Google Executive Chairman Eric Schmidt and PayPal co-founder Peter Thiel offered wildly differing views on the state of the technology industry last night at the Fortune Brainstorm Tech conference. During their after-dinner panel, the tone remained amiable, but Thiel, in particular, managed to get some memorable jabs in. For example, when talking about Google, Thiel said the "intellectually honest thing to do" would be to admit that "Google is no longer a technology company." After all, he notes that Google has $50 billion in cash. Why isn't it investing all of that money in new technology? Thiel's conclusion: The company is out of new ideas and is coasting on search.Source: http://feedproxy.google.com/~r/Techcrunch/~3/vf0lWmtfUjQ/
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