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I disagree. Short- and medium-term advertisers don't matter. There's no user / consumer base now to draw in serious advertisers.
What $DWAC / $TMTG needs first is a good technology base and tech stack. Without the ability to sustain its own webhosting services, domain names, etc. the entire company remains at risk of being deplatformed.
Consider the tech stack the supply chain, social media and other sites the tip of the media output spear, and advertisers then reaching a conservative user base to generate product and services sales (end monetization).
$DWAC / $TMTG owning and operating its own tech stack is the real success key. It allows $TMTG to then later operate its own social media platforms without the possibility of being deplatformed as happened to Gab in October 2018 by Azure, and Parler in January 2021 by AWS.
I guess also $TMTG's tech stack could also be leased to other new social media market entrants.
$DWAC has a broad range of competitors according to this article:
With the pending merger between $DWAC and $TMTG, Trump’s new social network, Truth Social, is inching closer to reality. This company has huge digital media ambitions and seeks to take on multiple fronts at one time.
TMTG is laying out plans to compete with some of the biggest names in media, including CNN and iHeartMedia (NASDAQ: $IHRT). The company will be launching a streaming service called TMG+ and an internet TV channel that offers original programs not available on any other platform, all aimed at taking away from Netflix’s (NASDAQ: $NFLX) dominance. They also have their tech stack, which competes directly against Amazon (NASDAQ: $AMZN) and their Amazon Web Services (AWS), Alphabet’s (NASDAQ: $GOOG, NASDAQ:GOOGL) Google Cloud Platform and Microsoft’s (NASDAQ: $MSFT) Azure.
https://finance.yahoo.com/news/dwac-meme-stock-phenomenon-no-160817885.html
MyPillow may not even be a material advertiser in $TMTG / $DWAC in even three years.
However whether they are or not, it would behoove companies to advertise to their prospective buyers and conservative consumers are a focused target market. But say XYZ corporation decided not to advertise, they cede market share, revenue, and maybe profitability.
What Trump is doing is channeling conservative voices via market economics. Some will bet there's no demand for conservative focused marketing, others will disagree.
To address your point via how I perceive this, MyPillow is carving an early niche in conservative consumers consciousness. That type of market based economics and marketing can't be stopped.
Truth Social will need to compete with other conservative or right-of-center social media and media sites. But having said that, there's a limited market and lots of conservative. Should mean lots of revenue for $DWAC / $TMTG.
Contact your broker and ask them for the form to write it off as a worthless security. May cost anywhere from $5 to $30 depending on who your broker is.
You can also do it yourself:
Report the valueless stock in either Part I or Part II of Form 8949, depending on whether it was a short-term or long-term holding. If an asset became worthless during the tax year, it is treated as though it were sold on the last day of the year. That could affect whether your capital loss is a short- or long-term one.
For additional information, check out Chapter 4 of IRS Publication 550, Investment Income and Expenses.
https://www.bankrate.com/finance/taxes/writing-off-a-worthless-stock.aspx
Report the loss on the appropriate section of IRS Form 8949. If it's a short-term loss, it goes in Part I. Report long-term losses on Part II. You need to report your basis -- what you paid for the stock -- as well as when you purchased it. Under the "Proceeds" column, write "Worthless."
Total your worthless stock as well as your other gains and losses and transfer the totals to Schedule D. The short-term gain and loss totals go in Part I and the long-term gain and loss totals go in Part II. Then, in Part III, you figure your total capital gains and losses.
Report your net capital gains or losses from Part III of Schedule D on line 13 of Form 1040. If you only have losses, your deduction is limited to $3,000 ($1,500 if you're married filing separately), but you can carry forward the excess losses to the next tax year.
https://pocketsense.com/write-off-worthless-stock-8009.html
Acquisition of a print media company, social media company, and TV channel.
$0.000001 is the lowest a stock can go. But this was done by a market maker, not retail.
Happy Thanksgiving to all $DWAC shareholders.
The trial for defendant Schena has been set for November 30, 2021 at 1:30 PM before Judge Edward J. Davila in Courtroom 4 of the Robert F. Peckham Federal Building & United States Courthouse 280 South 1st Street, Room 2112 San Jose, CA 95113.
https://www.justice.gov/criminal-vns/case/Arrayit
Probably everyone wishes their lives were trashed with millions stashed somewhere LOL LOL LOL
Can Rene be compelled to say anything?
I'm a little surprised $ARYC isn't anchored at $0.000001
The mods cleared out the misinformation about $ARYC.
