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.
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.
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!
i almost feel bad for these guys.. but i dont. its common knowledge that no good comes from going into business with trump
Yeah, I feel nothing for these people. They knew he was a snake when they took him in.
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.
Surely the 40+ years of people saying he's a con man narcisist are surely wrong.
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
My thoughts on the matter.
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.
Pretty much. What do you expect?
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?
I was going to ask which one of these people is the biggest idiot and then I realized the answer was yes.
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.
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.
I mean the fact that they managed to run it in a way that was illegal was pretty uniquely impressive.
What's the background there? Illegal...?
Trump should sue himself for being a dipshit
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.
He tried but his best lawyers messed up the paperwork.
"Without Mastodon , Truth Social would have been impossible," the filing should have said said.
Why's that?
It is literally a Mastodon instance with no ActivityPub federation.
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.
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).
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?
It's a vehicle for trump to accept foreign money, that's how.
Money laundering
Tax fraud.
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.
Well first, throw logic out the door and you’ll come by your answer a little easier. hint, it’s because of capitalism.
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.
Rational markets 👍
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.
Breaking news: People who cozy up to face eating leopards will eventually get their faces eaten. More at 8.
A trump never pays his share
Every one of these people:
Wait until all the rubes who bought stocks find out that they're next. The fine print actually says that your stock purchase is actually just a non-refundable donation to the Donald J. Trump legal defence fund.
Who knew that a renowned ruthless bastard snake oil swindler, and sexual predator, would be a bad person to get in to bed with.
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