George Soros expects regulatory troubles for Google & Facebook

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George Soros expects regulatory troubles for Google & Facebook
Billionaire investor George Soros

Billionaire donor to liberal causes George Soros, is not optimistic about the Facebook and Google revenues as they will have to dodge increasing scrutiny of tax authorities and even legislators. Speaking on 25 January at the World Economic Forum in Davos, Soros said that regulation and taxation will get the better of the two internet giants, Bloomberg reported. The Internet giants have been under regulatory pressure in Europe and face increasing scrutiny in the US, although Soros acknowledged that the European and U.S. climates differ.

“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,” he said, according to a transcript of the speech. European Union officials have sued Google over alleged antitrust violations. In 2016, EU authorities ordered Apple to pay Ireland more than US$ 15 billion in uncollected taxes. Facebook has been fined in Europe on privacy and data protection rules.

The Covid-19 pandemic led to the country-wide lockdown on 25 March 2020. It will be two years tomorrow as I write this. What have we learned in this time? Maybe the meaning of resilience since small companies like us have had to rely on our resources and the forbearance of our employees as we have struggled to produce our trade platforms.

The print and packaging industries have been fortunate, although the commercial printing industry is still to recover. We have learned more about the digital transformation that affects commercial printing and packaging. Ultimately digital will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future.

Web analytics show that we now have readership in North America and Europe amongst the 90 countries where our five platforms reach. Our traffic which more than doubled in 2020, has at times gone up by another 50% in 2021. And advertising which had fallen to pieces in 2020 and 2021, has started its return since January 2022.

As the economy approaches real growth with unevenness and shortages a given, we are looking forward to the PrintPack India exhibition in Greater Noida. We are again appointed to produce the Show Daily on all five days of the show from 26 to 30 May 2022.

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– Naresh Khanna

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