Eric Schmidt, former CEO of Google (NASDAQ:), shared his views on a range of topics in a discussion led by Professor Erik Brynjolfsson and students from Stanford University.

Among other things, Schmidt suggested that investors should “know what to do in the stock market,” considering that around $300 billion in hardware investments will flow to Nvidia (NASDAQ:).

When asked why Google is lagging behind in the race for generative AI technology, Schmidt cited the emphasis on home office policies and flexible working hours as the main reason for the company’s current position behind competitors such as OpenAI and Anthropic.

Schmidt, who led Google from 2001 to 2011 and served as executive chairman until 2015, highlighted a shift in the company’s priorities, suggesting that Google now places more emphasis on work-life balance than on leadership in the competitive AI industry.

He contrasted this approach with that of startups, where a more intense work ethic is common.

When Brynjolfsson asked current Google CEO Sundar Pichai for clarification on the matter, he received no clear answer.

This prompted Schmidt to issue a statement criticizing remote work culture and praising the return to office work in 2022 for its professional benefits and its role in developing leadership skills in younger workers.

He argued that for new companies seeking to compete with established startups, a more traditional office work model was essential.