INTERNET. IN OTHER WORDS, ALMOST EVERYBODY. WE'LL EXAMINE HOW THE WORLD'S DOMINANT INTERNET SEARCH ENGINE,...
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| 00:05:36 |
Lee, Michael "Mike" S. - U.S. Senator, [R] Utah
STATES. AND GOOGLE HAS LONG BEEN A DOMINANT FORCE IN THIS ARENA. INDEED, AMERICANS GOOGLE SO FREQUENTLY AND UBIQUITOUSLY THAT THE COMPANY'S NAME HAS...
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| 00:11:50 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
WILL BE MR. ERIC SCHMIDT. MR. SCHMIDT HAS SERVED AS THE EXECUTIVE CHAIRMAN OF GOOGLE SINCE APRIL OF THIS YEAR. AND FROM 2001 TO 2011 WAS THE CHIEF...
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| 00:12:23 |
Feinstein, Dianne - U.S. Senator, [D] California
AREA. I'VE KNOWN THE CHAIRMAN OF GOOGLE FOR MANY YEARS. I'VE ALWAYS KNOWN HIM AS A FORTHRIGHT AND -- MAN FILLED WITH INTEGRITY. HE HAS A LONG HISTORY...
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| 00:15:53 |
Schmidt, Eric E. - Executive Chair
HERE TODAY. I WANT TO START FIRST BY TAKING A STEP BACK. 20 YEARS AGO, A LARGE TECHNOLOGY FIRM WAS SETTING THE WORLD ON FIRE. ITS SOFTWARE WAS ON NEARLY...
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| 00:21:31 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
HEARING. >> THANK YOU MUCH, MR. SCHMIDT. WE APPRECIATE WHAT YOU JUST HAD TO SAY. AND NOW WE'LL BEGIN OUR INQUIRIES OF YOU INDIVIDUALLY AND WE WILL...
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| 00:22:37 |
Schmidt, Eric E. - Executive Chair
ANSWERS. >> I'M NOT SURE GOOGLE IS A RATIONAL BUSINESS TRYING TO MAXIMIZE ITS OWN PROFITS, SENATOR. AS WE ADDRESSED IN OUR FOUNDING OF OUR -- THE IPO...
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| 00:29:19 |
Lee, Michael "Mike" S. - U.S. Senator, [R] Utah
THE POINT OF ONE OF MY CONCERNS. ARE GOOGLE PRODUCTS AND SERVICES OFFERED BY GOOGLE SUBJECT TO THE SAME SEARCH RANKING ALGORITHMIC PROCESS AS ALL OTHER...
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| 00:29:36 |
Schmidt, Eric E. - Executive Chair
SEARCH RESULTS? >> THEY ARE WHEN THEY'RE ACTUALLY IN RANKING -- IN THE ANSWERS THAT YOU'RE DESCRIBING. BUT I THINK THE CORE QUESTION THAT BOTH OF YOU...
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| 00:36:42 |
Schumer, Charles E. - U.S. Senator, [D] New York
AND FAIR COMPETITION IN THE MARKETPLACE. ESPECIALLY IN THE HIGH-TECH SECTOR. GOOGLE AND ITS COMPETITORS ARE BUILDING THE INFRASTRUCTURE OF THE FUTURE...
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| 00:42:25 |
Schmidt, Eric E. - Executive Chair
PROJECT? >> I THINK THE ANSWER IS ABSOLUTELY. I'VE BEEN THERE, AND IT'S A -- IT'S BOTH A GREAT TECHNOLOGY PLACE AND ALSO A WONDERFUL NATURAL RESOURCE....
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| 00:43:55 |
Cornyn, John - U.S. Senator, [R] Texas
OF MODERN TECHNOLOGY. I HAVE TO CONFESS THAT WHEN I READ THE NONPROSECUTION AGREEMENT BETWEEN GOOGLE AND THE U.S. JUSTICE DEPARTMENT, IT GAVE ME SOME...
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| 00:46:31 |
Schmidt, Eric E. - Executive Chair
AGAIN, ALL OF THAT'S GENERALLY QUITE CORRECT. WE REGRET WHAT HAPPENED. AND WE ENTERED INTO THE AGREEMENT THAT YOU NAMED AND CITED FROM. UNFORTUNATELY,...
