Eric Schmidt says proof that Google is vulnerable to competition

“Finally, we do not have to speculate as to whether there are new entrants in vertical search services such as comparison shopping and local search and review sites,” Schmidt says. “In February of this year, the travel comparison shopping site, Hipmunk, received $4.6 million in venture funding even as Google continues to expand its own flight search and hotel search functionality.”

The funding number is a bit off, but I'll let it slide. Healthy competition means consumers win!