A little fact that has seemed to gone totally unremarked on is that of billionaire Tom Steyer’s spectacular loss in Saturday’s Nevada Caucus. Despite spending significantly more time campaigning in the state - 27 days vs Sanders’ 20 days, and paying $13.55 million for TV ads, compared to Sanders’ $1.54 million, Sanders won with 46.8% of the vote, and Steyer ended up with only 4.7%.
So, whatever happened to all those studies showing whoever spends the most money almost always wins?
FiveThirtyEight’s Maggie Koerth provides some very useful insight into that…