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| 00:51:03 |
Klobuchar, Amy - U.S. Senator, [D] Minnesota
RESEARCH AS POSSIBLY WERE TALKING HERE, COMPARING GOOGLING MY NAME WHICH I'M SURE NO ONE ON THIS PANEL, NO SENATOR HAS EVER GOOGLED THEIR OWN NAME....
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| 00:52:41 |
Schmidt, Eric E. - Executive Chair
IN HOW THEY ARE BEING RANKED? >> IN THE SITUATION YOU ARE DESCRIBING, I HAVE A LOT OF SYMPATHY FOR THE BUSINESS WHOSE RANKING HAS GONE DOWN. THERE'S...
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| 00:58:21 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
THANK YOU, SENATOR. SENATOR GRASSLEY? >> SENATOR REMINDED ME ONE OF THE WORKSHOPS WILL BE HELD IN PELLA, IOWA, NEXT WEEK, AND IF WE MAINTAIN OUR WEEKLY...
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| 01:00:55 |
Schmidt, Eric E. - Executive Chair
BUSINESSES?" >> SO I'D LIKE TO RETURN TO THE PHILOSOPHY WE'VE HAD FOR SOME YEARS, WHICH IS TO FOCUS ON GETTING TO THE RIGHT ANSWER, AND WE HAVE A LOT...
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| 01:05:31 |
Franken, Al - U.S. Senator, [D] Minnesota
THIS EXTREMELY IMPORTANT HEARING. FIRST I WANT TO START OUT BY SAYING I LOVE GOOGLE, AND I SAID THAT THE LAST TIME GOOGLE WAS HERE IN FRONT OF MY...
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| 01:10:09 |
Schmidt, Eric E. - Executive Chair
IT AND LOOK AT THE EXHIBITS? >> IN GENERAL TERMS, YES, BUT NOT IN SPECIFICS. BUT I'M GENERALLY FAMILIAR WITH YELP. >> FIRST OF ALL, YELP CONTENDS THAT...
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| 01:13:15 |
Blumenthal, Richard - U.S. Senator, [D] Connecticut
WHO HAVE REMARKED ON WHAT A TREMENDOUS SUCCESS STORY GOOGLE IS, A GREAT AMERICAN SUCCESS STORY, A GREAT CONSUMER SUCCESS STORY, AND I CERTAINLY HAVE...
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| 01:17:11 |
Schmidt, Eric E. - Executive Chair
A COURT. >> MY GENERAL ANSWER WOULD BE THAT MAKING THE INTERNET WIN GUARANTEES VERY STRONG COMPETITION FROM ULALL OF US. THE FACT OF THE MATTER IS...
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| 01:20:30 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
ROUND. MR. SCHMIDT, STATS SHOW GOOGLE RUNS BETWEEN 65% AND 70% OF ALL INTERNET SEARCHES IN THE U.S. DONE ON COMPUTERS AND 95% DONE ON MOBILE DEVICES....
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| 01:21:10 |
Schmidt, Eric E. - Executive Chair
FROM. >> WE CERTAINLY UNDERSTAND THE RULE THAT WE PLAY IN INFORMATION, AND WE ALSO UNDERSTAND THE PROPER ROLE OF GOVERNMENT AND YOUR ROLE AND SO FORTH...
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| 01:25:32 |
Lee, Michael "Mike" S. - U.S. Senator, [R] Utah
ON THE RECORD, UNDER OATH, DOES GOOGLE GIVE ANY PREFERENCE TO ITS OWN LISTINGS, PLACES OR SHOPPING RESULTS, ETC., IN ITS OWN RANKING RESULTS? >>...
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| 01:26:11 |
Schmidt, Eric E. - Executive Chair
ESSENTIALLY INSERT,
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| 01:26:12 |
Schmidt, Eric E. - Executive Chair
THAT YOU SHOWED EARLIER. IF YOU GO THROUGH THAT PRODUCT SEARCH THING THAT WE PUT OUT, IT ACTUALLY IS, AS I POINTED OUT, TAKES YOU TO OTHER SITES THAT...
