Yang is out!
Presidential candidate Andrew Yang has tossed in the towel. The tech entrepreneur built his candidate around universal basic income, and that has universally gone down the drain.
"We have touched and improved millions of lives and moved this country we love so much in the right direction. And while there is great work left to be done, you know, I am the math guy, and it is clear tonight from the numbers that we are not going to win this race," Yang announced on Tuesday evening.
"I am not someone who wants to accept donations and support in a race that we will not win. And so tonight I am announcing I am suspending my campaign for president," he added.
The son of immigrants, Yang founded Venture for America, a nonprofit fellowship program that places recent graduates with startups. Before that, he was the CEO of an education company later bought by Kaplan. That sale made him a millionaire.
As a candidate, Yang drilled down on the dangers of automation to the U.S. economy, making appeals to workers who have lost jobs or felt left behind amid the rise of new technologies. Central to his policy platform, Yang pitched a universal basic income for all adults — a $1,000-a-month stipend he called the "freedom dividend" — as a key solution for many of the country's most pressing problems.
"This campaign is about taking hold of our government that has now just been completely overrun by the corporate money and return it to us — and then rewrite the rules of the 21st-century economy to work for you, to work for your families, to work for communities," he continued.
"It's both an honor and disappointment to be the lone candidate of color on the stage tonight. The question is, why am I the lone candidate of color on this stage? Fewer than 5% of Americans donate to political campaigns," he concluded, "You know what you need to donate to political campaigns? Disposable income."
By the looks of Twitter, his supporters are quite upset. Even former presidential candidate Marianne Williamson wrote, "@AndrewYang brought more than good ideas to the race; he brought soulfulness. His conversation about technology, humanity and a more enlightened capitalism will not stop here. Good ideas outlast campaigns. In our politics, and in my heart, he is here to stay."
.@AndrewYang brought more than good ideas to the race; he brought soulfulness. His conversation about technology, humanity and a more enlightened capitalism will not stop here. Good ideas outlast campaigns. In our politics, and in my heart, he is here to stay.
— Marianne Williamson (@marwilliamson) February 12, 2020
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