90% of crypto's Illinois primary spending failed to achieve its objective (mollywhite.net)
72 points by speckx 3 hours ago
tptacek 2 hours ago
Nobody's lobbying achieved objectives in the Illinois primary, which is more a statement about the ineffectiveness of lobbying (at least in these kinds of races) than anything else. The candidates that won were the candidates you'd expect to win given demographics and the recent political history of the region.
longislandguido 8 minutes ago
> The candidates that won were the candidates you'd expect to win given demographics and the recent political history of the region.
If the news is to be believed, the online influencer with no elected office experience came within a couple points of the experienced politician that won, so I would disagree with your assessment.
https://www.msn.com/en-us/news/politics/lefty-influencer-kat...
A 4 point lead over someone barely over the Congressional age requirement with no experience is hardly a clear-cut win and almost margin-of-error territory.
bombcar an hour ago
I've often thought that the "effectiveness of political spending/lobbying" is often promoted by those who receive the political dollars and lobbyists.
And since it's a great way to answer the "If your side/candidate/issue was so great, why did they lose?" question without having to deal with any introspection whatsoever.
PaulHoule an hour ago
There was a really amusing article in Bloomberg Businessweek a few years ago which pointed out that most of the really big donors just sprayed money at a unicause indiscriminately and that Michael Bloomberg was the only one that showed any sign of investing rationally.
I mentioned that to my wife and she of course rolled her eyes because it seemed so self-serving to her. (Last night we were sitting around the kitchen table and talking about how much better The Economist was than Bloomberg Businessweek and how I finally canceled my subscription to the latter when they hired genius financial writer Matt Levine [1] to write a whole issue boosting crypto in a 200% cringe writing style just before the FTX scandal broke)
[1] ... sent him an email about how sorry I was for him!
onlyrealcuzzo an hour ago
It's interesting how much money is spent lobbying at the primary stage, when you can always just shop around congress AFTER the electins for the cheapest whore to buy out and find someone for pennies on the dollar.
epolanski an hour ago
Not easy and effective post election .
The candidate doesn't own you anything and cannot receive donations directly anymore. Thus you get to pull the corruption, illegal, or indirect, less effective, cards.
Supporting the candidate to get him elected is much different.
drysine 9 minutes ago
HDThoreaun an hour ago
Maybe it's a sign that your "pennies on the dollar" theory needs some work?
mmahd7456 32 minutes ago
Throwing money at a Republican primary candidate in Illinois is probably as ineffective as it would be in New York. The big cities are just too deeply Democratic.
daft_pink 2 hours ago
Pretty sure primary sending isn’t very helpful when it’s intended to change election results.
What’s helpful is donating to people who you already know are going to win so that they do you favors later on.
itsdesmond 2 hours ago
The article suggests something like 90% of their spend was intended to change results. Can you help me understand your comment? I don’t get it.
arijun 2 hours ago
They are saying that was a bad strategy and not the usual one. I have no idea to what extent that’s true.
shimman an hour ago
vasco 2 hours ago
He means in politics you don't need to bet on the winning horse, you can just bribe him after he wins. Or bet on both.
itsdesmond an hour ago
rfw300 2 hours ago
On those terms, they also wasted a lot of cash. 90% of it went to candidates who lost (or opposing candidates who won).
lotsofpulp 2 hours ago
I don't understand how a blanket statement like this can apply. In a voting district where one party is heavily favored, such that that party's primary election winner is basically going to win the general election (e.g. New York City), then primary spending seems like the only place to influence the election.
blitzar an hour ago
The aim is not to influence the election it is to own the person who wins the election. The less likely they are to win the cheaper it is, but higher the chances it is all for nothing.
Arainach 3 hours ago
Is there a writeup of the objectives of lobbying/spending here? Are specific bills/topics proposed for the upcoming session?
duped 3 hours ago
https://www.pbs.org/newshour/politics/cryptocurrency-and-ai-...
They're concerned about regulation, as always.
Note that this election has no impact over the current congress. Senators and Reps won't be seated until January.
buddhistdude 2 hours 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 2 hours ago
The 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 2 hours ago
It'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 4 minutes ago
KellyCriterion an hour ago
..could be a built-in feature of the matter?
:-D
BurningFrog an hour ago
Fortunately, you can't typically "buy" elections by donating to campaigns.
Campaign spending does have an effect for unknown candidates, but once the voters know who you are and what you stand for, further spending doesn't move the needle.
It's true that the campaign with most money usually wins, but that does not the money caused the win!
One way to think about it is that the most popular candidate naturally gets the most donations, just like they get the most votes. It can also be a good investment to be on good terms with the future winner.
lagniappe an hour ago
>Fortunately, you can't typically "buy" elections by donating to campaigns.
Having a Fox Mulder moment, because I too, want to believe. However, it makes me think, if it didn't work to some degree, whatever that may be, it wouldn't be common.
bombcar an hour ago
Having been involved in some political campaigns and movements, I totally believe that nobody knows the ROI on where the dollars are going.
