{"id":1968737,"date":"2023-07-10T15:45:02","date_gmt":"2023-07-10T19:45:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/vivek-ramaswamy-to-let-fundraisers-keep-10-percent-of-money-they-raise\/"},"modified":"2023-07-10T15:46:12","modified_gmt":"2023-07-10T19:46:12","slug":"vivek-ramaswamy-to-let-fundraisers-keep-10-percent-of-money-they-raise","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/vivek-ramaswamy-to-let-fundraisers-keep-10-percent-of-money-they-raise\/","title":{"rendered":"Vivek Ramaswamy allows fundraisers to retain 10% of raised funds."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fvivek-ramaswamy-to-let-fundraisers-keep-10-percent-of-money-they-raise%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1968737&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0710\/b7f31bf0-e463-4782-9e02-4f4b80cd5415\/audio.mp3?length=4499181&#038;duration=375\"><\/div>\n<\/p>\n<p>Presidential hopeful Vivek Ramaswamy told The Epoch Times in late June that his campaign was \u201cdecentralizing the process of getting people to support us.\u201d<\/p>\n<p>\u201cWhat does that mean? Actually <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/in-depth-why-vivek-ramaswamy-needs-new-hampshire\/\" title=\"Vivek Ramaswamy's New Hampshire Necessity\">make volunteers accountable<\/a> for bringing more people into the movement,\u201d said the biotech entrepreneur and anti-ESG investor.<\/p>\n<p>A July 10 announcement from his campaign makes it clear that Ramaswamian accountability is about both carrots and sticks\u2013and alerting voters to the small world of rich and powerful bundlers.<\/p>\n<p>In videos posted to Twitter and other social media, Mr. Ramaswamy debuted \u201cVivek\u2019s Kitchen Cabinet,\u201d a program that will let people who fundraise for his campaign take a flat 10 percent commission.<\/p>\n<p>\u201cThere\u2019s a tiny group\u2013it\u2019s an oligopoly\u2013of people who raise money, bundling and otherwise, who get to keep a large percentage, sometimes up to 10 percent, of what they actually raise,\u201d Mr. Ramaswamy said in <a href=\"https:\/\/twitter.com\/VivekGRamaswamy\/status\/1678377504350806017\">one<\/a> of the videos.<\/p>\n<p>Bundling is common across both political parties.<\/p>\n<p>In 2016, Hillary Clinton\u2019s ultra-wealthy bundlers included investor Tom Steyer, media mogul Fred Eychaner, and businessman George Soros.<\/p>\n<figure id=\"attachment_2801929\" style=\"width: 600px\" class=\"wp-caption aligncenter\">\n    <a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2019\/02\/15\/george-soros-1200x800.jpg\"><figcaption class=\"wp-caption-text\"><noscript><\/noscript><\/figcaption><\/a><br \/>\n    George Soros, Founder and Chairman of the Open Society Foundations arrives for a meeting in Brussels on April 27, 2017. (Olivier Hoslet\/AFP\/Getty Images)<br \/>\n  <\/figure>\n<p>The Washington Examiner <a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/ron-desantis-assembles-bundlers-white-house-announcement\">reported<\/a> in May on Florida Gov. Ron DeSantis\u2019s own 2024 bundlers.<\/p>\n<p>According to the Ramaswamy campaign, \u201cVivek\u2019s Kitchen Cabinet\u201d participants will get a unique link they can use for fundraising.<\/p>\n<p>In addition to receiving a 10 percent commission from every donation they raise, they may be eligible for other incentives for high performers, including \u201ca personalized donation page, exclusive campaign swag, a personal call with Vivek, and invites to special events.\u201d<\/p>\n<h2>\u2018How Is This a Pyramid Scheme?\u2019<\/h2>\n<p>Some accused the candidate of running some sort of scam.<\/p>\n<p>\u201cVivek turning his campaign into a pyramid scheme,\u201d journalist Jordan Schachtel wrote on <a href=\"https:\/\/twitter.com\/JordanSchachtel\/status\/1678388171078348800\">Twitter<\/a>.<\/p>\n<p>\u201cI would pose to them, \u2018How is this a pyramid scheme when it\u2019s just a flat commission?&#8217;\u201d said Ramaswamy Senior Adviser Tricia McLaughlin in a July 10 interview with The Epoch Times.<\/p>\n<p>Ms. McLaughlin stressed that those who join \u201cVivek\u2019s Kitchen Cabinet\u201d won\u2019t face any downside risk. She questioned whether the people talking about pyramid schemes know what a pyramid scheme actually is.<\/p>\n<p>Mr. Schachtel told The Epoch Times he sticks by that comparison.<\/p>\n<p>\u201cIt is by-the-book pyramid selling,\u201d he told The Epoch Times in a July 10 message. \u201cA political campaign should not be a money-making scheme or a party to one.\u201d<\/p>\n<p>Ms. McLaughlin said Mr. Ramaswamy\u2019s novel fundraising idea was inspired by his experience at the helm of Roivant Sciences.