Episode 2317: Is Trump's America now an Oligarchy?

In Keith Teare’s That Was the Week newsletter for this week, he categorically asserts that there is no oligarchy in Trump’s America. Instead there are “just technologists with a passion for change and, of course, self-interest”. But I’m not so sure. So in this issue of our weekly show, Keith and I debate the nature of tech power in America. Keith argues argues against characterizing tech leaders like Musk, Zuckerberg, and Altman as oligarchs, claiming they're simply competing businessmen seeking influence rather than a unified controlling group. He views their alignment with Trump as a reaction to what he sees as over-regulation by the Biden administration. But regardless of whether tech leaders agree on everything, I argue, their enormous wealth and influence on what I call MAGA’s “national capitalism” effectively makes them an oligarchy. Indeed, they are, I think, a textbook example of Aristotle’s definition of “oligarchy” which he defined as "rule by the rich”.

Keith Teare is the founder and CEO of SignalRank Corporation. Previously, he was executive chairman at Accelerated Digital Ventures Ltd., a U.K.-based global investment company focused on startups at all stages. Teare studied at the University of Kent and is the author of “The Easy Net Book” and “Under Siege.” He writes regularly for TechCrunch and publishes the “That Was The Week” newsletter.

Named as one of the "100 most connected men" by GQ magazine, Andrew Keen is amongst the world's best known broadcasters and commentators. In addition to presenting KEEN ON, he is the host of the long-running How To Fix Democracy show. He is also the author of four prescient books about digital technology: CULT OF THE AMATEUR, DIGITAL VERTIGO, THE INTERNET IS NOT THE ANSWER and HOW TO FIX THE FUTURE. Andrew lives in San Francisco, is married to Cassandra Knight, Google's VP of Litigation & Discovery, and has two grown children.