This is yet another example of Schmidt's acting to maximize his personal wealth, power and prestige to the detriment of both Google and Google's users and customers. Larry Page is the CEO of Google, *not* Eric Schmidt!
Well, neither of us know all the facts, but one of his public statements implied there were things he couldn't even discuss with his own lawyer! I'm deeply suspicious of that claim, but if that was in fact the case and it happened to me, I wouldn't go public like he did, and I wouldn't go to the press. But I'd call a lawyer anyway, and I'd call my Congressman and Senators for good measure.
First of all, unless you have a signed contract valid in court, as a "content creator" you aren't getting paid. You are working for free. You are spending hours producing content and giving it away.
Second, there's a huge difference in scale among "content creators". Your local garage band may be similar in quality to Foo Fighters in your opinion, but the fact is that they aren't. What people actually like and are willing to pay for matters. In short, content creation is a competitive marketplace.
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