16-1-2025 (WASHINGTON) Outgoing US President Joe Biden delivered a stark warning about the dangers of concentrated wealth and power, as he prepares to hand over the reins to his successor Donald Trump next week.
The 82-year-old Democrat, in his last major speech as Commander-in-Chief, cautioned against what he termed an emerging “tech industrial complex” that could potentially wield unchecked influence over American democracy.
“Our nation stands at a critical crossroads where an oligarchy of extreme wealth and influence threatens the very foundations of our democratic institutions,” Biden declared in his primetime address.
While reflecting on his four-year tenure, the President acknowledged that many of his administration’s initiatives would take time to bear fruit, stating that “the groundwork has been laid” for future generations of Americans.
The speech took a notably darker turn as Biden addressed what he views as mounting challenges to American democracy, making thinly veiled references to Trump’s associations with tech billionaire Elon Musk and other influential figures in the technology sector.
Drawing parallels to President Dwight Eisenhower’s historic 1961 farewell warning about the military-industrial complex, Biden expressed grave concerns about the contemporary influence of tech giants. He particularly highlighted the transformation of social media platform X under Musk’s ownership and Meta’s recent decision to scale back fact-checking operations in the United States.
“Our citizenry faces an unprecedented deluge of misleading information,” Biden stated. “We’re witnessing the erosion of traditional journalism, whilst social media platforms increasingly abandon their commitment to truth verification.”
The President also addressed pressing concerns about climate change, artificial intelligence, and America’s technological rivalry with China. He warned that “powerful interests” could potentially undermine his administration’s environmental achievements under Trump’s leadership.
In an emotional conclusion to his half-century in public service, Biden was joined by First Lady Jill Biden, his son Hunter, and Vice President Kamala Harris. Following the address, touching scenes unfolded as the President embraced family members, including his young grandson Beau.
The speech marked a significant departure from Biden’s recent conciliatory tone towards his successor. His presidency, which began with a victory over Trump in 2020, is concluding after he withdrew from the 2024 race last June following a challenging debate performance against the 78-year-old Trump.
Despite brokering a significant breakthrough earlier in the day with the announcement of a Gaza ceasefire and hostage release agreement between Israel and Hamas, Biden’s approval rating remains at 36 percent, according to recent CNN polling, though still marginally higher than Trump’s exit rating of 34 percent in 2021.
The President concluded his farewell by calling on Americans to remain vigilant in protecting their democratic institutions: “The mantle of responsibility now passes to you, the American people, to stand guard over our democracy’s future.”
