Google and Facebook 'Deliberately Engineer Addiction — George Soros

George Soros at Davos Trump 'a danger to the world'

But his criticism of Facebook and Google may empower Democrats who have already expressed skepticism toward Silicon Valley and the broader world of tech and telecom. In 2016, competition authorities ordered Apple to pay Ireland more than $15 billion in uncollected taxes; and Facebook has been penalized by several privacy watchdogs for breaking data protection rules. But a Hungarian billionaire investor thinks otherwise. The lawmakers behind the bill say the rules will help prevent Russian Federation and other foreign powers from exploiting social media and undermining US elections.

Billionaire investor George Soros on Thursday warned that President Donald Trump's administration threatens to put the USA and North Korea on a war footing.

The world's major geopolitical actors must now "come to terms with North Korea as a nuclear power" to prevent a nuclear war breaking out.

Soros's first major political involvement was in funding groups blocking the re-election bid of George W Bush in 2004.

Soros has been a consistent critic of Trump who is also in Davos, the first US president to attend since Bill Clinton in 2000. "I give President Trump credit for motivating his core supporters brilliantly", Soros said. "That's why I expect a Democratic landslide in 2018".

More unexpected was where Soros went next.

The billionaire also took aim at monopolistic technology and social media companies, which "while once liberating, are now socially damaging". Here was a threat, Soros suggested, that was likely to be more lasting than the Trump Administration. "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".

During a speech at the World Economic Forum in Davos, Switzerland on Thursday, Soros, 87, who heads the Soros Fund Management and Open Society Foundations, slammed President Donald Trump and his leadership, reports. He compared them to oil and mining companies that "exploit" the physical environment in that they "exploit the social environment".

"Social media companies deceive their users by manipulating their attention and directing it towards their own commercial purposes".

"It is only a matter of time before the global dominance of the U.S".

"This can result in a totalitarian control network like neither Aldous Huxley or George Orwell (two writers who reflected in their novels the effects of a futuristic totalitarian society) could have imagined", he added. Chinese tech companies are "fully equal to the American ones", and they "enjoy the full support and protection of the Xi Jinping regime". 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.

"This requires the United States to cooperate with all the interested parties, China foremost among them".

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