Day 1458: "An oligarchy is taking shape in America of extreme wealth."

WTF Just Happened Today?

Thursday, January 16, 2025

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1/ Biden, in his farewell address, warned of the rise of an oligarchy and a “tech-industrial complex” that he said threatens democracy, basic freedoms, and economic fairness in the United States. Biden, speaking from the Oval Office, stated, “Today, an oligarchy is taking shape in America of extreme wealth of extreme wealth, power, and influence that literally threatens our entire democracy.” He invoked Eisenhower’s warning of a “military-industrial complex” and drew parallels to the risks posed by technology giants, saying, “Six decades later, I’m equally concerned about the potential rise of a tech-industrial complex.” Biden criticized social media platforms for abandoning fact-checking, lamenting that “The truth is smothered by lies told for power and for profit.” Reflecting on his legacy, he said, “It will take time to feel the full impact of all we’ve done together. But the seeds are planted.” As he prepares to leave office, Biden urged Americans to “be the keeper of the flame” and “stand guard” to protect democracy. (Associated Press / NPR / ABC News / NBC News / Wall Street Journal / The Guardian)

• Biden’s claim that he “could have beaten Trump” in the 2024 election has reportedly left Harris disappointed and saddened, straining their relationship during their final days in office. According to close allies, Harris viewed Biden’s remarks as a reflection of the “one-sided loyalty” in their partnership, which had grown over the years but faced challenges as Harris took the lead on the Democratic ticket. While Biden insisted he stepped aside to unify the party, saying, “I didn’t want to be one who caused a party that wasn’t unified to lose an election,” Harris expressed private frustration over the perception his comments created. The tension was visible during public appearances, including at Jimmy Carter’s funeral, where the two barely interacted despite being seated together. Harris reportedly feels Biden’s statements undermined her campaign and added to the difficulties of her transition out of public office. (Wall Street Journal)

2/ Big Tech executives, including Mark Zuckerberg, Elon Musk, and TikTok CEO Shou Chew, are playing prominent roles in Trump’s inauguration. Zuckerberg and other tech leaders are co-hosting high-profile events during Trump’s second inauguration, aligning themselves with an administration that could shape policies favorable to their industries. Chew has also been invited as an honored guest, despite the platform facing a U.S. ban set to take effect the day before. Other wealthy tech executives like Peter Thiel and Musk are also throwing exclusive parties, while corporations and donors have contributed millions to Trump’s inaugural committee in exchange for VIP access. (New York Times / Washington Post / Axios / WTF Just Happened Today? for more news and headlines, brought to you by Matt Kiser. The WTFJHT Podcast is narrated and produced by Joe Amditis.