Fiorina won in a California primary, just not in the general election, which we won’t be winning in the fall either.
Fiorina is a good V.P. for any candidate to help battle Hillary. The “war on women” attacks get blunted, and she can attack Hillary as hard as she wants without being accused of being sexist. She may peel off some voters who are non-political and just wanted “the first women president” but really dislike Hillary personally.
Fiorina’s credentials aren’t the issue.
The issue is that she and Cruz would be calling on the opposition to Clinton to blow itself up.
A lady who lost one important election in California isn’t likely to get Californians to buy that objective.