Biden, Who Demanded that Tech Oligarchs Censor Any Speech Critical of Him or the Democrats, Now Warns Nation Grimly of a "Tech-Industrial Complex" Controlling the Country

Before getting to that, I suppose it's just a total coincidence that Biden's SEC just decided to persecute Musk some more for giving Americans some of their free speech back.

NBC "News:"

The SEC filed a lawsuit against Elon Musk on Tuesday, alleging the billionaire committed securities fraud in 2022 by failing to disclose he had amassed an active stake in Twitter, a secrecy that allowed him to buy shares at "artificially low prices."

Musk, who is also CEO of Tesla and SpaceX, purchased Twitter for $44 billion in late 2022 and changed the name to X the following year. Prior to the acquisition, he'd built up a position in the company of greater than 5%, which would've required disclosing his holdings to the public within 10 calendar days of reaching that threshold.

According to the SEC's civil complaint, filed in U.S. District Court in Washington, D.C., Musk was more than 10 days late in reporting that material information, "allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due." Investors may have bid up the stock had they known about Musk's purchases and interest in the company.

Below, in his halting, lie-filled "farewell address," Biden claims that it's other people who fill the discourse with lies and other people who want to control your speech:

U.S. President Joe Biden warned on Wednesday in his farewell address that an American oligarchy is taking shape among a few tech billionaires who have amassed a "dangerous concentration of power."

Biden warned Americans of a "tech industrial complex," words that echoed President Dwight Eisenhower's farewell address in 1961. Eisenhower, closing out eight years as president, had warned of the dangers of a "military-industrial complex" gaining power in the United States.

"Today, an oligarchy is taking shape in America of extreme wealth, power and influence that really threatens our entire democracy, our basic rights and freedom and a fair shot for everyone to get ahead," Biden said from the Oval Office.
He did not mention names, but Tesla CEO Elon Musk, the world's richest man, has amassed not just vast wealth but has become a powerful adviser to Donald Trump, the Republican who will take over as president from Biden on Monday.

Did he forget names like Mark Cuban, Reid Hoffman, Larry Fink, and George Soros, who have paid billions to the Democrat Party? Did he forget Mark Zuckerberg, who paid $400 million to turn out the vote in left-leaning areas?

No? Just Elon Musk? A one-man oligarchy, huh?

"Six decades later, I'm equally concerned about the potential rise of a tech industrial complex. It could pose real dangers for our country as well. Americans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power," he said.

"The free press is crumbling. Pillars are disappearing. Social media is giving up on fact checking," Biden said.

Update:

𝙺𝚒𝚖𝚋𝚊𝚕 𝙼𝚞𝚜𝚔 @kimbal

It’s also good to double check what politicians say. Kamala was supported by 83 billionaires. Trump was supported by 52.

If there really is a fear of the wealthy influencing our elections, maybe they should do some self-reflection first.

The Democrats' messaging is now all about warning of "oligarchs." 90% they just mean Elon Musk, though they've now added Mark Zuckerberg to the list of oligarchs who must be purged.

Secretary of the Treasury nominee Scott Bessent knocked back Bernie Sanders' mewling about oligarchs, reminding him that Biden just gave a Presidential Medal of Freedom to one of the their many billionaire oligarchs.

posted by Ace at 04:32 PM

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