Originally published at: Trump's Truth Social tries to pitch losing funding as good news | Boing Boing
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… for what though — what capital assets was that money supposed to pay for 
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Venture Capital is for building and running the business. I’d assume that once funded with these hundreds of millions they’d pay it to Trump somehow.
VC makes dreams come true, or so they tell us.
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… sounds like a lot of money to build and operate Trump’s personal blog 
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Unfortunately, there are way too many rubes who will pay good money for that.
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Wait, wait, wait… A venture Trump is involved in gave money back to investors?!?
That doesn’t sound right. How on Earth did this happen?
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So much cocaine.
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So it turns out that giving conservatives all the space they want to congregate is not good enough for them because what they actually enjoy is acting like assholes to others online?
Who would have thunk it?
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At least it makes them easier to ignore or block.
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A SPAC is an investment vehicle and it is public. You raise money and then decide what to spend it on. Used to be associated with a lot of sleezy deals and had a resurgence recently, fueling some merger and acquisition activity. Used to be called a Blank Check company.
From the quote, sounds like the SPAC couldn’t get comfortable with the investment and pulled back. And when a SPAC doesn’t invest in a given amount of time, or under certain conditions, the capital is returned to the investors and the SPAC goes away.
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The SPAC was formed so that Trump & Co could invest and then cash out when the takeover of Pravda Social was done. What the SPAC became “uncomftable” with was outside investors finding out they had been arranging the deal before they were legally supposed to, and then bailing in droves.
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Thanks for the facts!
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