And Putin Soros:
Google and Facebook become semi-monopolistic distributors of information and must be subject to strict laws (Reuters)
The famous American billionaire George Soros at the Davos Forum launched a scathing attack on technology giants in the world, calling them monopolies manipulated by tyrants to subvert democracies. Soros also criticized US presidents Donald Trump and Russian President Vladimir Putin.
1) Soros poured out his anger at technology giants in the Silicon Valley at a traditional annual dinner at the Davos Forum in Switzerland. He said those companies needed tougher controls,
2) Soros pointed out that Facebook and Google control half of online advertising revenues, even though they are just informants.
In an address to the participants, the 87-year-old billionaire said that Facebook and Google "have become semi-monopolistic distributors, making them public institutions, and should be subject to stricter laws aimed at maintaining competition and innovation and that global communication is fair and open .
4) Monopoly and tyranny
Soros predicted that technology giants would involve themselves in access to key markets such as China, which would create "an alliance of autocratic countries and large IT monopolists with a huge amount of data." The billionaire predicted that governments would begin to regulate technology more aggressively, "Davos is a good place to advertise that their days are numbered," he said, referring to technology companies.
5) George Soros, known for his successes in the currency trade sector, called the "typical bubble" but said that this virtual currency would probably avoid a complete collapse, because tyrants still wanted to use it to make secret investments abroad.
6) The Russian president rules a "mafia state" and described the president as a "danger to the world," but he predicted that the attractiveness of Donald Trump would not last, and that "it is a temporary phenomenon in every sense and will disappear in 2020 or even before that "He said.
Last year, he warned that the boom in financial markets would end after Trump was elected, China's economic growth rate was unsustainable, while China's growth rate continued to rise, US equity markets are currently at record levels.
The famous American billionaire George Soros at the Davos Forum launched a scathing attack on technology giants in the world, calling them monopolies manipulated by tyrants to subvert democracies. Soros also criticized US presidents Donald Trump and Russian President Vladimir Putin.
1) Soros poured out his anger at technology giants in the Silicon Valley at a traditional annual dinner at the Davos Forum in Switzerland. He said those companies needed tougher controls,
2) Soros pointed out that Facebook and Google control half of online advertising revenues, even though they are just informants.
In an address to the participants, the 87-year-old billionaire said that Facebook and Google "have become semi-monopolistic distributors, making them public institutions, and should be subject to stricter laws aimed at maintaining competition and innovation and that global communication is fair and open .
4) Monopoly and tyranny
Soros predicted that technology giants would involve themselves in access to key markets such as China, which would create "an alliance of autocratic countries and large IT monopolists with a huge amount of data." The billionaire predicted that governments would begin to regulate technology more aggressively, "Davos is a good place to advertise that their days are numbered," he said, referring to technology companies.
5) George Soros, known for his successes in the currency trade sector, called the "typical bubble" but said that this virtual currency would probably avoid a complete collapse, because tyrants still wanted to use it to make secret investments abroad.
6) The Russian president rules a "mafia state" and described the president as a "danger to the world," but he predicted that the attractiveness of Donald Trump would not last, and that "it is a temporary phenomenon in every sense and will disappear in 2020 or even before that "He said.
Last year, he warned that the boom in financial markets would end after Trump was elected, China's economic growth rate was unsustainable, while China's growth rate continued to rise, US equity markets are currently at record levels.
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