Former U.S. president Donald Trump launches new social media platform
Category: News & Politics
Via: hallux • 3 years ago • 43 commentsBy: DAN WHITCOMB - LOS ANGELES - REUTERS
Former U.S. President Donald Trump will launch his own social media app, TRUTH Social, that he said would “stand up to Big Tech” companies such as Twitter and Facebook that have barred him from their platforms.
TRUTH Social will be created through a new company formed by a merger of the Trump Media and Technology Group and a special acquisition company (SPAC), according to a press release distributed by both organizations.
“We live in a world where the Taliban has a huge presence on Twitter, yet your favourite American President has been silenced. This is unacceptable,” Trump said in a written statement included in the release.
“I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all. I’m excited to soon begin sharing my thoughts on TRUTH Social and to fight back against Big Tech,” he said.
The social network, set for a beta launch next month and full rollout in the first quarter of 2022, is the first of three stages in the company’s plans, followed by a subscription video-on-demand service called TMTG+ that will feature entertainment, news and podcasts, according to the news release.
In a slide deck on its website, the company envisions eventually competing againstAmazon.com’s (AMZN-Q) AWS cloud service and Google Cloud.
A Trump representative who declined to be named confirmed the contents of the TMTG news release to Reuters. Trump spokesperson Liz Harrington also tweeted a copy.
“For so long, Big Tech has suppressed conservative voices,” the former president’s son, Donald Trump Jr., told Fox News in an interview. “Tonight my father signed a definitive merger agreement to form what will ultimately be the Trump Media and Technology Group and TRUTH Social – a platform for everyone to express their feelings.”
Twitter, Facebook and other social media platforms banned Trump from their services after hundreds of his supporters rioted at the U.S. Capitol on Jan. 6.
That protest came after a speech by Trump in which he falsely claimed that his November election loss was due to widespread fraud, an assertion rejected by multiple courts and state election officials.
The deal will list Trump Media & Technology Group on Nasdaq through a merger with Digital World Acquisition Corp (DWACU-Q), a blank-check acquisition firm led by former investment banker Patrick Orlando.
Trump Media & Technology Group will receive $293-million in cash that Digital World Acquisition Corp had in trust, assuming no shareholder of the acquisition firm chooses to redeem their shares, according to the statement.
Orlando, who has worked at Deutsche Bank and BT Capital Markets, has launched at least four SPACs and has plans for two more, according to his firm’s website and regulatory filings.
But none of the SPACs have completed a deal yet. A China-based SPAC that Orlando led failed last month to complete a merger with Giga Energy Inc that would have valued the transportation solutions provider at $7.3-billion, because it could not deliver the cash required, according to regulatory filings.
Shareholder redemptions reduce the amount of cash that Digital World Acquisition Corp will have available to give to Trump Media & Technology Group at the closing of the deal.
The companies said in the statement that the completion of the merger is subject to redemptions not exceeding an agreed minimum cash requirement. The statement did not disclose what the requirement is, though that detail is typically contained in a regulatory filing that should follow on Thursday.
The deal values Trump Media & Technology Group at $875-million, including debt, according to the news release.
It was a tough call as to where to seed this, News & Politics or Entertainment ... Mental Health?
I thought it was satire at first...you could have posted it in Sinners and Buttheads
I need to figure out how to seed in 2 areas first.
I don't think that can be done
And all the people that have been complaining about 'conservative censorship' will be doing exactly what they accuse others of.
I already signed up. I hope to be selected for its beta testing before its official opening in a few months.
You might very well make me ask my mother to pray for your success.
That does not mean that I’ll ever be leaving this site. I’m here for life unless MBFC causes all of my favorite sites to be banned here.
Can we disparage NewsTalkers with our content here? Why would you expect them to tolerate disparaging their site any more than Perrie would tolerate it here?
Thanks, let's have a vote.
Truth Social TOS
It's designed as a mission to give a voice to Donald Trump.
"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable. I am excited to send out my first TRUTH on TRUTH Social very soon."
The application has a ToS that states they will boot people if they make of fun of Trump, excessive use of capital letters, or any reason they want to. So not really the bastion of free speech it's being touted as.
EDIT: From the ToS -
Q Anon followers will be happy
I will last one nanosecond there.
Much faster than that.
You always remember what I have forgotten, !!!
Eggsalant choice !!!
I dont see Trump as a media mogul. This is for his die hards only.
Really? He had experience in entertainment and tv prior to running for President. If this takes off, I could see him next year after the nov. 2022 election deciding to go all in on this and not run for President in 2024. So some might want to root for this to be a big success.
Bwahahahahahahahahahahaha
I saw an article that says this is an investment scam that will make Trump 350 million dollars. It went into great detail but I have to admit I wasnt interested enough to read more than the first couple sentences.
This isnt the same article I saw before, but its along the same lines
Is Ironically Named Trump Media Company Just Another Grift? | Crooks and Liars
crooksandliars.com /2021/10/ironically-named-trump-media-company-just
Is Ironically Named Trump Media Company Just Another Grift?
Susie Madrak 3-4 minutes 10/21/2021
So yesterday Trump announces his new social media site, called Truth Social. (Which right there, is some real truth in advertising, amirite?) And this being Trump, it smells like just another short-term money-making grift for the "billionaire" who's drowning in the costs of his many, many lawsuits and criminal investigations. Via Gizmodo:
The Wall Street Journal explains it here:
SPAC investors have the right to pull their money out before the deal is finalized, and it's been known to happen. What are the odds? Well, as we know, everything Trump touches dies. According to the New York Times , investors weren't quite sure who they were getting in bed with, and weren't exactly reassured:
I'm not a stockbroker, but somehow I feel safe in advising all y'all not to put your hard-earned money into anything with his name attached, like Trump University, Trump Institute, Trump Casinos, Trump Airlines, Trump Vodka, Trump The Game, Trump Travel, Trump Steaks, and Trump Ice.
No need to tell me twice
It will fail just like everything Trump is involved with.
It absolutely will fail, and then Trump will sue everyone he can think of, just like always.
Well I already made money off of this. I bought shares of DWAC the company merging with Trump group at $10 a share last night that are now worth $55 a share. I only regret not throwing my life savings at this. If this valuation comes close to holding there will be plenty of capital to get this going and I’ll have played a real role in it getting up and running.
Blood money, like Jesus cast out of the Temple?
Like I said. I could have retired rich if I’d bet the farm so to speak last night. I’m proud to do what little I can to contribute to the success of this anti big tech social media venture!
I heard that you can't cancel once you join.
I believe that you heard wrong on that count.
Unbelievable returns in an early release usually burn the investors while the shell company marches off into the sunset with their money.
You must read the wrong sources.
A ‘non-cancellable’ community: the ‘truth’ about Trump’s social media platform | Donald Trump | The Guardian
Mastodon is already making waves.
Mastodon offers FREE software to build social media web sites within their very old and very tested license agreements.
Truth Social is promising deletion based on dissension from their opinions which violates the Mastodon license.
Truth Social is proclaiming that it's software is proprietary which apparently s false and may well head to court.
Truth Social isn't even online yet and facing typical Trump legal missteps.
Truth social is saying that all opinions are welcome and that no one will be deleted based on legal content.
Go back to your account and read section 23 of the Terms of service.
Sounds like they just want a Trump worshipping echo chamber,
with donations and investment in SPAC.
"Fools and their money"
Donald has their number, lol.
MAGA mega tool box
!!!!!!!!!!!!!!!