Stiffed vendors, huge financial losses, and a trademark denial: Truth Social faces an uncertain future amid concerns over Trump's dwindling popularity

[madman]

Another failed venture?? I think so.
And i wont shed a tear when the cesspool is shut down for failure of payment.

HA!

Stiffed vendors, huge financial losses, and a trademark denial: Truth Social faces an uncertain future amid concerns over Trump's dwindling popularity and continued controversies

Fox Business News reported the social platform is accused of shorting its vendor RightForge of more than $1 million in contractually obligated payments.

www.businessinsider.com

The future of the former president's 10-month-old social media platform, Truth Social, is on uncertain ground as the app faces huge financial losses and is accused of shorting its vendors amid Donald Trump's continued legal controversies.

A planned merger between the Trump Media & Technology Group (TMTG), the business that created the Truth Social platform, and the special purpose acquisition company (SPAC) Digital World Acquisition Corp, has been postponed indefinitely as the Securities and Exchange Commission investigates the platform's business dealings.

SPACs like Digital World are companies formed either to raise funds through an initial public offering or for the purpose of merging with an existing company. SPACs have no other commercial operations. In an SEC filing earlier this month, Digital World said it had "neither engaged in any operations nor generated any revenues to date" as its sole purpose was to prepare to take Truth Social public.

In another filing, Digital World sought shareholder approval to delay the merger, set to take place Sept. 8, until next year, citing concerns over the former president's reputation potentially impacting business.

 

[Phys251]

Another failed venture?? I think so.
And i wont shed a tear when the cesspool is shut down for failure of payment.

HA!

Stiffed vendors, huge financial losses, and a trademark denial: Truth Social faces an uncertain future amid concerns over Trump's dwindling popularity and continued controversies

Fox Business News reported the social platform is accused of shorting its vendor RightForge of more than $1 million in contractually obligated payments.

www.businessinsider.com

The future of the former president's 10-month-old social media platform, Truth Social, is on uncertain ground as the app faces huge financial losses and is accused of shorting its vendors amid Donald Trump's continued legal controversies.

A planned merger between the Trump Media & Technology Group (TMTG), the business that created the Truth Social platform, and the special purpose acquisition company (SPAC) Digital World Acquisition Corp, has been postponed indefinitely as the Securities and Exchange Commission investigates the platform's business dealings.

SPACs like Digital World are companies formed either to raise funds through an initial public offering or for the purpose of merging with an existing company. SPACs have no other commercial operations. In an SEC filing earlier this month, Digital World said it had "neither engaged in any operations nor generated any revenues to date" as its sole purpose was to prepare to take Truth Social public.

In another filing, Digital World sought shareholder approval to delay the merger, set to take place Sept. 8, until next year, citing concerns over the former president's reputation potentially impacting business.

No surprise. Everything trump touches turns to shit.

 

[snakestretcher]

No surprise. Everything trump touches turns to shit.

The "very stable genius" can't even sell a steak or a bottle of vodka without ****ing-up...

Here Are All of Trump’s Bankruptcies and Failed Businesses

By Sahid Fawaz Donald Trump loves to talk big about how great he is at business. His record says otherwise.

labor411.org

Quote; "This is the guy Republicans want leading America's economy?"

 

[WorldWatcher]

The "very stable genius" can't even sell a steak or a bottle of vodka without ****ing-up...

Here Are All of Trump’s Bankruptcies and Failed Businesses

By Sahid Fawaz Donald Trump loves to talk big about how great he is at business. His record says otherwise.

labor411.org

The man bankrupted casinos.

..... ..... CASINO's!!!

..... ..... ..... ..... The business model is basically...

..... ..... ..... ..... ..... ..... People walk in and hand you their money.

..... ..... ..... ..... ..... ..... ..... ..... CASINO's!!!


WW

 

[snakestretcher]

The man bankrupted casinos.

..... ..... CASINO's!!!

..... ..... ..... ..... The business model is basically...

..... ..... ..... ..... ..... ..... People walk in and hand you their money.

..... ..... ..... ..... ..... ..... ..... ..... CASINO's!!!


WW

I know, it beggars belief! He essentially had a license to legally take some poor schmuck's money, and failed at that! That is the epitome of a loser-I won't mention losing elections; whoops there I go again with my big mouth!.

 

[Lord Tammerlain]

Donate to Truth Social for Trump

A go fund me account created by me to support Truth Social, to keep Trumps free speech supported by financial means.

Note all donations will be forwarded to Truth Social once it has closed down and no longer a legal entity. In the meantime the money will be used to fund administration costs for the for profit charity I will set up to run this go fund me

Donate early Donate often

 

[NuffSaid]

We all know that when Truth Social closes, Idiot Devin Nunes will be thrown under the bus.

