While I’m as willing as just about everybody to make a buck…
Truth Social, the nascent social media rival to Twitter, being laundered to the public by Grifter in Chief, Donald J. tRump, has missed it’s self imposed November deadline to make available an invitation-only Beta version of the app. As of December 1st, the website remained only a landing page to sign a waiting list.
Let’s look at the record:
- In September of 2021 DWAC, a Special Purpose Acquisition Company (SPAC), raised $ 290 million dollars in an IPO to fund Truth Social.
- According to CNBC, “The media relations officer for the company, Roma Daravi, has not tweeted about TMTG and Truth Social since October. Daravi did not respond to an inquiry from CNBC.”
- On December 1st Reuters reported www.reuters.com/… “Former President Donald Trump's new social media venture is seeking to raise up to $1 billion by selling shares to hedge funds and family offices at several times the valuation it commanded in a deal with a blank-check acquisition firm in October, two people familiar with the matter said.”
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On December 1st Truth Social also admitted that it’s platform, which is still missing in action, is based on Mastodon. Mastodon is an “open source” software. The Company had previously threatened a lawsuit against Truth Social for violation of it’s open-source license.
All does not bode well for Truth Social. The question becomes, principals track record considered, if it was and is designed to succeed. There are 290 million good American Dollars floating loose out there with presumably, since tRump sycophants seem to know no financial bounds, another One Billion (That’s with a “B” folks) on the way.
As is often said, “Follow the money.” In this case I believe it’s headed to Mar-a-Swampo...
Monday, Dec 6, 2021 · 9:41:41 PM +00:00
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Iamguy
Trump’s new media company deal investigated by SEC
Reuters in New York
Mon 6 Dec 2021 14.26 EST
“The Massachusetts senator Elizabeth Warren had asked the SEC to investigate TMTG’s proposed merger with Digital World over potential violations of securities laws, including whether they had sufficiently disclosed when deal talks began.”
Everything he touches...