Is there an American oligarchy?

Techno-Feudalism and Oligarchy

The concept of techno-feudalism is emerging as a prominent concern, highlighting the concentration of wealth and power among figures like Elon Musk in Silicon Valley. This term suggests that these billionaires possess a radically different perspective on governance and societal structures, viewing themselves as the elite with the ability to influence democracy through their immense resources. This dynamic raises significant questions about the implications for citizens and democracy itself, especially as Musk has solidified his position through massive government contracts and control of crucial sectors, such as electric vehicle charging infrastructure. Former Trump advisor Steve Bannon's critique of these oligarchs underscores a growing consensus among various political figures that unchecked wealth can threaten individual rights and democratic integrity.