Former President Donald Trump has sued the co-founders of Truth Social, alleging they mismanaged the social media platform early on and should therefore lose their stock in the company, which recently went public.
If mismanagement is enough to prevent someone from owning stock, Trump should not own a single share of anything.
If mismanagement is enough to prevent someone from owning stock, Trump should not own a single share of anything
I agree, though this is par for the course as Trump behavior goes. He's got a long history of doing shady shit, screwing over partners and vendors.
I'm glad that people are learning the hard way not to trust him, although I would've preferred it if they had listened. I'm enjoying this shit show!
i almost feel bad for these guys.. but i dont. its common knowledge that no good comes from going into business with trump
Yeah, I feel nothing for these people. They knew he was a snake when they took him in.
Each one of Trump's business partners thinks "I'm not gonna get screwed by this guy!" and in the end each one of them does.
My thoughts on the matter.
I don't feel bad in the slightest. Everyone knows Donald is a sociopathic grifter. These guys wanted to run a con with him and got burned. I hope their lives are full of misery.
In fact, they specifically targeted that demographic. They put their face inside a starving leopards mouth
Except me. Right? He totally promised to make me president of Puerto Rico.
Because I'm one of the good ones.
I'm the exception.
Right?
Pretty much. What do you expect?
I was going to ask which one of these people is the biggest idiot and then I realized the answer was yes.
One if those "Never go in with a Sicilian when death is on the line" scenarios.
/hahahahaha---
He's been defrauding contractors, backstabbing, and throwing people under the bus for decades. Even a grifter would have to be high as fuck on pure greed to have any business interaction with Donald.
It's hilarious that these scammers also received an inevitable betrayal. I hope they lose all their money and the stock crashes before Donald can get anything significant out. What a delight to see any of these lying con men lose it all.
May their court battle be drawn out and their legal bills astronomical. They deserve it. All of them.
But the leopards absolutely weren't supposed to eat their faces!!
Yes, truth social is completely impossible without trump. Nobody could possibly spin up a mastodon instance without a former president backing you. Just absolutely unheard of.
I mean the fact that they managed to run it in a way that was illegal was pretty uniquely impressive.
What's the background there? Illegal...?
Trump should sue himself for being a dipshit
I was going to comment that he'd win at that at least, but for some reason I think he'd fuck that up too.
He tried but his best lawyers messed up the paperwork.
"Without Mastodon , Truth Social would have been impossible," the filing should have said said.
Why's that?
It is literally a Mastodon instance with no ActivityPub federation.
That's awesome. They had no significant development costs and still racked up a $15m loss in the last year. Yep, definitely a Trump enterprise.
That's because they have no revenue and significant operating costs. Turns out there's not much money to be made in providing a platform to Nazis and conmen. There are all the MAGA idiots on there, but what little wealth they have has already been tapped out by the dick pill salesmen, their pastors, and Trump himself (plus whatever the latest pyramid scheme they've signed up for this week is peddling).
So Trump Media is operating on a revenue stream of 4 million a year, and is reporting a yearly loss of 58 million. How the fuck is that company's stock rated at $60/share?
It's a vehicle for trump to accept foreign money, that's how.
Money laundering
Tax fraud.
Well first, throw logic out the door and you’ll come by your answer a little easier. hint, it’s because of capitalism.
I wouldn't be surprised if it's just like essentially "Trump Bitcoin." Effectively worthless but he's got a gigantic pool of people who will throw money at him.
Share price has never really been a representation of company health. Shares are traded at what people will buy them for. There also may be a lot of short selling going on waiting for the plummet.
He is in a legal battle every day of the week and GOP voters are like damn this guy is fit to be President again.
Breaking news: People who cozy up to face eating leopards will eventually get their faces eaten. More at 8.
A trump never pays his share
Every one of these people:
Wait until all the rubes who bought stocks find out that they're next. The fine print actually says that your stock purchase is actually just a non-refundable donation to the Donald J. Trump legal defence fund.
he wakes up in the morning, looks in the mirror: "so who are we screwing over today"
Who knew that a renowned ruthless bastard snake oil swindler, and sexual predator, would be a bad person to get in to bed with.
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.