Washington, D.C., February 9, 2026 — In a recent column published in the Orange County Register and LA Daily News, radio host and columnist John Phillips examined billionaire Tom Steyer’s aggressive spending strategy in the California gubernatorial race, citing analysis from Nestpoint Managing Director John Thomas.
Phillips’ piece, titled “Tom Steyer Is One Golden Gate Bridge Too Far for California,” focuses on Steyer’s escalating campaign expenditures — now exceeding $38 million — and whether sheer financial firepower can substitute for political traction in a crowded statewide contest.
Speaking on Phillips’ KABC radio program, Thomas offered a strategic assessment of Steyer’s approach.
“He believes in a state as large as California, where it’s very difficult to do retail politicking…his advantage will be his levels of spending and being able to get his name ID up and message out. We’ll see how valuable that is.”
Thomas noted that California’s size and media market structure inherently reward high-dollar campaigns, particularly in low-information statewide races where traditional grassroots campaigning is limited in impact.
“I would say having a lot of money in California is powerful in a contest like this. Tom is going to spend two, three hundred million dollars in this race.”
The column situates Steyer’s strategy within the broader political environment in California, where ballot access, name recognition, and advertising saturation often determine viability long before traditional voter engagement does. Phillips also references Steyer’s 2020 presidential campaign, during which he spent hundreds of millions of dollars without securing delegates — raising questions about whether financial scale alone can produce electoral success.
Thomas’ commentary underscores a key political reality: while capital can amplify messaging, it cannot manufacture organic voter enthusiasm or resolve structural vulnerabilities in a candidate’s appeal.
As California’s gubernatorial race continues to develop, the question remains whether unprecedented spending levels can break through an electorate increasingly skeptical of political excess.
The original column by John Phillips appears in the Orange County Register and LA Daily News on February 9, 2026. You can read it here.
About Nestpoint
Nestpoint, with a global footprint and a formidable presence in Washington, D.C., is a leading government affairs, finance, and private equity firm. As a strategic ally, Nestpoint transforms challenges into opportunities through its expertise in policy influence, global networks, and financial innovation, delivering customized solutions for sustained client success. Nestpoint advises multibillion-dollar companies in the manufacturing, energy, and technology sectors as well as foreign nations.
