• minibyte@sh.itjust.works
    84·
    4 months ago

    Chapter 11 is Donny’s favorite number:

    Taj Mahal, Trump University/Castle/Shuttle/Steaks/Vodka/Ice/Magazine, and now Trump Media.

      • minibyte@sh.itjust.works
        6·
        4 months ago

        I think there’s a lock out period for him following the merger but I don’t know for how long. There’s still time for the stock (DJT) to plummet, with any luck.

      • ChicoSuave@lemmy.world
        8·
        4 months ago

        I think he keeps bankrupting his companies so that he can update the list of his businesses in the book, creating new editions every few years. If you have an old copy, just burn it because the new ones are so much better with the newest info. In fact, after burning the old one, wait a bit for the new one to drop. He’s clearly getting ready to update the new one with DWAC and Trump Media.

    • kevindqc@lemmy.world
      8·
      4 months ago

      Excuse me! Trump Vodka, the world’s finest super premium Vodka, still exists in Israel!

      • athairmor@lemmy.world
        7·
        4 months ago

        It’s so fitting. Vodka is the cheapest alcohol you can make. It’s basically watered down ethanol. Overpriced vodka is so on-brand for a Trump. And he still couldn’t make a profit.

        I wonder why it still exists in Israel. I bet he sold the rights to it there and has nothing to do with the business.

  • vegeta@lemmy.worldOP
    411·
    4 months ago

    You mean advertisers aren’t climbing all over themselves to buy spots on it? Maybe the new streaming service will save the day.

    /s

  • /home/pineapplelover@lemm.ee
    201·
    4 months ago

    Iirc they only brought in like 300k in revenue. Somebody fact check me but it was definitely between 300k-400k in revenue. So that net loss is fucking insane.

    • Neuromancer@lemm.ee
      174·
      4 months ago

      It in the article

      Trump Media, which owns the Truth Social app often used by the former president, also reported revenue of just $836,900 for the quarter ending June 30, a 30% drop from the same period in 2023

        • Neuromancer@lemm.ee
          411·
          4 months ago

          If the numbers are content. That’s about 3.2 million in revenue and 64 million loss per year.

          While people want to clap over that. Many companies are not profitable their first few years.

          I work for a tech company. We are well known, bring in billions but one made a profit once or twice in twenty years.

          Prior company the same.

          It’s amazing that you can bring in billions and still not make a dime

          • Tyfud@lemmy.world
            7·
            4 months ago

            You generally don’t want losses as a business. Even a startup. Ever. You want your revenue and expenses to be as close as possible,ESPECIALLY for the first few years.

            Some insane Silicon Valley companies take VC money and operate at a massive, massive loss, banking on making that up with a spike in growth later. In most cases, it’s built into their business model that they’d be operating at a loss for X quarters.

            That’s not what’s happening here. They’re operating at a huge, huge loss, and they have no realistic business prospects for how to close that gap, ever.

            Additionally, the market leader in their space (Twitter/X), is making a hard right pivot and becoming a right wing platform/safehaven. This is further reducing an already thin market share they might have claimed.

            Purely as a business investment, if I saw these numbers, in this market condition, I would pull my money immediately. Halt all further investment. Call a board meeting. Liquidate the company to try and pay off the debts, and any proceeds are returned to the shareholders.

            I would, under no circumstances, continue to invest in a company like that, expecting any sort of return on my investment. I could only expect to lose whatever else I put in.

          • Flying Squid@lemmy.world
            5·
            4 months ago

            Many companies are not profitable their first few years.

            Especially if they’re a Twitter ripoff with one single user being the only one anyone cares about in terms of who posts.

            In fact, I’m going to make a, what I feel is pretty safe, prediction that Truth Social also won’t make a profit over their last few years.

  • werefreeatlast@lemmy.world
    11·
    4 months ago

    Just hang in there guys and keep spending. Remember it takes all the money to make all the money 💰💰! Wink wink.

  • dogslayeggs@lemmy.world
    8·
    4 months ago

    And not a single one of his unbelievably stupid fans will sell their stock in it until he cashes out in a couple months. The absolute first second he’s allowed to sell his stake, that shit’s going to crater hard with all his Stans losing their life savings.

    The real treasure was all the grifts he did along the way.

  • graycube@lemmy.world
    91·
    4 months ago

    Another example of his awesome business skills that he’ll be able to transfer to running the government. \s

  • reddig33@lemmy.world
    6·
    4 months ago

    When is he allowed to sell his stake? I seem to recall there was a time limit after going public.

  • affiliate@lemmy.world
    1·
    4 months ago

    this seems like the perfect time to launch a streaming service, those things tend to be very profitable