Tuesday, October 26, 2021

Trump's Media Empire - DWAC.O

Digital World Acquisition (DWAC.O) is a Miami-based special purpose acquisition company (SPAC) that plans to publicly list Trump's new social media venture. TRUTH Social is set for a beta launch next month and full rollout in the first quarter of 2022. SPACs allow private companies to publicly list their shares while sidestepping traditional initial public offerings. The deal, as it sits, is appearing a slam dunk short. Market cap is something past $3b.
Trump declared he would launch a “media powerhouse”. Within hours, hackers posted a picture of a pig taking a shit to the “donaldjtrump” account. The site, called Truth Social, has been taken offline. Banned by all major social networks after his minions stormed the Capitol, Trump has agitated to regain his online megaphone. The Trump media, news and Internet empire would one day compete with CNN, Disney and Facebook Trump predicted.

The site is a Twitter clone: users can post Truths, which are like tweets, or Re-Truths, which are retweets.