Biden’s Farewell Address Warns of Emerging Oligarchy and Tech-Industrial Complex

In his farewell address from the Oval Office, President Joe Biden warned of a rising “oligarchy” in America, highlighting the concentration of wealth and power among ultra-rich individuals. He expressed concern over a burgeoning “tech-industrial complex” that he believes threatens democracy and fundamental rights. Biden drew parallels to President Dwight Eisenhower’s 1961 caution against the military-industrial complex, emphasizing the dangers of unchecked power in the hands of a few. He criticized the spread of misinformation by social media companies and called for regulatory measures to ensure accountability. Additionally, Biden advocated for fairer tax policies, transparency in campaign financing, and constitutional amendments to enforce presidential accountability and Supreme Court term limits. He also acknowledged the potential risks and benefits of artificial intelligence, urging for appropriate safeguards. Biden concluded by expressing hope for the success of the incoming administration, underscoring the importance of a peaceful transition of power for the nation’s future.