...
either Ernst Stavro Blofeld or Auric Goldfinger come true...launched a scathing attack on tech giants at the Davos summit on Thursday, calling them monopolies that could be manipulated by authoritarians to subvert democracy.
During an annual dinner he hosts at the World Economic Forum, held this week in the Swiss alpine resort, Soros turned his sights on a host of subjects including US President Donald Trump
...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States...
and the speculation frenzy surrounding the bitcoin cryptocurrency.
But much of the Hungarian-born financier's ire was reserved for the tech giants of Silicon Valley who, he argued, needed to be more strictly regulated.
"Facebook and Google effectively control over half of all internet advertising revenue," the 87-year-old told diners during a speech.
"They claim that they are merely distributors of information.
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 predicted that tech giants would "compromise themselves" to access key markets like China, creating an "alliance between authoritarian states and these large, data rich IT monopolies."
"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 warned.