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Trump is booted off Bloomberg’s Billionaire list after Truth Social stock price dives
(www.independent.co.uk)
this post was submitted on 10 Apr 2024
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The market cap for Truth Social is $4.5B, which is fucking bananas when you consider that this is a home-rolled Mastadon instance that hasn't even been patched since 2022.
I'm not saying Trump is a billionaire, or even a good businessman, but holy shit how crazy is it that people are trading $35/share for something their grandkids could put together over a long weekend of free time?
Seems like a good way for people to slip money into Trump's accounts without the regulatory oversight of a direct gift or donation.
That's one perspective. Another is that he's tapping into a rich vein of WSB-tier suckers.
I'm not sure there are that many suckers. Trump's campaign has bled his supporters pretty hard, they don't have billions to invest. And serious speculators ought to know it's not worth shit, unless they're just riding the idiot wave. I suspect there's something fucky going on.
Trump got his $175M civil bond paid by a single California billionaire auto-loan shark, Don Hankey. I just don't think you understand how deep the well goes, when it comes to right-wing suckers and fascist fellow-travelers.
I have no doubt there's fuckery going on. Probably layers of fuckery, as speculators pile on top of boiler room penny stock hustlers to goose the price of this golden turd. But if there's one thing I've learned from the Bitcoin con-job, its that if you inflate an asset's value high enough, you can eventually off-load it on the public sector by claiming "this will create economic growth".