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Soros says Trump administration is 'a danger to the world'

Soros says Trump administration is 'a danger to the world'

CNBC reports that speaking at the World Economic Forum in Davos, Switzerland, left-wing billionaire and founder of the Open Society Foundations, George Soros, attacked social media and President Trump. Soros compared social media to gambling's addictive qualities, noting Facebook uses similar techniques to casinos, luring people in and enticing them to spend more and more time with them.

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. During the 2016 election cycle, according to OpenSecrets.org, Soros Fund Management donated more than ten million dollars to Hillary Clinton's campaign.

Soros said that these tech giants claim that they are distributing information but they are distributing monopoly instead. He warns that something "harmful and maybe irreversible is happening to human attention" because "social media companies are inducing people to give up their autonomy".

To prevent such an escalation, Soros said, the world's major geopolitical actors must now accept that the rogue state has a nuclear programme.

Soros also predicted that Trump's stint in the White House may not last a full term. The billionaire then directly called out tech companies Google and Facebook saying, "As Facebook and Google have grown into ever more powerful monopolies, they have become obstacles to innovation, and they have caused a variety of problems of which we are only now beginning to become aware".

George Soros- Bearish on American Economy
Soros says Trump administration is 'a danger to the world'

"They deliberately engineer addiction to the services they provide", which is harmful particularly for children, he said.

Ukraine says it warned Facebook of Russian Federation fake news in 2015 " There is a possibility that once lost, people who grow up in the digital age will have difficulty in regaining it". 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.

The dominant global creed has reverted from worldwide governance to nationalism, Soros argued.

Soros also offered a stark warning that a future alliance between tech monopolies and authoritarian governments could bring together corporate and state-sponsored surveillance capabilities.

"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. As the ill-considered thoughts of an old man who doesn't quite get the new age, or as something in between? He said the US IT companies' "days are numbered", as their monopoly would eventually be cracked by tighter rules and tax regimes.




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