It’s true — every attempt to start a third party in the modern era has ended poorly. Ross Perot poured millions into his Reform Party only to see it peak with his 1992 presidential run before it faded into obscurity by the end of the decade. Centrist No Labels failed to field a nominee in 2024 after months of bluster. Andrew Yang’s Forward Party fails to gain a foothold today because it stands against the two-party system for nothing in particular. 

Also true: No one with $400 billion or Elon Musk’s track record of innovation has ever attempted to start a third party.