10 ms·
Ask HN: Why would you spend your own fortune to get a political office in USA??
"the disastrous campaign for governor of California waged by Meg Whitman, the former eBay CEO, spent more than $140 million of her own fortune...."
The above info makes me wonder why do people spend so much to become a mayor/governor? What is the monetary ROI even if you win? and where does it come from? Can't you utilize (donate) this money to some non-profit and get better and bigger social impact ... I can understand if you're spending this kind of money in 3rd world countries where ROI is 100 times over due to corruption and red-tape but what do you get here in USA by becoming a mayor/governor?
- slater 16y agoShe wasn't running for mayor, she was running for governor.
- bakbak 16y agosorry ... what i meant is why would someone spend their own hard earned money for a political office? and if you loose the election then dont you feel guilty that that money could have done some good to society if donated to right organization...?
- logicalmind 16y agoIt's about power. In this case, "power" means political power. Some people are willing trade a percentage of their wealth to acquire power. Note that in earlier times, power was usually acquired by heredity. If you want to read a fascinating book on the different kinds of power and how it has been acquired over time, read the book "Power: A New Social Analysis" by Bertrand Russell.
- bediger 16y agoThe more cynical among us would point out that an election is very nearly an auction, and if the item for auction could bring that big of a price, there must be money in it for the buyer.
- darklighter3 16y agoIt's not about money. It's about power. Think of it as Meg Whitman trying to turn money into political power.
- bakbak 16y agonot to offend - but what does she get in return of the power? like more fame that turns in to more money? i mean does it become an indirect source of more money thru influential contacts (thru newly attained power) ?... OR is it just plain recognition at the cost of huge money spent on the cause that may or may not give enough ROI (when I say ROI it means money, power, fame etc.) Sorry but coming from 3rd world country I cant digest that smart people like Meg would spend so much money that is 100% risky investment...? or may be I'm wrong here.
- darklighter3 16y agoWhat does she get when she attains political power? She gets to tell people what to do.
- kls 16y agoWhen in power it becomes easier to protect what you already have. The point of the power it to gain and retain higher control over ones destiny. Being in power allows a person to keep laws conducive to their interests.
- Edmond 16y agoSome people are addicted to power and control...California has I believe the 8th largest economy in the world...that's plenty reason to want to be governor at any cost...Note, people like Whitman were essentially molded from their childhoods to pursue more and more success, the more the better...Haven been a successful CEO and earned billions is just not enough, there is always more to accomplish for these types. Harvard/Princeton/Stanford...do you see a pattern here?...
- bakbak 16y agoisn't this kind of power brings more responsibility to deliver, more headache and more stress - i know it gets you more fame and may be eventually you will make big bucks but then there are way too many 'ifs and buts' and to blew that kind of money with no guaranteed return is kind of mind-boggling .... Also I dont think that even Barack Obama spent that much amount of money (from his own pocket) but he's still the most powerful man in the world !!!!!!!!!