Not many things I can think of would be less desirable to watch than the Grifting Entitled Trumps. Just the thought of that repulses me. But...I didn't watch the Kardashians either. Spoiled rich kids don't interest me.
I wonder if TMTG is building Truth in-house or is white-labeling someone else's platform. I don't know if I believe that the Trump Org has the skills in-house to design, build, and operate a social media platform. He probably won't have a problem marketing it, but running a tech business is completely outside his wheelhouse.
https://www.axios.com/trump-social-network-social-spac-11ae24f9-1774-4b31-946a-e5ab1b5b017e.html Former President Trump last night announced plans to launch a digital media network called "Truth Social," and said it would go public via a SPAC called Digital World Acquisition (Nasdaq: DWAC). What to know: So far, this is a joke. The press release didn't contain even basic information, such as the new company's CEO. In fact, the only execs mentioned are Trump (as chairman) and veteran TV producer Scott St. John as head of a subscription streaming service. There's no PIPE financing disclosed, even though redemptions could eat into Digital World's $293 million in reserves (caveat: the SPAC is soaring in early trading, likely on retail demand from Trump fans). Oh, and there's a mention of the whole thing being worth $1.7 billion, "depending on the performance of the stock price post-business combination" — without any details of what type of stock performance would trigger that "additional earnout," or if it would be Trump himself who benefits. Digital World filed an 8-K this morning with the SEC, but without the customary investor presentation attached. There is a 22-page pitch-deck on the new website for Trump Media Group, although it's much more sizzle than steak. And it looks very familiar to a deck Axios' Kia Kokalitcheva reported on earlier this year (one slide is actually identical). A "pre-order" option for Truth Social is available in the App Store, with a screenshot that basically looks like reskinned Twitter. The press release says the company plans to launch in early 2022, which means the company would seek to go public without a commercialized product. About the SPAC: Digital World was formed earlier this year by Patrick Orlando, who has raised several SPACs but has yet to successfully bought a company. He did have one merger signed, with Giga Energy, but it was later terminated. Its CFO is a member of Brazil's National Congress, and an ally of Jair Bolsonaro. There are no women in its exec ranks or on its board. Spokespeople for Trump and the SPAC declined to comment beyond the press release. The bottom line: This appears to be a shell company buying a shell company.
giving credence to the saying, "there is a sucker born every minute" The stock price of SPAC company Digital World Acquisition Corp. rocketed up more than 90% in trading off a news of a deal to launch former President Donald Trump’s planned social media platform. so did many of the SPACs that launched in 2020, the year of the SPACs until reality sets it. According to the King of SPAC, Chamath Palihapitiya, > 90% of SPAC end up trading at less than $10,
As you know, i've scanned many SPAC investor decks over the last 2 years, this is the first ever I've seen that didn't bother to include the terms of the deal LOL. No idea how many % SPAC shareholders will get diluted by. But the shares could prob still do well with his supporters. https://seekingalpha.com/article/44...uisition-dwac-investor-presentation-slideshow
I'd watch and enable it into a billion dollar brand if it was all about them getting kicked in the crotch by different people. Might not be the reality we deserve, but it'd be the reality we need.
if history (of Trump half-assed online ventures) is any indication of the future 29 days after its launch, Trump's blog was shut down, due to miniscule / non-existent viewership, it is no surprise that On October 20, 2021, Trump Media & Technology Group issued a press release which announced the platform, slated to enter limited beta in November 2021. Hours later, a URL was leaked across various sites which permitted users to sign up and use the platform. Users began trolling on the site, creating parody accounts, and posting humorous and comedic content, including a silhouette of Trump defecating a poster named Mike Pence,
like everything else that the Trust Fund baby had done heretofore, https://news.yahoo.com/trumps-300-m...ttle-known Miami banker named Patrick Orlando, Trump's $300 Million SPAC Deal Skirted Securities Laws Just days after Donald Trump left the White House, two former contestants on his reality show, “The Apprentice,” approached him with a pitch. Wes Moss and Andy Litinsky wanted to create a conservative media giant. Trump was taken with the idea. But he had to figure out how to pay for it. This month, the former president found a way. He agreed to merge his social media venture with what’s known as a special purpose acquisition company, or SPAC. The result is that Trump — largely shut out of the mainstream financial industry because of his history of bankruptcies and loan defaults — secured nearly $300 million in funding for his new business. To get his deal done, Trump ventured into an unregulated and sometimes shadowy corner of Wall Street, working with an unlikely cast of characters: the former “Apprentice” contestants, a small Chinese investment firm and a little-known Miami banker named Patrick Orlando. Orlando had been discussing a deal with Trump since at least March, according to people familiar with the talks and a confidential investor presentation reviewed by The New York Times. That was well before his SPAC, Digital World Acquisition, made its debut on the Nasdaq stock exchange last month. In doing so, Orlando’s SPAC may have skirted securities laws and stock exchange rules, lawyers said.
Thus, this contingency plan Trump's social media company has created a contingency plan if he gets convicted of a felony ROFLMAO
