Billionaire investor George Soros 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. 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. But he said the cryptocurrency would likely avoid a full crash because authoritarians would still use it to make secret investments abroad. He described Russia’s Vladimir Putin as presiding over a “mafia state” and called Trump a “danger to the world”.

Source: Punch January 26, 2018 09:33 UTC