And that entwinement runs in both directions.

The tech giants have been spared regulation and oversight, in a way that has allowed them to cement their position at the top. Not only does this enable the sort of egregious abuses we've had to become used to, it also stifles innovation and competition - to the detriment of everyone, including their own shareholders.

The USA risks trapping itself in a spiral of oligarchy, reminiscent of Russia in the late 1990s.