In his farewell address last week, President Biden warned of America’s transformation into an “oligarchy” lorded over by a new “tech-industrial complex.” His clear targets were the tech barons who, both before and after the November election, have flocked to Mar-a-Lago to kiss the ring, including Elon Musk, Jeff Bezos, and Mark Zuckerberg. As Donald Trump takes office on Monday, many of these men—who donated many millions to his campaign and his inaugural fund—will be in his retinue.
Biden’s warning was cynically partisan. After all, he and his party are all too happy to accept the donations and endorsements from the many billionaires who haven’t defected to the enemy camp. But those who believe MAGA must represent the interests of the working-class base that lifted Trump to victory again shouldn’t dismiss concerns about the excessive power that may be wielded by figures like Musk in the new administration. This is especially true because he and other recent MAGA converts from the tech industry have shown a perilous misunderstanding of what the movement is about, and their influence threatens to undermine its agenda.