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The effort to create a non-DNC-filtered social media platform got some serious capital investment promise recently when a Trump company entity and an independent investment company declare the intent to create a $1 billion investment fund to support the creation of “TRUTH Social,” which promises to rival Facebook and Twitter.

The social media venture claims it will reach 81 million users by 2026.  This figure is significant if this audience is primarily American, which, it most likely will be.  It would be fair to say that 10 percent of the users might be non-American, making it 72 million American users, a figure that would be politically significant.

The SEC has sent inquiries into the venture’s profit claims, a fact the venture openly acknowledges.  Most likely, given the scale of this project, over $1 billion, the SEC was bound to at least send inquiries into the claims.  Let us hope, however, that the Trump team has dotted their I’s and crossed their T’s to legally pass the highly politically biased micro-scrutiny that is realistically to be applied to President Donald J Trump.

Trump being the focal point, the draw of the venture, is a marketing plus on one hand but a political liability on the other.  Given the nature of the DNC to use lawfare as a means of silencing dissent, Trump is a target that they have already demonstrated they are willing to use any lawfare means to try to silence.

This fact alone might put the whole project at risk, but, even without the legal issues that might come its way, Trump is largely a conservative icon, a conservative draw, and it draws into question whether the platform can escape the kind of banned right branding that other competitors like Gab suffer from.  Certainly the media will not lack in stories of muh racisms and bigotries on TRUTH Social.

What is needed is not a Trump platform, one that might also invite FEC scrutiny down the road, but an independent platform funded by a large group of people.  Can a Bill of Rights centered American people crowdfund a billion dollar project to create a true social media platform free from the factional censors of either the ‘right’ or the ‘left?’

As for the media’s coverage of this venture, the coverage appears to be mostly reasonably neutral, but there is one little sentence that stands out above all others, and this is from CNBC.  In their article, a straight-news piece, at one point they matter of factly state this:

From www.cnbc.com

Trump’s company plans to launch a social media platform called “TRUTH Social,” which purportedly would compete with Twitter and Facebook, both of which have banned the former president because of his incitement of the Jan. 6 Capitol riot.

They state it as matter of fact that President Donald J Trump did indeed incite the “riot” of January 6th.  On both the use of the term  riot and incite, one can offer some counter perspectives, but this company, CNBC, would have you believe the science is settled on this, nothing to see here, move on.  This is writing to create an image of yourself in the reader rather than serving the reader with information the reader decides how to process, and what conclusions there are to be drawn.

But that’s just Utopian journalism folks, and, in fact, it has only ever existed in small spaces and times in various parts of the world throughout the past couple of centuries.

Here are the news blurbs from the mainstream media:

Trump social media venture unveils forecast of 81 million users by 2026

From www.breakingnews.ie
2021-12-06 16:13:56
BreakingNews.ie
Excerpt:

Donald Trump’s new social media company forecasts it may have 81 million users by 2026.

The figure is nearly seven million more people than voted for him in the last US presidential election.

The projection was filed with securities regulators by the company trying to bring Trump Media & Technology Group to the stock market.

The company, Digital World Acquisition Corp, said over the weekend that it has lined up one billion US dollars in promised investments for the former president’s new venture from a group of unnamed institutional investors, and it filed a copy of the presentation.

The filing also said that the deal has attracted some scrutiny from regulators.

Read Full Article

 

US Regulators Probe Donald Trump’s Social Media Deal

From www.ndtv.com
2021-12-06 17:46:47

Excerpt:

US regulators are scrutinizing a deal between Donald Trump’s fledgling social media company and an investment vehicle to bring the former president’s venture to the stock market, documents showed Monday.

The companies, once merged, say they plan to launch the social media platform “TRUTH Social” nationally early next year, hoping to rival services like Twitter, which banned Trump over the January US Capitol riot.

Digital World Acquisition Corp (DWAC), which is partnering with Trump, reported in a filing to US markets watchdog the Securities and Exchange Commission that it received “preliminary, fact-finding inquiries from regulatory authorities, with which it is cooperating.”

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Trump social-media venture under scrutiny by US regulators

From abcnews.go.com
2021-12-06 16:37:20

Excerpt:

The company partnering with Trump Media & Technology Group acknowledged the inquiries in a filing it made with regulators on Monday. It also gave some financial forecasts for the company, which is hoping to rival Twitter and other platforms that banned Trump, along with Netflix and other streaming video services.

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Trump SPAC under investigation by federal regulators, including SEC

From www.cnbc.com
2021-12-06 17:09:02

Excerpt:

The SPAC that plans to merge with former President Donald Trump‘s new social media company on Monday revealed that the Securities and Exchange Commission and another regulator weeks ago asked it for information regarding stock trading and communications with Trump’s firm before the deal was announced.

The investigations by the SEC and the Financial Industry Regulatory Authority were disclosed in an 8-K filing with the SEC by Digital World Acquisition Corp., the special purpose acquisition company on track to merge with Trump Media & Technology Group.

Trump’s company plans to launch a social media platform called “TRUTH Social,” which purportedly would compete with Twitter and Facebook, both of which have banned the former president because of his incitement of the Jan. 6 Capitol riot.

Read Full Article