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(Pocket-lint) - Google's Eric Schmidt has revealed his predictions for 2014, and he's even admitted a major regret from years past.
The executive chairman and former CEO of Google told Bloomberg TV that the biggest mistake he's ever made - while at Google - was "not anticipating the rise of social networking phenomena".

Schmidt then quickly added, "we're not going to make that mistake again," and he explained how Google worked on "other things" instead of spearheading social.

"But we should have been in that area," Schmidt added. "And I take full responsibility for that."


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Schmidt served as CEO of Google from 2001 to 2011, when Google's co-founder, Larry Page, abruptly decided to unseat him. He's now a chief advisor to Page, the current CEO, and Sergey Brin, Google's co-founder.

Google promptly launched Google+ in 2011, and the social network reportedly hit 540 million active users in October. It's now widely known that Page wants to use Google+ to both transform Google and bake identity and sharing into the entire Google experience.

Schmidt apparently didn't envision or anticipate any of this just two years ago. But he still has a lot to say about what to expect in 2014. For more comments from the right-hand man to Page, watch Bloomberg TV's video below.

Writing by Elyse Betters.