In his farewell address on Wednesday, President Joe Biden expressed deep concern over a growing “tech industrial complex,” drawing parallels to President Dwight Eisenhower’s 1961 warning about the “military-industrial complex.” Biden cautioned that a small group of tech billionaires is amassing unprecedented power, endangering democracy, free press, and equal opportunities.
“An oligarchy is taking shape in America of extreme wealth, power, and influence,” Biden stated from the Oval Office. He criticized the spread of misinformation through social media and the decline of fact-checking, which he argued enables abuse of power.
Without naming names, Biden’s comments appeared to reference figures like Elon Musk, Jeff Bezos, and Mark Zuckerberg. Musk, who owns X (formerly Twitter), reportedly spent over $250 million supporting Donald Trump’s recent presidential campaign, aligning with other tech magnates heavily involved in Trump’s inauguration.
Biden also underscored the dangers of artificial intelligence, calling it “the most consequential technology of all time.” He emphasized the need for AI to be “safe and trustworthy,” advocating for U.S. leadership in AI development over competitors like China.
Social media giants, including Meta and X, have scaled back content moderation, reducing fact-checking and restrictions on divisive topics. This shift has drawn criticism for exacerbating political divides.
Biden’s warnings echo Eisenhower’s concerns about unchecked power dynamics, emphasizing the risks posed by an unchecked tech sector. “It’s critical that the people govern,” Biden concluded, urging vigilance in preserving democracy and freedom.
Also read: SpaceX Launches Dual Moon Landers from Japan’s ispace and U.S. Firefly
