Wanna bet that, when the site crashes permanently, Trump and the MAGAts will claim it was canceled by the radical left media?
This is the factor. Up until he became president, Trump himself never actually did very much to make his businesses a “success”. He was The Boss. He had an idea, and then told the little people to get it done. For many decades, that was usually enough. No matter how bad he was on a personal level, he found a constant stream of people who would do the real work for him, in hopes of getting paid for it.
But once it became well-known how poorly he treats people, no one who was actually smart enough to do the job really wanted to work for him. So he had these Grand Ideas, and demanded that they be done, but didn’t have anyone competent around him to do the actual work any more. Finally his utter lack of competence and discipline is laid bare for all to see: Without his lackeys, he’s nothing, and can build nothing. You can’t be The Boss without anyone to boss around, and he doesn’t have what it takes to do it himself.
Even worse than not getting competent people is that the only people he could attract were not only incompetent, but also grifters like theTrump himself. Hard to produce a product when everyone on the team is a grifter looking to make money off the rubes.
I have never seen an episode of The Apprentice. Heck, I don’t know if I ever saw an entire commercial for the The Apprentice. But isn’t this the basic premise for the show?
Never seen it either Johnny. Having Trump in and out of the news before it was enough for me to never look.
The whole premise of the show sounded really stupid, then put an asshole in front of the cameras. Yeah, no thanks.
Having caught about 15 minutes of it in the breakroom years and years ago, I’d say that sounds about right.
Pretty much, yeah, but it’s what he’s always done. One of his ghost writers described Trump’s usual “workday”, which was typically spent doing absurdly easy things like looking at fabric swatches for decorating his various properties. He cared more about that than any of the more important details of finance, or business, or anything. He looked at swatches, and decided he was brilliant.
https://www.sfgate.com/politics/article/trump-ghostwriter-interview-taxes-loss-13832896.php
As the article says…
Digital World wants to extend a merger deadline by one year, to September 8, 2023. It needs 65% of shareholders to vote for the extension. By Monday evening, far fewer than that had voted in favor of the extension, sources had told Reuters.
My guess is that shareholders see that this is a big loser and don’t want to throw good money after bad. Better to cut your losses.
Yeah it looks like the options given to shareholders are “Extend merger another year (which seems to assume Truth Social will exist in another year)” or “Acquisition company gets liquidated and you get (most of) your money back.” and folks are choosing to just get their money back. Not a good sign, losing investor cash injections is the number one way for worthless bullshit tech companies go under.
Isn’t this just about Trump paying the fucking bill? Could he just do that and keep the site up?
1.3 billion is a lot of money for anyone. It’s even more daunting if you’ve been lying about being a billionaire your whole life
I thought Trump just owed a bit over a million to the company that hosts the site.
But if it fails spectacularly, well 
Trump doesn’t pay his bills.
I don’t think it’s just a matter of one unpaid bill. Think of it like owing rent on an apartment when you’re unemployed, and you’re about to be evicted. Sure, if you scrounged up enough money to pay your back rent, you can stay there for a while. But without a steady stream of income (or a huge gift/loan from someone) you’re only staving off the inevitable. That’s why this latest attempt is trying to invest over a billion dollars into the platform.
Also, I would like to amend what I said before about the shareholders not wanting to throw away good money that would be flushed down the toilet (like a top secret document at Mar-A-Lago). The other problem is that the proposal might not be legal. Per the following article, this is potentially a criminal matter.
The $1.3bn cash infusion from Digital World Acquisition Corp has been on hold since last October due to civil and criminal investigations into the circumstances around the merger.
So it isn’t just an issue of wasting money, but breaking the law while doing so. It’s no wonder people aren’t so eager to sign on.
This is where the grift bit them in the ass.
The issue they are facing is that much of the stock was sold retail… i.e., direct to the purchaser… and not via institutions (Goldman buys a piece, Citi buys a piece, etc). Usually in situations like this the institutional investors still own enough stock that these measures rarely fail to reach the threshold (65% in this case). But individuals? They are notorious for ignoring proxy votes and other paperwork which isn’t a dividend check or a tax statement.
And that is what happened here. They sold 22 shares direct to Jane and Jim USA, 100 shares to Bill MAGA, etc etc etc, and they grifted, er, sold so much stock to little investors that they can’t hit that 65% because the small investors are tossing their ballots in the trash.
I recall reading recently that Trump’s SuperPAC has something like $100M. As long as he’s not a declared candidate, there’s not a lot of restrictions on how he can spend that. I’m sure paying this bill would be allowed.
Sure, but that’s only a fraction of what the site apparently needs to stay alive. I believe the idea is that it wants to become a rival to Twitter which makes billions of dollars a year (I’ve read anywhere from just over $2B to over $5B), and yet rarely shows a net profit (only doing so in 2018 and 2019). That’s freaking expensive. It’s no wonder they’re trying to invest over a billion dollars to keep Truth Social going.
How could this clusterfuck ever rival Twitter? They can’t even get their app on Google’s Play store!
And Twitter is a global platform. I highly doubt Agent Orange has much appeal outside the US, and without him it’s pretty much got nothing.
Stupid is as stupid does.
It all boils down to the idea of, “Twitter bans me? Well fuck them, I’ll make my own Twitter and that’ll show them all!”
And idiots support him. (Though clearly not nearly enough of them.)
trump Pay the bill? Hahahahaha! With what? The deed to a racehorse?
Without the blackjack and hookers, though, he ain’t showing anyone shit.