It's not often an exec is this honest about his/her own faults, but Google's Eric Schmidt admitted that not only did he "clearly knew I had to do something and I failed to do it," but that he "screwed up" when it came to social networking.
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Source: http://feeds.gawker.com/~r/gizmodo/full/~3/N2GGbhxAldc/eric-schmidt-says-he-screwed-up-social-networking-at-google
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