Instant access to Trump’s thoughts now costs $100,000 a month – Mother Jones

The deal is structured to give wealthier buyers real and immediate access to the president’s statements. Julia Demaree Nikhinson/AP

Get your news from a source that isn’t owned or controlled by oligarchs. Subscribe to the free Mother Jones Daily.

Truth Social announced last week that it was selling immediate access — or at least as close as possible — to the thoughts of President Donald Trump. For $100,000 per month, anyone will be able to receive almost instant access to Trump’s Truth Social posts through the platform’s API, a very small but significant advantage over following them via the web. This deal, however, is not like many of his other business deals attempting to capitalize on the presidency: It’s not a chintzy watch or a refurbished phone painted gold. This is the real deal, and its unique structure ensures that those willing to pay will have real and immediate access to the president’s statements.

There is already a booming business in selling near-immediate access to information: licensed data feeds are offered by other social media companies, and media companies like Dow Jones and Bloomberg offer expensive feed services that allow extremely fast access to headlines and key data points. The market for all of this is high-speed trading Wall Street firms, where access to key information about market developments even a few milliseconds faster than a competitor can enable profitable trades.

In fact, it was odd that Truth Social, which has struggled to make big profits or expand its active user base well beyond Trump and his immediate family, hadn’t already offered a live data feed.

But the way Truth Social presented its new product wasn’t subtle. According to his press release:

“Markets are already moving on Truth Social publications,” said Kevin McGurn, interim CEO of TMTG. “Truth API provides a live, licensed, real-time feed of the fastest-growing Truths in the market while advancing our proprietary asset monetization strategy through a high-margin, recurring revenue stream. As adoption grows, we expect Truth API to become a significant and ongoing revenue source for the company, creating lasting value for shareholders.”

In fact, a single user’s posts on Truth Social actually move markets, and now, according to the company, Trump Media will use that fact to make money for shareholders. Notably, Trump reportedly owns approximately 42% of the company.

The press release claimed that the company had already signed up customers and expected more to join before August 1, when the program launches. The Financial Times reported this week that the cost would be $100,000 a month.

It’s a striking cost: according to at least one source, it’s more than double what Twitter charges for API access to its much larger galaxy of marketplace accounts, and Meta and LinkedIn are individually negotiating their deals on a large scale.

Ironically, what makes the Truth Social feed so lucrative is what once seemed like one of the company’s weaknesses: Trump has an exclusivity deal with Trump Media + Technology Group.

In 2022, I wrote about how Trump Media signed a deal with Trump guaranteeing he could post content elsewhere, as long as he posted it on Truth Social six hours before posting it elsewhere. The big caveat to the deal was that Trump could post content related to political messages, political fundraising or get-out-the-vote efforts anywhere and at any time.

In 2022, when Trump was out of office and mostly an unemployed politician, testing political messages and trying to raise money, this was a hole in the business plan. Of course, Trump is still constantly testing his political messages and trying to raise money for political groups, but the market-moving content — for example, his April 9 Truth Social message that he would suspend most tariffs, which sent stocks soaring — has remained on Truth Social.

But the move also unsettles some on Wall Street. According to the Financial Times, at least one senior hedge fund executive pointed out that even if a company didn’t find the API feed very useful (and several apparently responded to the FT that they didn’t find it useful, because it only really benefits companies that transact at high speed), it might still have a fiduciary duty. It is the obligation of a company’s managers to do everything they can to make a profit or face legal action from shareholders.

A second macro hedge fund manager called this “outrageous” but suggested that some hedge funds may have to subscribe to the service out of fiduciary duty to their clients, to avoid falling behind their competitors.

“This is a huge abuse of power,” said one crypto trader. “It’s a terrible look…not exactly presidential and impartial.”

In a way, this is just an extension of the very principle of Truth Social, a platform that draws its relevance from Trump. The company’s risk disclosures in SEC filings have long made it clear that they understand that he is essentially the main reason the service has users. As a typical disclosure explains:

President Trump has significant influence over TMTG’s business plan. TMTG believes that President Trump’s reputation and relationships are an essential element of the success of TMTG’s business. The future success of TMTG will depend, to a large extent, on the continued presence and popularity of President Trump. If President Trump were to terminate his relationship with TMTG due to death, disability or other reason, or limit his involvement in TMTG due to his candidacy for political office, TMTG would be at a significant disadvantage.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos