On Wednesday night, President Joe Biden gave his farewell speech from the Oval Office after five decades in politics, referencing job creation, healthcare, infrastructure spending, and a safer nation as accomplishments of his administration.

Key Details: In his speech, Biden warned of "dangerous consequences" if a "concentration of power" in the hands of a few ultra-wealthy individuals goes unchecked. He also claimed victory for the ceasefire deal between Israel and Hamas, saying the deal was developed and negotiated by his administration. 

Key Quote: "Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy. Our basic rights, freedoms and a fair shot for everyone to get ahead."

For Context: Biden's warning about an "oligarchy" and Big Tech comes as Elon Musk, the world's richest person, prepares to lead the new Department of Government Efficiency (DOGE) while his companies, including SpaceX, hold government contracts. Other Big Tech CEOs have moved to support Trump, such as Meta CEO Mark Zuckerberg, who is overhauling longstanding policies to reduce content moderation.

How the Media Covered it: Sources across the political spectrum focused on Biden's warnings of the rise of a new "oligarchy." Sources on the left mainly chose not to reference Trump's statement that "all hell will break out" if the hostages held by Hamas were not released by his inauguration.