This speech is commonly referred to but only for one of its last lines, which is a huge waste of talent.
If you don't have context for this speech, which is supremely important and intelligent, then I suggest you look into the Malcom X vs MLK Jr. in terms of philosophy. Malcolm X is referring to many of the teachings of pacifism and non-violence preached by King in this speech, particularly 18 minutes in when he refers to King's teaching of Jesus' peaceful nature.
Particularly of note, Malcolm X talks a lot about how spin and the press can be used to distort and destroy someone publicly including an interaction with a woman on a plane who he was having a pleasant conversation with him until she found out his name was Malcom X upon which moment she assumed that he wanted to kill all white people.
He also talks about how Elijah Muhammad and how the Nation of Islam failed him and forced him into racism when he despises it most.