Posted By Global Banking and Finance Review
Posted on January 22, 2025
DAVOS (Reuters) - Social media owners should be held responsible for "poisoning society" and eroding democracy with their algorithms, Spanish Prime Minister Pedro Sanchez told the World Economic Forum in Davos on Wednesday.
Sanchez also said he would propose at an EU Council meeting to end anonymity on social media, including by linking users' data to a common EU identity wallet, and by making algorithms more transparent.
"The owner of a small restaurant is responsible if their food poisons customers; social media tycoons should be held responsible if their algorithms poison our society," he said.
"Let's take back control. Let's make social media great again," he added, mimicking the campaign slogan of U.S. President Donald Trump.
Sanchez said while social media had brought plenty of benefits, such as connecting people, they also came with "huge downsides hidden in the bowels of the algorithms like invaders concealed in the belly of the Trojan horse".
Social media algorithms use data and rules to determine what content to show users.
Attempts to bring social media to account have been risible so far, according to Sanchez. He cited the largest fine meted out to a social media company in the European Union to date of just 0.6% of its annual profit, and called for harsher fines. He did not name the company.
One of a dwindling band of centre-left European leaders, Sanchez has become increasingly vocal in his criticism of social media barons in recent weeks, referring to them as a "techno-caste" and echoing comments by former President Joe Biden of an oligarchy and "tech-industrial complex" threatening democracy.
Spanish Labour Minister and Deputy Prime Minister Yolanda Diaz said on Tuesday she would withdraw from Elon Musk's social media platform X due in part to the billionaire's behaviour during events linked to Trump's swearing-in.
Musk, who is now an adviser in Trump's administration, has also infuriated many in Europe in recent weeks with a string of rants about leaders of several countries, including German Chancellor Olaf Scholz and British Prime Minister Keir Starmer.
(Reporting by Inti Landauro, Charlie Devereux in Madrid; Writing by Emma Pinedo and Andrei Khalip, editing by Rod Nickel)
