I misread the headline as "Trump reportedly tried to tell Truth ..." and had an attack of cognitive dissonance!

How is entity going to be worth billions? I am totally lost as to where that valuation is coming from.

I utterly fail to see the value either. Twitter was stupidly over-priced and far more popular than TS, and that seems to have crashed and burned in finance as well as reputation.

Just how did they get a value such as that?

There are, sadly, millions of people who are willing to give this "rich" asshole money. Money they often can't really afford, and he shouldn't need if he were as wealthy as he claims to be. If of the 70-something million people who voted for him last time, they all gave him an average of like $13, you arrive at a billion dollars if my math is correct.

But, as with anything involving the stock market, the valuation is generally a worthless figure useful only for bragging rights.

I can only assume they are trying to pump up the numbers before the IPO. Trump is quite good at getting other people to invest in his failed businesses and extract millions from them.

The whole point of a SPAC is to end run the IPO process. An already public company, created for the sole purpose of merging with a privately held company, merges with the privately held company and it's then instantly publicly traded. Which is why it's something I say should be outlawed, or at least very tightly regulated. There may be a few edge cases where it's the legitimately best option, but probably 99.9 times out of 100, it's going to be a bunch of grifters looking to scam gullible idiots.

Sounds exactly like something the OHSG would try.

>If of the 70-something million people who voted for him last time, they all gave him an average of like $13, you arrive at a billion dollars if my math is correct.

If he follows the playbook and party membership is mandatory for government jobs. Say 20M employees all paying $30/month and 50% is kicked back to him = $300M/month, $3.6Bn/year

The people who do those "How to become a" series of documentaries on Netflix should do one on how to become a world class grifter. Then, of the 5-6 people they profile for each episode, Trump and Xitler would be the capstones.

Presumably at least Trump isn't planning to invade Russia in winter

Truth Social never really took off as a major social network. Probably largely because its an echo chamber of like-minded people. Like-minded people who got their kicks out of upsetting people who thought differently. That doesn't really work on Truth Social as they're preaching to the converted. I also suspect its quite risky posting too much there as anti-terrorism investigators will be hoovering up every word that gets posted there to foil plans before they get too far.

It has some monetary value, though, as Truth Social is essentially a Direct Marketing goldmine. It's a self-selected dataset of extremists, useful idiots, gullible nutjobs and vulnerable people. Didn't you have to upload your ID at some point to verify identity? That will be on file.

ISTR one had to be invited to join the “Truth” social. Guessing all those invited were rolling in money already. But anyhow, how does an invite-only org go public?

How is entity going to be worth billions? I am totally lost as to where that valuation is coming from.

From Uranus.

No, seriously. It's social media , donchano. It's value is whatever the seller says it is.

...and we all know by now that t'pineapple has a penchant for overvaluing his ass sets [sic]....

Trump's stature, as a consumate LOSER, just keeps growing every day. I'm sure some MAGA will be along soon. To tell us how this is another manifestation of the conspiracy of "The Deep State". Practicing their "Lawfare" against their faithful-husband of a cult-leader.

The Orange Jesus is short of the greenbacks. As he's got to come up with at least $450M in order to be able to file an appeal in the case that he lost late last month, he's getting desperate.

I'm no lover of Musk but for him to tell 'The Donald' to in the words of his wannabe VP, MTG, 'F**K off' is a good move.

Personally, I can't wait for him to be evicted from Trump Towers and for the contents to be auctioned off for 10 cents on the dollar.

“Religion has actually convinced people that there's an invisible man living in the sky who watches everything you do, every minute of every day. And the invisible man has a special list of ten things he does not want you to do. And if you do any of these ten things, he has a special place, full of fire and smoke and burning and torture and anguish, where he will send you to live and suffer and burn and choke and scream and cry forever and ever 'til the end of time!

But He loves you. He loves you, and He needs money! He always needs money! He's all-powerful, all-perfect, all-knowing, and all-wise, somehow just can't handle money!”

-- George Carlin

https://youtu.be/iouZYYzQEjU

I've always like the Bill Hicks version of this. "Eternal hell and damnation awaits anyone who rejects God's infinite love."