<\/p>\n<p>\u201cA lot of the scientists in pharmaceuticals are not incentivized. They\u2019re not making the big money from these therapies,\u201d she said.<\/p>\n<p>Mr. Ramaswamy, who has positioned himself as a critic of affirmative action and an advocate of merit, has met with criticism because of Roivant\u2019s apparent embrace of diversity, equity, and inclusion (DEI) and related values that many conservatives have dubbed \u201cwoke.\u201d<\/p>\n<p>Roivant Social Ventures, which started in 2020 while the presidential hopeful still led Roivant as CEO, <a href=\"https:\/\/roivantsv.org\/\">describes<\/a> itself as \u201ccommitted to the goal of health equity.\u201d<\/p>\n<p>In addition, Mr. Ramaswamy\u2019s <a href=\"https:\/\/www.documentcloud.org\/documents\/23868805-vivek-ramaswamy-disclosure-report-7-6-23\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elizabeth-warren-abandons-mckinsey-disclosure-demands\/\" title=\"Elizabeth Warren Abandons McKinsey Disclosure Demands\">financial disclosure form<\/a><\/a> with the Office of Government Ethics reveals his past and present investments in companies known for their strong commitment to ESG and DEI, including Microsoft.<\/p>\n<p>\u201cThe first time Vivek learned of these positions was when he saw this <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-asia-czars-holdings-may-present-conflict-of-interest\/\" title=\"Biden Asia Czar\u2019s Holdings May Present Conflict of Interest\">financial disclosure report<\/a>. Vivek\u2019s stock portfolio is independently managed by a third party. The filer has authority to make trades and invest in stocks without his expressed consent or knowledge,\u201d Ms. McLaughlin told The Epoch Times.<\/p>\n<p>According to Ms. McLaughlin, her candidate believes pharma and politics have both suffered from an excess of middlemen.<\/p>\n<p>\u201cVivek learned how much people are making off of this political process,\u201d Ms. McLaughlin said.<\/p>\n<p>The proposal dominated the early Monday news cycle for a reason: it seems to be a genuinely unique proposal, at least in American presidential politics.<\/p>\n<p>The Republican Party has faced criticism for what some see as sluggishness and a lack of creativity as <a href=\"https:\/\/www.theepochtimes.com\/activists-say-ballot-harvesting-once-shunned-by-gop-now-key-to-winning-in-2024-post_5347898.html\">the norms for U.S. elections have changed under their feet<\/a>.<\/p>\n<p>\u201cIt\u2019s my contention that, currently, Joe Biden is cruising to reelection if we don\u2019t have the infrastructure necessary, with things such as voter registration, early voting, [and<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/vivek-ramaswamy-to-let-fundraisers-keep-10-percent-of-money-they-raise\/\" title=\"Vivek Ramaswamy allows fundraisers to retain 10% of raised funds.\">] legal ballot harvesting<\/a>,\u201d Millennial Republican activist Scott Presler told The Epoch Times in June.<\/p>\n<figure id=\"attachment_3032596\" style=\"width: 600px\" class=\"wp-caption aligncenter\">\n    <a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2019\/08\/07\/EBQS3t7W4AAfBT9-1200x1151.jpg\"><figcaption class=\"wp-caption-text\"><noscript><\/noscript><\/figcaption><\/a><br \/>\n    Conservative activist Scott Presler after street cleanup event in Baltimore, Md., on Aug. 5, 2019. (Courtesy of Scott Presler)<br \/>\n  <\/figure>\n<p>Ms. McLaughlin suggested that a GOP that often seems starved for ideas could stand to gain from Mr. Ramaswamy\u2019s vision.<\/p>\n<p>\u201cThe Republican Party for a long time has talked about <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>clear that Ramaswamy&#8217;s strategy involves holding volunteers responsible for expanding his support base. By decentralizing the process, he aims to make volunteers accountable for bringing more people into his movement. This approach reflects his commitment to actively involve supporters in his presidential campaign.<\/p>\n","protected":false},"author":152,"featured_media":1968738,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-1968737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1968737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/152"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1968737"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1968737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1968738"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1968737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1968737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1968737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}