Trump Media and Technology Group, which owns Truth Social, says focus is ‘long-term product development’ rather than revenue
Don’t they just host some open source software? What product development? Just another bunch of bullshit.
Yes. Truth Social is an unfederated Mastodon instance. Not kidding.
It’s a propaganda mouthpiece and money laundering all rolled up into one neat package they can declare bankruptcy and wipe their hands clean.
Trump Media and Technology Group, which owns Truth Social, says focus is ‘long-term product development’ rather than revenue
Cope.
You don’t lose $327 million in ONE QUARTER on product development. Who are they fooling with this?
The IRS, apparently.
Imagine spending 327 mill just so some angry old guy can tweet for three months.
I seriously doubt they lost that much money. This is probably more tax fraud from the fraudster in chief.
Daddy Putin save us all
So clearly this is some kind of grift. But how does it work?
Pretty straightforward.
- Build idiot following
- Develop minimum viable product
- Tell idiots if they invest, they’ll help you on your idiotic crusade AND get rich in the process.
- Pocket investments for profit.
- Once you’ve rung everything you can out of your wet blanket supporters, abandon platform.
Also, claiming excessive losses is probably an attempt at tax evasion.
Tricking clowns into buying wildly overpriced securities and money laundering combo.
Data harvesting, direct pipeline to brainwash right wing talking points into voters.
For the three-month period that ended 31 March, the company posted a loss of $327.6m, which it said included $311m in non-cash expenses related to its merger with a company called Digital World, which was essentially a pile of cash looking for a target to merge with.
guardian write your shit better jesus christ. What is digital world, is it a pile of cash? Are they 300000 T-bills in a trench coat?Er, it’s literally the very next paragraph…
It’s an example of a special purpose acquisition company, or Spac, which can give young companies quicker and easier routes to getting their shares trading publicly.
Did you just stop reading?
