atomicpoet,
@atomicpoet@atomicpoet.org avatar

No one is using using Truth Social. It’s on the stock market entirely so that Trump can cash out and thus deal with his legal problems. DWAC interest is at 11% which means a whole lot of people expect it to crash.

It’s worth noting, though, that Truth Social is almost entirely based on Fediverse software – though it doesn’t federate – and its current valuation is around $5 billion.

Remember that for the next time someone says your Fediverse server isn’t worth anything.

https://finance.yahoo.com/news/trumps-truth-social-stock-soars-in-first-day-of-trading-133705717.html

ramsey,
@ramsey@phpc.social avatar

@atomicpoet He can’t trade his own stock for a certain time limit, by which time, the stock will probably be worthless.

flexghost,
@flexghost@mastodon.social avatar

@ramsey @atomicpoet The board can allow his share to be put up to secure a loan

ramsey,
@ramsey@phpc.social avatar

@flexghost @atomicpoet Right, but if his share won’t be worth the loan amount in 6 months, who will risk that?

flexghost,
@flexghost@mastodon.social avatar

@ramsey @atomicpoet he can do this sooner

mentallyalex,
@mentallyalex@beige.party avatar

@ramsey People who care more about him in the chair than in losing a bit of cash to buy a politician.

@flexghost @atomicpoet

Phil,
@Phil@freeatlantis.com avatar

@atomicpoet Um Mastadon.social is by far the largest fediverse server, with 1.1 million users. The top 10 mastondon servers have 2.8 million users. Truth Social has 5 million users. That's small compared to twitter, and i don't think it justifies the valuation, but it isn't nobody.

atomicpoet,
@atomicpoet@atomicpoet.org avatar

@Phil Truth also doesn’t federate, which means that even if those 5 million users are active, its network effect is vastly smaller than virtually every server that does federate with ActivityPub.

Phil,
@Phil@freeatlantis.com avatar

@atomicpoet for sure, seems total federated accounts are 15 million vs 5 million on truth social.

atomicpoet,
@atomicpoet@atomicpoet.org avatar

@Phil You forgot to factor Threads. It’s federating, and it has 130 million MAUs.

north,
@north@xn--8r9a.com avatar

@atomicpoet My instance has 1 user with 850 followers. That should be worth at least like $8 million, right?

Investors, hit me up.

kc,

@north @atomicpoet I think you made a spelling mistake, it should read 8 trillion if you hawk it right to a VC

kc,

@north @atomicpoet I also wish this was some kind of joke, but I once made a satirical website about a fake app that connects to your thoughts and shares them without consent.

The ToS explicitly say we delete all of your memories if you cancel the subscription.

I received one genuine offer and an enquiry in investment. If you make it sound and look plausible these morons will try and give you money

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