Final answer:
A serious presidential candidate must have access to large amounts of money to fund their campaign activities, gain media attention, and build public support. Fundraising is critical as initial funds often lead to further donations, and incumbents generally have an advantage because of their existing war chests.
Step-by-step explanation:
A serious candidate for the presidency must have access to large amounts of money. Fundraising is essential for candidates as it allows them to campaign effectively by reaching out to potential voters and organizing various campaign activities. EMILY's List emphasizes the importance of early fundraising, coining the acronym 'Early Money Is Like Yeast' (it makes the dough rise), highlighting how initial funds can generate further donations. Additionally, candidates with substantial campaign accounts, known as war chests, and those who already hold public office, known as incumbents, have a significant advantage due to the viability and financial resources available to them which aids in soliciting donations and securing voter support.
In essence, while other factors such as knowledge, public support, and campaign advisors are crucial, the ability to raise money is often seen as a vital aspect of a strong candidacy due to the competitive nature of election campaigns. The candidates with enough financial resources to sustain their campaign efforts, gain media attention, and build public support are more likely to become the nominee and potentially win the presidency.