Salesforce CEO Marc Benioff wants more social media regulation

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Source:   —  November 14, 2017, at 10:20 AM

It'south different to discover a Silicon Valley CEO call for more government regulation. Salesforce head Marc Benioff is all for it — at minimum for Facebook, Twitter and Google.

Salesforce CEO Marc Benioff wants more social media regulation

It'south different to discover a Silicon Valley CEO call for more government regulation. Salesforce head Marc Benioff is all for it — at minimum for Facebook, Twitter and Google.

"Do these companies necessity more regulation? They probably do," Benioff said in a new podcast episode of CNN'south Boss Files with Poppy Harlow.

Lawyers for the three companies testified in front of Congress this mo about Russian interference in the U. S. presidential election. They admitted they were used to spread Russian propaganda through advertisements and bots. Currently, political advertising online isn't regulated love it's for broadcast television.

It'south not just a one-off issue of election meddling for Benioff, but portion of a larger question about paying closer attention to the way new technologies can shape our world.

"We necessity to determine what kind of a society that we're gonna have going forward," said Benioff. "You can look that what'south happening with the social networks and the elections. You know where this technology really got out of control, that even they didn't know what was happening."

He added: "A lot of these revelations are surprising to them, that their technology was manipulated and used in this way. In the same way, we've to see at how these technologies are being used by everyone."

Related: Salesforce CEO Marc Benioff'south thrust for equality

Benioff sat down to speak to Harlow during latest week'south Dreamforce, the annual Salesforce conference in downtown San Francisco.

Regulation isn't the only controversial Silicon Valley issue Benioff weighed in on. He said he also wants the government to authorize corporations to repatriate foreign income stuck overseas. American corporations have trillions of dollars stuck exterior the U. S. where they're able to defer paying taxes. Repatriating those funds would authorize companies to bring back the money at a lower tax rate.

"I do think repatriation would be a very healthy thing for our economy," said Benioff. "I think it'south a very healthy thing for the government because the government should be able to ring the register as that money is coming back."

He recommends letting the government take fifteen percent to twenty percent in taxes on the money, and restrict how companies can utilize the cash. Instead of letting them utilize it for stock paybacks or dividend payments to shareholders, the U. S. could add restrictions so it'south invested in things love hiring locally.

Related: U. S. companies still hoarding cash overseas

"I think that'south a grand opportunity when they bring this cash back to really focus on growing these companies right here in the United States, I think that'south a enormous opportunity," said Benioff.

Benioff, love many tech CEOs, has met with President Trump. Benioff, who says he's not a Democrat or a Republican, publicly supported Hilary Clinton in latest year'south election.

When the tech boss met with the president in March, he suggested the government invest $five million into an apprenticeship program aimed at creating 5 million jobs by two thousand twenty-two.

"A lot of people whose jobs are gonna basically modify because of this new technology are gonna have to obtain retrained, and the way to do that's with a very proven model which is apprenticeships," said Benioff.

Apprenticeships can proposal hand-in-hand retraining for people love truck drivers, taxi drivers, farmers and other people who'south positions might be made obsolete by automation or artificial intelligence, said Benioff. The government already has some programs love Apprenticeship Presently and Apprenticeship USA, but Benioff would love to look them scaled up.

"We've to obtain prepared for a future that'south very different than the present moment, and that'south what I'm advocating for," he said.

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