They do have a unique level of access to a userbase that will believe absolutely anything you tell them.

“Here’s a piece of paper that says you own gold. That will be $2,000.”

Imagine if Facebook or Google tried to sell investors on that sort of nonsense...

But you have to understand that this is the crème of the crème of society.

And it is just a fork of Mastodon. Wall Street is fucked up.

lemmy is slowly catching up at 46k monthly active users, according to this: https://fedidb.org/software/lemmy

You are comparing a daily active users figure to a monthly active users figure. Truth Social has closer to 2 million active users overall, but only 100,000 on a given day. It’s still really low for a social media company with such a popular public figure at the forefront, but it isn’t lower than Mastodon. The valuation is absolutely absurd regardless as there are so many red flags in their own SEC filings.

While I don't disagree that Truth Social is wildly overvalued and compares poorly to many other social media networks, daily average users and monthly average users are two different metrics. You can't directly compare them; daily average users will be a number smaller than monthly average users for a given network.

Add to it that Truth Social is actually running on Mastodon software.

Money laundering

Let's say you're an organization (or foreign actor) who wants to get as many no-strings-attached dollars into Trump's hands as possible. You can't do that through campaign donations because those are watched way too closely. You can't just cut him a check, because that looks suspicious too. What you can do however is buy stock in the company he mostly owns, and inflate the stock price as much as you want.

Yeah also why the hell do they show up at the courthouse every single day after the trial and let him spew his lies? They don't do that for other people on trial they just report what happened. Why does he get to make it a campaign speech?

Well, you were technically wrong, there are more shares of RDDT than DJT, so even though RDDT is cheaper per-share than DJT after yesterday's close,, RDDT's total market cap is about $1B higher.

Still no reason for a ban. Now that RDDT is publically traded and has a much higher profile, I wonder if some enterprising lawyer can figure out a class action lawsuit against Reddit for all the people who were banned from the site for bullshit reasons. You'd probably have to prove some actual harm, though. Most Reddit bans only hurt your pride.

He was bailed out, again.

He was already bankrupt before running for presidency and Russia bailed him out.

Now he is being bailed out by China.

Probably, to be honest. Though of course that doesn't speak to the quality of its content.

You're saying that people who vote for him should create accounts? I mean, I don't think that that is all that surprising. I might vote for Biden over Trump because I prefer him as a president, but if Biden starts a social media company, I'm probably not gonna go move my social media activity there.