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| 01:29:15 |
Franken, Al - U.S. Senator, [D] Minnesota
NOW FOR AWHILE, AND THEN THE CHAIRMAN WILL BE BACK. MR. SCHMIDT, LET'S SHIFT TO TALK ABOUT MOBILE SEARCH, BECAUSE CLEARLY DIRECTION OF THE INTERNET...
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| 01:30:57 |
Schmidt, Eric E. - Executive Chair
OF THEM? DO A LARGE -- >> MY NOT-TOO-PRECISE ESTIMATE SAY ON THE ORDER OF 2/3 COME WITH IT PRELOADED. >> SO IF AN EQUIPMENT MANUFACTURER THAT MAKES...
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| 01:32:59 |
Blumenthal, Richard - U.S. Senator, [D] Connecticut
BLOOMENTHAL. >> THANK YOU. AGAIN, I WANT TO EMPHASIZE I'VE REACHED NO CONCLUSIONS, AND I WILL BE SUBMITTING OTHER QUESTIONS IN WRITING, BECAUSE WE...
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| 01:34:26 |
Schmidt, Eric E. - Executive Chair
THAT I DISAGREE WITH YOUR ANALOGY COMPLETELY. >> AND I INVITE YOUR DISAGREEMENT. >> OKAY, SO I PREFER TO THINK OF THE INTERNET AS THE PLATFORM, AND...
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| 01:36:56 |
Franken, Al - U.S. Senator, [D] Minnesota
TO CARRY YOUR ANALOGY JUST ONE STEP FURTHER, YOUR METAPHOR, THAT YOU MIGHT HAVE BEEN SAYING THAT YOU THINK GOOGLE MIGHT BE DOPING THE HORSES. IS THAT...
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| 01:37:15 |
Klobuchar, Amy - U.S. Senator, [D] Minnesota
MISUNDERSTAND. SENATOR? >> THANK YOU VERY MUCH. I WAS THINKING A LOT OF THE QUESTIONS HAVE BEEN FOCUSSED ON HOW THE SEARCHES WORK AND HOW YOU END UP AT...
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| 01:37:35 |
Schmidt, Eric E. - Executive Chair
AND WHEN THERE'S GOING TO BE A CHANGE? >> I THINK THIS IS AN EXCELLENT POINT. WE DO A LOT OF TOOLS FOR WEBSITES SO THEY CAN UNDERSTAND HOW THEY ARE...
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| 01:39:48 |
Franken, Al - U.S. Senator, [D] Minnesota
TRANSITION TO THE SECOND PANEL, AND WE THANK YOU, MR. SCHMIDT, FOR BEING HERE AND FOR YOUR TESTIMONY. I'M GLAD MY COLLEAGUE FROM MINNESOTA BROUGHT...
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| 01:41:05 |
Schmidt, Eric E. - Executive Chair
NOW. >> SENATOR, THANK YOU FOR GIVING ME THE OPPORTUNITY TO APPEAR BEFORE YOUR PANEL HERE. WE WILL BE HAPPY TO ANSWER ANY OTHER QUESTIONS, SENATOR,...
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| 01:41:25 |
Panel Change, -
WEEK. WE NOW CALL THE SECOND PANEL. >> WE'RE GOING TO TAKE A BRIEF RECESS, SO IF YOU WANT TO SIT THERE, GET USED TO THAT PLACE, YOU CAN DO THAT, OR...
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| 01:44:41 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
RESUMED. WE'LL NOW BE MOVING TO OUR SECOND PANEL. FIRST ON THIS PANEL WILL BE MR. THOMAS BARNETT, MR. BARNETT IS CO-CHAIR OF THE FIRM'S ANTITRUST...
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| 01:46:12 |
Barnett, Thomas - Assistant Attorney General
IMPORTANT HEARING. I WOULD LIKE TO START WITH A GENERAL OBSERVATION. I WAS HEARTENED INITIALLY BY THE STATEMENT FROM CHAIRMAN SCHMIDT THAT GOOGLE GETS...
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| 01:51:26 |
Katz, Jeffrey - CEO
DISCUSS WHAT I THINK ARE VERY IMPORTANT ISSUES TO THE FUTURE OF OUR e-COMMERCE INDUSTRY. FIRST A NOTE ABOUT US, TENS OF THOUSANDS OF MERCHANTS LIST...