Next stage will be to post accurate information on the lawsuits.
Massively overvalued even at $0.0003.
Shouldn't the iBox be remade with the litigation proceedings? Its not like $ARYC has any actual operations.
Boot? No. but $DWAC can cause $TWTR a lot of financial pain.
Just look at TMTG a place that conservative viewers will use and understand they will leave $TWTR in the process. Same applies broadly to $FB.
Truth Social’s Place in the Social Media IP Landscape: Explained
A contrast between the terms of service of former President Donald Trump’s new social networking service Truth Social and those of other platforms provides a window into how platforms approach user intellectual property in a world in which sharing content is easy and protecting it is hard by design.
Truth Social plans a national rollout in early 2022 as an alternative to Twitter Inc. and Facebook Inc., which banned Trump after the Jan. 6 insurrection. Truth Social and the Trump Media & Technology Group were created “to stand up to the tyranny of Big Tech,” Trump said in an Oct. 20 statement.
The terms of service for Truth Social raise questions about how it wants to fit in the pantheon of social media platforms. The IP guidelines for Trump’s platform struck some copyright attorneys as simultaneously ambiguous, overreaching and in places unenforceable. Several attorneys said the terms appeared cobbled together from various other social media sites and beyond, and raised concern over user rights as currently worded.
(1) Who owns rights to social media posts?
Terms of service for large social media platforms like Twitter, Facebook, TikTok, YouTube, and Instagram generally grant the platform a non-exclusive license to any intellectual property that users post. Twitter, for example, says users grant the service “a worldwide, non-exclusive, royalty-free license (with the right to sublicense)” anything users post.
That contractual agreement plus the safe harbor protection in the Digital Millennium Copyright Act provides platforms broad protection against infringement claims. The DMCA shields the sites from liability for user actions if the platform provides proper mechanisms for rightsholders to alert them to infringing content so they can review and remove it.
Attorneys also say there’s little users can really do to avoid granting the license other than not post. But they also say it’s generally just not in the site’s interest to do more than host the content, as the vast amount of it would be impractical to manage.
“They want that license to use everything you post. It’s necessary for them to function. But they don’t want to own the copyright,” copyright attorney Mark Jaffe of TorMark Law LLP said.
(3) How is Trump’s site different?
A “submissions” section of Truth Social’s terms of service grants the platform “exclusive rights” to “any questions, comments, suggestions, ideas, feedback or other information regarding the site.”
Attorneys weren’t sure if that was meant to cover user posts, the rights to which don’t appear governed elsewhere. But even if Truth Social wanted to own the copyrights—and therefore the right to block even a creators from using their work—that may not be enforceable, Jaffe said. The Copyright Act says transfer of ownership of a copyright “is not valid” without being “in writing and signed by the owner of the rights.”
Attorneys said the submissions language didn’t mirror that of other platforms’ user post clauses, but instead resembled policies of media companies guarding against accusations of stealing unsolicited ideas or pitches.
“It looks like someone at Truth Social found one of those and thought ‘this is the copyright policy’ without actually understanding that there’s a difference,” Jarvis said. “So I’m pretty sure that’s what happened, and they just didn’t realize it.”
Copyright attorney Judy Endejan of Endejan Law LLC agreed, and added that the terms of service are “obviously designed 100% to protect the Trump site” over users. She noted that while users surrender all rights to submissions, the site has an emphatic section protecting its own IP, and other sections that allow it to terminate user accounts for a wide range offenses.
Users, for example, agree not to “disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site,” which attorneys said seemed at odds with the site’s no-holds-barred free speech stance. There’s also a prohibition on “excessive use of capital letters and spamming (continuous posting of repetitive text), that interferes with” others’ “enjoyment of the site.”
https://news.bloomberglaw.com/us-law-week/truth-socials-place-in-the-social-media-ip-landscape-explained
Social media is user generated via platforms as opposed to corporate generated. Meaning social media empowers the individual user to contribute their narrative to society rather than that narrative coming from a publisher.
As far as the greatest... in my definition its the one that applies the least censorship to the narrator. Meaning their voice is not restricted in any format.
As for the platform, at least for now, its the DatChat platform / $DATS, or maybe Disqus.
But definitely no to movies / movie companies. They are not social just like book publishers aren't social.
Maybe $DWAC / TMTG buys Gab, or some other similar social media site.
