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.
It doesn’t need to make money any more (if it ever did), it’s a “loss leader” of sorts; it’s lube, to keep the other grifts going which he now makes far more money from.
I would make fun of the guy for not even being able to make a bribery scheme unprofitable, but I’ve never been more certain that the losses are on paper only for tax and creditor purposes.