United States President Joe Biden warned in his farewell address that "an oligarchy" of the ultra-wealthy "is taking shape in America," while also calling attention to the rise of a "tech-industrial complex" that could pose "real dangers to our country as well."
This oligarchy, "of extreme wealth, power and influence," endangers US democracy, "basic rights and freedoms and a fair shot for everyone to get ahead," he said. Americans, Biden believes, are "being buried under an avalanche of misinformation and disinformation," which in turn allows for "the abuse of power."
"The free press is crumbling," he added, while also voicing his concern over social media "giving up on fact-checking." The truth is being "smothered by lies for power and for profit," Biden said. "We must hold the social platforms accountable to protect our children and our families and our very democracy from the abuse of power," he stressed.
