Investment mogul George Soros predicts the end of Facebook, Google

  • Investment mogul George Soros predicts the end of Facebook, Google

Investment mogul George Soros predicts the end of Facebook, Google

George Soros said Facebook Inc. and Google are nearly monopolies and have purposely fostered addiction among users.

"I consider the Trump administration a danger to the world", the billionaire investor said in a speech from Davos, Switzerland. "This can be very harmful, particularly to adolescents".

Soros then attacked social media companies, calling them harmful and accusing them of encouraging addiction to their platforms.

Soros said that the companies could create, 'a web of totalitarian control the likes of which not even Aldous Huxley or George Orwell could have imagined'.

Leftist fearmongering about President Donald Trump literally destroying the world flared up again on Thursday, as liberal billionaire donor George Soros joined the Bulletin of the Atomic Scientists in predicting a Trump nuclear armageddon.

He also described Russian Federation under President Vladimir Putin as a "mafia state" and called United States President Donald Trump a "danger to the world".

George Soros understands Popper's rationale nearly uniquely well. "That turns them into a menace and it falls to the regulatory authorities to protect society against them".

Soros said that these tech giants claim that they are distributing information but they are distributing monopoly instead.

Tech and social media affect how people think and behave, according to Soros. The business magnate believes US internet-service companies are already tempted to give into the demand of authoritarian states in order to gain access to their markets.

"The fact that they are near-monopoly distributors makes them public utilities and should subject them to more stringent regulations, aimed at preserving competition, innovation, and fair and open universal access", he said. He said the US IT companies' "days are numbered", as their monopoly would eventually be cracked by tighter rules and tax regimes.

Soros notes how Europe protects against the abuse of monopolies regardless of how their power was achieved, unlike the US, which regulates based on acquisitions.

Soros, a great supporter of economic liberalism, became known in the world of politics by supporting anti-communist movements in the former Soviet republics.

"This requires the United States to cooperate with all the interested parties, China foremost among them". Speaking at the World Economic Forum in Davos - famously the site of Thomas Mann's novel The Magic Mountain - Soros spoke of the dangers of populist leaders who have tried to establish "various forms of dictatorship and mafia states".