Soros accuses Facebook, Google of manipulation and deceit

Billionaire investor George Soros says social media companies, particularly Facebook and Google, are becoming "obstacles to innovation" as they have become too powerful and should be broken up.

While often playing an "innovative and liberating role," the companies are deceiving users "by manipulating their attention" and "deliberately engineering addiction" to their services, Soros wrote on opinion website Project Syndicate.

According to him, the two firms profit from making users stay on their websites for long periods of time. Due to the size of the companies, content providers have to "accept whatever terms they are offered," but that is only helping Facebook and Google become more profitable.

"Indeed, the exceptional profitability of these companies is largely a function of their avoiding responsibility - and payment -...

Continue reading on: