Money laundering

From Yahoo news.

Shares of Digital World Acquisition Corp (DWAC), the blank check company tied to former President Trump’s social media firm, soared as much as 20% on Thursday amid a report of efforts to raise $1 billion.

Truth Media & Technology Group (TMTG) plans to sell shares to hedge funds and family offices, at a valuation several times more than when it merged with the blank check company, according a Reuters article.

TMTG had been valued at $875 million, including debt, at the time of its merger deal announcement with DWAC in October. Trump’s company is now reportedly raising funds at a valuation of $3 billion.

What are they “raising money” for?  The development costs for a startup social media website are in the 10’s to 100’s of thousands of dollars.  I know someone who is entrenched in that world would argue that they are much higher, but they don’t realize how wrong they are BECAUSE THEY ARE IN THAT WORLD.

Social media websites are essentially frameworks for users to display their content in.  There is a backend storage and organization (database) component that costs money, the costs of which are easily met with microsubscriptions or advertising revenues.

These companies are bloated in order to justify the valuations.  The valuations drive these “fundraising” efforts, which are just defrauding the investors.  Some of the investors hit the jackpot, think twatter, faceberg, jewgle, virtually no one else does.  In fact, I believe the capitalization of the successful tech companies represents the total losses on investment in competitors, plus a risk premium. Someone could get a PhD researching this.

They are raising money to fleece the investor and get rich.  Who are the investors?  I suspect some are state and non-state political actors.  It’s fraud.

Here’s another.  This is from The Sun:

Spotify paid Markle and Prince Harry were paid 18 million British Pounds to create a podcast.

Spotify last year excitedly announced it was expecting a full-scale launch of content from the Duke and Duchess of Sussex throughout 2021.

But with only one show under their belts, the streaming platform has so far paid the couple £500,000 for each minute.

Meanwhile, Harry has appeared on numerous other podcasts, including Dax Shepard’s Armchair Expert in May, where he said his life was like Jim Carrey film The Truman Show.

They both also found time to sit down for their sensational Oprah interview in March — while the Duchess played pranks on the Ellen DeGeneres show earlier this month.

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