Schmidt is right. Given the speed of technological change, it’s time for both the commission and the FTC to decide whether or not to bring their anti-trust lawsuits against Google. The longer both Almunia and Leibowitz wait, the more powerful Google becomes, and the more indecisive and laggardly the regulators appear.

Time is, indeed, of the essence. As the future arrives on all our devices and “the Internet of things” becomes a reality, it is essential that this Google problem, which is undermining entrepreneurial innovation, is resolved.

An Internet of things must be a place of all of our things, not just Google’s things. And as Google products such as its self-driving cars and data goggles pioneer this brave new world of intelligent devices, it is essential that the FTC and the commission guarantee that the ubiquitous Google search engine doesn’t degenerate into a platform for this increasingly powerful company to hawk its own intelligent products and services.