Welp, Orange Man Bad has announced his run for 2024
(beckernews.com)
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I honestly think he announced early because he calculated that announcing would make it less likely that the FBI would try to indict him.
Announcing early is a display of weakness, especially for the guy who used to be the frontrunner until a few days ago.
Announcing late is weakness. You announce late because you want an out if you can't build or sustain support.
Candidates do it late because they can raise money without being covered by election fundraising, and needing to pretend they're not running shows their financial weakness.