On September 21, 2011, the Senate Antitrust Committee grilled Google’s Executive Chairman Eric Schmidt. However, his answers failed to satisfy the majority of Congressmen on Capitol Hill. They’ve sent more questions in writing.
Senator Richard Blumenthal asked the following –
Quote:
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Mr. Schmidt, your company is overwhelmingly dominant - it really has only one rival, and that rival is losing incredible sums of money each year. Given the tremendous market power of your company, do you believe it's fair to characterize Google as a monopoly?
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To which Schmidt answered that Google is not at all dominant and has plenty of competitors.
Quote:
First, I would disagree that Google is dominant. By investing smartly, hiring extremely talented engineers, and working very, very hard (and with some good luck), Google has been blessed with a great deal of success. But given the rapid pace of change in the technology industry, we take nothing for granted. As I acknowledged during the Committee hearing, Google is "in the area" of 65% of queries in the U.S., if you look only at Google's general search competitors, such as Microsoft's Bing and Yahoo!. In fact, we find that the monthly general search query figures released by comScore and Hitwise don't reflect the reality of how many sites Google competes with in search. Google has many competitors that are not general search engines, including specialized search engines, social networks, and mobile apps. So inferring that Google is in any way "dominant" in search would be incorrect.
- Eric Schmidt
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It is up to the reader to judge the integrity of the answer and the sanity of the writer.
Google Says It Is Not Dominant On the Net
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