At the foundation of the U.S., in the Federalist Papers #51 (1788) it says:
> If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary
To your point:
> I wonder if advances in technology will one day create a coalition of super powerful people who will control the world and will make the rest of humanity salves at best and completely worthless at worst.
It's hard to say we haven't come dangerously close to achieving this approximation already. Regardless of your political affiliation, there was a headline today saying that Facebook is categorizing protests formed on its platform as "dangerous misinformation". This is a dangerously powerful stance that we shouldn't take lightly.