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What is Donald Trump’s new TRUTH social app, how does it work?




Former US President Donald Trump has announced his return to the digital world with the planned launch of his own social media app as he vows to “stand up to Big Tech” after being banned from major platforms. The app, TRUTH Social, will be created through a new company formed by the merger of Trump Media and Technology Group and a Special Purpose Acquisition Company (SPAC), according to a press release they released on Wednesday.

The company could provide the first real test of the power of right-wing social media with all the strength of Trump’s backing. Questions remain about how he plans to make money and avoid the same issues that led Alphabet’s Twitter, Facebook and YouTube to ban or suspend it. Here is an explanation of Trump’s business.

What is the goal of Trump Media and Technology Group (TMTG): In a presentation to investors, backers of the new venture said TMTG aspires to create a media powerhouse to “compete with the liberal media consortium” and ” counter big tech companies in Silicon Valley. “During his presidency, Trump lashed out at major media outlets and called journalists” enemies of the people. “

🚨President Donald J. Trump announces Trump Media & Technology Group🚨 I created TRUTH Social and TMTG to resist the tyranny of Big Tech…

I am delighted to send my first TRUTH on VÉRITÉ Sociale very soon…

Liz Harrington (@realLizUSA) October 21, 2021

The company has said it wants to create a “non-cancellable” global community – comprising a social media platform, streaming service, news division and alternative cloud provider – to compete with established players. in these categories, from Twitter to Disney + to CNN to Google Cloud He said that a streaming service, TMTG +, promises “news, big tent entertainment, exciting documentaries, sports programming and more” .

Donors have not developed a pricing or income generation plan. The TRUTH Social app is available for pre-order from the Apple App Store, a sign that its funders plan to distribute it through conventional channels.

How PSPCs Work: A PSPC is a shell company that raises funds through an IPO to merge with a private company which then becomes publicly traded. PSPCs have become a popular alternative to IPOs for companies, providing a way to go public with less regulatory oversight and more certainty as to which valuation will be achieved.

Shareholders of SPAC, Digital World Acquisition Corp, will be asked if they wish to repurchase their shares for their IPO value when the merger is about to be completed. If they do, they will reduce the $ 293 million in cash that PSPC has available to give to Trump’s company.

What are TMTG’s chances of success: Trump drew a large following on social media before he was permanently banned from Twitter and suspended by Facebook and YouTube. His @realdonaldtrump Twitter account had 88.7 million followers. Trump has struggled to gain traction online since leaving office in January. He unplugged his blog – titled “From Donald J. Trump’s Office” – after 29 days. Other conservative online businesses have failed to attract huge audiences.

Gettr, a social media app launched in July by former Trump spokesperson and senior advisor Jason Miller, has reached around 2.2 million installs globally on the App Store and Google Play, according to Sensor Tower.

The social media and streaming platforms, media and web hosting services that TMTG seeks to challenge are well established and well funded.

TMTG may have a hard time finding a web host if it becomes a source of violent rhetoric. Speak, the app backed by prominent Republican Party donor Rebekah Mercer, has been shut down for about a month after suspended web hosting services after the January 6 riot at the U.S. Capitol. -United by Trump supporters. Google has also removed Parler from its app store. Talking came back online in February with Los Angeles-based private cloud infrastructure SkySilk.

Since Parler came back online – on the App Store, not Google’s Marketplace – it has attracted just over 100,000 installs, according to Sensor Tower.

What Kind of Speech TMTG Will Prohibit: It will not allow making fun of Trump or his people. According to its conditions of use, as a user of the site, it undertakes not to “denigrate, tarnish or harm, in our opinion, to us and / or to the site”.

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