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In addition to warning that U.S. President Donald Trump represents an immense "danger" to civilization, billionaire George Soros used the spotlight of the World Economic Forum in Davos, Switzerland on Thursday to urge the international community to take seriously the threats posed by Facebook and Google, which he said could ultimately spawn "a web of totalitarian control" if they are not reined in.
"They claim they are merely distributing information. But the fact that they are near-monopoly distributors makes them public utilities and should subject them to more stringent regulations."
--George Soros
Particularly alarming, Soros said, is the prospect of Facebook and Google--which he scathingly deemed a "menace" to society--teaming up with "authoritarian states" to "bring together nascent systems of corporate surveillance with an already developed system of state-sponsored surveillance."
Such "unholy marriages" could result in a strain of authoritarianism "the likes of which not even Aldous Huxley or George Orwell could have imagined," the billionaire investor cautioned.
Soros went on to compare the tech giants' impact on the internet--and social media in particular--to the effects of fossil fuel giants on the environment.
"Mining and oil companies exploit the physical environment; social media companies exploit the social environment," Soros said, warning that the days of internet monopolies like Facebook and Google "are numbered."
"They claim they are merely distributing information," Soros added of the tech giants that are frequently denounced by critics of corporate power for abusing their market dominance. "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."
If tech companies are permitted to retain overwhelming control over information, "far-reaching adverse consequences on the functioning of democracy" could result, Soros concluded.
"The power to shape people's attention is increasingly concentrated in the hands of a few companies," Soros said. "It takes a real effort to assert and defend what John Stuart Mill called 'the freedom of mind.' There is a possibility that once lost, people who grow up in the digital age will have difficulty in regaining it."
Below is a short clip of Soros's speech. Read his full remarks here.
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
In addition to warning that U.S. President Donald Trump represents an immense "danger" to civilization, billionaire George Soros used the spotlight of the World Economic Forum in Davos, Switzerland on Thursday to urge the international community to take seriously the threats posed by Facebook and Google, which he said could ultimately spawn "a web of totalitarian control" if they are not reined in.
"They claim they are merely distributing information. But the fact that they are near-monopoly distributors makes them public utilities and should subject them to more stringent regulations."
--George Soros
Particularly alarming, Soros said, is the prospect of Facebook and Google--which he scathingly deemed a "menace" to society--teaming up with "authoritarian states" to "bring together nascent systems of corporate surveillance with an already developed system of state-sponsored surveillance."
Such "unholy marriages" could result in a strain of authoritarianism "the likes of which not even Aldous Huxley or George Orwell could have imagined," the billionaire investor cautioned.
Soros went on to compare the tech giants' impact on the internet--and social media in particular--to the effects of fossil fuel giants on the environment.
"Mining and oil companies exploit the physical environment; social media companies exploit the social environment," Soros said, warning that the days of internet monopolies like Facebook and Google "are numbered."
"They claim they are merely distributing information," Soros added of the tech giants that are frequently denounced by critics of corporate power for abusing their market dominance. "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."
If tech companies are permitted to retain overwhelming control over information, "far-reaching adverse consequences on the functioning of democracy" could result, Soros concluded.
"The power to shape people's attention is increasingly concentrated in the hands of a few companies," Soros said. "It takes a real effort to assert and defend what John Stuart Mill called 'the freedom of mind.' There is a possibility that once lost, people who grow up in the digital age will have difficulty in regaining it."
Below is a short clip of Soros's speech. Read his full remarks here.
In addition to warning that U.S. President Donald Trump represents an immense "danger" to civilization, billionaire George Soros used the spotlight of the World Economic Forum in Davos, Switzerland on Thursday to urge the international community to take seriously the threats posed by Facebook and Google, which he said could ultimately spawn "a web of totalitarian control" if they are not reined in.
"They claim they are merely distributing information. But the fact that they are near-monopoly distributors makes them public utilities and should subject them to more stringent regulations."
--George Soros
Particularly alarming, Soros said, is the prospect of Facebook and Google--which he scathingly deemed a "menace" to society--teaming up with "authoritarian states" to "bring together nascent systems of corporate surveillance with an already developed system of state-sponsored surveillance."
Such "unholy marriages" could result in a strain of authoritarianism "the likes of which not even Aldous Huxley or George Orwell could have imagined," the billionaire investor cautioned.
Soros went on to compare the tech giants' impact on the internet--and social media in particular--to the effects of fossil fuel giants on the environment.
"Mining and oil companies exploit the physical environment; social media companies exploit the social environment," Soros said, warning that the days of internet monopolies like Facebook and Google "are numbered."
"They claim they are merely distributing information," Soros added of the tech giants that are frequently denounced by critics of corporate power for abusing their market dominance. "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."
If tech companies are permitted to retain overwhelming control over information, "far-reaching adverse consequences on the functioning of democracy" could result, Soros concluded.
"The power to shape people's attention is increasingly concentrated in the hands of a few companies," Soros said. "It takes a real effort to assert and defend what John Stuart Mill called 'the freedom of mind.' There is a possibility that once lost, people who grow up in the digital age will have difficulty in regaining it."
Below is a short clip of Soros's speech. Read his full remarks here.