Dan Pfeiffer

This is what the audience is.

This is how many people your dollars are going to reach.

It is just a lot.

These are not, to the extent you have metrics, if you were investing in your ad idea,

It's the extent that you have metrics that are not metrics that are particularly familiar to the people who are paying for television ads.

And then if you're just saying, invest in content creators themselves, right?

Let's give some of them a stipend.

Let's have some sort of funding that helps people get started or lets them level up.

Like that, there is no...

That's a venture bet.

It's not a specific.

It's not a stock.

You're not buying an equity, right?

So people I've talked to have really struggled with that because they became used to this idea that there's this very specific formula that your dollars are going to reach this many voters.

We need this many voters to win.

And now you're asking them to invest in something they don't fully understand in a way in which without the certainty of impact that they've had before.

Because you're not exactly investing.

And this is, I guess, the third reason is tied to it is short-termism.

Every Democratic donor wants to win the next election.

And I understand that.