Social media played a pivotal role in Mr. Trump’s bid for the White House and was his favorite means of communication as president. So it is no surprise that he’s launching his own social media network after being kicked off all major internet platforms.
Twice-impeached former U.S president Trump, who has repeatedly spread falsehoods about the 2020 election, announced that he’s launching a social media network that will be called Truth Social.
In an Oct. 20 press release, an entity called the Trump Media & Technology Group said its mission is to “create a rival to the liberal media consortium and fight back against the ‘Big Tech’ companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.”
Trump was suspended from all major ‘Big Tech’ platforms over his role in the Jan. 6, 2021, deadly attack on the U.S Capitol during which he expressed support for rioters who were aiming to overturn the results of the 2020 election. According to the Chron, this summer he sued Facebook, Twitter, and Google (and their CEOs) alleging they violated his First Amendment rights seemingly oblivious to the fact that the U.S. The Constitution doesn’t prohibit private companies from restricting speech and that internet services are allowed under U.S. law to remove harmful content.
Trump, who was identified as the chairman of TMTG, said the platform would “stand up to the tyranny of big tech”, accusing them of silencing opposing voices in the US. “We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable. I am excited to send out my first Truth on Truth Social very soon. TMTG was founded with a mission to give a voice to all. I’m excited to soon begin sharing my thoughts on Truth Social and to fight back against Big Tech.”
Trump Media & Technology Group plans to become a publicly-traded entity through a merger with Digital World Acquisition Corp., a special purpose acquisition company (SPAC). The transaction values Trump Media & Technology Group at an initial enterprise value of $875 million, with a potential for a cumulative valuation of up to $1.7 billion depending on the performance of the stock price post-merger, the companies claim. TMTG initially will be funded by DWAC’s cash holdings of $293 million, according to the companies.
Trump also claims to be prepping the launch of a subscription-streaming service stocked with “non-woke” entertainment programming. This service is to be called TMTG Plus and Scott St. John, former executive producer of shows including “Deal or No Deal” and “America’s Got Talent,” will lead the operations. The SVOD service will include entertainment programming as well as “news, podcasts and more.
Donald Trump clearly wants his megaphone back and thinks this might be his ticket. But if he’s really going to be heard, he might need the Big Tech platforms to let him back on and that’s not going to happen anytime soon.