5 ms·
Trump’s Truth Social is worth over $10B and it’s basically a mastodon instance
by drexlspivey 5y ago
Trump’s Truth Social is worth over $10B and it’s basically a mastodon instance
- pjc50 5y ago[citation needed]
- drexlspivey 5y agohttps://www.vice.com/en/article/5dgm5k/truth-social-is-mastodon-trump https://www.vice.com/en/article/5dgm5k/truth-social-is-masto... https://www.theverge.com/2021/10/22/22740354/trump-truth-social-network-spac-mastodon-license-software-freedom-conservancy https://www.theverge.com/2021/10/22/22740354/trump-truth-soc...
- dagw 5y agoTrump’s Truth Social is worth over $10B Source? While it was apparently over $20B at the peak of its value, according to https://www.cnbc.com/quotes/DWAC https://www.cnbc.com/quotes/DWAC it seems to currently be bellow $2.5B
- bpicolo 5y agoThey SPACd before launching a product? Jeez.
- colinmhayes 5y agoMatt Levine was having a field day
- missedthecue 5y agothat's most SPACs.
- drexlspivey 5y agoThat’s just the float of the SPAC, the merger didn’t go through yet. The prospectus says that after the merger there will be 193.4 million shares outstanding so multiply 193m with the stock price to get a pro forma market cap of $11+B
- ehnto 5y agoWhich goes to show that none of these social media companies are built on inimitable technology dominance, there is no technology moat, only a network moat.
- ece 5y agoI suppose losing the network moat through decentralization, bad PR and/or anti-trust would be something to worry about then.
- riffic 5y agoyou're using a very generous definition of the word "worth" here.