President Joe Biden’s denunciations of an emerging “oligarchy” and “tech-industrial complex” appear to be, beyond a ham-handed attempt at an Eisenhower moment of his own, a clarion call to the media in the waning days of his presidency. If network news is to serve as a guide, it appears that the media have heeded the call.
At the conclusion of our analysis of MSNBC’s fawning coverage of Biden’s farewell, we said:
With this “oligarchy” narrative, the media will finalize their shift from Regime to Resistance. Never mind that the narrative is fake and little more than a smoke bomb thrown by a failed president on the way out the door. They’ll run with it just the same.
The shift is now underway. Watch as the networks each amplified the “oligarchy” narrative, albeit from several approaches (click "expand" to view transcript):
RACHEL SCOTT (ABC): And David, just one more note about Treasury Secretary nominee Scott Bessent. Today during his confirmation hearing, he said he would support tougher sanctions on Russia, amid its war with Ukraine. Some Democrats encouraged by those worlds. In the meantime, David, turning to the inauguration, just 24 hours after President Biden warned of an oligarchy taking shape in America, what he called a tech-industrial complex, tonight we have learned a growing list of tech CEOs plan to attend President-Elect Donald Trump's inauguration on Monday. That list includes Apple's Tim Cook, SpaceX and Tesla's Elon Musk, Amazon's Jeff Bezos, Meta's Mark Zuckerberg, Google's Sundar Pichai, and TikTok CEO Shou Chew. All of them, David, will have prominent seats for Donald Trump’s swearing-in, David.
NANCY CORDES (CBS): CORDES: Now the Trump team is looking for ways to buy TikTok some time, with a U.S. ban on the app set to take effect this Sunday. Chew will be seated Monday alongside other tech titans including Tesla's Elon Musk, Meta's Mark Zuckerberg, and Amazon's Jeff Bezos. Those three alone have a combined net worth close to a trillion dollars.
JOE BIDEN: An oligarchy is taking shape in America...
CORDES: In his farewell address last night,President Biden issued a warning about what he described as the tech-industrial complex and the rich men who run it.
BIDEN: And that’s the dangerous concentration of power in the hands of a very few ultra wealthy people.
CORDES: Trump's pick for Treasury Secretary Scott Bessent, who is a billionaire himself, was asked about that at his confirmation hearing today.
BERNIE SANDERS: When so few people have so much wealth and power, do you think that that is an oligarchic form of society?
SCOTT BESSENT: I think it depends on the ability to move up and down the income…
SANDERS: No, that's not really the answer.
SAVANNAH SELLERS (NBC): SELLERS: It all comes just days before Mr. Trump's inauguration. According to three sources, TikTok's CEO Shou Chew is expected to attend, along with the world's three richest men: tech titan Elon Musk, Amazon's Jeff Bezos and Meta's Mark Zuckerberg. Just last night President Biden took aim at Big Tech, and what he called the dangerous concentration of power among a select few.
ABC’s Rachel Scott dropped “oligarchy” at the end of her Capitol Hill roundup, at the back of her coverage of the respective confirmation hearings of Scott Bessent (Treasury), Doug Burgum (Interior), and Lee Zeldin (EPA). Scott made sure to list each of the tech CEOs attending Trump’s inauguration.
CBS’s Nancy Cordes was the most egregious here. Her package was about the tech titan invites to the inaugural, touching on the TikTok ban deadline. Cordes included an incomplete portion of Senator Bernie Sanders’ (I-VT) questioning of Bessent which focused on the “oligarchy” question. Tellingly, Cordes omitted the part of the exchange where Bessent absolutely COOKS Bernie:
BERNIE SANDERS: "Are Elon Musk, Jeff Bezos, and Mark Zuckerberg too wealthy and powerful? Do you agree with President Biden about an oligarchy?"
— KanekoaTheGreat (@KanekoaTheGreat) January 16, 2025
SCOTT BESSENT: "Those three billionaires all made their money themselves. Mr. Musk came to the country as an immigrant. Jeff Bezos..."… pic.twitter.com/rtgwiR0aQH
NBC’s Savannah Sellers had the quickest mention of “oligarchy” within her report that was otherwise focused on TikTok and the looming Supreme Court decision (which upheld the Congressional ban).