 

[NuffSaid]

Donate to Truth Social for Trump

A go fund me account created by me to support Truth Social, to keep Trumps free speech suppoted by financial means.

Note all donations will be forwarded to Truth Social once it has closed down and no longer a legal entity. In the meantime the money will be used to fund administration costs for the for profit charity I will set up to run this go fund me

Donate early Donate often

Please, empty your retirement accounts....FOR ME!!!! YOUR Great President, Donald J Victim.

 

[Airyaman]

And the hits keep coming!

Trump's Truth Social barred from Google Play store over content moderation concerns

Truth Social, the would-be Twitter competitor created by Trump Media and Technology Group, remains unavailable on the Google Play store.

www.cnbc.com

 

[mrjurrs]

Another failed venture?? I think so.
And i wont shed a tear when the cesspool is shut down for failure of payment.

HA!

Stiffed vendors, huge financial losses, and a trademark denial: Truth Social faces an uncertain future amid concerns over Trump's dwindling popularity and continued controversies

Fox Business News reported the social platform is accused of shorting its vendor RightForge of more than $1 million in contractually obligated payments.

www.businessinsider.com

The future of the former president's 10-month-old social media platform, Truth Social, is on uncertain ground as the app faces huge financial losses and is accused of shorting its vendors amid Donald Trump's continued legal controversies.

A planned merger between the Trump Media & Technology Group (TMTG), the business that created the Truth Social platform, and the special purpose acquisition company (SPAC) Digital World Acquisition Corp, has been postponed indefinitely as the Securities and Exchange Commission investigates the platform's business dealings.

SPACs like Digital World are companies formed either to raise funds through an initial public offering or for the purpose of merging with an existing company. SPACs have no other commercial operations. In an SEC filing earlier this month, Digital World said it had "neither engaged in any operations nor generated any revenues to date" as its sole purpose was to prepare to take Truth Social public.

In another filing, Digital World sought shareholder approval to delay the merger, set to take place Sept. 8, until next year, citing concerns over the former president's reputation potentially impacting business.

How little of the failure will djt pay for?

No djt fan should complain about student loan cancellation.

 

[HIP56948]

The Casino failure is the one that blows my mind.
One actually loses money by having a business plan that essentially goes like this>>
"Yes Sir, come in to my establishment...give me 100 dollars, I'll give you back 79 dollars...Thank you much..goodbye" Jesus Christ..

 

[TomFitz]

We all know that when Truth Social closes, Idiot Devin Nunes will be thrown under the bus.

I’m looking forward to that. He’ll resurface somewhere else in the reactionary right wing sewer.

 

[Rogue Valley]

And IIRC Trump bankrupted no less than 4 casinos.

 

[tres borrachos]

We all know that when Truth Social closes, Idiot Devin Nunes will be thrown under the bus.

Good. I hope he is. That's what he deserves for being a Trump Panty Sniffer. **** him.

 

[Ginger Ale]

I’m looking forward to that. He’ll resurface somewhere else in the reactionary right wing sewer.

Probably. They need a place to plan that civil war they've wanted for years, don't want all that practice in the woods to go to waste. lol

 

[Rawley]

The man bankrupted casinos.

..... ..... CASINO's!!!

..... ..... ..... ..... The business model is basically...

..... ..... ..... ..... ..... ..... People walk in and hand you their money.

..... ..... ..... ..... ..... ..... ..... ..... CASINO's!!!


WW

Ignorance is bliss

Caesars wraps up $18 billion bankruptcy case, eyes future

Caesars Entertainment Corp <CZR.O> has wrapped up the $18 billion bankruptcy of its main operating unit, allowing the casino company to focus on restoring the tarnished Harrah's, Caesars and Horseshoe brands after two years of Chapter 11 proceedings.

www.reuters.com

 

[Lord Tammerlain]

Ignorance is bliss

Caesars wraps up $18 billion bankruptcy case, eyes future

Caesars Entertainment Corp <CZR.O> has wrapped up the $18 billion bankruptcy of its main operating unit, allowing the casino company to focus on restoring the tarnished Harrah's, Caesars and Horseshoe brands after two years of Chapter 11 proceedings.

www.reuters.com

Ceasars went bankrupt because of the LBO used to buy it. The same thing that happened to Toys r US. Not because it was poorly run, it was saddled with debt to fund the purchase

 

[Rawley]

Ceasars went bankrupt because of the LBO used to buy it. The same thing that happened to Toys r US. Not because it was poorly run, it was saddled with debt to fund the purchase

.... ..... CASINO's!!!

