As of this morning, Michael Bloomberg has dropped out of the race for the presidency. In total, he spent approximately $500 million dollars, and won just one primary contest, taking first place in American Samoa with 175 votes. That’s not a typo. American Samoa has about 55,000 residents, and their Democratic primary caucus had just 351 participants. Even in victory, Bloomberg didn’t manage to woo a majority of the voters.

Over at The American Prospect, David Dayen argues that this utter flop is a good thing for American democracy.