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First reaction to Bloomberg entering the race (which I reserve the right to revise). His campaigning will:

1) Slow Warren’s momentum

2) Take some of Biden’s support. Not a ton but some.

3) Increase Mayor Pete’s chances of winning Iowa

We’ll see. That’s my first blush reaction
Reasoning for the above:

1) Slowing Warren’s momentum: There are reasonable concerns about the viability of Warren’s platform in competitive states. Bloomberg can criticize some of her policies more effectively than others IMHO.
2) Eroding Biden’s support: Joe B’s base skews older, more moderate and with a penchant for pragmatism over aggressive progressivism. That’s Bloomberg’s lane too.

3) Mayor Pete in Iowa: Anything that steals support for the top three Iowa front runners accrues to Pete’s benefit.
I think Warren and Sanders move the public debate left and Bloomberg shifts it back toward center.

Personally, I’d rather not see it shift back toward center but do suspect 1) Warren has now moved left of electability with her M4A plan; and 2) Bernie would lose badly.
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