Why is Billionaire Tom Steyer Running for President?

With the Iowa caucuses less than two weeks away, the Democratic primary increasingly seems like a two-way contest between former Vice President Joe Biden and Vermont Senator Bernie Sanders. The latest polls show Biden leading in Iowa and Sanders leading nationally, and calls are getting louder for the lower-tier candidates to drop out and allow support to coalesce around the leaders. Despite failing to poll above 4% nationally, California billionaire and philanthropist Tom Steyer insists he still has a path to the nomination, citing relatively strong recent polls in Nevada and South Carolina. Analysts estimate that Steyer’s campaign has already spent over $100 million on radio, TV, and digital advertising since launching back in July. Mehdi Hasan talks to the candidate about what he’s getting for all that money, and whether it might be better spent on house and Senate races around the country.

Transcript coming soon.