I wrote this on the 18th, and just found it still in “Draft” form. So here it is ten days late. I’ll be posting more about this group soon.
The New Progressive Coalition is up and running.
From the article, Venturing into political donations:
Today [Deborah] Rappaport, 47, is launching the New Progressive Coalition, a fundraising initiative to support progressive political groups using venture capital methods. Donors are called “investors.” Political activists are running “start-ups.” The goal is to get the money to the brightest ideas. And, just like eBay and its well-honed feedback system, the members will rate ideas and organizations on the coalition’s Web site. Top rating: five stars.
[. . .] NPC is trying to hook up progressive political groups with donors of small to mid-sized amounts “who aren’t sure where to go,” Rappaport said. Similar efforts have been tried in the valley in the non-profit arena, to link newly rich executives with charities. Often the executives get involved in the operations.
[. . .] Like a good VC shop, NPC plans to give seminars and provide advisers for donors evaluating who is worth funding. It hopes to foster relationships among activists seeking to build efficient organizations around a cause, providing consultants and advisers.
[ . . .] Republicans, who have backed grass-roots groups for years, say Rappaport is an idealist whose progressive notions are out of step with mainstream America.
“Supporting the grass roots is a very romantic notion and sometimes an effective idea,” said Dan Schnur, a Republican consultant who has worked in Silicon Valley. “But every dollar that people spend empowering the progressive Democrats is one more vote for Republicans. They are dragging their party to the left.”