Trump Media shares fall 7% after saying Truth Social to launch TV streaming platform
Trump Media shares fall 7% after saying Truth Social to launch TV streaming platform
Trump Media shares have plunged in the two days that Donald Trump has been in a New York court for jury selection in his criminal hush money trial.
Please! I can only post Riker so many times before it starts turning into a thing like beans did a while back!
You love to see it
Gah, I can hear that sour note
Twitter for Nazis was never a viable business model. Neither is Netflix for Nazis.
NRA already had Netflix for Nazis for a while. It didn't go well.
Trump TV can recycle the same content.
Trump TV can recycle the same content.
Human centipede style?
"I just don't understand. Twitter did well. Netflix did well. What's so different about our platforms?" - some stupid fucking nazi.
Mastodon for Nazis, actually.
From what I've heard lately, Twitter is Twitter for Nazis.
And do they look like they still have a viable business model?
Someone tell Daily Wire that.
So, Republicans are against state-owned media, but have no problem when the President owns a media platform? Because that's what this is turning into. MAGAs are going to get their Three Minutes Hate (since three is more than two, so it's better) directly from their Dear Leader, without any other opinion getting in the way.
Ah yes, the good ol' pivot to video. https://en.wikipedia.org/wiki/Pivot_to_video
From the wiki page:
only advertisers, not consumers, prefer video over text.
This is so goddamn true it's not even funny. One thing in particular that really pisses me off is when I'm looking for a relatively simple piece of information, like how to beat a level I'm stuck on in a game, and every single result is a 15 minute video I need to scrub through in order to find the same information I could have scanned a text block for and found an under a minute.
At a large technology conference I attended recently I saw a demonstration where the URL of the video was handed to an AI bot. Some very detailed prompts for requests for information were given to the bot and it pulled out all the info the user requested.
So maybe we'll have ubiquitous AI to do the scrubbing for those 5 second answers now buried in 15 minute videos.
Or game completion guides that insist on using 10 minute video clips instead of just putting a mark on a map.
I have a related thought. A lot of people are not good at reading. Those people are underrepresented on a text platform like this, but they're out there.
Something like half of US adults cannot read at an 6th grade level. ( https://www.apmresearchlab.org/10x-adult-literacy )
The us' education system is spotty. That doesn't help. There's also a long podcast about how reading is often taught badly: https://features.apmreports.org/sold-a-story/ (yes, it has a transcript)
But there are probably a lot of people who secretly sigh with relief when they find that five minute video instead of the two paragraph answer. They legit struggle to read it, and that's uncomfortable and embarrassing.
Makes you wonder how much google search getting shitty enhances their YouTube profits.
Every single Adobe tutorial ever. Why the fuck do I have to scrub through 30 minute videos to figure out where the fuck they moved some feature to after the last update?
Unfortunately written walk throughs are often terribly written and the pictures are usually a fucking mess.
This might be part of why The Other Site became the de facto place for text-based discussion of niche interests.
I doubt this was the reason. It's not stopped plummeting since day one.
Why on earth would running a service that actually costs money be a good idea for company so deep in a hole on a webservice that's comparatively free to run.
You’re expecting logic from a company that’s being run by idiots, grifters, and idiotic grifters?
It's almost definitely a bogus or halfhearted announcement to pump the stock price. Announce a new service to make people think that there's some future SOMEWHERE for big profits. Like you see Musk doing (recent 8/8 announcement for Tesla) for example.
In this case specifically to preserve a Trump payout.
And...It did not work.
If I had extra money to short a stock I would have gone all in when the stock got around $80. What an obvious meme stock.
This is where Fox News stop backing him.
To be completely fair it’s been a shit week for the markets. Literally all of my holdings have been negative, including enormous ETFs with decades of consistent growth. This isn’t to say that Drump’s stock is doing well at all, just that this immediate 7% loss is more indicative of larger market trends than anything I’d reckon.
It definitely exceeded the overall market drop. Ended down 14% today alone.
Yeah, shit, I’m actually only down <1% today. This is why I’m just some schmuck throwing money around instead of a real investment banker lmao
Can someone ELI5 why launching a streaming platform out of all things is causing the stock to drop?
Probably because of expected expenditures; creating and hosting a streaming platform isn't cheap, and if you have a company that already seems to be floundering, announcing "we're going to spend a boatload of money we don't have" doesn't instill confidence.
It's probably unrelated. The stock dropped before and after the announcement.
Video hosting is wildly expensive and unprofitable. Even Youtube, by far the most successful video hosting platform on earth, backed by the technical giants at Google, who literally own a "make money on the internet" engine, lost lots and lots of money for a decade.
Its not a good buisness to get into if all you have experience with is a Mastadon fork where you already spend 50mil/yr to make 5 mil/yr.
An old Stock Market adage is "Buy on rumor, sell on news". It's possible that some people were anticipating a larger announcement, and sold when they saw what the announcement actually was.
Or, it just went down because it is a bad stock to own, and it's just a coincidence there was a press release at the same time.
Guess they don't have the cash to buy Rumble.
I'm expecting banned.tv to be up for sale soon!