Tech PACs Are Closing In On The Almonds

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3d ago 16:28

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In my 2019 post Too Much Dark Money In Almonds, I asked: why is there so little money in politics?

During the 2018 election, Americans - candidates, parties, PACs, and small donors like you - spent a combined $5 billion pushing their preferred candidates. Although that sounds like a lot of money, Americans spent $12 billion on almonds that same year. Why the imbalance? The oil industry has strong political opinions, and they make $500 billion per year. Do they really think electing oil-friendly politicians isn't worth 2% of revenue?

We debated how this could be. Some of the discussion proved prescient - I asked if maybe Elon Musk should buy some kind of social media property. But we never found a good answer, and the implied question remained open: if some billionaire wanted to spend an actually relevant percent of his net worth on politics, could he just take over everything?

I recently talked to some Silicon Valley political consultants who updated me on the status of this issue: Marc Andreessen tried this in 2024 and it basically worked. Now he is trying it a second time, it will probably work again, and Marc Andreessen will probably own every politician twice over.

https://www.astralcodexten.com/p/tech-pacs-are-closing-in-on-the-almonds

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