The billionaire had an announcement.

His entry into politics hadn’t gone as expected, and he was weary of partisanship. Republicans and Democrats weren’t all that different, he thought. Neither party was serious about the real problems facing the country, most importantly the deficit and debt. He would have to change the system from outside.

From his perch on one of America’s most important platforms, he announced the creation of a new political party that would enact real change. “I can be the grain of sand that irritates the oyster,” the billionaire said, with characteristic aplomb, “and the pearl will be that the American people have faith in their government once again.”

By now you’ve probably guessed that the grain of sand wasn’t Elon Musk, who announced the formation of his America Party in a post on X last weekend. Instead it was Ross Perot, the Dallas businessman and two-time presidential candidate, who in September 1995 went on CNN’s Larry King Live to start the Independence Party, later known as the Reform Party.

The details of Musk’s America Party remain sketchy. It’s not clear, for example, if Musk has filed paperwork with the Federal Election Commission and started petitions for state ballot access. Nor is it clear if the America Party will nominate a candidate for president in 2028, or limit its activity to House and Senate races.

As Musk launches his new enterprise, however, he may want to heed the lessons of the past.