Biden warns of emerging oligarchy and tech-industrial complex in farewell address

In his farewell address, President Joe Biden warned of an emerging "oligarchy" of the ultra-wealthy and a "tech-industrial complex" that threatens democracy in the U.S. He compared this situation to past warnings about the military-industrial complex. Biden's speech follows his endorsement of Vice President Kamala Harris after he dropped out of the 2024 presidential race. He acknowledged unfulfilled promises and highlighted his administration's achievements, including pandemic recovery and prescription drug cost reductions. This address marks the end of Biden's presidency and his long political career, which began in 1972. He reflected on his journey from humble beginnings to the Oval Office, expressing gratitude for the support he received from the American people.