When we talked with Google CEO Eric Schmidt after an earnings call last year, he spoke passionately about the concept of the long tail and why it’s so vital to Google’s future. Schmidt is talking about the long tail again at today’s analyst meeting. “The surprising thing about the long tail is how long the long part of the tail really is,” he said a bit ago, ”and how many small businesses there are that have not been traditionally served by the traditional mass audience markets, particularly advertising. We’re doing pretty well in the middle of this tail. We still do not, as a company, have all the products and services that, in our judgement, are needed to serve the largest advertisers or the very tiniest of advertisers.” Tune into the live webcast of the presentation here.

UPDATE: The webcast is now archived.