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| 01:56:35 |
Stoppelman, Jeremy - Co-Founder and CEO
WE'LL HEAR FROM MR. STOPLEMAN. >> THANK YOU, MR. CHAIRMAN. DISTINGUISHED MEMBERS OF THE COMMITTEE, I APPRECIATE YOUR INTERESTS AND THE INVITATION TO...
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| 02:01:18 |
Creighton, Susan - Director
SENATOR. BEFORE I BEGIN MY REMARKS, MR. SHIDS ASKED ME TO CHAIR FOY FOR THE RECORD THAT GOOGLE PLACES AND YELP ARE MOBILE APPS. MR. SHITDS MR....
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| 02:07:26 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
THE COMPETITIVE PROCESS, NOT COMPETITORS. WE WILL BE WISE TO REMEMBER THAT LESSON. THANK YOU VERY MUCH, CHAIRMAN. >> THANK YOU, MISS CREIGHTON. WE'LL...
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| 02:07:47 |
Barnett, Thomas - Assistant Attorney General
WHY IF SO AND WHY NOT IF SO? >> THANK YOU, MR. CHAIRMAN. YES, I CONSIDER GOOGLE TO BE A DOMINANT COMPANY WITH MONOPOLY POWER, AT LEAST IN SEARCH AND...
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| 02:10:43 |
Creighton, Susan - Director
IN INTERNET SEARCH, IS THEIR CONDUCT IT MAY NOT ENGAGE IN TO MAINTAIN ITS MARKET DOMINANCE? >> SENATOR, RESPECTFULLY I DO NOT BELIEVE THAT GOOGLE DOES...
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| 02:13:16 |
Lee, Michael "Mike" S. - U.S. Senator, [R] Utah
SENATOR LEE? >> THANK YOU, MR. CHAIRMAN. I HAVE A COUPLE QUESTIONS FOR MR. BARNETT. IN YOUR WRITTEN TESTIMONY, YOU MAKE A STATEMENT THAT I FIND COMPELLING....
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| 02:14:04 |
Barnett, Thomas - Assistant Attorney General
ISSUES, MAY CAUSE SIGNIFICANT ELEMENTS OF THE INTERNET TO BECOME SUBJECT TO INTRUE STIVE REGULATION BY GOVERNMENT? >> THANK YOU, SENATOR. YOU KNOW, ONE...
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| 02:18:46 |
Franken, Al - U.S. Senator, [D] Minnesota
BARNETT. MR. CHAIRMAN? >> MR. FRANKEN. >> THANK YOU, MR. CHAIRMAN. MR. STOPLEMAN, I WOULD LIKE TO ASK YOU AND MR. KATZ A QUESTION. HYPOTHETICAL. LET'S...
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| 02:19:06 |
Stoppelman, Jeremy - Co-Founder and CEO
LAUNCH OF YOUR COMPANY IN TODAY'S MARKET GIVEN THE COMPETITION AND LOCAL SEARCH AND PRODUCT SEARCH? >> AS I LAID OUT, I PERSONALLY WOULDN'T. I WOULDN'T....
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| 02:20:05 |
Katz, Jeffrey - CEO
IT. OUR BUSINESS REQUIRES MERCHANTS TO WANT TO PARTICIPATE IN NEXTAG BECAUSE WE HAVE A LOT OF SHOPPERS ON OUR SITE. 65% OF OUR SHOPPERS COME TO...
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| 02:23:11 |
Creighton, Susan - Director
97%, SUSPECT IT? CONCENTRATION FOR GOOGLE? >> SENATOR, WHAT THAT NUMBER, THERE IS A COUPLE OF BIG PROBLEMS WITH THAT NUMBER. >> YOU BROUGHT UP THE...
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| 02:25:56 |
Blumenthal, Richard - U.S. Senator, [D] Connecticut
CHAIRMAN. >> SENATOR BLOOMENLE THAT. . >> THANK YOU, MR.
