Biden warns nation about rise of US tech oligarchy

In his final public address from the Oval Office, President Biden warned the nation about the spread of misinformation and the dangers posed by power-hungry tech leaders.

“In America today, an oligarchy of extreme wealth, power, and influence is forming, literally threatening our entire democracy, fundamental rights and freedoms, and a fair chance for everyone to get ahead.”

In his farewell message Wednesday, Biden restated President Dwight Eisenhower’s warning that the military-industrial complex was causing a “disastrous rise of misplaced power.”

“Sixty years later, I am equally concerned about the potential growth of the technology industrial complex, which poses real risks to our country,” Biden said. Biden praised the innovation and life-changing ability of America’s technology leadership, but said he was concerned about the “dangerous concentration of power in the hands of a few ultra-wealthy people.” Power remains unelected.”

Former Vice President Biden warned, “Americans are buried under a mountain of misinformation and disinformation that promotes abuse of power.” “The free press is collapsing. Editors are disappearing. Social media is giving up on fact-checking. The truth is suffocated by lies told for power and profit.”

On Monday, tech CEOs including Elon Musk, Jeff Bezos, Tim Cook, Sundar Pichai and Mark Zuckerberg attended Trump’s inauguration, joining the former president. He is expected to sit in an honorary position on the podium along with his family and friends. These CEOs reportedly donated $1 million each to Trump’s inauguration fund, either through their companies or through personal donations.