The six minute video clip is a bit hoaky (particularly Schmidt's attempts at humor) but there are some interesting takeaways from this interview, like:

• figuring out how to rank real-time info is "the great challenge of the age."
• broadband will be comfortably faster than 100MB (at least for the Western world).
• distribution distinctions between TV, Radio and the web will go away.
• Today's teenagers, who seamlessly jump from app to app, are a model of how the web will work 5 years from now.
• Content will move more towards video (no surprise here really)

Here's more from the Interview...

I saw that one of our staff writers (happygeek) recently wrote about how a UK Broadcaster (Channel 4), a public TV network, partnered with YouTube so that they can stream their content and increase distribution for their programming. In turn Ch. 4 gets a share of the revenue generated by YouTube ads. This is the first deal of its kind (at least with a major Public Network) and a clear sign that these two distribution channels are already in the process of merging.

Schmidt's statement that a Netbook running with Google OS expected by 2010 is another eyebrow raiser.