| Long before he was my colleague and partner at Puck, I admired Teddy Schleifer’s reporting for, among other things, the essential premise of his work: During the past 15 or so years, the area around San Francisco has created more wealth than any locus in human history; and as those wealthy innovators aged, their interests pivoted from technology to policy. Washington remains the world’s biggest small town, where everyone knows everyone, but starting in the aughts, things began to fundamentally change.
Operatives and candidates began making regular pilgrimages westward to meet with the real political power players in the Bay Area, the ones writing the checks that made it all possible. Teddy, who perceived this transformation during the formative years of his career, has made it his mission to document the evolution, for better or worse, of how the idea machine of NorCal is slowly but steadily wrapping its arms around Washington, particularly on the left.
Indeed, his may be among the most fascinating beats at Puck. Back in the day, it seemed quixotic when the Ron Conways, Reid Hoffmans, and Marc Benioffs of the world believed that they could influence national policy with their checkbooks and influential networks. Now they are as powerful as our elected leaders, if not more so.
These days, philanthropists like Laurene Powell Jobs are Mount Rushmore figures in Democratic politics. Sam Bankman-Fried, the crypto zillionaire, is only 30 years old and already pouring his fortune into his brand of effective altruism. Dustin Moskovitz may be familiar to most casual political observers as the odd man out at Facebook. One day, he may be remembered as the most significant Democratic donor of his generation. Peter Thiel, the former venture capitalist who first saw the initial promise of Facebook, is already his party’s preferred merchant bank.
So I was really curious, last week, when Teddy mentioned that he’d been hearing rumblings of a significant sea change on the left: Future Forward, a new Silicon Valley-powered PAC, was the lead horse to receive Biden’s blessing as the outside money vehicle for the 2024 election cycle—a prestigious, money-minting, power-rearranging boon that will help determine the party’s messaging and strategy for the next election and beyond. Future Forward emerged before the 2020 cycle and spent a quarter of a billion dollars on liberal candidates and causes. The state of play remains fluid, of course, but Future Forward has the inside track. It’s the latest indication of how Silicon Valley really does pull the strings on Capitol Hill.
If you have a moment, I urge you to read Biden’s Blessing, Teddy’s piece, which he collaborated on with Tara Palmeri. (And if you’re not already on Teddy’s email list, The Stratosphere, I encourage you to sign up here.) It’s an extraordinary piece of journalism, offering an unvarnished look at how our politics really work. It’s the story of our time, and precisely the sort of work you can only find at Puck.
Have a great weekend,
Jon |
