Huh, 60 million dollars loss a year to almost 330 million loss per quarter.
Quite easily. It seems that, like before, the money is mostly going to “liabilities,” previously the debt incurred in setting up the company (i.e. gift to Trump and his cronies), and now presumably the additional debt added by the media holding company buying (sorry, “merging” with) Trump media. This suggests every quarter will see similar losses, so they’ll lose more than a billion dollars a year on less than four million dollars of revenue (which will probably decline, if anything).
It couldn’t be any clearer that all the money put into the company has been an attempt to channel money to Trump and his cronies. That there’s anyone out there who can’t see what a transparent scam it is…
The entire company exists as a financial crime, so yeah, I hope they only start with that.
In some ways, the opposite - it has high losses because of a crazy amount of debt; it has a crazy amount of debt because of (multiple rounds of) insane amounts of money being pumped into what is essentially a fake company (with a figleaf social media service to make it look legit). If no one goes to jail for this, it’s actually a sign of competence.
The company is a stack of grifts, but these aren’t running costs, mostly. (Even hugely inflated, they couldn’t get that high.) It’s paying off debts, which are a completely different set of scams…
Until they realize their retirement investment is worthless… I really think a bunch of MAGAts really believe this is a real business worth a lot of money that they’ll get rich investing in. (There are also cynical investors just looking to make money by selling to true believers.) I frequently see interviews at his rallies where people say they think he’s a brilliant businessman who wants to make them rich too. Trump followers may know there’s a con, but they always think they’re in on it.
