truth social may shut down

[moonshinegnomie]

when it was created they raised a ton of money using some financial merger voodoo. under the merger terms they had a year for it to close or they had to return the money they raised. the deadline was extended a year ago but the extension runs out september 8th.

they have a vote tuesday on extending teh merger deadline another year but they nned a 65% yes vote. if you dont vote it counts as a no.

hopefully the vote fails and we can chalk up another trump failure....

https://www.washingtonpost.com/technology/2023/09/02/truth-social-trump-media-digital-world/

[Wounded Bear]

1. Another trump failure on the offing? Say it isn't so!

[Ray Bruns]

32. I'm shocked. Shocked!

[AllaN01Bear]

2. so long, farewell. lol good riddance .

[bullimiami]

3. trump will just fund it himself. you know he is a billionaire business genius.

[ProfessorGAC]

47. You're Absolutely Correct!

Except for parts about being a billionaire & a business genius.
Other than those 2 minor details, your post is spot on!

[Yavin4]

4. Vivek. Then Musk, and now Truth Social

Starting to think that extreme right wingers are not good at running businesses.

[Alexander Of Assyria]

34. Has TwitterX been worse for hate speech since Musk takeover? No idea, don't use!

Most of the worst free hate speech seems to have landed in the full fascist platform.

[nolabear]

40. Oh GOD yes.

The past few days one of the most popular topics has been #BantheADL. THey're claiming the ADL is a hate group. I have kept up for late breaking news but it's getting subsumed by the horrid trolls, quite a few of them professional 1135809 supporters.

[efhmc]

49. I use it but love to see those hatemongers so I can delete them.

[Initech]

55. There's literal Nazis on the platform now.

And assholes like libsoftiktok are getting paid instead of getting shitcanned and arrested. Fuck Elon.

[Alexander Of Assyria]

64. If that is so then maybe good the most extreme are just circulating among their own kind mainly.

[NJCher]

36. they're terrible at business

that's why they are always trying to corrupt the public sector: They can't find or keep business any other way.

It's like their election strategy: if you can't get votes any other way, don't change your marketing strategy by appealing to the electorate. Hell no! Instead, cheat!

[Scrivener7]

5. Actually, I hope it continues. As long as it does, the defendant has to use it. And no one is

on it. If it shuts down, he has an excuse to go back to twitter where everyone breathlessly magnifies everything he says 24/7.

People still breathlessly magnify what he says on his site, but it seems a bit less in our faces. For example, I know he had a recent meltdown of 30 crazy posts. But I didn't see any of those posts in my daily perusing of DU or other sites. I just saw that they happened. That's a positive, I think.

[gab13by13]

11. No one is on it

but cable news reports on everything Trump says on it now.

[dalton99a]

6. So many glitches

https://archive.ph/uPolv

For Digital World, it would signal the ultimate financial fall from grace for a special purpose acquisition company, or SPAC, that turned its proximity to the former president into what was once one of the stock market’s hottest trades. Its share price, which peaked in its first hours at $175, has since fallen to about $14.

Digital World’s efforts to merge with Trump Media have been troubled almost from the start, beset by allegations that it began its conversations with the former president’s company before they were permitted under SPAC rules.

Then, in the past year, its issues became more pronounced: Its chief executive was terminated by the board, a former board member was arrested on charges of insider trading, and the company agreed to pay an $18 million settlement to resolve charges that it had misled investors and given false information to the Securities and Exchange Commission.

The merger has “been pretty much unprecedented in terms of all of the glitches,” said Jay Ritter, a University of Florida finance professor who studies stock markets. “The deal does seem to be running out of time. You can’t just keep getting extensions forever.”

[NJCher]

38. see what I mean?

Its share price, which peaked in its first hours at $175, has since fallen to about $14.

(re my post 36)

Woe is me. I'm terrible at business. Guess I'll go storm the capitol.

[viva la]

7. I remember a lot of naive MAGAs invested--

bought the stock at the very top.

All to support a 'billionaire's' vanity project.

I wonder who ended up with all the $ from the stock sold early when it was $100 a share.

[Bobstandard]

9. I bet Trump cashed out at the top, thinking "suckers!" all the way to the bank

He’s so delusional, though, that he may also have thought he was finally going rack up a giant success that would make Musk, Zuckerberg, et al finally respect him. Sorry buddy!

[GreenWave]

8. Black eyes peas lyrics as my response to false truth social

Shut up, just shut up, shut up
Shut up, just shut up, shut up
Shut up, just shut up, shut up
Shut it up, just shut up, shut up
Shut up, just shut up, shut up
Shut up, just shut up, shut up (Oh no)
Shut up, just shut up, shut up
Shut it up, just shut up, shut up

[Joinfortmill]

10. X is next.

[ancianita]

12. Yay!

Reposted...

[4lbs]

18. Maybe not even enough money for a simple cup of tomato soup.

Oh, and a slice of white bread.

Sheesh, even destitute people in food lines during the Great Depression got that.

[underpants]

13. To add on the a Howard Stern comment about Trump

How do you lose money selling red meat (and talking) to Americans?

[gab13by13]

14. If there is no extension,

Truth Social has to return 300 million dollars to investors.

[Mr. Ected]

25. From what I read yesterday, that's equal to Trump's actual net worth

Ironic if true.

[Attilatheblond]

31. Do they go to the back of the refund line

or get to cut in closer to the front?

[Diraven]

69. Technically

I believe technically it is DWAC which will have to return the money, which is the company that was formed to merge with Truth Social. But it looks like the merger won't happen now. When it doesn't happen Truth Social will probably go under soon because it is not profitable and needed that investment funding. Trump owns most of Truth Social but that stake was just given to him when it was created, so he won't be really have lost any money that he had to spend, just some potential net worth.

