"I want to warn the country of some things that give me great concern. And this is a dangerous concern. And that's the dangerous concentration of power in the hands of a very few ultrawealthy people", Biden stated, emphasizing the imminent threat posed by the concentration of wealth and power.
"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", underscoring the severity of the situation for American democracy.
"I'm equally concerned about the potential rise of a tech-industrial complex that could pose real dangers for our country as well", drawing parallels to past warnings about the military-industrial complex.
"An avalanche of misinformation and disinformation is enabling the abuse of power," Biden lamented, highlighting how social media contributes to the erosion of trust and integrity in information.
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