After subtracting these massive operational costs—the payments to Mothership, the fees for texting services, the cost of digital ads and list rentals—the final sum delivered to candidates and committees is vanishingly small. My analysis of the network’s FEC disbursements reveals that, at most, $11 million of the $678 million raised from individuals has made its way to candidates, campaigns, or the national party committees. But here’s the number that should end all debate: This represents a fundraising efficiency rate of just 1.6 percent.

Damn I knew it was primarily just a grift but that’s insane.