"... TMTG launched a special purpose acquisition company fundraising effort yesterday with promises to build a sweeping media empire. Its only product so far is a social network called Truth Social that appears strongly to be forked from Mastodon. While anyone can freely reuse Mastodon’s code (and groups like right-wing social network Gab have already done so), they still have to comply with the Affero General Public License (or AGPLv3) that governs that code, and its conditions include offering their own source code to all users. ..."
https://www.theverge.com/2021/10/22/22740354/trump-truth-social-network-spac-mastodon-license-software-freedom-conservancy
Keep booking profits so you can buy more stock net over time. Treat $DWAC as you would as any other trade.
There's plenty of money to be made here for everyone and you can net accumulate stock.
The market is very unforgiving if one misunderstands change and also very rewarding if one understands change.
$DWAC is fundamentally a growth stock. There's a demand for a media company that caters to conservative opinions. Investors don't have to be conservative to understand that.
We know Trump received about 81 million votes in the US, and polls show a large number of those voters do not believe the current media slate accurately expresses their opinion or world view. #DWAC / TMMG is attempting to fill that void.
$TWTR is just about to hit a death cross for the same reasons: They are going to lose viewers.
Real headline: Anthony Scaramucci goes short $DWAC and faces massive losses.
https://seekingalpha.com/news/3756634-anthony-scaramucci-bitcoin-reached-escape-velocity-calls-trump-spac-garbage-propaganda?utm_source=advfn.com&utm_medium=referral
The question is how can naked short sellers cover their positions without taking losses?
Do you have a financial breakdown on what it would take for $FB and $TWTR to remain profitable?
That way you can calculate how many subscribers they can afford to lose to $DWAC before they start to truly collapse financially.
I agree on your main point of them being harmed, but don't yet know to what degree.
At first glance $TWTR looks most vulnerable with a PE of 139.45. $FB has a PE of 25.35.
Funds who went short the meme stocks probably also shorted $DWAC. It wouldn't surprise me to see some forced short covering in stocks like $AMC $NAKD and other memes over the coming days.
Going short $DWAC even at $15 would be an asolutely brutal experience, especially so close to month-end.
There were about 81 million people who voted for Trump, so about 25% of the entire US population (even including kids). If most / all flock to $DWAC media properties, it's a major media empire.
On the other hand all the competitors lose subscribers, which means they're going to lose advertising revenues as CPC rates drop.
This doesn't even count populations in other countries who may become subscribers to $DWAC properties.
Time will tell if Wall Street likes making or losing money.
I can imagine some pretty upset shareholders in $SNAP which collapsed 28% after hours today looking at $DWAC as it rose almost 500% today.
There are going to be many angry shareholder meetings if money managers miss out on 500%+ gains.
In a way missing out on $DWAC is kind of like Wall Street did by missing the early rise of cryptocurrencies.
For sure $DWAC gains viewers because their starting base is 0. Also for sure all the other social media and media competitors lose viewers because collectively they are currently at 100.
$SNAP and $TWTR are direct social media competitors to $DWAC, probably more so than $FB (diversified with Instagram, Facebook and WhatsApp). Likely $SNAP and $TWTR see sustained drops in their share prices in anticipation of a loss of subscribers, revenues, and profits.
On the media side, if I'm correct $DIS owns Fox News, however unlike $SNAP and $TWTR they, like $FB, are diversified. If there's a TV station under the Trump Media and Technology umbrella, there may be an erosion of viewers from that channel.
I also suspect $VIAC sees an erosion of viewers for the same reasons.
There are still a lot of unknowns such as will the media companies be new setups, or will TMTG / $DWAC acquire existing right-of-center media properties.
The first piece of data news may be when Trump Media gets 1 million early signups. Then compare it to when they announce 2 million or 10 million or whatever the next data point is.
You can look at this one run, or look to see if the main rivals fall in anticipation of a loss of viewership / shrinking subscriber base.
Ultimately there's going to be a rebalancing of some sort.
The protesters in Germany, France, and Italy are what I would consider part of the core initial audience.
I see economic potential. I am buying tomorrow.
There are ones like Gab, Gettr, etc. but they don't have the same kind of reach Twitter does for example. These are small tech companies vs a corporate giant.
My guess is Trump Media will quickly establish itself as a corporate media giant.
After someone switches into truth social, maybe they end up killing their Twitter account. It's a big blow to the established tech companies.
Take 25% of Canada, the EU, and UK, and its probably a better estimate of the subscriber base. There's nothing major that caters to this audience.