This morning, if I said anything that wasn’t about the election, no one would read this. (Although if you want to hear something unrelated but comedic: Today is my birthday.)
And I’m writing this before any of us know the outcome of a contentious election, especially in Silicon Valley. We can get answers by tonight. But if the last few elections are any indication, it’s clearly possible that we won’t.
I turn to history when I don’t know what to say. I’ve always asked my friends, who after enough beer usually say something like: “Allie, please, not another Napoleon invasion of Russia.”
But today, looking back can actually be helpful. You can read about the present anywhere else and everywhere, so now I would like to talk about the past.
Close, chaotic, and disputed elections have been a recurring part of American politics. I’ve always been drawn to that 1948 photo of Harry Truman, grinning, holding up the Chicago Daily Tribune with its front page screaming: “Dewey Defeats Truman.” (Spoiler alert – he didn’t.)
Although there are many examples that are less entertaining. In 1824, Andrew Jackson received the most popular and electoral votes, but did not win a majority. The decision fell into the hands of the House of Representatives, where a series of behind-the-scenes machinations led to the appointment of John Quincy Adams as President and distant runner-up Henry Clay as Secretary of State. Jackson angrily called it a “corrupt bargain,” stepped aside, and returned glowing as a populist candidate in 1828.
The 1876 election was even worse, and there are two names that most Americans today find difficult to recognize: Republican Rutherford Hayes and Democrat Samuel J. Tilden. Hayes ultimately won despite losing the popular vote by more than 250,000 votes, and the result was so deeply divisive that some feared it would lead to another Civil War. But that didn’t happen.
Then there’s what we all remember.
Every election cycle, my husband has a story he likes to tell about his front-row assignment on election night — he had to fill out the 2000 election map between Bush and Gore. (I asked him if he had done it with a crayon, but he couldn’t remember.) As the night went on, he filled some cases with red, others with blue. When it was time for bed, his parents—now my in-laws—told him to call it a night. He protested, “I have to finish my homework or I’ll get in trouble!”
His Silicon Valley doctor parents told him, “Honey, no one’s doing their homework tonight. And somewhere in Florida, there’s someone with a much bigger problem than you.”
I was in Florida, a kid watching my parents glued in front of the TV that night, and then for weeks. We lived in Miami-Dade County, which was on the news, with constant talk about hanging children. But despite all the noise, I don’t remember feeling like we were in trouble. My parents were unsure, yes, upset, yes. But afraid? I didn’t feel like my parents were really afraid of what might happen, or that they thought I should feel that way. A lot has changed since then: January 6 revealed just how quickly things can get out of control.
Like many of you, I believe this is an important election, but I must also believe it is not entirely unprecedented. I personally find solace in the idea of being part of a long series, and I hope it gives some of you comfort as well. And sure, I could be thinking about this the wrong way (my husband thinks so). But what I know today, before the votes are counted, is that close, chaotic, and contested elections have long been part of the American system.
That democracy continues through the peaceful transfer of power.
Go vote and see you tomorrow
Allie Garfinkel
twitter: @agarfinks
Email: alexandra.garfinkle@fortune.com
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Project deals
– jadea London-based AI-powered visual search platform for shoppers, has raised €6 million ($6.5 million) in pre-Series A funding. European Bank for Reconstruction and Development Venture capital and Terra Ventures He led the round and was joined by angel investors.
– additionala remote financial planning platform for first-time homebuyers, has raised $4.1 million in seed funding from Link Ventures, Vista projects, F4Angel investors and others.
Private equity
– Stonepeak I agreed to the takeover Air Transport Services Groupa provider of aircraft, cargo and passenger leasing services based in Wilmington, Ohio, for approximately $3.1 billion in cash.
– Aero Accessories and Repairswhich is a portfolio company ATL Partnersacquired Aviation instruments and avionicsan avionics and instrumentation services company headquartered in Buffalo, New York. Financial terms were not disclosed.
– Comvest Private Equity acquired a majority stake in Ricobin Associates Family Dentistrya dental services organization based in Cary, North Carolina. Financial terms were not disclosed.
– HIG Capital and Thomas Bravo It agreed to acquire the brand and products of the company Computing Technology Industry Associationan IT certification and training company based in Downers Grove, Illinois. Financial terms were not disclosed.
– Littlejohn acquired Sunbelt unitsa Phoenix-based designer and manufacturer of modular solutions. Financial terms were not disclosed.
– Monomoy Capital Partners acquired Oliver Packaging & Equipmenta manufacturer of food packaging systems and bakery equipment headquartered in Walker, Michigan. Financial terms were not disclosed.
– Renofus Capital Partners acquired a majority stake in performancean Atlanta-based provider of managed IT services to mid-sized organizations. Financial terms were not disclosed.
– SK Capital Partners Acquired North America’s Composites and Fuel Containment division Parker Hannifin Companya motion and control technology company headquartered in Cleveland, Ohio. Financial terms were not disclosed.
Exits
– Ametek acquired Vertech Vision Internationalan AI-powered laser display and inspection solutions provider based in Waterloo, Canada, from American industrial partners. Financial terms were not disclosed.
– Domtar company Acquired North American paper receipt solutions company Aconexa label manufacturing company based in Atlanta, from Atlas Holding.
– Al Rayyan Specialist acquired Inovskan investment and insurance company headquartered in London, from Abri Partners and BHMS Investments. Financial terms were not disclosed.
– 1440 foodssupported 4×4 capital and Bain Capital Private Equityacquired Fitcruncha protein bar company based in Bohemia, New York, from Robert Irvine, Union Capital AssociatesAnd its founders. Financial terms were not disclosed.
last
– apple It agreed to invest $1.1 billion Global Stara satellite services company based in Covington, Los Angeles. apple It also agreed to acquire a 20% stake in the company for $400 million.
– Keoni Scientific Company acquired No aira Minneapolis-based laboratory and pharmacy equipment manufacturer, for $55 million.
– Lincoln International acquired TCG Corporate Financea technology and digital economy consultancy based in Munich. Financial terms were not disclosed.
– Mercer acquired Cardanoa London-based investment advisory and management firm. Financial terms were not disclosed.
Money + money money
– Shamrock Capitala Los Angeles-based investment firm, has raised approximately $1.3 billion for its sixth fund and approximately $320 million for its first fund that focuses on acquisitions and follow-on investments in middle market companies in the media, entertainment and telecommunications sectors.
the people
– Arsenal Capital PartnersA New York City-based private equity firm added Joshua Schultz As an operating partner. Previously it was in Setel.
– Silversmith Capital PartnersThe Boston-based growth equity firm added Chris Hecht As an operating partner. Previously it was in Data bricks.
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