I think he launched a third party because the Democrats refused to take him seriously. I don't think it was the right move. He was probably four years behind Pete Buttigieg, now I'm not so sure. Yang didn't have any problems with career politicians. He just wanted that career to be their career. His argument was that if you made the job itself pay enough that people wanted to stay in it, and that if the retirement was cushy enough that they were not permitted to lobby at all afterwards (I misspoke - he didn't require them to never work again, he wanted them to never be able to register as a lobbyist), you would get more "pure" politicians and fewer people leveraging the revolving door. I've seen term limits come up for forty years. I've yet to see a legitimate mechanism whereby term limits could be instituted. Shit's obviously broken but even if term limits did fix it, I don't know where we'd buy the glue.