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Joined 1 year ago
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Cake day: September 27th, 2023

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  • Trump, a main draw for Truth Social users and many retail investors in the company, said earlier in September that he will not sell his stake. The stock price briefly shot up after his remarks.

    Other early investors have made no such promises. They include ARC Global, a sponsor of the blank-check firm that took Trump Media public, and United Atlantic Ventures, an entity controlled by two former contestants on Trump’s reality show “The Apprentice.”

    I believe it’s not only that these investors made no promises not to sell, but that several of them specifically expressed that they would be selling as soon as they were legally allowed to do so.

    It’s hard to accurately value Truth Social. But I think if Trump were to leave the platform, its value would go to zero, and that makes it very risky. I just saw a price of 12.74. I wouldn’t be surprised if it’s still quite overvalued, and so it makes sense for those investors to try to sell at this price.















  • This article is a debate-style where they asked people to argue each side.

    The person defending Clarence Thomas really stretches in that defense, relying on the fact that he sort of knew him in law school and he was “sweet”.

    He furthermore relies on it being “travel expenses” with “a close friend” who has no “pending” cases. Those words in quotes do a shitload of heavy lifting.

    Thomas didn’t just get travel expenses paid. Somebody bought him an RV. This billionaire didn’t become “a close friend” until Thomas complained about his pay publicly and acted like he would resign. And for an oligarch, many cases are of interest.

    It was a weak argument and the guy obviously knew it. He did his best, but Thomas’s actions are really basically indefensible.