Speaking on a virtual fundraiser call last night, Obama said the “energy” on the streets was not an assurance of victory, and could still fail to result in “real change” being enacted.

The former president also said Biden supporters had to guard against being “complacent or smug” heading into the November election, noting that President Donald Trump had already “won once.”

“Just because this energy is out there does not mean that it assures our victory and it does not mean that it gets channeled in a way that results in real change,” Obama said.

“Because the truth is what we’ve also seen, and this began during our presidency… is that there’s a backlash that is fierce against demographic change, against the sense of people feeling embattled and not understanding what’s happening with respect to African Americans or women or the LGBT community or others, just asking for a seat at the table.”

Earlier in the fundraising call, the former president also warned against complacency and smugness in the face of Trump’s declining approval rating and poll numbers.

“We can’t be complacent or smug or sense that somehow it’s so obvious that this president hasn’t done a good job because, look, he won once,” Obama said.

He also told young Biden supporters that there was “no contradiction” between getting involved in political institutions, and also being part of a social movement.

The former president further said that the political process was “always going to be slower” than movement activism, but still necessary for creating real change.

“We have this unique chance to translate a growing awareness of injustice in society into actual legislation and institutional change…and those moments don’t come too often,” Obama said.

Biden’s presidential campaign raised $7.6 million from the digital fundraiser event with Obama, with 175,000 supporters making contributions, and around 120,000 people attending the talk.

The former vice president’s campaign manager Jen O’Malley Dillon said the $7.6 million donation haul was the largest the campaign had received from a single event so far.

Biden beat the president’s re-election campaign on monthly fundraising for the first time in May, taking home a little more than $80 million last month while Trump bagged $74 million in donations.

Newsweek has contacted the Biden 2020 campaign for further details, and will update this article with any response.