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jamie said:
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The Trump University of social media.
SPACs were tailor made for the Grifter-in-Chief
SPAC, or special purpose acquisition company, is another name for a "blank check company," meaning an entity with no commercial operations that completes an initial public offering (IPO). After becoming a public company, the SPAC then merges with (or acquires, but usually merges with) an existing private company, thereby taking it public. Prior to completing a merger or acquisition, many SPACs provide no indication to investors about what type of company they plan to merge with or buy.
A company with nothing but a name and one open-source driven wonky web site that got hacked on day one..
Now I'm no finance whiz - far from it - but with TFG's track record, how does he attract so much financing?
drummerboy said:
SPACs were tailor made for the Grifter-in-Chief
SPAC, or special purpose acquisition company, is another name for a "blank check company," meaning an entity with no commercial operations that completes an initial public offering (IPO). After becoming a public company, the SPAC then merges with (or acquires, but usually merges with) an existing private company, thereby taking it public. Prior to completing a merger or acquisition, many SPACs provide no indication to investors about what type of company they plan to merge with or buy.
A company with nothing but a name and one open-source driven wonky web site that got hacked on day one..
Now I'm no finance whiz - far from it - but with TFG's track record, how does he attract so much financing?
The people fronting the money for this latest Trumpery aren't counting on revenues from the operation. They're counting on the additional investment and increase in stock value, and maybe some hefty operating agreements or bonuses.
They've concluded that buckets of money are available from MAGAs, and all they need to do is get their share before the thing closes down.
It's the business model of "The Producers".
It's a laundromat. Money goes in, money goes out, and the final product is sweet sweet MAGADATA.
Apparently they're already breaking the license agreement for the Mastodon software.
How long before Apple removes the Truthsocial app from its store for violating its terms? I give it 2 days (if it ever emerges from beta at all... kind of like Trump's ongoing audit.)
Jesus H. Christ, how does this guy manage to glom onto other people’s money so readily! No wonder his “business” life has lasted so long, despite no business skills apart from being the proverbial “ vampire squid”* sucking on the monied class.
Haven’t been here in a while but was prompted by a leaf blower article, which was the topic of my first post on MOL. I lived across the street from a landscape contractor (Pierson Rd.) whose workers kept his joint leaf-free.
*Not sure who said this first; Matt Iglesias? (sp)
Rep. Marjorie Taylor Greene has invested up to $50,000 in the SPAC stock linked to former President Donald Trump’s planned social media platform.
According to a public disclosure, the Georgia Republican purchased a stake in Digital World Acquisition Corp., or DWAC, on Friday. The stake is worth at least $15,000 but no more than $50,000
....
But based on DWAC’s price fluctuations and when Greene said she made her investment, on Friday, it’s almost certain she has lost money on the trade.
On Friday, DWAC opened at $118.80 a share and dipped as low as $67.96 a share. It’s now trading around $63 a share. That means, at best, Greene has lost about 7% on her investment.
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T***** Social media attempt is almost ready - here's the Terms and conditions:
Terms of Service | Truth Social
Will T**** abide by this rule:
As a user of the Site, you agree not to:
7 - trick, defraud, or mislead us and other users,