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"The cryptocurrency industry super PACs dumped $14.2 million into the Illinois primaries. 90% of that – $12.8 million – was wasted, in that it went to opposing
by buddhistdude 6mo ago
"The cryptocurrency industry super PACs dumped $14.2 million into the Illinois primaries. 90% of that – $12.8 million – was wasted, in that it went to opposing Democratic candidates who won their primaries"
I read that as them having mistakenly sent the cryptos to the "opposing candidate"
- Quinner 6mo agoThe quote is the wrong way of looking at this. The typical rate of successful primary challenges is only 3%. If you take that to 10% its an enormous success, incumbents will say "if I oppose crypto then I triple my odds of losing in a primary, better not do that."
- DFHippie 6mo agoIt's not quite like that, though. 90% of their funding supported candidates that lost or opposed candidates that won -- they opposed the winning outcome. They supported the winning outcome with the remaining 10% of their funds, but here they pushed on the side of the contest which was already a lock anyway. So it isn't clear that any of the money they spent achieved anything.
- IshKebab 6mo agoWhat? Are you trying to say their spending had no effect because their spending had no effect?
- KellyCriterion 6mo ago..could be a built-in feature of the matter? :-D