I had two run-ins with Google HR. Once after they purchased a company that had a product that I was a primary architect and programmer for. Part of the reason the process staled was because I explained "I consider programming like hammering nails. I program. I am not a programmer". I found their questions on what languages I program with to be silly. The other reason it staled had to do with their inability to discuss practical "projects" we could "work on together". It's as if Google is an Amish parent wanting to offer you their daughter in marriage with you committing before even getting a decent look at her.
To their credit the words "projects" and "work on together" coming from a potential hire are foreign to all companies. But if Google wants to avoid becoming Xerox in 30 years they would do well to understand this language and hire more like Al Qaeda rather than Ikea.
Developing a more network based structure is not that difficult to envision. For starters get rid of "%20 time", it's a joke. Instead I could imagine something more like: %25 on mandated work, %25 on google projects (what used to be %20 time), %50 time on projects entirely of your choosing that would be handled like an investment (with yearly reviews of direction as a board of a company would) and finally abolishment of most vacation days with vacation taken at will from the %50 and in any form (clustered, by day, half days, whatever). Full time creativity is a form of cognitive dissidence fostered only by industrial era thinking. Creative workers should be given the option to take minor or major pay cuts dynamically and at will in order to replenish their energy. Whereas today, asking for extra time off, even with a cut in pay, carries a lot of guilt for most. Such a structure as described, when monitored, also provides valuable feedback on the health of the employee and company. When you get something like this Google, hit me up on Pond.