Hoda Kotb (15:23)
Now, the pathway to this oligarchy was paved with many things. You had Supreme Court decisions opening the floodgates of unlimited campaign contributions. You had the Republican Party's long held position carrying water for the wealthy. And you had their Democratic Party's Clinton era capitulation to these very same forces. All of these developments led to the money over everything nature of the most recent presidential election in which Kamala Harris raised record breaking amounts of cash in a record breaking amount of time. And where Trump openly promised billionaires he would do their bidding if he was elected. Now, his campaign received extraordinary bribes. $100 million from Miriam Adelson, over a quarter billion from Elon Musk. Musk's donation was of a size that at least as far as we know, has never before seen in history. And Trump is already rewarding his big donors with consequential roles in what amounts to a brazen selling of government positions. According to a CNN analysis, nearly three dozen of Trump's key administration picks were donors to his campaign. Now of course rewarding supporters with positions. That is also nothing new. But the size and scope here are truly without parallel. So for comparison, Joe Biden staffed his admin with 12 people who had previously donated to his campaign or affiliated groups. But where those 12 combined for contributions of about $100,000, Trump's key picks, they combined for $37 million in contributions. And that's without including Elon Musk. Who put $262 million in and now has this powerful whole of government position to remake the entire federal government to suit his personal whims and desires. Yes, American oligarchy has been a long time in the making, but in the incoming administration, it is in full bloom like never before. And you can see the telltale signs both in government molding itself to serve favored oligarchs and in the behavior of wealthy elites who are vying for status as favored oligarchs. Toward that end, we've already been witness to some shameful billionaire groveling. According to npr, major Silicon Valley executives like Bezos, Mark Zuckerberg and Sam Altman, who had previously been Trump adversaries, are dishing out millions to the Trump inauguration in order to curry favor with the incoming president. Salesforce CEO Marc Benioff says he is, quote, turning the page on his Trump relationship. And I'm sure it doesn't hurt that Time magazine, owned by Benioff, just declared Trump Person of the Year. Silicon Valley Historian Margaret O'Mara told NPR, quote, Taken together, the donations and other celebratory gestures showcase an industry kissing the ring of an incoming president in hopes of something in return. It's just a recognition that there's not much to be gained in opposition, but perhaps there is something to be gained by being very clear about your support and hope that Trump does well. Now, Trump himself yesterday actually commented on this shameless groveling. Let's take a listen to that. Did you talk about tariffs in that meeting? With who? Apple CEO Tim Cook? I did have dinner with Tim Cook. I had dinner with sort of almost all of them and the rest are coming. And this is one of the big differences, I think, between we were talking about it before. One of the big differences between the first term and the first term. Everybody was fighting me in this term. Everybody wants to be my friend. I don't know, my personality changed or something, but I had, as you know, I had Sundar from Google, but I also had Sergey. Nobody reported that Sergei is the owner, the primary owner, along with his friend, as you know. And Sergei was here also. I can't believe you didn't pick that one up. Nobody picked that up, but I will tell you, no, it's a big difference. The big difference is that the first time everybody was fighting me. No, Mr. Trump, I don't think your personality changed. But apparently their self interested calculus did and they all went in on the spoils of government largesse and to avoid getting crosswise with the new regime. So what does rule by a cabal of billionaires actually look like. Well, effectively. The project is a familiar one. It's a rugged individualism for you and pampered coddling for the favored few. They want to strip away all powers of the government to curb corporate excess while juicing their own tax cuts, subsidies and contracts. For a more granular view of how this project will operate, one person you should pay attention to is Silicon Valley investor Mark Andreessen. Now, Andreessen says that he has been spending half his time in Florida with Trump, helping to staff and guide the incoming administration. He is also a close buddy of Elon, an ally, having invested hundreds of millions in Elon's various ventures and having backed him in his Twitter takeover. In a podcast with Bari Weiss, Andreessen confirmed that he's advising Trump on tech, business, economics and the, quote, success of the country, and is also helping staff up Musk's Doge Commission. Andreessen and Musk have both been upfront about their plan to undercut any government regulator that has ever stood in their or their portfolio companies. In the case of Andreessen's way, they are taking aim at the cfpb, which has been inconvenient for some of Andreessen's scammer portfolio investments the sec, which has had the gall to check Elon on alleged stock manipulation and furthermore has tried to protect people from crypto scams and the nlrb, which allows workers to form unions. In addition, the incoming Trump administration is taking aim at specific regulations that the ascendant oligarchs find inconvenient. Reuters has reported that the Trump transition team is recommending elimination of an automated vehicle crash reporting requirement that has proven irksome to Tesla. Now you can see why Elon might not be a fan of this particular provision. According to the National Highway Transportation Safety Administration, 40 out of the 45 fatal crashes that were reported to the agency under this provision involved a Tesla, including an accident where a driver using autopilot careened into a tractor trailer, and another where a Tesla hit a fire truck, killing the driver and injuring four firemen. And the Trump transition team describes this data collection as, quote, excessive, but it proved extremely valuable in agency investigations, which led to 2023 Tesla safety recalls. In other words, the data collection was good for public safety, but it was bad for Elon. Public didn't give Trump more than $250 million, did they? So Elon apparently wins. Now, this is a comparatively small example, but if it's your loved one behind the wheel of a Tesla car, on autopilot, it becomes a little more significant. And there is no entity outside the government with the power to make sure that as autonomous vehicles become mainstream, drivers, passengers and bystanders are not put at undue risk for profit. Now that applies obviously, not just with vehicles, but with every sector, including the burgeoning AI and crypto sectors which threaten the global financial system, systems of ethics, states, and potentially humanity itself. These billionaires are driven both by ideology and self interest to make sure that their power is unlimited by any pesky checks of representative democracy. Now, such a project requires a continuation of the war on New Deal programs, which, in fairness, Republicans have been waging since the advent of the New Deal itself. Now, that's important to oligarchs for a few reasons. First of all, a secure social safety net and financially stable working class is less desperate. They have more leverage, more ability to tell an abusive boss to piss off and negotiate for higher wages and better conditions. What's more, a government that delivers for people in a meaningful way builds trust. It earns the confidence of the public that imbues it with more potential power to check those oligarch excesses. So it should be no surprise that in a recent interview with Chris Williamson, Andreessen announced his desire to dismantle the remaining vestiges of the New Deal, pining for what he calls a reverse fdr. Take a listen.