Truth Social is in its death spiral

Just another failure in Trump's wake of unpaid bills, fraud, and incompetence. Love to see it.

https://www.businessinsider.com/investors-pull-140-million-from-merger-with-trumps-truth-social-2022-9

Just a few days ago

https://markets.businessinsider.com/news/stocks/digital-world-stock-price-truth-social-threatens-sec-lawsuit-spac-2022-9

Go woke go broke.

I don't know anyone in real life or on my Facebook/Twitter/Insta/Snap feed who uses Truth Social.

You mean to tell me Truth Social is failing just like:

Trump airlines

Trump beverages

Trump casinos

Trump steaks

Trump magazine

Trump mortgage

Trump university

Trump vodka

and his entire presidency???

Say it ain't so!

Nah you guys got it all wrong, he is just classifying it. He can declassify and classify anything he wants. Just by thinking about it.

So when it goes down, it's just because he classified it.

I mean, I understand business is by its nature tenuous…..but bankrupting a casino?? A place that is literally designed by the ground up to scam people out of money, and makes no illusion of its intent?

You‘d have to try to fail at such an endeavor.

@girlusocrazy: you understand perfectly.

And by understanding it, killed the thread

*Tumbleweed*

The billion was merely a stated commitment, that funding is not secured. And with the merger in legal question and being halted by the SEC while they investigate, they may not be able to complete the merger at all - which is the major point.

Stock prices have dropped so much that DWA (the investment group) cannot secure a 65% shareholder vote.

In other words, all of the information and events together reveal that the deal is shady to begin with, and all of the numbers they threw out were smoke and mirrors. The only numbers that actually matter are the hard figures listed - like stock devaluation and known secured funding that is now withdrawn, etc.

Then remember they're being sued by their infrastructure vendor for not paying their bills (over $1.6m at last count), and they couldn't even get their copyright for the name Truth Social.

Basically, if anyone reads the articles in their entirety and walks away thinking "well geez, that ain't bad", then they're looking for a reason to disagree. There's literally nothing going good for the company / service. They haven't even been able to pay their monthly bills, less than $2m. That clearly is not a healthy company with sufficient funding and investment.

More amazing news in the world of Truth Social. Trump asked an executive to simply turn over his shares to Melania that were part of his compensation. He told them no, that is was be taxable, and was met with a response of 'do anything then'.

https://www.businessinsider.com/trump-media-co-founder-trump-pushed-exec-shares-to-melania-2022-10

"Will Wilkerson, who filed a whistleblower complaint about the company to the SEC in August, made the allegation in a story published by the outlet on Saturday. The Post, which obtained materials submitted with Wilkerson's complaint, detailed accusations of infighting and potentially illegal activity at the company.

Trump had been given a 90% stake in the company when it was founded, according to the SEC complaint. But Wilkerson told the Post he was with fellow co-founder Andy Litinsky in October 2021 when the latter received a call from Trump. At the time, the company had recently reached a merger deal that would catapult the value of its stock. Wilkerson said the former president asked Litinsky to give some of his shares to Melania Trump.

Wilkerson told the Post that Litinsky demurred and explained the gift would result in a tax bill he would be unable to pay: "Trump didn't care. He said, 'Do whatever you need to do.'""

What a failure. If it wasn't for his daddy's 400million+ this guy would be nothing.

Good. It needs to die. Trump needs to humble himself and go back to Twitter in the Musk era. We need Trump there!

I mean why would he care at this point considering he's most likely going to end up getting his Twitter account back? While it currently hasn't been confirmed I'd be willing to bet money that that's exactly whats going to happen. Considering his follower count on Twitter was larger then the entire user base of Truth and his goal appears to be reach and communication, especially ahead of 2024 -- its sort of a win for him in a way. Which barring legal action is highly likely to happen, regardless of how anyone feels about it.

To be clear, I don't have a side. The "R" and "D" are meaningless at this point and have been for decades. We're ruled by a uniparty that purposefully stokes division for the survival of itself and at the cost of its citizenry, while it ceremoniously pretends to pass power back and forth every 4 years. Knowing they, Wallstreet, etc have long since picked the winner.

You could vote for anyone and you'd still get more of the same. Which is why centering your entire existence around one side or the other is a giant waste of life. Which also seems to morph people into adults with the emotional capacity of a 5 year old. However, the meltdowns IRL and on social media are pretty amusing for the rest of us. In this era,you don't have to be objectively correct, just be super duper passionate.