Hacks And Ca$h: Silicon Valley Outspent Hollywood in Washington
There is a widespread perception that Hollywood's media industries have friends in high places because they have spent money buying influence compared with the poor tech industry. But Reuters reports that the tech industry has outspent the entertainment industries.
By Sarah McBride and Lisa Richwine
The technology industry has ramped up its political activities dramatically in recent years, and in fact, has spent more than the entertainment industry -- $1.2 billion between 1998 and 2011, compared with $906.4 million spent by entertainment companies.
The entertainment industries, however, seem better at knowing where to buy friends.
Through the end of September, Hollywood had outspent the tech industry 2-to-1 in donations to key supporters of measures it was backing. More than $950,000 from the TV, music and movie industries has gone to original sponsors of the House and Senate bills in the 2012 election cycle, compared with about $400,000 from computer and Internet companies, according to the Center for Responsive Politics.
Spending money is not enough, you have to cultivate your friends. You'd think that the tech industry would understand that it's not the number of friends that counts, but the number of friends that can be counted upon.