Money in and of itself doesn't make you dangerous, contrary to popular belief.
Jeb Bush was very well funded in the early 2016 primaries and flopped like a dead fish. Hillary outspent Trump and still lost the electoral college. Tom Steyer has been spending gobs of money this year on ads and is an asterisk in the polls.
You have to have something else, something that matches the electorate's mood. Wealthy businessmen are not the Democratic voter's favorite flavor right now. Maybe he sees something, but I suspect he will go nowhere fast.
Tom Steyer is a wealthy man with no political experience, no name recognition, and no political organization for self promotion who is competing for the nomination according to the fund raising and popularity rules set up by the DNC. IOW, he has accepted the grinding and winnowing process the party believes will lead to a candidate who can beat Trump.
Bloomberg is a very wealthy man who has all the things that Steyer lacked and obviously believes that exempts him from the grind. His “campaign” will be conducted at a pace and in a style appropriate for a person of his wealth, status, and health/age. With respect to his ad campaign, if he thinks having to endure even more months of political advertising on television, print, radio, and in print is going to endear him with voters, well, it’s his time and money to waste.
Another post responding to this thread pointed out he is not going to get the nomination. True. He isn’t and he knows it.
But his presence as the gray eminence/political gravitational center may give an early course correction to the center needed to moderate the increasingly radical rhetoric being mouthed by the group of candidates whom the nominee will come from.
He will do that by his potential to financially aid the eventual nominee and the DNC. In addition, he may also be a way for wealthy big city “Democrats” to donate to DNC campaigns indirectly through contributions to Bloomberg’s political organizations. It would be clumsy and has to be carefully managed to stay legal but it might offer a way for reluctant wealthy Democrats to make contributions without becoming tainted by direct association with some of the more odious socialist confiscatory views being spewed out on a daily basis as real Democratic candidates compete for the very dark woke heart of the party’s primary electorate.
His and Steyer’s money and participation also will “earn” them a speaking appearance at the 2020 DNC Convention as another opportunity for Democratic and Democrat-leading voters to be entertained by seeing two wealthy men bash another wealthy man for their amusement.
Wonder who's milk he's crying in...