That doesn't do much to help the teachers and police offers of San Francisco, who can't afford to buy a home in the city they work in. But that's the nature of progress, Schmidt said. Agriculture gave way to industry, and now industry is giving way to creativity: If you can't adapt to change, the Google chairman said, you'll be left behind.
"In the automated world, incomes will go up for people who work with computers and robots, and go down for people that don't embrace it," he said.
Hear that, San Francisco? Embrace the robots.
And on a new crop of Bay Area billionaires—OK, maybe just millionaires—Schmidt had this to say to the employees of newly acquired WhatsApp: "Let us celebrate capitalism. $19 billion, 50 people: Good for them."
Sign up for Computerworld eNewsletters.