this post was submitted on 21 Oct 2024
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Dude. Isn't truth worth billions?
I guess you're mostly right, but the exception is that they need one safe space in which to congratulate each other and wank about NFTs and what not.
You mean Trump's Twitter clone? Depends on how you define "worth." The total stock valuation is worth that much, but that's because stocks are largely bullshit priced based on how buyers feel. Someone keeps buying the stock, so the price reflects that.
If you're talking about the company itself, it's not worth dick. They have a six or seven digit revenue compared to eight or nine digit losses- there is absolutely no way the stock price represents the "true" value of the company. Given that Trump owns 60% of the shares it's absolutely certain that someone is using it as a way to funnel money to Trump outside of campaign finance laws.
Also, they don't have that many users.
You're dead right that the company isn't worth anything in a traditional sense.
However, the existence of truth social directly contradicts your claim that they don't want an echo chamber.
A daily active user count of under 80,000 is utterly meaningless for a social media site.
The right-wing chuds aren't flocking to Truth Social because they can't "own the libs" there. That's what I mean when I say they don't want an echo chamber.