So why aren't third parties concentrating on the other end of Pennsylvania Avenue instead?
The Libertarian Party actually is working on the other end of Pennsylvania Avenue; the Libertarians would be the majority party if all their Congressional candidates were to win. There are more Libertarian office holders than any other minor party, mostly local offices.
One of the reasons for running a candidate for President is visibility. There is the hope that a sufficiently active and attractive Presidential candidate may increase the vote for local candidates with a better chance of winning.
A large enough vote for a Presidential candidate in many states can also relieve that candidate's party of some quite burdensome petitioning requirements to get candidates for state and local offices on the ballot for the next election. (If you're not a Demopublican, many states make it quite difficult to get on the ballot.)
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The Libertarian Party actually is working on the other end of Pennsylvania Avenue; the Libertarians would be the majority party if all their Congressional candidates were to win. There are more Libertarian office holders than any other minor party, mostly local offices.
One of the reasons for running a candidate for President is visibility. There is the hope that a sufficiently active and attractive Presidential candidate may increase the vote for local candidates with a better chance of winning.
A large enough vote for a Presidential candidate in many states can also relieve that candidate's party of some quite burdensome petitioning requirements to get candidates for state and local offices on the ballot for the next election. (If you're not a Demopublican, many states make it quite difficult to get on the ballot.)