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Company also announced a paid service for early access to president’s posts on policies to the social media site

Donald Trump’s media company – which owns the Truth Social platform favored by the US president – posted a $238m loss in the second quarter.

Trump Media & Technology on Monday reported that losses in the three months through June came as the company branched into new ventures including crypto. The company’s new chief executive, Kevin McGurn, announced at a conference call about the earnings that after a yearlong effort to expand into online betting and crypto, the company would be refocusing on social media.

top 14 comments
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[-] bambam@piefed.social 5 points 13 hours ago
  1. Setup a Mastodon server
  2. Have President of US post on it
  3. Take the "company" public as a meme stock
  4. Dump your stock onto the suckers
  5. Rinse and repeat with another scam, like World Liberty Financial, or Trump Bibles, etc
[-] prole 8 points 15 hours ago

Everyone acting like this will screw him somehow without realizing that this is one of the ways that these fucks avoid ever paying taxes.

[-] Zeppo@sh.itjust.works 3 points 13 hours ago

Quite sure this is just financial chicanery. "Lost money" - well, where did it go to? They didn't burn cash in a bonfire. So who has it then? Suppliers? Insiders?

[-] PattyMcB@lemmy.world 2 points 12 hours ago

He still pulled in how many billion last year? Yeah... it's all a scam.

[-] 13igTyme@piefed.social 16 points 21 hours ago* (last edited 21 hours ago)

When sensible people look at service things like the post office and the library, it's understood that profit should be negative with revenue being zero. It's a service already being paid for.

When a dictator looks at a propaganda machine, they understand losses are acceptable when it's used to make billions elsewhere and gain control.

[-] CharlesDarwin@lemmy.world 0 points 6 hours ago

Right? He made 2 BILLION (that we know of), just last year. Losing $238M on this, even assuming all 238M of that is coming out of his bottom line?

BFD.

[-] mufkin@lemmy.zip 5 points 20 hours ago

Fuck trump. He hates America.

[-] DementedSociety@lemmy.world 2 points 17 hours ago

One can only hope he burns in hell for eternity!

[-] Arghblarg@lemmy.ca 5 points 22 hours ago

It doesn't need to make money any more (if it ever did), it's a "loss leader" of sorts; it's lube, to keep the other grifts going which he now makes far more money from.

[-] skisnow@lemmy.ca 1 points 19 hours ago

I would make fun of the guy for not even being able to make a bribery scheme unprofitable, but I've never been more certain that the losses are on paper only for tax and creditor purposes.

[-] floofloof@lemmy.ca 4 points 22 hours ago

Gotta pump those numbers up. Those are rookie numbers.

[-] DrSleepless@lemmy.world 2 points 22 hours ago
[-] wizbiz 2 points 22 hours ago
[-] cyberpunk007@lemmy.ca 2 points 23 hours ago

That's the art of the dwal

this post was submitted on 11 Aug 2026
182 points (100.0% liked)

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