woodguru

I had read earlier reports on how this was set up as a SPAC (Special Purpose Acquisition Company). This article explains what they are better than I can, but they are set up to create funding for an idea, not a legitimate business that is actually doing anything. This is like...no wait, it is selling the grift that you would like to do some grandiose pie in the sky thing, like create a social media site bigger and better than facebook, twitter, google. This is exactly how trump billed this thing to his adoring fans, who then poured a rather massive amount of money at what I'm sure they believed was going to make them fortunes, be bigger than apple, amazon, google...

This article, in spite of the source, does an excellent job of explaining how the mechanics of these investments work. And if you think I'm full of crap or lying, take a look at how well truth social is doing, and put another thousand into the stock if you really feel sure of yourself.

https://www.dailykos.com/stories/2022/4/4/2090055/-Late-Stage-Capitalism-Trump-has-already-pocketed-the-Truth-Social-money?pm_source=story_sidebar&pm_medium=web&pm_campaign=recommended

elledee

Amazing how truth generates capital

woodguru

Are you paying attention to what is going on with truth social?

The idea of truth was certainly attractive huh? What isn't is the idea that this was never set up to go anywhere, it didn't need to for trump to be able to walk away with hundreds of millions of dollars.

His grift is good...his people are the stupidest people on earth if they fell for this and invested donated a dime to what was being called bogus from the start.

Everything indicated this as an epic fail...
...the investment structure filing
...the seed investors
...the ownership structure
...Devin Nunes being tapped to head this thing up (now there was a joke and a tip)
...false starts
...key technical players quitting

Strycker Loc: The middle of somewhere else.

This content was created by a Daily Kos Community member. In other words it's a post made up by a poster much like yourself and relatively meaningless.

Peewee Loc: San Antonio, TX

You sure know a lot of things that just aren't true. Uh, that's called lying. You're just a little ball of hate for Trump all the time. Biden's the dipstick, you're just trying to control the narrative again. That doesn't work anymore. Patriots control the narrative now, and we're never giving it back to you or the MSM. I finally figure out whose side Musk is on, he's with Trump, and he just took over Twitter. Dorsey has even made a few comments. Elon is for free speech. Trump will soon be tweeting again. Just in time for the mid-terms and Musk won't ban him. Truth Social is a gift to the patriots who got censored because you guys could never win a fair election. Your pedophile big tech buddies had to help you. Did you know we have a video of your guys stuffing the drop boxes for Stacy Abraham in GA? Yep, we have it all. And that means Durham has it too. Your party has been told to vacate Washington and they've left. They won't be returning either. The swamp has now been drained. This month you're in for a lot of bad news Woody. Buckle up. Get a helmet too, since your are a crash-test dummy. I hope no one in D.C. owed you money. Chances are you'll never get it back.

woodguru

It doesn't matter who relays facts, what matters is did they accurately represent it. If you read it you wouldn't be able to refute it.

woodguru

I guess you missed the part where Musk said he was not going to interfere with trump's ban? Of course you did.

The only narrative your alt patriots control is rhetoric and bullchit, support for Russia and Putin

Milosia2 Loc: Cleveland Ohio

Yeah, really.
Especially from that Source !

Milosia2 Loc: Cleveland Ohio

Severe and Profound.

Milosia2 Loc: Cleveland Ohio

What !
It was only Another Con Game ???
Can we indict him yet ?
Anyone living in fear of trump is not free.

Strycker Loc: The middle of somewhere else.

Of course it matters who relays the "facts" when a small number of "facts" are surrounded by a massive amount of assumptions, speculation and manufactured conclusions. "Every good lie contains a kernel of truth".

The anonymous author starts with a statement that 99% of people disagree with his conclusions and that 99% are wrong. Perfect example of a liberal perspective. If you disagree with him/her you are automatically wrong.

woodguru

On the matter of Truth Social, there are only a few facts that matter in terms of sorting out what the entity is and how it's structured.

Who funded the "seed" capital"
How long was this in the works as a functioning thing that people could use?
What are the pertinent facts concerning regulations of this type of publicly traded company?
Who manages it and perhaps how qualified are they?
Who is the technical expertise, and how qualified are they?
Is it hitting deadlines?
How well is it working?
Is there a trump presence?

Come on these are all easy to answer questions, matters of public record...and just because all of the answers are negative has nothing to do with deep state or trump haters...it's more like trump lovers can't stand anything negative.

RascalRiley Loc: Somewhere south of Detroit

Trump lovers can not stand any more negative. They are numb to it and block it out.

The quick money scam was speculated about when the stock went on sale and skyrocketed.

Who bought stock? Trump supporters. Who burns?

Strycker Loc: The middle of somewhere else.

Feel free to answer all those questions yourself though none are relevant to the link you posted nor do they justify drawing false conclusions, as you are apt to do.

Truth Social may in all likely hood fail. As do most ventures. Certainly it has had a very bad roll out. The fate of the remaining funds that have not been spent is as yet unknown. The presumption is that Trump will use it for other media ventures. Though time will tell. In the meantime the money is in escrow pending a possible merger with DWAC, a blank check company formed to make investments and acquisitions. What the future holds is unknown. As with any venture the risks are very high. In any case Trump is not free to take the money and run as your title and the article implies.