sorry about the picture. cw for vulgarity? comes with the article. I started this group tracking this abortion of a business. waiting for it to drop below a dollar. how it keeps afloat is annoying af. Article gives a few details but feels like a slush fund propped up by his 'friends'. When TS started it was built on an early version of mastodon, iirc. That was how I got interested in fedi, I think. crash and burn

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30 comments in c/news@lemmy.world view that post
[–] [S] 65 points 2 days ago (15 children)

Truth Social isn’t a social network anymore. It’s a Bloomberg terminal with a presidential panic button. Wall Street pays up to $100,000 a month to hear Trump before everyone else, while crypto holdings do the heavy lifting on the balance sheet. Turns out the most valuable speech on the »free speech« platform is the kind sold to the highest bidder.

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  • [–] 17 points 2 days ago (10 children)
  • [–] 20 points 2 days ago (8 children)

    It's true, asphalt as I can tell.

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  • [–] 16 points 2 days ago (4 children)

    What do y'all mean, pacifically?

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  • [–] -1 points 2 days ago* (last edited 1 day ago) (3 children)

    Honest question here: did you miss that it was created for Trump to spread his truth?

    It never was anything else.

    (I am baffled that this could be understood as pro trump. Wow. Disclaimer: his truth is for his gains, with whichever means.)

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  • [–] 3 points 1 day ago (1 child)

    It never was anything else.

    Bullshit. If it "never was anything else", why is he charging for early access to posts?

    It is very clearly being used for corruption. Quit pretending is isn't

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  • [–] 2 points 1 day ago

    I think we have a slight misunderstanding here.

    His truth, the truth of a corrupted paedophile criminal narcissist is.. Making money (aka corruption) of course. It always was. And that is his truth.

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  • [–] 15 points 1 day ago

    Why is that article trying to hand waive corruption?

    It does have one thing going for it: customers dumb enough to pay top dollar for slightly faster access to the president’s posts

    The president's posts move markets. Advance access to that information is worth a lot of money. Selling access is corruption. This article wants to convince us it isn't

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  • [–] 28 points 2 days ago (9 children)

    $60,000 and $100,000 per month

    🫪

    A fool and their money are soon parted.

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  • [–] 19 points 2 days ago (4 children)

    Well, finance bros gonna finance bro, like it or not, the US presidents words directly effects markets, and any advantage in getting the words will pay off significantly, especially with the potus being as volatile as Trump is.

    As he keeps shifting his public opinions, on random whims traders can really play the shortgame and win with the quicker access to his latest feverdream

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  • [–] 10 points 2 days ago (3 children)

    Which is why preferential access to presidential communications is straight up unconstitutional and a violation of the first amendment (equal access to public announcements).

    Of course trading firms are going to look for any edge they can. It'll still be an advantage until (or if) it gets struck down by the courts.

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  • Trump needs to be in jail for like a million things at this point, but these companies should be on the hook for insider trading or something. Pretty sure if a politician came up to you and offered you early info for a price and you made stock trades based on that you'd be held responsible. They need a fine so big it bankrupts them and no other company dreams of doing that again, even if offered.

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  • [–] 5 points 1 day ago (1 child)

    The only fools are the ones not realizing the value of that access

    They're making a whole lot of money trading with that information. It's blatant corruption and ignorant people are going around calling them "dumb" and "morons" making millions

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  • [–] 12 points 1 day ago

    Call it what it is, it's blatant insider trading.

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    [–] 10 points 2 days ago

    lol, that's the actual title.

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  • [–] 7 points 2 days ago

    This timeline makes me want to slap a donkey.

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  • 6 comments in c/FuckTheUSA@lemmy.ca view that post
    [–] 37 points 16 hours ago (2 children)

    Anti clickbait:

    The gains primarily came from its so-called “Truth API,” a feed that gives early access to posts by certain accounts — and let’s be real, people are paying for Trump’s — for the price of between $60,000 and $100,000 per month.

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  • [–] 3 points 13 hours ago (2 children)
  • 2 comments in c/financ@midwest.social view that post
    [–] 5 points 2 days ago*

    futurism needs to cut it tf out with the clickbait-y headlines

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  • [–] 4 points 2 days ago

    I'll save you the click: People are paying for advance access to Trump's posts.

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