I think the thing companies forget is that a lot of them can't remain functional if a shrinking percentage of the population can afford their products. Yes, you can try and appeal to the rich and sell products/services aimed at their needs. But does that work for most companies?

I'd say no. The rich won't buy millions of food items or works of fiction or go to every service available in real life.

So, many of those companies won't remain viable unless there's some alternative way for people to spend money. Lots of people who see themselves at the top will end up out of a job, or watch their businesses crash down.

I will say that the fact these societies are (at least for now) still democracies makes the future these tech moguls want less certain for them though. Feels like if there's enough pain from unemployment and declining living standards, someone will run on that and win, whether those in power like it or not. The US may have some issues there, but a lot of the world has seen parties outside the mainstream grow in popularity, including some on the more leftward side of the political spectrum.

Some companies are discovering that they can get by just fine by overcharging the insanely rich and never bothering with providing goods and services to the middle class or the poor at all. The rich don't buy as many food items or works of fiction, or services as the masses but they don't have to either.

Companies can save a ton of money by not being open to everyone all the time. They can instead focus on providing the most amazing luxury experience customized to the extremely wealthy individuals requesting their services and charge them more than anyone else could afford. While not every company can live off of whale meat, those who can will leave the rest of us behind.

Most of the world's democracies don't have influential AI companies, so if the voters want X and companies want Y, X will win. There's little reason for Indonesian politicians to prioritize the interests of American or Chinese AI companies over domestic voters.