Outgoing President Joe Biden used his farewell address Wednesday night to caution Americans about what he described as a growing “tech-industrial complex” and the formation of an “oligarchy” in the United States.

His remarks, delivered days before President-elect Donald Trump’s inauguration, appeared to take aim at tech leaders like Elon Musk, Mark Zuckerberg, and Jeff Bezos, some of whom have been aligning with Trump.

Biden, 82, expressed concern over the consolidation of wealth and power among a small group of ultra-wealthy individuals.

“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,” he said.

Seated nearby during the address was Hunter Biden, the president’s son, who has been at the center of numerous controversies throughout Biden’s term.

Biden emphasized the importance of family, stating, “To me, family is everything.”

Without naming specific individuals, Biden’s speech included pointed remarks referencing actions by key figures in the tech industry.

Drawing a parallel to President Dwight Eisenhower’s 1961 warning about the “military-industrial complex,” Biden said, “Six decades later, I’m equally concerned about the potential rise of a tech-industrial complex that could pose real dangers for our country as well.”

He criticized the spread of misinformation and the role of social media, claiming it has facilitated abuses of power.

“Americans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power,” Biden warned.

“The free press is crumbling. Editors are disappearing. Social media is giving up on fact-checking.”

Biden’s Farewell Meltdown: Blames ‘Tech-Industrial Complex’ for America’s Problems…

Outgoing President Joe Biden used his farewell address Wednesday night to caution Americans about what he described as a growing “tech-industrial complex” and the formation of an “oligarchy” in… pic.twitter.com/7QaQtezkbY

— RVM News (@redvoicenews) January 16, 2025

These remarks were widely interpreted as a critique of Zuckerberg’s recent decision to shift Meta’s approach to content moderation, including the introduction of a “community notes” system similar to the one pioneered by Musk’s X platform.

Meta’s previous fact-checking system, which sometimes suppressed politically sensitive information, had drawn criticism for alleged bias.

Biden’s comments on misinformation come against the backdrop of criticism over his own record.

He has faced accusations of misleading the public on multiple occasions, including his recent remarks about water hydrant issues in Los Angeles.

The president also addressed artificial intelligence (AI), acknowledging its potential benefits while warning of the risks if it remains unchecked.

“Nothing offers more profound possibilities and risk for our economy and our security, our society, and very often, for humanity,” Biden said.

He called for safeguards to ensure AI remains safe and beneficial.

Biden’s address also touched on tax reform, urging policies to ensure the wealthy “pay their fair share.”

He criticized the influence of dark money in political campaigns, an issue that has benefited both major political parties, including his own.

In the international sphere, Biden highlighted a cease-fire agreement between Israel and Hamas announced earlier in the day but did not credit Trump’s role in facilitating the deal.

He concluded with a call to amend the Constitution to clarify that no president is immune from prosecution for crimes committed while in office.

As Biden prepares to leave office with low approval ratings, he extended a message of goodwill to the incoming administration.

“I wish the incoming administration success because I want America to succeed,” he said, in a moment of measured bipartisanship.

President-elect Trump is set to be inaugurated on Monday, marking the start of a new chapter in U.S. politics.

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