..... ..... ..... ..... The business model is basically...

..... ..... ..... ..... ..... ..... People walk in and hand you their money.

..... ..... ..... ..... ..... ..... ..... ..... CASINO's!!!

 

[Galactic Spin]

Ignorance is bliss

Caesars wraps up $18 billion bankruptcy case, eyes future

Caesars Entertainment Corp <CZR.O> has wrapped up the $18 billion bankruptcy of its main operating unit, allowing the casino company to focus on restoring the tarnished Harrah's, Caesars and Horseshoe brands after two years of Chapter 11 proceedings.

www.reuters.com

And that was chalked up to gross mismanagement. Haha, not sure you are making the point you think you are making...

Quite the opposite, I imagine.

 

[Lord Tammerlain]

.... ..... CASINO's!!!

..... ..... ..... ..... The business model is basically...

..... ..... ..... ..... ..... ..... People walk in and hand you their money.

..... ..... ..... ..... ..... ..... ..... ..... CASINO's!!!

They do,

Only the most poorly managed ones go bankrupt

You really have to operate them poorly to have them fail. A half decent business person makes a ton of money with them

 

[element94]

The man bankrupted casinos.

..... ..... CASINO's!!!

..... ..... ..... ..... The business model is basically...

..... ..... ..... ..... ..... ..... People walk in and hand you their money.

..... ..... ..... ..... ..... ..... ..... ..... CASINO's!!!


WW

And once again Trump made out on it. It was the duped investors, betting on his business savvy, that took the brunt of the failures. As usual he used people for his own gain, and you can bet that was the plan from the beginning as it is to this day. It's still working, and now it's duped political supporters who can ill afford to waste it, because you just know, as history shows, there will be no return of any kind except to him.

 

[Allan]

From the article...

Further illuminating the social platform's financial woes, Fox Business Network reported on Thursday that Truth Social is locked in a bitter battle with its vendor, RightForge, and is accused of stiffing the hosting service out of $1.6 million in contractually obligated payments.


Three people with direct knowledge of the matter told Fox Business Network that Truth Social made just three payments to RightForge for its web hosting services and stopped making payments in March.

His usual MO. Bet Nunes isn't getting paid.

 

[Airyaman]

Ignorance is bliss

Caesars wraps up $18 billion bankruptcy case, eyes future

Caesars Entertainment Corp <CZR.O> has wrapped up the $18 billion bankruptcy of its main operating unit, allowing the casino company to focus on restoring the tarnished Harrah's, Caesars and Horseshoe brands after two years of Chapter 11 proceedings.

www.reuters.com

Isn't it though?

https://scienceblog.com/489112/trump-casinos-went-bankruptcies-major-business-america/

A new study by a Temple University professor shows that Donald Trump’s casinos in Atlantic City lost more jobs and money than competitors’ casinos, while also going through more bankruptcies than any other major business in America.

 

[Rawley]

They do,

Only the most poorly managed ones go bankrupt

You really have to operate them poorly to have them fail. A half decent business person makes a ton of money with them

LOL Don't know much about the business, eh?

Las Vegas casinos are surprisingly unprofitable

easy.vegas

 

[Nickyjo]

Another failed venture?? I think so.
And i wont shed a tear when the cesspool is shut down for failure of payment.

HA!

Stiffed vendors, huge financial losses, and a trademark denial: Truth Social faces an uncertain future amid concerns over Trump's dwindling popularity and continued controversies

Fox Business News reported the social platform is accused of shorting its vendor RightForge of more than $1 million in contractually obligated payments.

www.businessinsider.com

The future of the former president's 10-month-old social media platform, Truth Social, is on uncertain ground as the app faces huge financial losses and is accused of shorting its vendors amid Donald Trump's continued legal controversies.

A planned merger between the Trump Media & Technology Group (TMTG), the business that created the Truth Social platform, and the special purpose acquisition company (SPAC) Digital World Acquisition Corp, has been postponed indefinitely as the Securities and Exchange Commission investigates the platform's business dealings.

SPACs like Digital World are companies formed either to raise funds through an initial public offering or for the purpose of merging with an existing company. SPACs have no other commercial operations. In an SEC filing earlier this month, Digital World said it had "neither engaged in any operations nor generated any revenues to date" as its sole purpose was to prepare to take Truth Social public.

In another filing, Digital World sought shareholder approval to delay the merger, set to take place Sept. 8, until next year, citing concerns over the former president's reputation potentially impacting business.

This goes into the “why are we not surprised” file. Gotta hand it to Trump, he is relentless. Best thing about it, of course, is the name, also no surprise, as if Pravda never existed.

Though I suppose he could have called it “Me Social.”