Google gets it wrong, sort of. . .

He left out selling ads in local news-on-paper to local business. Of course the context was how to make money on line, not how newspapers are going to make money. But, dear friends in the Print industries, Never underestimate the blindness of even the smartest geeks regarding the value of Print. It's just their DNA.

Google CEO Schmidt: Consumers Won't Pay for Most Online News - Advertising Age - MediaWorks:
"At NAA: Eric Schmidt Tells Publishers They'll Make Money From Ads, Micropayments, Regular Subscriptions

by Nat Ives

Published: April 07, 2009

SAN DIEGO (AdAge.com) -- The newspaper business and other publishers will end up using a combination of advertising, micropayments and regular subscriptions to support its content online, much the way cable TV already operates, Google CEO Eric Schmidt told newspaper executives today. 'I think you're going to end up with all three,' he said."