When it launched in February, Truth Social, Donald Trump’s attempt at a clone of the social media behemoth that may un-ban him, was another one of his many, many disasters. Lately he’s belatedly made an effort, making some, shall we say, dubious claims about the service he can’t even pronounce. But perhaps it will wind up yet another Trump dog, like Trump University, Trump Steaks, Tour de Trump, etc., etc. Indeed, even the company that’s about to acquire Truth Social doesn’t seem so optimistic.
Digital World, the “blank-check” firm planning to merge with Trump Media and Technology Group (TMTG) issued a regulatory filing on Monday. One thing it revealed is that, when the merger is complete, Trump himself is set to control between 47% and 58% of it. Digital World felt compelled to remind potential investors of the former president’s, shall we say, checkered history.
“A number of companies that were associated with President Trump have filed for bankruptcy,” the filing reads, alluding to the six times a Trump business has done so. “There can be no assurances that TMTG will not also become bankrupt.”
It went on: “A number of companies that had license agreements with President Trump have failed. There can be no assurances that TMTG will not also fail.” It also added, “While all of the foregoing were in different businesses than TMTG, there can be no guarantee that TMTG’s performance will exceed the performance of those entities.” And mind you, said entities did not also fail miserably.
Still, at least the big guy is confident that his latest venture will succeed. He’s so sure of himself that he’s already trying to fill positions form TMTG+, a streaming service that may or may not last as long as CNN+, provided it actually gets off the ground.
(Via Insider)