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    • KapteinB
      Top reader this weekReading streakScoutScribe
      2 years ago

      The social network, set for a beta launch next month and full rollout in the first quarter of 2022, is the first of three stages in the company's plans, followed by a subscription video-on-demand service called TMTG+ that will feature entertainment, news and podcasts, according to the news release.

      In a slide deck on its website, the company envisions eventually competing against Amazon.com's AWS cloud service and Google Cloud.

      Is this a case of Trump being delusional, or yet another of his scams? My money is on scam.

      The deal will list Trump Media & Technology Group on Nasdaq through a merger with Digital World Acquisition Corp, a blank-check acquisition firm led by former investment banker Patrick Orlando.

      Trump Media & Technology Group will receive $293 million in cash that Digital World Acquisition Corp had in trust, assuming no shareholder of the acquisition firm chooses to redeem their shares, according to the statement.

      Orlando, who has worked at Deutsche Bank and BT Capital Markets, has launched at least four SPACs and has plans for two more, according to his firm's website and regulatory filings.

      Did we ever get to the bottom of why Deutsche Bank is so happy to fund Trump's misadventures? I've seen some claims that they're connected to Russian criminals and/or oligarchs, but nothing concrete.

      1. Update (10/21/2021):

        The comment section on Tildes says this is "an AGPL-noncompliant fork of Mastodon".