Unchecked capitalism is running wild, which increases the gap between rich and poor. Many people are not seeing an increase in their standard of living compared to their parents and grandparents. Populists provide people with convenient scapegoats that appeal to their worst nature and doesn't require much critical thought (it's the immigrants, it's the woke ideology, it's the liberal Hollywood elite, etc. etc.). This is amplified by social media echo chambers, which allow people to easily have their bad ideas validated, while it is simultaneously being deliberately used by bad actors to further divide people and spread hate.