Joe Biden warns of tech billionaires' threat to democracy in farewell address

[Skye Jacobs]

What just happened? In a stark farewell address from the Oval Office, President Joe Biden issued a grave warning about the growing influence of tech billionaires on American democracy. He described a country where wealth and power have been concentrated in the hands of a few tech titans just as the traditional safeguards against misinformation have started crumbling.

The outgoing president's message echoed concerns raised decades ago by President Dwight Eisenhower about the military-industrial complex, but with a modern twist focused on the tech industry's consolidation of power.

Biden's address painted a picture of an America at risk of becoming an oligarchy, with a small group of ultra-wealthy individuals wielding disproportionate influence over the nation's political landscape. "Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead," Biden cautioned.

The president's warning comes at a time of significant shifts in the tech industry's relationship with politics. Elon Musk, the world's wealthiest individual, has taken an unprecedented role in shaping the incoming administration after reportedly spending $250 million to support Donald Trump's re-election campaign. This level of involvement by a private citizen in campaign financing and subsequent policy-making has raised eyebrows across the political spectrum.

Other tech giants have also made moves that indicate support for the incoming administration. Mark Zuckerberg's Meta recently announced the discontinuation of its third-party fact-checking program for its platforms in the United States, a decision that has sparked concerns about the spread of misinformation.

Biden addressed this directly, stating, "Americans are being buried under an avalanche of misinformation and disinformation enabling the abuse of power. The free press is crumbling. Editors are disappearing. Social media is giving up on fact-checking. The truth is smothered by lies told for power and for profit."

The upcoming inauguration of Donald Trump as the 47th U.S. President illustrates Biden's concerns. Tech CEOs including Musk, Jeff Bezos, Tim Cook, Sundar Pichai, and Zuckerberg are expected to attend, occupying positions of honor alongside former presidents and family members.

Many of these same tech leaders have reportedly made substantial donations to Trump's inauguration fund, with several companies and individuals contributing $1 million each. This financial support, coupled with recent visits by tech executives to Mar-a-Lago to discuss policy matters with Trump, has fueled speculation about the potential influence these companies may wield over future tech regulations and antitrust enforcement.

As Biden prepares to leave office, his words serve as a sobering reminder of the challenges facing American democracy in the digital age. Whether these concerns will be addressed remains to be seen, but Biden's parting message has certainly brought the issue to the forefront of national discourse.

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Joe Biden warns of tech billionaires' threat to democracy in farewell address

 

[Puiu]

When billionaires have stopped making political decisions behind closed doors and are actively doing in the spotlight... you know things have gone down south hard.

This reminds me of a quote from Hellsing ultimate Abridged by TFS:

"ROB: Tell me… How are the Americans doing since… the incident?

MAN: Well, there was a bit of a stir when they decided that since corporations are people… they could technically run for president. But President Walt Disney Pepsi Comcast has done wonders for the economy… being that it is… now the economy."

 

[Lowhangingfruit]

It's been incredible to see the animal farm rise of big tech. These companies started out as disruptors. Changing the status quo of long established conglomerates. In the span of 20 years they've become far larger and more powerful than the companies they put out of business. And from the looks of it a lot more evil.

 

[CBTex]

No warning about billionaire Soros though?

Why is Biden only saying this after Zuckerberg stopped censoring information that some of which turned out to be truth? I guess Biden thinks the only source of disinformation should be the legacy media.

Maybe the message should be that people need to be critical thinkers no matter where the information comes from, especially when it comes from the government.

 

[R00sT3R]

It's the sociopathic nature of these tech billionaires that is most disturbing.

Nearly all of them have come from a life of privilege & wealth. They have no experience of what 99% of the rest of us have to deal with.

This lends them an attitude of the people must be led, not consulted.

