In farewell speech, Biden rails against the tech industrial complex, disinfo dismantling democracy

US President Joe Biden gave his final address to the nation on Wednesday, and said America was visibly sliding into an oligopoly aided by a flood of online disinformation.

In a farewell bid, he cited President Dwight Eisenhower's famous 1961 speech warning of the "military industrial complex," and said today we face an "tech industrial complex."

Biden also noted: "Americans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power." You can watch the full speech below.

“In my farewell address tonight, I want to warn the country of some things that give me great concern," the Democrat said. "And that’s a dangerous concentration of power in the hands of a very few ultra-wealthy people and the dangerous consequences if their abuse of power is left unchecked.

“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.”

Tech billionaires Elon Musk, Mark Zuckerberg, and Jeff Bezos are all expected to attend Trump's swearing-in on January 20. Meta boss Zuck, who just loosened up speech and dumped fact-checking in his apps to appease Trump, and Amazon tycoon Bezos, whose Blue Origin biz seeks rocket-launch contracts from the US government, contributed to the inauguration's costs, while Musk (who also bags huge rocket deals from Uncle Sam) poured hundreds of millions of dollars into Donald's successful reelection campaign and was given a seat at the top table of the next administration.

Editors are disappearing ... The truth is smothered by lies told for power and for profit

Bezos' newspaper, the Washington Post, which adopted the slogan "Democracy Dies in Darkness" during Trump's first term, is now reportedly shifting to a new mission statement, "Riveting Storytelling for All of America," as Trump prepares to re-enter the White House.

Biden went over a few things he wished he had done during his time in power, including a ban on Congressfolk trading in stocks, term limits and ethics rules for Supreme Court justices, and removing presidential immunity. But it was misinformation and a lack of scrutiny that drew the most ire from the soon-to-be-former commander in chief.

"The free press is crumbling," he said. "Editors are disappearing. Social media is giving up on fact-checking. The truth is smothered by lies told for power and for profit. We must hold the social platforms accountable to protect our children, our families and our very democracy from the abuse of power."

It should be noted that Meta is still fact checking around the world as usual, just not anymore in America, at least. The social network confirmed this in a letter to the Brazilian government released on Wednesday.

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Biden also railed against the concentration of wealth by the ultra-rich, likening it to the Gilded Age at the end of the 19th century. The excesses of that period led to Republican President Theodore Roosevelt pushing forward rules for fair business competition and antitrust laws.

"More than a century ago, American people stood up to the robber barons back then, and busted the trusts," Biden opined. "They didn't punish the wealthy. They just made the wealthy play by the same rules everybody else had."

As the land of liberty, America, not China, must lead the world in the development of AI

Biden also took time to warn about the dangers of AI, while praising its possibilities. The day before his speech, Biden signed an executive order instructing the US Department of Defense and the Department of Energy to identify federal lands suitable for hosting new AI datacenters, just one month after the DoE warned [PDF] that bit barns would take up 6.7 percent to 12 percent of US energy consumption by 2028

"In the age of AI it's more important than ever that the people must govern," he said. "And as the land of liberty, America, not China, must lead the world in the development of AI."

He closed off his final address with an impassioned plea for Americans to protect their democracy and the system of checks and balances that has stood the nation well over the past 250 years.

"After 50 years of public service, I give you my word, I still believe in the idea of where this nation stands. A nation where the strength of our institutions and the character of our people matter and must endure," he said.

"Now it’s your turn to stand guard. May you all be the keeper of the flame. May you keep the faith. I love America, you love it, too." ®