Donny Tied To Wuhan. Woo-Hoo!!

[jaF0]

https://www.salon.com/2021/10/21/inside-the-weird-world-of-dwac-already-soaring-social-media-spac/

"Patrick Orlando, the firm's CEO, appears to be a SPAC veteran whose most recent offering is Yunhong International, another blank-check company located in Wuhan, China."

 

[ll74]

Steve Bannon has financial roots everywhere bad
....Trump and he are besties (right now)


Not a shocker

 

[butters]

just another trump 'get rich quick' scheme for himself and a few inner-circle buds, with a looming big 'fuck you' to the smaller investors

Trump himself will serve as chairman of TMTG, which is also planning a video-on-demand streaming service, TMTG+, and a news network, TMTG News, according to a public pitch deck obtained by Salon. The slides contain a number of lofty plans for the company to disrupt the business models of any number of perceived competitors, from Netflix to Disney to Twitter and Facebook, but notably did not include any financial projections or information on corporate structures, which are usually a part of such presentations.


It's also important to note that a key feature of SPAC deals are the unique incentives that protect company insiders while other investors bear much of the risk if a deal fails to garner expected returns.

Trump's last publicly traded venture, a casino company called Trump Entertainment Resorts, also ended in heartbreak for investors after it lost hundreds of millions of dollars in just over a decade, a period during which it filed for bankruptcy numerous times. Though if the past is any indication, Trump will likely come out on top — Fortune Magazine reported at the time that he earned more than $82 million from the company before it went bust.

https://www.salon.com/2021/10/21/inside-the-weird-world-of-dwac-already-soaring-social-media-spac/

 

[pecksniff]

He just needs to post a picture of himself eating sweet and sour pork. Damage control. Like the taco bowl.

 

[Fuzzy1975]

Seems like a great place to launder money too.....

 

[butters]

major investor in Digital World pulls finances after hearing it will merge with trump media and technology, unwilling to bankroll trump's 'truth social' media plans

hedge fund manager Boaz Weinstein, according to the New York Times, withdrew his investment after learning that he would be supporting Trump's social media company Truth Social.

Weinstein told the Times, "Many investors are grappling with hard questions about how to incorporate their values into their work. For us, this was not a close call."


SPACs go public first and raise money from investors with the goal of finding a private company to merge with. Those investors have no clue about what that merger partner will turn out to be."

According to Enrich, Goldstein and Goldmacher, "Mr. Trump's new company, Trump Media and Technology Group — incorporated in Delaware in February with little fanfare, and with no revenue or tested business plan — reached a deal to merge with Digital World on (October 20). Digital World, which was set up shortly after Mr. Trump lost the 2020 election, last month raised nearly $300 million, largely from big investors. Assuming the merger is consummated, that money will soon be bankrolling the Trump media venture, which plans early next year to offer a Twitter-like social media app."

When Boaz's company, Saba Capital, found out what Truth Social was, it wanted nothing to do with it.

HuffPost's Ed Mazza notes that according to Financial Times, an unnamed investor — upon learning what Truth Social would be — pulled out immediately, and it is unclear if that person who spoke to Financial Times was Weinstein. The investor is quoted as saying, "The idea that I would help (Trump) build out a fake news business called Truth makes me want to throw up."

https://www.alternet.org/2021/10/major-investor-refuses-to-bankroll-trumps-fake-news-business/?