(Congress Report) – Being that President Joe Biden is an incumbent commander-in-chief, everyone knows he’s running for reelection, but what a lot of people may not be aware of is there are others within the Democratic Party attempting to primary him, like Marianne Williamson. Yes, that’s right, ladies and gentlemen. Quite a few individuals on the left are well aware that Biden is unfit for duty and they are vying for his spot. I mean, the man has deteriorated so badly over the course of the last three years it’s impossible to ignore.
Williamson, for those who may not know, is a self-help guru most famous for being the “spiritual adviser” to talk show superstar Oprah Winfrey. She’s well known as an author and motivational speaker as well as making an unsuccessful attempt to run for Congress. This marks the second time she’s tried for the presidency. Say what you will, but the words “give up” don’t seem to be in Williamson’s vocabulary.
However, Dean Phillips is also running for the top office in the country. You probably have no idea who that even is, and I can’t blame you, as I had no idea who he was either until about five minutes ago. Phillips essentially has a big fat zero in the “name recognition” column, despite being a Democratic congressman from Minnesota and a businessman. And well, a presidential candidate. Luckily for him, Bill Ackman, businessman and billionaire venture capitalist, wants to help change all of that.
“Ackman so wants Phillips to be known and to win the nomination and the presidency that he announced Saturday that he’s donating $1 million to a political action committee that supports the three-term congressman,” The Western Journal noted.
“This is by far the largest investment I have ever made in someone running for office,” Ackman went on to say in a post published on X. The billionaire then explained his support for Phillips by telling a little story about a failing business that needed help.
“Recently I found a great leader who is looking to run a huge business that has lost its way, where enormous value can be created, and where huge societal benefit is the resulting outcome, if the business can be turned around,” Ackman stated.
The extremely successful venture capitalist then compared his assessment of Phillips with some of the techniques he employed in his Pershing Square Holdings company and the tools they use to assess other companies.
“I have learned that the key success factor for venture investments is assessing the founder,” Ackman explained. “Over time, you learn to do so after making mistakes and developing and honing the skills to identify the best talent and leadership. …When you find the right leader and you can couple that leader with a great business that has lost its way, that’s when the magic happens, and when massive value can be created.”
My best and favorite investments come from a deep understanding of the importance of asymmetry, that is, by understanding the potential risk and reward, and making sure that the reward overwhelming compensates for the risk. I have made some great asymmetric investments at…
— Bill Ackman (@BillAckman) January 14, 2024
Ackman then revealed he met the congressman two months back and has been in close communication with him ever since. He said that he spent a total of an hour and a half with Phillips last Friday while the congressman delivered an address to the folks working at Perishing Square. It was at that point that Ackman decided to up his initial $3,300 donation to a whopping $1 million.
“I am making this investment at a high-risk, but critically important moment,” Ackman pointed out.
“He praised Phillips’ entrepreneurship, which included developing the Belvedere vodka and Talenti gelato brands in the U.S. Saying he had developed a ‘spidey’ sense for determining effective leaders, Ackman said ‘Dean is a first-class human being and person of character,'” the report divulged.
“He is a super-talented, highly-intelligent, and charismatic leader. And he is not just a business man,” the billionaire declared, pointing out that Phillips is ranked 13th in the Lugar Center’s ranking of bipartisanship among folks in Congress.
“One of the inspirations for my increased support for Dean is how well he resonated with the Republicans and more right-leaning members of our company, in addition to the centrists and Democrats in the room when he visited us,” he remarked.
Well, we certainly get the idea that Ackman is all-in when it comes to Phillips, but why him over the incumbent?
“The problem is that the incumbent CEO has a large base of support and a huge incumbency advantage because the CEO we want to hire is not known to nearly all of the shareholders,” Ackman proclaimed.
“The current CEO is well past his prime,” he added, “and if he were available in the market for other opportunities, he would have no chance of getting any job, let alone be hired to run a business of this scale and quality.”
Well, you know, he’s got a good point. Biden is definitely long past his expiration date when it comes to politics. It’s time for him to retire from public life and get some treatment for his obvious dementia. I don’t think Phillips is the guy who should be his replacement, obviously, but we definitely need someone who has fully functioning brain cells calling the shots.
Copyright 2024. CongressReport.com
DROP DEAD, biden.