He also took a swipe at social networks such as Meta, which recently announced it would get rid of independent fact-checkers. “Social media refuses to check facts. The truth is drowned out by lies told for power and profit,” said Biden.
And his attack on the super-rich “tech-industrial complex” was a veiled reference to Silicon Valley executives like Elon Musk, the world’s richest man, who is close to Trump and has provided massive financial support to his campaign.
His language echoed that of President Dwight Eisenhower, who warned of a “military-industrial complex” in his 1961 farewell address.
Biden appeared to be referring to Musk when he warned of a “dangerous concentration of power in the hands of a few ultra-wealthy people.”
The term oligarchy refers to a government run by a handful of people, often for their own gain.
The president went on to say that there could be “dangerous consequences if their abuse of power goes unchecked.”
Other tech bosses, such as Jeff Bezos and Mark Zuckerberg, have also made efforts to improve relations with Trump ahead of his return to the White House.
Concluding his departure speech, which is a long-standing presidential tradition, Biden called on Americans to “stand guard” for their country: “May you all be keepers of the fire.”
On the same day, his farewell address arrived he announced a ceasefire agreement between Israel and Hamas, which he mentioned in his opening remarks.
Biden said the negotiations were among the most difficult of his career and took credit for helping to push through the deal.
Under the agreement, the ceasefire will take effect on January 19, the day before Trump is due to take office. The future president also took credit for the deal, saying it was only possible because he won the election in November.
