“We can make more in mobile than desktop eventually.”

Eric Schmidt, Google’s CEO, quoted on Silicon Alley Insider.

What it means: a couple of thoughts on this quote. First, I truly believe mobile local search usage will be big, given my knowledge of how local search works. Second, as more internet devices become untethered, the relative share of local search usage happening on “mobile” will grow, possibly to become the #1 source of reference share in local search.

But is this new revenue? The revenue pie will certainly grow with the introduction of new ways to do “mobile” local searches but I suspect some of it (more than 50%?) will be revenues displaced from i) traditional media advertising and ii) current online advertising (search, directional, etc.).

Will Google get it all? It’s far from done. As I’ve stated before, I believe “mobile” is much more social than what we see on the Web currently and Google, even though they own some interesting assets like Orkut and Blogger, has not been very successful with the social web so far.