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Monday, April 01, 2024

Rinse, Lather, Repeat.

The truth about Trump's bullshit social media platform Truth Social deal is emerging:

Shares of Truth Social owner Trump Media & Technology Group plunged Monday after the company disclosed that it lost more than $58 million and generated very little revenue in 2023. Former President Donald Trump is the company’s majority shareholder, and his net worth tumbled by more than $1 billion Monday as a result.

The figures underscore why some experts warn Trump Media’s multibillion-dollar valuation defies logic and is reminiscent of the meme stock craze.

In a regulatory filing on Monday, Trump Media said it lost $58.2 million in 2023, compared with a profit of $50.5 million in 2022. 

I don't know anything about money or business other than I'm glad there's people who do but I have learned what happens to people when they try to board the Trump Train so here's what I'm *guessing* will happen, and by "so here's what I'm *guessing* will happen" what I really mean is I can promise you the following will 10000000% happen:

1) whatever bullshit evaluation there is for Truth Social will be just enough to carry Trump over the goal line to raise enough money for whichever one of his 5,000 court cases is the one that's pushing this

2) The actual value for Truth Social will immediately crumble into dust & vanish

3) Trump will get to skip off down the road, the fat kid with a thirds scoop of ice cream so he can still run for president and brag about how rich he is

4) all the OTHER investors of Truth Social will be scrambling for their life savings

5) if Trump thinks about any of these people at all it'll only be to make fun of them

6) those people will be financially ruined for life, some will go to jail

Well. I guess that's about it. It's hard in 2024 to feel bad for people still fucking falling for Trump's shit but I don't think anybody would try to argue I'd be too good to fall for it myself. Just fucking tragic, and fucking non-ending these days.

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