The New York Times reveals that Biden's debate performance sparked a crisis of confidence among his donors

Democratic Party donors are in a state of deep unease following Joe Biden's performance at the last debate. The concern has spread even among the country's most powerful and wealthy, who are now contemplating strategies to redirect the president's campaign.

According to a report by The New York Times prominent figures in Silicon Valley, such as the Ron Conway and Laurene Powell Jobs, have been in constant communication, describing the situation as a potential crisis. Several political advisers are also frantically discussing rules that could allow Biden to be replaced before the Democratic National Convention, a possibility that, while complex, has intensified debate among strategists.

The impact of the debate has been immediate. Even a major Silicon Valley donor, who had planned a fundraising event with Biden, decided to cancel the meeting after the debate.

Internal debates

In private conversations, donors have considered direct interventions and speculated about who might persuade Biden to withdraw. Some even suggest talking to the first lady, Jill Biden, to convince her husband not to continue his candidacy. However, others still suggest waiting for poll results to gauge the impact of the debate.

"He had a poor performance (...) but a 90-minute debate doesn’t offset 3 ½ years of his presidency, so I will be in there fighting for Biden," opined Robert Wolf, former president of UBS Americas trying to downplay the event.

Lack of communication

Financial concerns are also on the rise, as Trump has outraised Biden in fundraising recently.

While, Biden's campaign reported raising $14 million in online donations in the hours following the debate, the Biden team's lack of communication with major donors has generated criticism, as large donors often require special treatment and their support can be crucial.

To counter the uncertainty generated by the debate, Biden's team has organized a series of fundraising events in key locations such as Manhattan, the Hamptons and Park City. But the debate continues to generate uncertainty at a critical time.