Tom Steyer's mega-millions debate gambit flops

[brooklynite]

Politico

Tom Steyer just lost a $16 million bet.

The Democratic hedge fund billionaire leapt into the presidential campaign late with a clear plan: use his mega-wealth to buy his way into the televised party debates, and then use that platform, and his unelected outsider persona, to challenge the front-runners. Steyer spent millions of dollars on TV ads to boost his poll numbers in early caucus and primary states and on digital ads to meet the donor requirements set by the Democratic National Committee.

But after Wednesday’s deadline, Steyer was one poll short of the four 2-percent showings he needed to make the stage, leaving him out of the September debate. He could still make the October stage with one more poll, but his failed fast-track bid to get into the next debate is a signal that Steyer’s young campaign is not gaining traction the way he hoped it would.

It’s the latest example of Steyer dumping tens of millions of his own dollars into an ambitious cause — including turning climate change into the key issue of the 2014 elections, impeaching President Donald Trump and, now, his own, late bid to make the presidential debates — and coming up short. Steyer has spent more than $230 million since 2014 on his own efforts to influence policy and elections, and has said he will pour at least $100 million into his campaign for president. That will give him a massive advantage over other low-polling campaigns — but as Steyer has learned, money can only do so much.

[The Velveteen Ocelot]

1. I wish he'd put his money to work supporting candidates

who have an actual chance of getting elected.

[Funtatlaguy]

2. Like Senate races.

[Autumn]

4. $245 million for the 2014-2018 election cycle.

[customerserviceguy]

3. Reassuring proof

that you can't always buy support or votes.