Albeit from separate angles, the networks arrived at the same place and followed Biden’s implicit directive, ultimately pushing the “oligarchy” angle. Absent a Russia Hoax, this is as close as it gets. Thus the media signal their shift for Trump 2.0: from Regime to Resistance.
Click “expand” to view the full transcripts of the aforementioned reports as aired on their respective newscasts on Thursday, January 16th, 2025:
ABC WORLD NEWS TONIGHT
1/16/24
6:41 PM
DAVID MUIR: On Capitol Hill, President-Elect Trump’s pick to oversee America’s economy, billionaire Scott Bessent, pressed by senators about the President-Elect's plan to boost the economy, among tax cuts, tariffs, and what the nominee said about sanctions on Russia, amid the war with Ukraine. Rachel Scott on The Hill.
RACHEL SCOTT: Tonight, the man President-Elect Donald Trump has chosen to guide the American economy and tackle inflation taking center stage on Capitol Hill. Treasury Secretary nominee Scott Bessent, a billionaire investor and hedge fund manager.
SCOTT BESSENT: Today, I believe that President Trump has a generational opportunity to unleash a new economic golden age that will create more jobs, wealth, and prosperity for all Americans.
SCOTT: Republican senators asking Bessent to outline the stakes if Congress fails to achieve one of Trump’s top priorities: extending the signature 2017 tax cuts.
BESSENT If we do not renew and extend, then we will be facing an economic calamity.
SCOTT: Democrats pushing back, insisting the Trump tax cuts have only benefited the rich.
TINA SMITH: Now these wealthy people have more money than they know what to do with, and it is certainly not doing anything to lower prices for working families.
BESSENT: I believe that President Trump and, if confirmed, myself, are committed to addressing this affordability crisis, and part of the affordability crisis stems from this great inflation that we've had.
SCOTT: Also facing questions today, Trump's picks for two key environmental roles. For Secretary of the Interior, former North Dakota Governor Doug Bergum, and for EPA Administrator, former New York Congressman Lee Zeldin. Democrats pressing both nominees about Trump’s pledge to roll back environmental regulations.
BERNIE SANDERS: Do you agree with President-Elect Trump that climate change is a hoax?
LEE ZELDIN: I believe that climate change is real, as I told you. As far as President Trump goes, the context that I've heard him speak about it was with a criticism of policies that have been enacted, because of climate change. And I think he's concerned about the economic costs of some policies, where there's a debate.
SCOTT: Republicans insist these nominees strike a balance between protecting the environment and the economy.
JOHN BARRASSO: Congressman Zeldin will correct the course of the EPA.
SCOTT: And David, just one more note about Treasury Secretary nominee Scott Bessent. Today during his confirmation hearing, he said he would support tougher sanctions on Russia, amid its war with Ukraine. Some Democrats encouraged by those worlds. In the meantime, David, turning to the inauguration, just 24 hours after President Biden warned of an oligarchy taking shape in America, what he called a tech-industrial complex, tonight we have learned a growing list of tech CEOs plan to attend President-Elect Donald Trump's inauguration on Monday. That list includes Apple's Tim Cook, SpaceX and Tesla's Elon Musk, Amazon's Jeff Bezos, Meta's Mark Zuckerberg, Google's Sundar Pichai, and TikTok CEO Shou Chew. All of them, David, will have prominent seats for Donald Trump’s swearing-in, David.
MUIR: You’ll be right there with us on Monday. Live coverage all day long here on ABC of Donald Trump’s inauguration. Thank you, Rachel.
CBS EVENING NEWS
1/16/24
6:34 PM
NORAH O’DONNELL: The stage is being set for Trump's inauguration on Monday and the list of tech titans who will be on the platform near President-Elect Donald Trump is growing. It now includes the CEO of TikTok, the day after his app may be banned in the United States. CBS's Nancy Cordes reports on the increasingly cozy relationship between the next president and some of the richest men in the world.
DONALD TRUMP: I, Donald John trump...
NANCY CORDES: When President-Elect Trump is sworn in at noon on Monday, TikTok CEO Shou Chew will have a better seat than most Members of Congress. The invitation disappointed lawmakers from both sides today.
JOSH HAWLEY: Not my favorite thing. Not, not my favorite thing.
