Let's face it: the tech world loves its corporate rivalries. In the '90s it was Microsoft vs. Apple. In the aughts it was Microsoft vs. Google. And now it's Google vs. Facebook. Increasingy, the social network has been gaining ground on Google, surpassing the search giant in page views and unique visitors and stealing away its top engineering talent. In July, Fortune declared "the search party over" citing the company's declining stock value and Facebook's meteoric rise.

With so much publicity over Facebook and Google's battle for the Internet, one would think Google's CEO would at least acknowledge the rivalry. Not so. In a discussion with reporters Thursday, Schmidt brushed it off completely:

"We have a competitor called Microsoft (MSFT)," he said. "Microsoft has more cash, more engineers, more global reach. We see competition from Microsoft every day." Facebook, on the other hand, "has clearly stated they don't want to get into the search business. Facebook users tend to use Google search. Facebook's ads business does not displace our advertising. I'm somewhat perplexed by the obsession because I don't think the facts support it. Things are going great for Google."