Wow. Think about this for a moment.
For all the press that the netroots has gathered, looking at the actual fundraising in the two most-hyped “netroots” races is telling.Connecticut:
Cash on hand:$4,279,088
Cash on hand:$276,976
Note that Lamont has given $1,501,500 of the $2,792,683 his campaign has raised; Lieberman has given $0.
Cash on hand:$6,617,620
Cash on hand:$424,245
Note that Webb has given $100,000 of the $1,135,819 his campaign has raised; Allen has given $0.
Money isn’t everything in campaigns, and personally, I’m unhappy that it matters as much as it does. I generally support stronger limits on campaign giving and spending (yeah, yeah, I know, 1st Amendment – but why should a zillionaire’s voice matter a zillion times as much as a dolleraire’s).
But the interesting thing to me is that after a major push by the ‘roots, and massive national press, neither campaign has raised serious money.
I keep thinking back to the 90’s when the press would anoint three guys in sweaters and t-shirts working in a shared office as The Next Big Thing and all kinds of good things would happen – VC money, buyouts, etc.
But when it came time to actually build businesses, there was often less than met the eye.
As one of the guys in sweaters and t-shirts this time around, it behooves me to think hard about that.