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Axios Re:Cap

Midterms And Money

Axios Re:Cap

Axios

Daily News, News

4.5705 Ratings

🗓️ 18 October 2018

⏱️ 11 minutes

🧾️ Download transcript

Summary

As the Midterms are less than 3 weeks away, Dan brings on Axios Executive Editor Mike Allen for a look at the momentum in campaign donations for Democrats. Plus in the "Final Two", Facebook's pre-election charm campaign and the discomfort in tablet based tipping.

Transcript

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0:00.0

Welcome to Axis ProRata, a podcast that takes just 10 minutes to get you smarter on the collision of tech business and politics.

0:07.5

I'm Dan Pramak. On today's show, Facebook's pre-election charm offensive and how a new technology that lets us get out of stores faster is also costing us more money.

0:18.9

But first, the midterms.

0:24.6

We are just two and a half weeks away from going to the ballot box. And while we don't yet know if Democrats will take control of Congress, we do know that they

0:29.1

will have raised the most money ever to try.

0:32.2

The Washington Post reports that Democratic candidates have raised over $1 billion this cycle.

0:37.4

That's about 30% more than the Republicans have raised and $1 billion this cycle. That's about 30% more than

0:38.6

the Republicans have raised and also tops the previous record, set by Republicans in 2012,

0:43.9

by around $100 million. And just for a bit more context, Beto O'Rourke, the Democratic candidate

0:50.8

for Senate in Texas, trying to unseat Ted Cruz, raised $38 million just

0:56.0

last quarter, yet just in three months. And that's more than Jeb Bush raised for his entire

1:01.8

presidential campaign. The big question now, then, is, will it matter? Back in 2012, it certainly did.

1:08.8

That's when Republicans, fueled by the Tea Party, took the gavel back from Nancy Pelosi.

1:13.4

And certainly, every campaign needs money to pay for staff and data and doorknob hangers.

1:18.3

But a big difference between 2012 and today is digital media, and specifically how candidates share their messages and biographies.

1:26.3

Six years ago, even though obviously

1:28.2

everybody was on the internet, television was still considered king. Today, though, a smart

1:33.2

candidate would rather create a viral YouTube clip, with millions of people intentionally

1:37.2

clicking to watch rather than run into a bathroom during commercials of their favorite show.

1:41.5

Now, remember, Donald Trump spent way less than Hillary Clinton

1:44.6

during the presidential campaign. And part of that was all the free media Trump got for being

1:48.5

reliably outrageous. But another part was that dollars can just go a lot farther now than they

...

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