• Davel23
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    33922 days ago

    Former President Donald Trump has sued the co-founders of Truth Social, alleging they mismanaged the social media platform early on and should therefore lose their stock in the company, which recently went public.

    If mismanagement is enough to prevent someone from owning stock, Trump should not own a single share of anything.

    • @[email protected]
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      8721 days ago

      Well, honestly, Trump should not be allowed to own a single share of anything for many great reasons imo.

    • @psmgx
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      2921 days ago

      If mismanagement is enough to prevent someone from owning stock, Trump should not own a single share of anything

      I agree, though this is par for the course as Trump behavior goes. He’s got a long history of doing shady shit, screwing over partners and vendors.

      • Lemminary
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        1521 days ago

        I’m glad that people are learning the hard way not to trust him, although I would’ve preferred it if they had listened. I’m enjoying this shit show!

  • originalucifer
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    21622 days ago

    i almost feel bad for these guys… but i dont. its common knowledge that no good comes from going into business with trump

      • @dynamojoe
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        2621 days ago

        Each one of Trump’s business partners thinks “I’m not gonna get screwed by this guy!” and in the end each one of them does.

          • @TrickDacy
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            921 days ago

            nO oNe SaId He WaS a CoN uNtIl He RaN fOr PrEsIdEnT

            -my parents, who give zero fucks about all the counterexamples given to this idiocy

        • @[email protected]
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          621 days ago

          You’d think after walking past hundreds of guys with knife stabs in their back they wouldn’t enter a business deal with the dimwit waving a bloody dagger around.

      • fmstrat
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        721 days ago

        Took him in? They pitched the idea. They deserve what they get.

      • experbia
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        221 days ago

        there are always the people in every horror movie who think that if they deliver their friends into the open drooling maw of the monster stalking them, they’ll get a reward.

        the “reward” is usually at least as bad as their friends’ fate. it’s just narcissism really. they think they’re more like the enemy than they are like their friends, so it would be natural to spare them. but they’re all just meat to the monster.

        trump is just a shitty xenomorph. small hands instead of small mouth, and substantially less physically threatening. I think they both probably have the acid blood though.

    • @Wrench
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      1721 days ago

      In fact, they specifically targeted that demographic. They put their face inside a starving leopards mouth

    • @[email protected]
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      1721 days ago

      I don’t feel bad in the slightest. Everyone knows Donald is a sociopathic grifter. These guys wanted to run a con with him and got burned. I hope their lives are full of misery.

    • @CosmicTurtle
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      1221 days ago

      Except me. Right? He totally promised to make me president of Puerto Rico.

      Because I’m one of the good ones.

      I’m the exception.

      Right?

      • Optional
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        721 days ago

        I’m sorry but your check didn’t clear.

      • @emax_gomax
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        121 days ago

        President of Puerto Rico I’d the potus isn’t it? Puerto Rico I’d a us owned territory. Or was that the joke?

  • Flying Squid
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    19922 days ago

    I was going to ask which one of these people is the biggest idiot and then I realized the answer was yes.

    • SolidGrue
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      3321 days ago

      One if those “Never go in with a Sicilian when death is on the line” scenarios.

      /hahahahaha— <thud>

    • @[email protected]
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      3221 days ago

      He’s been defrauding contractors, backstabbing, and throwing people under the bus for decades. Even a grifter would have to be high as fuck on pure greed to have any business interaction with Donald.

      It’s hilarious that these scammers also received an inevitable betrayal. I hope they lose all their money and the stock crashes before Donald can get anything significant out. What a delight to see any of these lying con men lose it all.

    • @SupraMario
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      1221 days ago

      This is a perfect example of rats eating each other.

  • RubberDuck
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    11521 days ago

    May their court battle be drawn out and their legal bills astronomical. They deserve it. All of them.

  • @SlippiHUD
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    10821 days ago

    Yes, truth social is completely impossible without trump. Nobody could possibly spin up a mastodon instance without a former president backing you. Just absolutely unheard of.

    • @recapitated
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      5721 days ago

      I mean the fact that they managed to run it in a way that was illegal was pretty uniquely impressive.

  • @carl_dungeon
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    8522 days ago

    Trump should sue himself for being a dipshit

    • Jay
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      3522 days ago

      I was going to comment that he’d win at that at least, but for some reason I think he’d fuck that up too.

    • @CarbonatedPastaSauce
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      921 days ago

      Pointless, he wouldn’t be able to pay for the damages he’d owe himself.

  • @[email protected]
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    7921 days ago

    He’s going to get that money any way he can. No one is safe. He will sue his own children if it bails him out.

  • @[email protected]
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    5922 days ago

    “Without Mastodon , Truth Social would have been impossible,” the filing should have said said.

      • @halcyoncmdr
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        7122 days ago

        It is literally a Mastodon instance with no ActivityPub federation.

        • @[email protected]
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          8522 days ago

          That’s awesome. They had no significant development costs and still racked up a $15m loss in the last year. Yep, definitely a Trump enterprise.

