Eric Schmidt, the former CEO of Alphabet’s (GOOGL) subsidiary Google, predicts that the Internet will split into two by 2028 with one version being led by China and the other one by the US. According to a report by CNBC, Schmidt made these remarks at a private event hosted by Village Global VC in San Francisco.
Schmidt described the companies, services and wealth being produced in China as phenomenal and said that globalization provides the Asian country with many opportunities. He added that these developments could bring about new government policies that involve more rules for censorship and control in the region.
The ex-chief said that initiatives being undertaken by China in trade help in connecting the nation with several countries around the world and this in turn could lead to those countries adopting China’s controlled infrastructure.
Google has already faced criticism for reportedly taking on a project that involves the development of a censored search engine to suit the needs of Chinese officials. As per the Asian country’s strict censorship laws, search results on sensitive issues will be blocked or hidden.
Several lawmakers as well as the company’s employees raised concerns against the project and employees signed a letter asking for transparency while also stating that the plans raised ethical concerns. CEO Sundar Pichai said that the company was simply exploring its options with regards to entering China and that nothing was confirmed yet.
Google has faced a number of issues lately with regards to the tracking of user locations as well as criticism from President Donald Trump who claimed that the search engine muffled conservative voices and good news.
Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections. Global comparable store sales increased
Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search
Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,