Scott Alexander at Astral Codex Ten:
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.
More here.
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