          • @orclev
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            4021 days ago

            That’s because they have no revenue and significant operating costs. Turns out there’s not much money to be made in providing a platform to Nazis and conmen. There are all the MAGA idiots on there, but what little wealth they have has already been tapped out by the dick pill salesmen, their pastors, and Trump himself (plus whatever the latest pyramid scheme they’ve signed up for this week is peddling).

            • @CarbonatedPastaSauce
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              921 days ago

              Turns out there’s not much money to be made in providing a platform to Nazis and conmen.

              I love this. For some reason this particular train wreck is giving me a small glimmer of hope for the future.

            • @[email protected]
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              120 days ago

              Well sure, but I could provide a platform for Nazis and conmen for a hell of a lot less than $15m/year in operating costs.

            • @uienia
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              121 days ago

              Theres lots and lots of money to be made. The poorest ones will happily go into debt to support the various grifters. Truthsocial is basically nothing but grifting posts of the Trump base.

            • @[email protected]
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              121 days ago

              Turns out there’s not much money to be made […]

              Sadly I don’t think this is really true. That’s why at least some idiots think the platform is worth $11bn. Users don’t need to be wealthy, just stupid enough to click an ad for said dick pills.

  • @[email protected]
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    5822 days ago

    So Trump Media is operating on a revenue stream of 4 million a year, and is reporting a yearly loss of 58 million. How the fuck is that company’s stock rated at $60/share?

    • @Stupidmanager
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      1422 days ago

      Well first, throw logic out the door and you’ll come by your answer a little easier. hint, it’s because of capitalism.

      • @RagingRobot
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        821 days ago

        He overvalued it like he does everything he owns. The same thing he already got in trouble for in new York. This time it’s with a fake tech company instead of real estate.

        • @Windex007
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          321 days ago

          You can set the initial sell price in an IPO but nobody is obligated to buy it. Markets determine market price, and especially in tech they’re speculative in nature. This is in no way shape or form the same as what he did with his real estate.

          This current valuation is probably propped up by the same idiot base who buys his Bible’s and NFTs, or by foreign (or domestic) investors looking to indirectly buy his favour in anticipation of a 2nd presidency. Maybe a combination of the 2.

          • @paddirn
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            321 days ago

            I wonder if there’s actual serious investors valuing it that high, basing it on the possibility of a Trump win in the presidential election? Trump comes to power, does all his crazy fascist things and becomes dictator-for-life, and Truth Social becomes THE state media. Stock in in any other media company becomes worthless when Trump starts using the power of the presidency to shut them all down and we’ve only got one state-owned media company reporting on everything. It’s scary, but as an investor it might make a certain amount of sense.

            • @Windex007
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              21 days ago

              Given how much government money was spent at mar-a-lago it’s not at all absurd to say that part of the market price is based on the speculation of DJT receiving favourable government treatment/contracts if we see a second Trump term.

              I’d be curious to see how tightly polling correlates with DJT market value. It’s basically a corruption perception R2 index.

    • Kid_Thunder
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      1322 days ago

      Share price has never really been a representation of company health. Shares are traded at what people will buy them for. There also may be a lot of short selling going on waiting for the plummet.

      • @AbidanYre
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        721 days ago

        DJT and RDDT both had a bit of a dead cat bounce today.

    • @[email protected]
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      1321 days ago

      I wouldn’t be surprised if it’s just like essentially “Trump Bitcoin.” Effectively worthless but he’s got a gigantic pool of people who will throw money at him.

    • @FlowVoid
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      -121 days ago

      It’s worth $50, not $60. Anyway, share prices are arbitrary because they depend on the number of shares.

      Trump Media has a market cap of $5b, about the same as Lyft which also hasn’t turned a profit.

  • @Suavevillain
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    5521 days ago

    He is in a legal battle every day of the week and GOP voters are like damn this guy is fit to be President again.

  • Panda (he/him)
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    3621 days ago

    Breaking news: People who cozy up to face eating leopards will eventually get their faces eaten. More at 8.

    • @[email protected]
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      121 days ago

      Look at all these losers getting their faces eaten. I’m sure I am smart enough to not have that happen to me!

          • @SkyezOpen
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            421 days ago

            I’ll always cherish trump for giving us that presser though. Like, EVERYONE knew they meant the hotel, and rather than changing venue when they couldn’t secure it, they grabbed something with the same name and pretended it was intentional. Just truly amazing. Like a child with a chocolate covered face saying the dog ate the cookies.

            • @[email protected]
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              221 days ago

              I read a theory that they had to change the location because the hotel was near a school and someone in their group was legally barred from being that close to children.

              • @SkyezOpen
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                621 days ago

                While there was a sex offender that spoke at the conference, the Trump campaign actually changing the venue because of that one person implies either

                • they care about keeping sex offenders away from kids

                Or

                • they respect the law

                Since neither are true, I don’t think the theory stands up to scrutiny.