WASHINGTON (AP) — President Joe Biden in his Wednesday farewell speech to the nation warned that American democracy was sliding into an “oligarchy” of tech billionaires. But what exactly is an oligarchy?
What is an oligarchy?
In short, an oligarchy is an elite few who control the government’s actions.
By using the pointedly negative term “oligarchy,” Biden equated this moment — when the world’s wealthiest men are feting President-elect Donald Trump — with some of history’s more brutal regimes.
Meta CEO Mark Zuckerberg is scheduled to cohost a Trump inaugural reception with wealthy Republican donors next week. Amazon Prime Video, which was founded by billionaire Jeff Bezos, got exclusive licensing
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