Company also announced a paid service for early access to president’s posts on policies to the social media site
Donald Trump’s media company – which owns the Truth Social platform favored by the US president – posted a $238m loss in the second quarter.
Trump Media & Technology on Monday reported that losses in the three months through June came as the company branched into new ventures including crypto. The company’s new chief executive, Kevin McGurn, announced at a conference call about the earnings that after a yearlong effort to expand into online betting and crypto, the company would be refocusing on social media.
When sensible people look at service things like the post office and the library, it’s understood that profit should be negative with revenue being zero. It’s a service already being paid for.
When a dictator looks at a propaganda machine, they understand losses are acceptable when it’s used to make billions elsewhere and gain control.
Right? He made 2 BILLION (that we know of), just last year. Losing $238M on this, even assuming all 238M of that is coming out of his bottom line?
BFD.