Google CEO: Web 2.0 is overhyped and future lies in Mobile Web

In a recent interview with FAZ a german site Google CEO Eric Schmidt said that according to him the next big wave in advertising is the mobi...

In a recent interview with FAZ a german site Google CEO Eric Schmidt said that according to him the next big wave in advertising is the mobile internet he also said that the web 2.0 architecture is not necessarily a revenue opportunity. Here are some excerpts from that long interview
Where is the growth potential for Google?
We have many more ideas about technology the most obvious large space of advertising is the mobile internet. Just take the success of the iPhone: It has the first really powerful web browser on a mobile device - and many more are still coming. Nokia has one coming, Blackberry has one and Motorola has one. They are all supposed to be released this year. By these products, the advertising gets more targeted because phones are personal. So targeted ads are possible. And that means the value of the ads will grow. The next big wave in advertising is the mobile internet.

Video and display advertising?

Eric Schmidt: A lot of opportunities are in video and display. But there are things where you can do ads on, but some things you can't. Sometimes it works, sometimes it doesn't. Mobile works all the time.

Can mobile business be larger than the PC-Web?

Eric Schmidt: Yes, mobile will be a larger business than the PC-Web. But it will take a few years.
Web 2.0
Eric Schmidt: The web 2.0 architecture is not necessarily a revenue opportunity. This is not where the money is.

Is Web 2.0 advertising overestimated
Eric Schmidt: MySpace did not monetize as well as we thought. We have a lot of traffic, a lot of page views, but it is harder than we thought to get our ad network to work with social networks. When you are in social network, it is not likely that you´ll buy a washing machine. It is not a long term problem but it is taking us longer than we thought. We are trying new ways, new approaches all the time.

Future of Advertising on Social networks
Eric Schmidt: The advertising has to be more entertaining, more interesting, more immersive compared to what we have today. That is my opinion. We are not there yet but I am optimistic that it could work very well. What it needs to get there - trial and error. That´s the way we do it at Google.

Head to FAZ for reading the complete interview
Related Reads:
Google CEO defines Web 3.0
Future of Web 2.0
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