 

[Anton Longshot]

Thumbs up to Biden for this.
I think the super rich shouldn't be allowed to be super rich, and definitely shouldn't be allowed to use their riches to buy power.
Late-stage capitalism is ruining the USA and other countries like my own (NL) are following in its footsteps.
The "poor getting poorer and the rich richer" phenomenon is totally getting out of hand.

 

[polvooo]

Thumbs up to Biden for this.
I think the super rich shouldn't be allowed to be super rich, and definitely shouldn't be allowed to use their riches to buy power.
Late-stage capitalism is ruining the USA and other countries like my own (NL) are following in its footsteps.
The "poor getting poorer and the rich richer" phenomenon is totally getting out of hand.

So someone writes you a check for 10 million dollars and you tell them, what? "No thank you, I shouldn't be allowed to have that"? Something tells me that wouldn't happen

 

[BuckarooBonzaii]

All past presidents are super rich too or at least xx% times greater than many families combined. They just know how to better hide it than the tech giants. All tech giants made money for the politicians. Don't forget which political families are super rich with their continuing investments and portfolios. Don't be fooled by any speech left or right.

 

[Anton Longshot]

So someone writes you a check for 10 million dollars and you tell them, what? "No thank you, I shouldn't be allowed to have that"? Something tells me that wouldn't happen

I don't consider 10 million super rich territory, do you?

 

[gdavid65]

I don't consider 10 million super rich territory, do you?

Well 10 million buys you at least a short audience with the King.. and it seems for 250m, well, he will suck your...

 

[Dimitriid]

Good thinking Joe, too bad you weren't like the President to do something about that, I'm sure you wouldn't get side tracked to aid in the genocide of Palestinians to the point it literally costs your party the election or nothing and would get this stuff done to right the ship!

 

[ScottSoapbox]

...just as the traditional safeguards against misinformation have started crumbling

What are the traditional safeguards against misinformation?

Media conglomerates in the pocket of the Democratic Party?

Or the other media conglomerates in the pocket of the Republican Party?

Or perhaps we mean the general censorship of media that was strongly extended to social media platforms starting with COVID?

Just trying to understand which "safeguards" we're talking about so I can better understand the context of this article.

 

[ScottSoapbox]

Thumbs up to Biden for this.
I think the super rich shouldn't be allowed to be super rich, and definitely shouldn't be allowed to use their riches to buy power.
Late-stage capitalism is ruining the USA and other countries like my own (NL) are following in its footsteps.
The "poor getting poorer and the rich richer" phenomenon is totally getting out of hand.

The rich have always had power even back to ancient times. Money buys a lot governmental influence be it democratic, communist, socialist, or even ancient kings and pharaohs.

The problem isn't capitalism (late stage or otherwise) but the "crony capitalism" we've replaced it with as the government controls over 50% of the GDP in the US. Regulatory capture ensures that the government serves the rich individuals and companies. Ironically the masses keep voting to make the government bigger and more powerful to "stop the rich" which only gives them more power and influence to easily buy from politicians and bureaucrats.

 

[RF Match]

"No warning about billionaire Soros though? "

***** ABSOLUTELY ********
Such hypocrites!

 

[GodisanAtheist]

The rich have always had power even back to ancient times. Money buys a lot governmental influence be it democratic, communist, socialist, or even ancient kings and pharaohs.

The problem isn't capitalism (late stage or otherwise) but the "crony capitalism" we've replaced it with as the government controls over 50% of the GDP in the US. Regulatory capture ensures that the government serves the rich individuals and companies. Ironically the masses keep voting to make the government bigger and more powerful to "stop the rich" which only gives them more power and influence to easily buy from politicians and bureaucrats.

-Thing is, there are the wealthy who know when to throw the little guy a bone vs the wealthy whose heads get thrown because they didn't.

FDR was a rich SOB from old money, but the New Deal was as much about stopping a potential communist revolution in the US as it had anything to do with kick-starting the economy (which massive government spending and WW2 ended up doing).

