Sachs is pointing out that a tiny number of billionaires have enormous political influence. Many of the same ultra-wealthy people control major information platforms, including news outlets and social media, and their narratives and algorithms are shaped to protect the future these billionaires want to create. Political power and information power reinforce each other.

This is why some form of plutocracy or oligarchy has been a reality in the US for many, many decades. It's only now being talked about because many are starting to realize it.

Democracy is not much more than a pacifying illusion at this point in time.

What Sachs points out has been going on for a long time, impacting both parties in the US. When a populace doesn't have access to legitimate media, their vote is not worth much, as they aren't accurately informed about what is going on in their world. Very few well funded media outlets are informing citizens well.

One of the biggest challenges facing media today is it has to be profitable. Once this becomes reality, they now have to maintain a paying audience. This usually traps them into having to push narratives to "hold onto" their audience. They become captured by that audience and can't change or they face losing their subscribers. How can media outlets in that environment truly thrive?

Having been in media for 17 years, trust me, you either have to play the game and mislead people or lose your paying audience over time.

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