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| 02:26:06 |
Creighton, Susan - Director
CHAIRMAN. HAS GOOGLE EVER SCRAPED OR COLLECTED CONTENT? >> SENATOR, THE -- GOOGLE HAS -- I DON'T KNOW IF IT SHOWS ON MR. BARNETT'S CHART OR NOT. BUT...
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| 02:33:14 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
INAUDIBLE ]. MR. KATZ, IS GOOGLE CORRECT CONSUMERS CAN GO -- CONSUMERS CAN GO TO NEXTAG BY ENTERING WWW.NEXTAG.COM INTO THEIR WEB BROWSERS, SO WHY...
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| 02:33:40 |
Katz, Jeffrey - CEO
WASHING MACHINE. THEY DON'T TYPE IN AMAZON OR NEXTAG, THEY DON'T TYPE IN GOOGLE PRODUCTS FIRST. THEY TYPE IN WASHING MACHINE. AND FROM THERE, THE...
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| 02:35:04 |
Stoppelman, Jeremy - Co-Founder and CEO
IF YOU LOST ACCESS? >> THANK YOU M CHAIRMAN. ABOUT 75% OF, I BELIEVE, THAT'S THE RIGHT NUMBER OF OUR TRAFFIC OVERALL IS SOURCED THROUGH GOOGLE ONE...
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| 02:35:44 |
Creighton, Susan - Director
COMPLETELY PERMISSIBLE UNDER ANTI-TRUST LAW FOR GOOGLE TO FAVOR ITS OWN PRODUCTS AND SERVICES ON ITS RESULTS PAGE? >> SENATOR, I THINK THE QUESTION...
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| 02:36:39 |
Lee, Michael "Mike" S. - U.S. Senator, [R] Utah
LEE. >> THANK YOU, MR. CHAIRMAN. I JUST HAVE A COUPLE QUESTIONS I WANTED TO ASK OF MR. STOPLEMAN AND MR. KATZ. PRELUDE TO THAT, I WANT TO RE-EMPHASIZE...
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| 02:37:23 |
Stoppelman, Jeremy - Co-Founder and CEO
GOOGLE DO BY WAY OF VOLUNTARY ACTION TO HELP ALLEVIATE ANY PROBLEMS THEY MIGHT HAVE CAUSED IN THAT REGARD STARTING WITH YOU, MR. STOPLEMAN. >> YEAH....
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| 02:38:24 |
Katz, Jeffrey - CEO
REALLY LEVEL PLAYING FIELD IF THAT WERE HAPPENING, I WOULDN'T BE HERE TODAY. THERE IS A FEW THINGS THAT GOOGLE COULD ADDRESS IF THEY REALLY WANTED...
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| 02:39:41 |
Franken, Al - U.S. Senator, [D] Minnesota
CREIGHTON, YOU WORK VERY CLOSELY ON THE MICROSOFT CASE OVER TEN YEARS AGO. THERE ARE MANY PARALLELS BETWEEN THAT CASE AND WHAT GOOGLE IS DOING TODAY....
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| 02:40:48 |
Creighton, Susan - Director
IS TREATING EVERYONE EQUALLY. WHAT DO YOU THINK OF THAT IDEA? >> SENATOR, I'D HAVE TO DEFER TO THE COMPANY IN TERMS OF WHETHER THAT'S A GOOD BUSINESS...
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| 02:45:03 |
Blumenthal, Richard - U.S. Senator, [D] Connecticut
WITH THE CHANGES IN THE MARKET. >> THANK YOU. THANK YOU MR. CHAIRMAN. >> SENATOR BLOOMENTHAL. >> THANK YOU, MR. CHAIRMAN. JUST IN FAYNESSIRNESS TO MR....
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| 02:46:04 |
Barnett, Thomas - Assistant Attorney General
TO ANSWER THIS QUESTION, BUT IF YOU WERE IN THAT POSITION NOW, WHETHER YOU WOULD BRING A CASE. OR AT LEAST BEGIN AN INVESTIGATION? >> THANK YOU. SENATOR,...
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| 02:49:17 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
SENATOR. TODAY'S HEARING DEMONSTRATES THE IMPORTANCE OF VIBRANT AND OPEN COMPETITION ON THE INTERNET. THE ACTIONS OF GOOGLE AS A DOMINANT INTERNET SEARCH...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.