Facebook and Google are doomed, George Soros says

according to George Soros struck at media giants Facebook and Google, declaring them monopolies which foster addiction, threaten independent thinking and danger empowering state-sponsored surveillance. "They deliberately engineer addiction to the services they provide," Soros told in a speech in Davos, Switzerland on Thursday. As the industry changes, a new business model at media companies is developing based not only on advertising income however on selling products to users, Soros said. A representative from Facebook had no comment on the remarks. A Google representative didn't immediately return a request for comment.

George Soros Just Declared Facebook and Google's "Days are Numbered"

Billionaire Businessman George Soros held no punches regarding media companies during his speech at the World Economic Forum in Davos on Thursday. The philanthropist declared businesses such as Facebook and Google's "days are numbered" and which they have become a "menace" and "obstacles of innovation" to society. While those "exploit the physical environment," he said, "social media companies exploit the social environment," according to a transcript of his address. "Social media companies deceive their users with manipulating their attention and directing it towards their own commercial purposes," stated Soros. Roger McNamee, who in reality was an early Businessman in Facebook, was cited as telling Facebook and Google were a menace to public health.

Facebook and Google are doomed, George Soros says

as informed in George Soros, billionaire and founder of Soros Fund Management LLC, speaks at an event on day 3 of the World Economic Forum in Davos, Switzerland, on Thursday, Jan. 25, 2018. Simon Dawson/BloombergBillionaire philanthropist and leading donor to liberal causes George Soros predicted Thursday which regulation and taxation going to recently dethrone Facebook and Google, describing the tech industry's main players as powerful monopolies which harm individuals, market innovation and democracy. In response, Facebook and Google have told they are unlock to greater Gov. oversight in their advertisement operations. Competition Commissioner Margrethe Vestager, whom he described as the "nemesis" of American tech monopolies. But his criticism of Facebook and Google may empower Democrats who have endeed expressed skepticism toward Silicon Valley and the broader world of tech and telecom.

collected by :Roy Mark