"Hey buddy! I'm a Christian and I don't like what you said!"

"Well then, forgive me."

It couldn't have happened to two more worthy individuals.

Even taking into account any raving insanity on the part of Musk (I don’t know the chap so can’t comment), WHY would he (or ANYONE) pay ANYTHING for some Trumped-up nonsense like Truth Social? What exactly would anyone be buying? Apart from ridicule

US Navy nuclear powered super carrier = $37Bn

Replacement for USN Trident nuclear submarines = $100Bn

Owning the guy in charge of them = priceless

Judging by all the downvotes.

There's always at least one sad bastard who's a member of the MAGA and/or Xitler cult.

Hmmm.

"Would you like to buy my failing unprofitable social media site that's inexplicably worth billions?"

"No thanks, I've just bought one"

... to shower him with gold.

> ... to shower him with gold ..

MI6 conspired with the Deepstate to fabricate the Steele dossier. Do we need anymore smoking guns.

[1]Newly Declassified Document Indicates FBI Misled Congress on Reliability of Steele Dossier

[1] https://www.judiciary.senate.gov/press/rep/releases/newly-declassified-document-indicates-fbi-misled-congress-on-reliability-of-steele-dossier

The Steele dossier is perfectly credible and probably misses a lot of additional details. Trump makes no mystery of his affinities with and support for Russia. Only a fraction of Maggots are still in denial.

Care to ever actually put your name to your shitposts you coward?

The SEC, and its various counterparts around the world, really need to outlaw this SPAC garbage. They're designed specifically to get around having to provide a lot of the investor info you'd normally need to give for an IPO. Generally the only people who would be interested in that sort of thing are shady organizations with people who are looking to cash out before they're required to file anything with the SEC and everyone else is left holding the bag.

That said, there's even more drama going on with the Truth Social SPAC. There's now one more lawsuit Trump has to deal with, alleging that he's trying to alter the terms of the deal by giving himself a larger stake in the resulting company and diluting the ownership stake of one of the major financial backers.

https://www.politico.com/news/2024/03/01/legal-hurdles-swell-for-trumps-truth-social-deal-in-11th-hour-00144398

The only reason Trump didn't go back to Twitter when Musk unbanned him was because he wanted to keep using his own site so he could cash in. If Trump quit posting there its value would be zero. The only reason Musk would buy it is to shut it down and force Trump back to Twitter.

Its value is being propped up by the possibility he might be president again, and his rantings on that site become "official US policy" effectively, and important for historians who want to write the history of the decline of the US into an autocracy. If he loses its value plummets to near zero. Even his supporters will tire of him whining about his court cases after a while as they flail around hoping to find a replacement savior for the orange Jesus.

>The only reason Musk would buy it is to shut it down and force Trump back to Twitter.

Or for the gratitude of a future president

And a ban on imported EVs and a $100K/vehicle federal subsidy for American built EVs ( only valid for companies with 5 letter names beginning with T) ?

Plus a contract for all US satellite launches for the full 1000 year Reich Presidency ?

Trump doesn't outright own TS, and he has some kind of exclusivity agreement with the holding company. So, he basically can't post on Xitter without violating the terms of that contract, which then probably can strip him of his ownership stake and potentially cost him hundreds of millions when he's bleeding cash everywhere.

That'll be a good story in a few years time, the FBI demanding the servers for the archives and them being in the Mar-A-Lago bathrooms.

Because Elon says that he can *already* deliver an extra 20,000 thousand votes to Trump. By June these will also be fully able to navigate themselves to the polling booths without needing to be driven (a massive saving on dogs and shepherds).

These voters will also be reusable after a controlled re-entry into the booths in the neighbouring district: Musk has claimed that "he knows more about vote rigging than any human alive at this time" although this statement has been reported to have caused some friction between him and Trump.

Sorry ?

Trump, who has been bleating about how Beijing is our enemy, imposing a ridiculous trade war and blaming China for everything he can't blame Mexica for, has used a Chinese firm for one of his shady deals ?

Wow. I would say somebody alert MAGA, but they'd have to have a brain to understand.