12 daysThe point of the company was not to profit but to broadcast the grift which is where all the money ends up. The “truth” loses money but the gaslit minions fund the idiot.
- gnutrino@programming.devEnglish12 days
Also to act as a vehicle for “investors” to funnel money to the president.
- CosmoNova@lemmy.worldEnglish12 days
Yup. Trump wasn‘t a billionaire, let alone a multibillionaire a decade ago. He got almost all of his current fortune from bribes, extortion and his useful minions.
- kbobabob@lemmy.dbzer0.comEnglish12 days
I just read that idiots gave him 60 million for a phone that they will never get. But refunds! Nah, they changed the terms recently so that won’t happen.
TMTG is also active in financial services, and the company announced US$2.5 billion in funding a year ago to invest in cryptocurrencies, one of Trump’s recent passions.
According to its filing, TMTG generated US$900,000 in revenue during the first quarter, a paltry amount for a company valued at US$2.47 billion on the stock market.
And suspiciously interesting,
TMTG said in December that it is merging with the American company TAE, which is developing nuclear fusion technology.
- manxu@piefed.socialEnglish12 days
The part about TAE is devastating, as a lot of people had high hopes they would come up with a fusion reactor. Them being sold to TMTG probably means it was BS all along.
- Ludicrous0251@piefed.zipEnglish12 days
Promising a technology that has yet to be proven at any useful scale in even the most sophisticated labs is a big red flag in my book.
- manxu@piefed.socialEnglish12 days
Absolutely. But the founders are heavyweights in the field and I had hope. I guess it’s cold fusion two, too good to be true 😭
- tempest@lemmy.caEnglish12 days
There is very likely some sort of energy grant that they are going to get to ‘research’
- IratePirate@feddit.orgEnglish11 days
Maybe somebody should tell this more-than-once bankrupt dipshit that you can only make use of tax deductions if you’ve made some profits.
- 12 days
Billionaires will still keep it afloat. They recognise the importance of media for mass indoctrination. Like with investing, they diversify. Even if one asset is not making money, there are profitable assets they could take money from to keep underperforming assets going because the latter has intangible value to the owner. Twatter isn’t even making money for Musk, but that doesn’t matter, it is its intangible value as propaganda which is important for him and other billionaires.
Whatever’s happening here isn’t actual loss. It’s surely, 100% some kind of grift.
- Spice Hoarder@lemmy.zipEnglish11 days
Social media sites are kinda like casinos, the house always wins. But somehow Trump still managed to find a way to make it unprofitable.
TMTG said in December that it is merging with the American company TAE, which is developing nuclear fusion technology.
From crypto scams to nuclear fusion; what can go wrong?
- village604@adultswim.fanEnglish12 days
what can go wrong
Honestly, with the current state of fusion technology, nothing. The worst that will happen is they damage expensive equipment.
- SCmSTR@lemmy.blahaj.zoneEnglish11 days
Ever notice how conservative companies that deal with information don’t need money?
TMTG is also active in financial services, and the company announced US$2.5 billion in funding a year ago to invest in cryptocurrencies, one of Trump’s recent passions.
But the plunge in digital currencies hit this part of the business hard as the price of Bitcoin tumbled from over US$126,000 in early October to below US$70,000 in March.
It has since rebounded somewhat to over US$80,000.
Because the company is required to reveal the value of its investments, even if it hasn’t sold them, it recorded a loss of US$406 million for the first quarter.
“The vast bulk” of the loss was due to digital assets, the company stated.
So the parent company is also a crypto bank that lost value when their crypto lost value. Just another kind of grift.
- Greyghoster@aussie.zoneEnglish11 days
Another scam? Companies loose money for tax purposes as seems to be the case for all of Donny’s ventures. Except when they actually loose money which is regularly.
- plz1@lemmy.worldEnglish11 days
It’s DJT, or course it’s a scam. Just like how the company will somehow be ultra profitable next time they need to quality for a high risk loan (his lifelong playbook).
