The cycle of rich guys trying to form third parties has been a constant in this country. Musk’s proposed effort would likely meet the same fate.

DAVID: There are two ways to think about a national third party: as a vehicle to get people elected and as a way to change policy. If Elon Musk’s plan for the America Party is to elect a president or even compete with Democrats and Republicans for control of the House or the Senate, I wish him luck.