Tech billionaires want to ‘overthrow democracy’ with social media, Spain PM Sánchez says

The socialist politician lamented that the same sites that had initially helped unite people around the world and empower social justice efforts, such as the #MeToo movement and the Fridays for Future climate protests, were now being used to concentrate “power and wealth in the hands of just a few ... at the cost of our democracies.”

“What truly limits democracy is the power of the elites,” he said. “It is the power of those who think that because they are rich, they are above the law and can do anything. That is why, my friends, that is why the tech billionaires want to overthrow democracy.”

Sánchez said that at the next meeting of European Union leaders in Brussels he will propose that the bloc move to “make social media great again” by imposing regulations and going after their billionaire owners. Among other measures he proposed fighting bots and fake profiles by requiring that users digitally identify themselves, and using the Digital Services Act to go after tech barons whose sites undermine democracy.

“The owner of a small restaurant is held accountable if their food poisons customers,” he said. “Social media tycoons should be held accountable if their algorithms poison our societies.”

Sánchez didn’t point fingers at any specific social media platform owners, but did reference a piece from 2009 by venture capitalist Peter Thiel, in which the PayPal founder — who has attained a great level of influence in the Trump administration — wrote “I no longer believe that freedom and democracy are compatible.”

Earlier this month Sánchez accused X owner Elon Musk of leading "the international far right," inciting hatred and openly supporting "the heirs of Nazism in Germany." At a separate event in Davos on Jan. 21 he called on Europe to unite against the "tech caste."