Not only is Hollywood pitted against Silicon Valley in a high stakes game of old vs. new media, but could there also be a new competition for political sway?
Tom Tapp of Hollywood Wiretap writes, “According to figures posted by the Los Angeles Times, Californians donated $502 million to federal candidates and national political parties from 2003-2006. Of the top 50 donors in the state, seven were in entertainment, while eight were from the technology sector.” Keying off a story on Spot-On.com, he writes that what is developing are “twin towers of wealth competing for preeminence and influence.”
After visiting Los Angeles last week, and meeting with fund-raisers at CAA and other places, Hillary Clinton flew up to the Bay Area, where she had a meeting at Google.
The real winners, of course, are the politicians, who now “have two fly-by clusters of ten-digit donors in the state.” What candidates are looking for, are fund-raisers who have the ability to quickly rally their friends and contacts for cash. And as the year goes on, these people will prove ever-more critical, as fund-raising gets more difficult. By fall, many of the best-known donors will have maxed out, and will not by law be allowed to give any more money to a Hillary Clinton or a Barack Obama. So having a wider scope of places from which to draw money can’t hurt.