HDThoreaun 43 minutes ago
Political campaigns certainly need money, but there are heavily diminishing returns pretty quickly. In races where all the candidates have money just throwing more in doesnt seem to accomplish much.
ozgrakkurt 25 minutes ago
“Good investment” is looking a bit suspicious there
jmyeet 2 hours ago
You can't talk about what happened in the Illinois primaries without talking about the other PACs who spent big, specifically AIPAC and other dark-money Israel-affiliated PACs that spent to defeat pro-Palestinian candidates (eg Kat Abugazaleh) without ever once mentioning Israel [1].
It's far more accurate to say that pro-Zionist groups spent big in the Illinois primary and got mixed results. Crypto just went along for the ride.
There is a war in the Democratic Party between anti-genocide candidates, who enjoy 90% support in the base, and the establishment who is doing everything to defeat them, up to and including intentionally losing the 2024 presidential election [3].
Nobody cares about crypto.
[1]: https://www.politico.com/news/2026/03/18/aipac-israel-illino...
[2]: https://news.gallup.com/poll/702440/israelis-no-longer-ahead...
[3]: https://www.thenation.com/article/politics/dnc-autopsy-gaza-...
thuridas 2 hours ago
I Will never understand why US allows this kind of political intervention.
tptacek 2 hours ago
Pesky thing called the First Amendment.
Henchman21 19 minutes ago
chimeracoder an hour ago
kubb an hour ago
vkou an hour ago
wyre 2 hours ago
polothesecond an hour ago
PearlRiver 21 minutes ago
A lot of rich people were afraid democracy would change the world but it turns out those with money will always have the power.
And this is not an American thing every country has its lobbying industry.
ourmandave 2 hours ago
I don't understand why they'd throw an election so the other pro-Israel side can win.
t-3 26 minutes ago
They didn't throw the election per se, they just didn't try very hard to win a fight they could easily lose. Why burn bridges with a very important ally over something that might not end up being your problem?
HDThoreaun 37 minutes ago
Kat Abugazaleh was a carpet bagger with literally 0 experience governing. The fact that she came close to winning is an indictment on our meme obsessed voting population and imo proof that ranked choice is absolutely needed. There were multiple bonafide progressives in the race with local roots and experience in the state house but the progressive movement abandoned them in favor of a candidate who ran their campaign from tiktok with 85% of the fundraising from out of state. Honestly a disgrace.
jmyeet 10 minutes ago
That's a long way of saying "Kat ran a better campaign".
I have criticisms of her campaign, specifically
1. She was a carpet-bagger (as you said). She moved in Illinois in 2024 I believe;
2. She initially ran in a district she didn't live in. I believe she initially lived in IL-7 but ran in IL-9 and moved there at some point;
3. She chose to primary a relatively good candidate, Jan Shakowsky. My working theory is she was trying to fly under AIPAC's radar by primarying a relatively pro-Palestine candidatei; and
4. She essentially advocated for going to war with China over Taiwan for literally no reason. Nobody in her district cares about this. You can blame that in part on having a bad foreign policy advisor but the buck stops with the candidate.
And despite all of that and millions being spent against her by pro-Israel groups she still got ~30% of the vote and came second.
But as for "better candidates", I'm sorry but my advice is "run a better camapign".
tootie an hour ago
AIPAC was promoting the third place finisher. They opposed both Biss and Abugazeleh who finished first and second.
delecti an hour ago
In his victory speech, Biss credited J Street. So still Israel, just not AIPAC specifically.
tptacek 2 hours ago
This is just activist cope. Voters in Illinois CD7, where I live, didn't put Melissa Conyears-Ervin (lavishly supported by AIPAC) into a tight second-place run against La Shawn Ford because Israel bamboozled them. If you look at the map of where the MCE votes came from, it's very unlikely any of them gave a shit about Israel whatsoever. Her votes followed the exact same pattern as they did in 2024, when she gave Danny Davis (the long-term incumbent) a run for his money, and when she wasn't supported by AIPAC at all.
In the Illinois 9th, AIPAC supported candidate seemingly at random in an attempt to split the progressive vote and clear a path for Laura Fine. Didn't work there either.
It may very well be the case that Israel is disfavored by a strong majority of Illinois Democrats (I'd certainly understand why). What your analysis misses is salience: people care about lots of things they don't vote about. Poll primary voters here; you will find a small group of them that think Israel is the most important issue in the district (they will be almost uniformly white PMC voters and they'll be disproportionately online). Mostly you're going to find voters that (a) hate Trump and (b) are concerned about the economy.
It's clearly not the case that "anti-genocide candidates" enjoy a 90% share of the Illinois Democratic primary electorate, because they didn't win.
jmyeet 2 hours ago
Did you miss the part where I said that the AIPAC and AIPAC-affiliated PAC spending never mentions Israel?