> I don't believe we had tech moguls who built enormous wealth and realized they could by the influence

Didn't this just describe the robber barons of the Gilded Age? Moguls and oligarchs of the day, yes. Amassed their fortunes on the emerging frontier technology of the time, I'd say so. Wielded enormous power over political discourse and essentially owned the law makers of the day. Rhymes, for sure.

It doesn't really matter whether you live in a democracy if the the very issues that are even allowed to be voted on are decided by an elite, wealthy and politically connected group.