Jan 25, 2018

Facebook and Google criticised by George Soros

The billionaire investor George Soros has criticised tech "Monopolies" such as Facebook and Google, calling them a threat to democracy. At his annual dinner at the World Economic Forum in Davos, Mr Soros warned that social media platforms were "Obstacles to innovation". "The power to shape people's attention is increasingly concentrated in the hands of a few companies," Mr Soros told assembled guests. Mr Soros said the EU, which has no internet giants of its own, was best placed to "Protect society against them", whereas US regulators, he maintained, were too weak. Mr Soros, a Holocaust survivor, opened his speech by disclosing that he found the current moment in history "Rather painful".

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