Russian President Vladimir Putin Warns Big Tech Monopolies are Becoming More Powerful Than Nation States

Russian President Vladimir Putin warned of Big Tech monopolies taking power that can allow them to supersede nation states during a recent address.

Putin made the remarks while giving an speech before a virtual meeting of the World Economic Forum on Wednesday.

“Digital giants play an increasingly significant role in the life of society. There is much talk about it now, especially in connection with the events that happened in the states during the election campaign,” Putin said.

“And those are not just some economic giants now, in some fields, they de facto compete with nations. Their audience includes billions of users who spend a significant part of their lives on those ecosystems,” he added.

Putin is alarmed at the growing influence of these monolithic tech entities that threaten national sovereignty and the rule of law.

“And from those companies’ point of view, their monopoly status is optimal for technological and business processes. Maybe it is, but there is a question: How does this monopolism serve the interest of society? Where is the divide between a successful global business, high-demand services and big data consolidation, and to rudely try to rule society at their own discretion?” Putin asked.