Worldwide

Soros Rips Facebook, Google at Davos

Soros Rips Facebook, Google at Davos”

Billionaire businessman, George Soros, called out the Trump administration for being a "danger to the world".

You can read a transcript of Soros' full remarks at Davos here. "That turns them into a menace and it falls to the regulatory authorities to protect society against them", Soros said.

Soros has been a consistent critic of Trump who is also in Davos, the first USA president to attend since Bill Clinton in 2000.

"Indeed, the United States is set on a course towards nuclear war by refusing to accept that [North] Korea has become a nuclear power", Soros declared, CNBC reported. Soros compared social media to gambling's addictive qualities, noting Facebook uses similar techniques to casinos, luring people in and enticing them to spend more and more time with them.

Soros said he saw the current US president as a "temporary phenomenon" who would disappear by 2020, if not earlier.

"They deliberately engineer addiction to the services they provide", Soros said in a speech in Davos, Switzerland on Thursday. "This can be very harmful, particularly for adolescents".

As the industry changes, a new business model at social media companies is emerging based not only on advertising revenue but on selling products to users, Soros said. "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", said 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.

Speaking at the World Economic Forum on Thursday night, Soros warned that escalating tensions between the US and North Korea now pose an existential threat to the current world order, and argued that the world must now accept North Korea as a nuclear power to prevent armageddon for the rest of the world.

"This may well result in a web of totalitarian control the likes of which not even Aldous Huxley or George Orwell could have imagined", he said.

During a dinner with journalists at the World Economic Forum taking place in Davos, Switzerland, the tycoon lashed out against the power of the U.S. technology companies, which he accused of putting "obstacles to innovation" and of being a "threat to democracy". He praised European Union Competition Commissioner Margrethe Vestager for the EU's direction on monopoly policy as well as the strengthening on its privacy and data laws, declaring her the "nemesis" of the tech titans.



Like this

Latest


26 January 2018
Mummified Syphilitic Corpse Revealed To Be Boris Johnson's Ancestor
It's there, while caring for patients with syphilis, that it's believed she contracted the sexually transmitted disease. Their daughter Yvonne married Osman Wilfred Johnson Kemal, and their son, Stanley Johnson, is Johnson's father.

26 January 2018
Cape town Water Crisis : Water water everywhere, but no water to drink?
Like most residents of Cape Town, my household of four has had to change our habits to conserve water. The company says it will also keep its Springs Way water-collection point in Newlands open 24/7.

26 January 2018
Moon madness! Rare moon show is next week
The January 31 supermoon, which is the first blue moon of 2018, marks the last in a trilogy of supermoons. The 2019 eclipse, unfortunately, will not be a " blue moon " which only come around every 2.7 years.

25 January 2018
Tesla Crashes Into Fire Truck While Reportedly on Autopilot
This dude was arrested and charged with suspicion of DUI with a blood alcohol content "more than" twice the legal limit. They also have flashing lights and noisy sirens, all the stuff you need to notice the truck and get out of its way.

24 January 2018
Bikram yoga may not need to be so hot
The research indicated that the heated environment did not play a role in causing improvements in vascular health. The intervention lasted for 12 weeks and participants were asked to attend three Bikram yoga classes per week.

24 January 2018
Spanish Court Reportedly Rejects Attempt to Remotely Arrest Puigdemont
Mr Puigdemont and the rest of his ousted government have been charged with rebellion, sedition and misuse of public funds. If he attempts to do so, Rajoy promised to continue the implementation of Article 155, which does not have a time limit.

23 January 2018
Tom Izzo clarifies Larry Nassar statement, says he used 'wrong words'
He has admitted molesting athletes while he was employed by Michigan State and USA Gymnastics . Miller asked the judge to go over and above the sentencing guidelines of 60 years in prison .

21 January 2018
Roy Halladay's autopsy reveals traces of alcohol and morphine
The 40-year-old Halladay died on Tuesday, Nov. 7, 2017 , when his plane crashed off the coast of Tampa, Fla. Halladay was piloting his own private plane when it plunged into the Mexican Gulf previous year .

21 January 2018
Gunmen launch attack on Afghan hotel
The Intercontinental is a state-owned hotel which often hosts weddings, conferences and political gatherings. Details about the attack, including whether anyone had been killed, were not immediately clear.

20 January 2018
Seven Ethnic Rakhines Killed After Myanmar Police Fire on Protest Crowd
US-based Human Rights Watch said the discussions between Myanmar and Bangladesh failed to include any understanding of what the Rohingya want.



Recommended