Billionaire investor George Soros has described Google and Facebook as a ‘menace’ in a highly critical speech where he described the companies as ‘monopolies’

Soros said that ‘more stringent regulations’ were needed to deal with the two internet giants, at a speech at the World Economic Forum in Davos, Switzerland.

Davos predicted that in the future, the ‘global dominance’ of the two online advertising giants would be ‘broken’.

Soros said, ‘They claim they are merely distributing information.

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‘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.’

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Soros suggested that the tech giants could ally themselves with authoritarian regimes to supply information on their citizens.

Soros said that the companies could create, ‘a web of totalitarian control the likes of which not even Aldous Huxley or George Orwell could have imagined.’