28 January, 2018
During an annual dinner, Soros host at Swiss alpine resort of Davos, he called the tech companies powerful monopolies that can even compromise on their policies to enter markets like China, where they have been banned a long time ago.
"There is a similarity between internet platforms and gambling companies".
He warned that some of the companies could enter into "unholy marriages" with regimes in Russian Federation and China, creating a "web of totalitarian control" that would be disastrous.
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Despite their monopolization of digital platforms, these companies (European regulators usually add Amazon and Apple to the list), have shirked most of their obligations.
Soros also offered a stark warning that a future alliance between tech monopolies and authoritarian governments could bring together corporate and state-sponsored surveillance capabilities. He warns that something "harmful and maybe irreversible is happening to human attention" because "social media companies are inducing people to give up their autonomy". "But 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.
Others argued that it was Soros who was a danger to the world... George Soros isn't involved in the day-to-day management of that organization.
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. "The dictatorial leaders in these countries may be only too happy to collaborate with them, since they want to improve their methods of control over their own populations and expand their power and influence in the United States and the rest of the world".
During a dinner with journalists at the World Economic Forum taking place in Davos, Switzerland, the tycoon lashed out against the power of the United States technology companies, which he accused of putting "obstacles to innovation" and of being a "threat to democracy".