Digital World Acquisition, the company that is trying to merge with Donald Trump’s media and technology startup, is warning potential investors about the risks of investing in their new company. Specifically, their official documents for potential investors warn about Donald Trump’s MANY business failures over the years. This is standard procedure to protect investors, and it may be enough to scare off people with any common sense. Farron Cousins explains what’s happening.
Link – https://thehill.com/policy/technology/3491356-company-buying-truth-social-warns-investors-about-trump-business-failures/
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*This transcript was auto-generated. Please excuse any typos.
So, as I’ve mentioned, both here and over at ring of fire recently, we have seen Donald Trump sending out more truths as they’re called on his truth social app. And it’s very weird. Like suddenly, you know, he hadn’t used it for months, even after it launched, but suddenly guys on there all the time, just like when he was back on Twitter. Well, it turns out there’s a very good reason for that. Apparently there is an agreement with digital world acquisition, the company that is trying to merge with the Trump media and technology group. There’s an agreement that Donald Trump has to exclusively and regularly use the platform. And we know this because the company’s S four merger document was recently made public. Um, but that’s not the most interesting part of this. It’s not just like, Hey investors, you know, potential investors, we promise Trump’s gonna use it.
So of course he had to start using it. No, the most interesting part is that in this S four merger document, which of course is used as a guideline for potential investors, they had to issue a warning to people like, Hey, you know, we’re taking over this company. Hopefully if the merger goes through and you can invest in us, but buyer beware, uh, this guy has a lot of failed businesses. It has past it is right there in the document that they are warning potential investors. Just so you know, this guy doesn’t have a good track record. Let me read this. This is from the document. A number of companies that were associated with president Trump have filed for bankruptcy, and then it lists Trump shuttle, Trump university, Trump vodka, Trump mortgage, Trump stakes. You could also throw in there, not necessarily that filed for bankruptcy, but that, uh, projects had failed.
You know, Trump, bottled water, uh, Trump, Taj Maha, a couple of his other casinos. There’s lot more bankruptcies and failures than just the ones listed in the document. So I probably think, you know, for the investor’s sake, you may want to go ahead and just create a separate document that just lists all of the failures, but not just the failures, the reasons why they failed, because I think that is paramount for the safety of these investors. Now, finance law is very, very weird, I guess, is the best way to describe it. You know, there’s lawyers that basically specialize in this because it is so confusing, I guess, at some points, you know, but, but ultimately it all comes down to fiduciary duty. You have a job to make sure that people that invest their money with you, regardless of what kind of entity you are just like digital world acquisition. If people put their money with you, you have to be very clear. You have to be completely transparent. You have to let them know the
Risks. And that is what they’re doing here. But I think as part of that, it’s not just enough to say that. Yeah, Donald Trump has had a lot of businesses that have gone bankrupt. I think the important thing is to tell them why these companies went bankrupt, not just for the potential investors, but also to remind the public that this is not the brilliant businessman that you think he is. He has had far more failed companies than he has had successful ones. Yes, the official Trump organization, they’re doing just fine. But when you take him outside of real estate, outside of reality TV things don’t go well for him. And that’s the whole point of this. Trump knows nothing about running a media company, the guy he put in charge of truth, social Devin Nuez he knows nothing about it. You know, the whole app is totally floundering.
Very few people are even using it on a regular basis. And now they’re talking about spending millions and millions of dollars, hiring producers, turning themselves into a full blown movie studio to produce pro Maga content on a streaming service that doesn’t exist yet. This sounds like a bad idea. It sounds like an idea that is definitely going to fail because there simply isn’t a market for it. Which of course is probably why in this document they say, don’t worry folks.