We're slipping back into the gilded age, robber Barron era, where the wealthy existed in a different universe from the average Joe, only peering down upon the teaming masses when violent, armed insurrection appeared possible among the workers.

 

[Volleyball Face]

Thumbs up to Biden for this.
I think the super rich shouldn't be allowed to be super rich, and definitely shouldn't be allowed to use their riches to buy power.
Late-stage capitalism is ruining the USA and other countries like my own (NL) are following in its footsteps.
The "poor getting poorer and the rich richer" phenomenon is totally getting out of hand.

When people get suckered into going to bed with a Cluster B personality disordered person, when the Cluster B feels they're going to be a threat, the personality disordered person that used them will always create a smear campaign in public and throw those people under the bus. They view others as an object to be exploited for they're own personal gain. These companies had it coming.

 

[pnntmp]

Isn't it amazing that Biden noticed this now, after using tech billionaires' platforms for mass censorship and gaslighting the population for 4 years?

These platforms actually won him the 2020 election, by killing the Hunter Biden laptop story.

 

[hover389]

Biden had alot more billionaires supporting him than trump did

 

[Volleyball Face]

Isn't it amazing that Biden noticed this now, after using tech billionaires' platforms for mass censorship and gaslighting the population for 4 years?

These platforms actually won him the 2020 election, by killing the Hunter Biden laptop story.

If you know what a Cluster B personality disordered is, they all follow the same predictable patterns. I saw this coming for anyone that got in bed with Joe. After being used, they throw people under the bus. From student loan forgiveness (how did that work for you after casting your votes hoping it'll be true?) to tech companies that adopted a leftist ideology because they created a 21st Century skinner box and wanted Government subsidies and holding onto their Federal Government exception status to gain more money.

 

[arrowflash]

Like other comments have already said.

It's funny seeing Biden and other leftists everywhere now expressing concern at the idea of big tech oligarchs getting involved in politics, only after they started throwing a few bones for Trump and hinting at swinging the pendulum back a bit. When the big tech oligarchy have been openly on their side and doing lots of shady, unethical and plain illegal things in their favor for the past 8 years.

 

[Nobina]

They lost support of some billionaire CEOs, and now they are a problem.

 

[axiomatic13]

Biden had alot more billionaires supporting him than trump did

What a silly and very fact checkable statement? Trump has 13 billionaires in his upcoming cabinet. For comparison, Biden only has 15 millionaires and ZERO billionaires.

 

[Anton Longshot]

If you know what a Cluster B personality disordered is, they all follow the same predictable patterns. I saw this coming for anyone that got in bed with Joe. After being used, they throw people under the bus. From student loan forgiveness (how did that work for you after casting your votes hoping it'll be true?) to tech companies that adopted a leftist ideology because they created a 21st Century skinner box and wanted Government subsidies and holding onto their Federal Government exception status to gain more money.

You think Trump's a healty personality don't you?
HAHAHA!

 

[EdmondRC]

This was all okay of course, when they supported Democrats.

 

[GodisanAtheist]

Like other comments have already said.

It's funny seeing Biden and other leftists everywhere now expressing concern at the idea of big tech oligarchs getting involved in politics, only after they started throwing a few bones for Trump and hinting at swinging the pendulum back a bit. When the big tech oligarchy have been openly on their side and doing lots of shady, unethical and plain illegal things in their favor for the past 8 years.

- The weird thing about this argument is that you're saying its not OK... but then saying "haha they're on our side now". Is it not ok or is it only OK when the big money is on your team?

Problem is its never OK, no matter who is under the thumb of the oligarchy.

The issue with social media is it democratizes lies. Back when America was great, we had like 2-3 major TV news networks and a handful of major newspapers, all run by the ultra wealthy, and they all disseminated the same lies. So at least America got to share in a (broadly) common lies/facts and then the disagreements really came from how to properly address the issues.

Today, there is no shared lie among the American people. Even the concept of what is truth and lie is not shared. The very fabric of human unity (collective belief) is under assault