20 seconds in he says approximately: "Besides the fact that we show ads in gmail which we've done for over a decade and used the information for nothing". Now that I listen again it seems like an interesting play on words that makes it very unclear what he means.
Before downvoting this commentor, make sure you've read and understand the contents of the article. Also, there's a reasonably in depth discussion about the article here:
Eric Schmidt is currently touring Europe, lying to people. - FTFY