It’s pretty funny to see Eric Schmidt keep showing up in the middle of these advertising gatherings. It’s utter chaos, first of all.
“We should stop talking about what was . . .”
“It’s like driving in the fog . . .”
“All industries recalibrate themselves . . .”
“Stop whining . . .”
“All these changes will no doubt put a strain on our organizations . . .”
“The system worked well for 40, 50 years . . .”
Misery, right? Black hole misery. All backward looking.
Then, there’s Google’s Mr. Schmidt not saying too much, but what he does say has a self-contained quality and sense of direction.
He talks about new opportunities that are coming for advertisers, but more to the point, for information itself. Think about that: new opportunities for information - i.e., he’s not talking about a few great new revenue streams for agencies, he’s speaking to a complete shift in what makes an ad an ad.
Any clues about what form these opportunities will take? Yep, new forms of storytelling . . . or, specifically, the development of new forms of storytelling.
So, why is he there? What does he have to gain? It’s not taking their (declining) business, although he’s accused of that. But here’s what he’s doing: he’s developing the storytellers so that, in five years or so, they’ll be able to develop new forms of storytelling. He’s planting seeds.
In good time, he’ll get a crop of stories that have the right elemental qualities to flow through GOOG. That’s his long-term payoff.
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