[struggle4progress]

15. ... shareholders in Digital World are now being asked to give the company another year

to complete the deal. If they refuse to do so at a meeting on 8 September, the enterprise may never become the $1.7bn company it once envisioned ...

Deadlines for closing the deal have already been extended five times. Digital World is facing warnings from the tech-heavy Nasdaq stock exchange that its shares could be delisted over a reporting issue ...

If shareholders fail to approve an extension, Digital World will be required to liquidate and return $300m it raised, leaving Trump’s Trump Media & Technology Group with nothing from the transaction ...

.. at one time investors in Digital World were hot for the Trump tie-up. Shares in Digital World soared to $175 when the merger was announced. On Friday, they stood at $16.51 ...

Truth Social faces uncertain future as key test looms
Edward Helmore
Sat 2 Sep 2023 10.34 EDT

[SouthernDem4ever]

16. Putin might run in and save the day

[gab13by13]

28. Going to take a lot of rubles

the value of the ruble has hit rock bottom.

[housecat]

50. with what?

[SouthernDem4ever]

72. Russia may be going broke but that doesn't seem to matter to Putin

so he's probably got enough of a stash to launder for is BFF trump.

[4lbs]

17. Hey remember, "Never Surrender". Looks like they will be 'surrendering'

on this one though.

What a 'successful businessman'. It looks like another one of his shams.... err... 'businesses'
is going bankrupt.

[Traildogbob]

19. Troath sentual

Maybe if he is forced back to X he has to follow maximum character rules and can’t spew dozens of pages at a time. Oh right…….trump has zero rules. None he has to follow.
Will the cow farmer from Cali go back to being a Cowboy wrangler for a living?
Another one touched by the black plaque of trump. Make that Orange, not black.

[trusty elf]

20. anagrams for "truth social"

[keithbvadu2]

33. That little flag,

[NJCher]

39. clever

Last edited Sun Sep 3, 2023, 05:59 AM - Edit history (1)

I've never seen a meme with his hair gone. No wonder he combs it into a square and plasters it in place with hairspray.

Get ready everyone: this might be what he looks like in prison. I don't think they have hairspray or orange dye at the commissary.

[Demobrat]

70. Or blow dryers.

[Ladythatvotesblue]

21. Amen

If I went a day without hearing from Trump or about him would be great.

[Fullduplexxx]

22. Doesn't matter he has x and fb to go on

[sarcasmo]

23. You can't raise money when you're spending it all on lawyers.

[MontanaMama]

24. ETTD

Universal rule, no exceptions.

[Ford_Prefect]

26. What makes anyone believe the money they fronted is still there to be returned?

[sarcasmo]

27. Gone like Super Pac and RNC money.

[Norbert]

29. A tRump business enterprise is shutting down?

I'm shocked! SHOCKED!

[Captain Zero]

35. STOCK FRAUD. UP NEXT?

Where will those indictments be filed?

[Upthevibe]

30. moonshinegnomie.......

So does that mean he'll be back on twitter/X?

[vanlassie]

37. Devin Nunes will be out of work again.

Trump will want to keep him on the payroll a bit longer, don’cha think?

[UTUSN]

57. Teh NUNES on public assistance! & Drumpf doesn't do payrolls!

[surfered]

41. That's too bad...

Sarcasm

[SleeplessinSoCal]

42. Anyone able to photoshop an X onto his mugshot?

That needs to go viral.

[Recycle_Guru]

43. these SPACs are able to be managed like this--kicking can down the road

but ultimately those who subscribed to the large investments will back away.

If it does go through, it is likely to be at a much smaller size/value than proposed whereupon it's opening price will crater in following weeks.

[Evolve Dammit]

44. Musk has his back. He'll just be on X non-stop with unchecked lies for the forseeable future. nt

[JohnnyRingo]

45. Time for another fund raiser!

His true calling is as a evangelical TV preacher.

[Martin68]

46. Truth social? What's that?

[Kennah]

48. Sending now

[SWBTATTReg]

51. Wire Fraud. That's all this was, plain ol' fraud to legitimately steal money. Charge them, convict

them, sentence and/or fine them massively.

[calimary]

52. They could change the name to "Liars Social" or "Pinocchio Place" or some such...

"Untruth Social"? "How-long-is-my-nose-now Social"?

At least a few of would be more accurate.

Or rename it "Tooth Social" and hand it over to the dental profession!

[former9thward]

53. Where in the article does it say Truth Social would shut down?

It says Digital World would shut down.

[Mike Niendorff]

54. "Trump Postal"

Soon to be "X2"? Or maybe "X Beta"? Meh, who cares.


MDN

[Initech]

56. Just another in the long list of failed Trump businesses.

[Cha]

58. Another trump FAILURE?

lol.. I wrote that before I read the OP.

[moniss]

59. Foreign money being laundered

so they'll maybe keep it spinning.

[Blue Owl]

60. I hope "Trush Soshul" ends up as more flaming wreckage on Dump's resume

Everything he touches…. Turns to shit!

[DFW]

61. Trump should be good for his debts

Just ask Rudy Giuliani

[czarjak]

62. Where Alternative Facts go to die!

[prodigitalson]

63. that's why he's easing back into the Xitter

[TomSlick]

65. May it please almighty God.

[ShazzieB]

66. T.his cartoon seems apropos right now

You know what they say: Everything Trump Touches Dies!

[GenThePerservering]

67. I'd rather he just keep wallowing on Truth Social

while it slowly circles the drain.

[LAS14]

68. Fingers crossed!!! nt

[COL Mustard]

71. As the wise man once said

ETTD. Everything x45 touches dies.