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George Soros: predictions and how they turned out

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Date: January 2018

Prediction: Facebook and Google will face a reckoning.

“Facebook and Google effectively control over half of all Internet advertising revenue,” the 87-year-old told diners during a speech.

“They claim that they are merely distributors of information. 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.”

Outcome: Somewhat correct.

While both Facebook and Google still exist, both companies have come under severe pressure for privacy concerns related to their business models.

Facebook, in particular, has come under attacks from Congress for the way it was used as part of Russia’s interference in the 2016 presidential election.

The company’s stock fell nearly 44% from its July 2018 high before recovering in 2019.

Source: georgesoros.com

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