MARK WARNER: Democrats, Republicans agree that TikTok is a huge national security concern.
CORDES: Back in 2020 Trump agreed, and tried to force TikTok's Chinese owners to sell the social media platform to a U.S. company.
TIKTOK VIDEO: We voted Donald Trump, baby.
CORDES: But an avalanche of pro-Trump content on TikTok during the campaign appeared to change his mind.
TRUMP: You know, I have a warm spot in my heart for TikTok.
CORDES: Now the Trump team is looking for ways to buy TikTok some time, with a U.S. ban on the app set to take effect this Sunday. Chew will be seated Monday alongside other tech titans including Tesla's Elon Musk, Meta's Mark Zuckerberg, and Amazon's Jeff Bezos. Those three alone have a combined net worth close to a trillion dollars.
JOE BIDEN: An oligarchy is taking shape in America...
CORDES: In his farewell address last night,President Biden issued a warning about what he described as the tech-industrial complex and the rich men who run it.
BIDEN: And that’s the dangerous concentration of power in the hands of a very few ultra wealthy people.
CORDES: Trump's pick for Treasury Secretary Scott Bessent, who is a billionaire himself, was asked about that at his confirmation hearing today.
BERNIE SANDERS: When so few people have so much wealth and power, do you think that that is an oligarchic form of society?
SCOTT BESSENT: I think it depends on the ability to move up and down the income…
SANDERS: No, that's not really the answer.
CORDES: TikTok's fate is still up in the air tonight. Some lawmakers are pushing to delay Sunday's ban to give the company more time to find a U.S. buyer, and we’re still watching to see whether The Supreme Court weighs in at Trump's request. Tomorrow would be their last day to do it, Norah, before the ban goes into effect on Sunday.
O’DONNELL: So many watching very closely. Nancy Cordes, thank you.
NBC NIGHTLY NEWS
1/16/24
6:39 PM
LESTER HOLT: Tonight a stunning about face over TikTok. For months there was rare agreement in Washington that it should be banned if its Chinese owner didn't sell it. But now The White House and others who opposed it are trying to keep it alive. Here’s Savannah Sellers.
SAVANNAH SELLERS: Tonight, a major reversal concerning one of America's most popular apps. The White House saying they will not implement the ban on TikTok set to go in effect this Sunday, according to two administration officials.
ASHCANTLEY: I really feel like this is happening because of us.
SCOTTPOLDERMAN: The fight isn't over. It's just going to be extended.
SELLERS: The battle over the future of the app has gone all the way to The Supreme Court, but now the administration says it won't enforce massive fines on the companies who provide users access to TikTok. It's a stark shift when the law was passed with massive bipartisan support. The president signing it into law.
VANSINTHESAND: Feels like we are losing, like, a community.
SELLERS: Now sources say Democratic lawmakers called The White House asking for intervention and President-Elect Trump, who once opposed the app, has signaled he’ll intervene.
DONALD TRUMP: I’m gonna save TikTok!
SELLERS: But national security officials still warn that TikTok's Chinese parent company Bytedance could steal American user data or manipulate content shown in the app, which TikTok denies. Then-FBI Director Christopher Wray had this warning, speaking with Lester last year.
CHRIS WRAY: We have to sort of step back and say who is TikTok, and ultimately it boils down to the hand which is a matter of Chinese law, of the Chinese government and the Chinese Communist Party.
SELLERS: It all comes just days before Mr. Trump's inauguration. According to three sources, TikTok's CEO Shou Chew is expected to attend, along with the world's three richest men: tech titan Elon Musk, Amazon's Jeff Bezos and Meta's Mark Zuckerberg. Just last night President Biden took aim at Big Tech, and what he called the dangerous concentration of power among a select few.
JOE BIDEN: I am equally concerned about the potential rise of a tech-industrial complex. (VIDEO SWIPE) The truth is smothered by lies told for power and profit.
HOLT: And Savannah- back to TikTok. We’re still waiting to hear from The Supreme Court as to whether it upholds the law in the first place.
SELLERS That's right, Lester. And,in fact, The Supreme Court just announced they will have a ruling tomorrow. That last-minute notice suggests there’s a good chance that we get that TikTok ruling, since the Sunday deadline is quickly approaching. Lester.
HOLT: We will stay on it. Savannah, thank you.
