The Democratic party's youth movement is heating up, as 40-year-old Representative Seth Moulton (D-Mass.) announced on Monday that he's running for president.

Moulton has a wide-ranging résumé: Massachusetts representative since 2015, holder of three degrees from Harvard University, two-time Bronze Star recipient over seven years as a Marine, and experience as a one-time entrepreneur. If elected, he would become the youngest-ever president--though he's not the youngest politician in the 2020 field (South Bend, Indiana, mayor and Democratic candidate Pete Buttigieg is 37).

That entrepreneurial experience has landed him in hot water during previous campaigns. Moulton has said that his startup Eastern Healthcare Partners, which he co-founded in 2013 with fellow Harvard Business School graduate Sam Bakri, never generated revenue during his tenure with the company. After less than a year, he left the business to run for Congress.

It was "successful as an early-stage startup," Moulton told The Boston Globein March. "When I left the company, things were in good shape to the best of my knowledge."

The startup, which aimed to address obesity issues in the U.S. and the Middle East, is now defunct--and owed $340,000 to the state of Delaware as recently as last month, according to the Globe. Despite the failure, Moulton has cited his experience with Eastern Healthcare Partners as a strength.

During a 2014 debate, Moulton stated, "I understand what it's like to start a small business. I know what it's like to face that day when you might not make payroll." A direct mail advertisement later that year celebrated Moulton as a "successful entrepreneur," the Globe noted.

All mentions of Eastern Healthcare Partners appear to have been removed from Moulton's website since then.

Published on: Apr 22, 2019