Today, former President Donald J. Trump have launched his Social Media platform – the “Truth Social”, as a part of the Trump Media and Technology Group (TMTG). This a formed business after a merger with Digital World Acquisition Group (DWAG). The TMTG will have initial growth with the capital from DWAG. So, it is the DWAG who funds the operation and TMTG.
The first launch is the “Truth Social” which is supposed to compete with Facebook and other social medias. That will be a hard battle and not something to easily compete with. Not like other sites haven’t tried and other entrepreneurs has done it’s bidding too. Yes, the hardcore Trump supporters will join in. Just like the few phony Republican’s who bought the “Freedom Phone” too.
That Trump will fight “big tech” isn’t surprising. As Trump needs a new hustle and new scheme to raise funds. Clearly with the evaluation of close to a billion before even launching or having a beta-version out. Heck, there are just pre-pre-signups to it. Therefore, his really betting on another people’s money. While social media haven’t been a cash-cow or an easy way of earning profits. Since, you need research and development. Always need for more updates and reignite to new platforms and versions of smartphones. That is a costly endeavour…
It’s hard to believe that this company will be able to fight the giants now. Since, the owners of other social media are so big, and they have such a “monopoly” over the various fields. In this regard, don’t expect TMTG to be able to compete with Google or Facebook. Heck, they have to battle to even compete with Yahoo. Seriously, they will be a 4Chan and a Reddit level of importance. Some might even say a own stage of IRL Chat or Discord server. Have a hard time believing in the launch or the credibility to beat “big tech”.
I’m old enough to remember Clifford “T.I.” Harris launching the social media site “Streetcred.com” and it never popped off. It was a flair and a try into a new field for the rapper and entrepreneur. However, it wasn’t all that and neither was the features on the sight anything to aspire too. Neither was your friends there or your family. So, it was only a few fans of T.I. and that’s it.
On this site and networks… it will be filled the Trump supporters and the Republicans who feels left out from the rest of the social media sphere. It will be a 4Chan and a Gab. I cannot see this becoming a true a competitor or even can gain so much traction. Since, the established ones have the familiarity and the people on it already. So, it’s a David against Goliath without even a proper tool to sling the stone.
I have a feeling this will be dissolved just like “Streetcred.com” did. Unless, he has enough gullible supporters and rich patronage who wants to fund the losing enterprise. Since, this will not be a winning a place or a profitable enterprise. No, this will be an endless money-pit with few to none avenues of finding places to gain revenue. Therefore, TMTG better hope DWAG gets more investors and financial muscles. They have a mountain to climb and need experienced people to pass over the mountain passes.
Trump has so many failed businesses. This would be another one… wouldn’t be shocked if this followed the airplane, vodka or steaks. Heck, this could be another casino venture of epic failure. So, the ones putting stocks into this and investing. The money is already lost and there will be no way of getting returns on the investment. That capital is gone and so in the name of the company as well. Peace.