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Business Donald Trump Social Media

Forbes Calls Investing In Trump’s New Social Media Platform ‘A Sucker’s Bet’

Even though failed, one-term former President Donald Trump’s latest business venture — a social media platform he’s dubbed Truth Social — won’t actually be operational until early next year at the soonest, he’s already raising money to finance the project, which has Chuck Jones of Forbes warning that putting a dime into the Trump project is “a sucker’s bet.”

Investors have been somewhat bullish early on:

Former President Trump announced on Thursday that a newly formed company, TMTG or Trump Media & Technology Group, would merge with Digital World Acquisition Corporation. Digital World is a SPAC or Special Purpose Acquisition Company that was formed in September and whose stock price had essentially been trading around $10 before the TMTG announcement. On Thursday the stock rose to $52 before closing at $45.50 and on Friday it hit a high of $175 and closed at $94.20.

From $10 to $52, then back down to to $45.50 and finally closing at $94.20. That’s some major fluctuation in such a short time, but Jones explains people are betting on a company that has no revenue and no earnings, which is just as absurd and unstable as it sounds:

As Digital World’s IPO prospectus stated, “We have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. Following this offering, we will not generate any operating revenues until after completion of our initial business combination.”

Does that sound like something you want in your stock portfolio? If so, then you should probably hand over control of your investment decisions to a 10-year-old and let them choose what stocks to buy on your behalf.

There’s also the matter of the only other publicly traded company Trump has ever been a part of: Trump Entertainment Resorts, which included most of the Donald’s Atlantic City casinos. How did that work out? According to the Washington Post:

“The company operated for roughly two decades, starting in 1995. For Trump’s investors, it was a disaster: The company lost more than $1 billion, its stock price nosedived, and it filed for bankruptcy three times, in 2004, 2009 and 2014. … But Trump himself did well: The struggling company paid him more than $44 million in salary, bonuses and other compensation.”

Trump did great, but investors got fleeced. That’s the story of Donald Trump’s life. He’s a failure and he’s always been one. He just has others pay for his ignorance. And for some reason, they keep falling for his con job.

Categories
Media in America WTF?!

Google Gmail April Fools’ Day Joke Causes Some To Lose Their Jobs

Google thought they had a great idea for a really awesome April Fools’ Day prank: The company added an alternative send button on Gmail which allowed users to have the final say in an email thread by adding an explanatory GIF to “set expectations” and never see any responses to the email again. They dubbed it “MicDrop.”

Good one, huh? Yeah, unless you lost your job as a result, which some did.

Technologist and blogger Andy Baio saw the MicDrop feature when it debuted at Midnight and immediately called it “short sighted,” and added:

“Changing sent email like that without confirmation is an incredible betrayal of trust. The damage from this prank is just getting started.”


Was he ever prophetic! Not long afterward, this message appeared on social media:

Others posted notes on the Gmail Help Forum. Abdus Salam said he sent an email to the HR manager at a job he was due to start next week after three months of interviews:

“Why would you do that? I so want this job; was due to start on Monday.”

For their part, Google attempted to apologize, noting:

“Well, it looks like we pranked ourselves this year. Due to a bug, the MicDrop feature inadvertently caused more headaches than laughs. We’re truly sorry. The feature has been turned off. If you are still seeing it, please reload your Gmail page.”

In the interest of full disclosure, I have a Gmail account and love it. I saw the MicDrop feature and shook my head, thinking, “You’d have to be really pissed off to use that thing.” So glad I didn’t. The last thing I need is to be without a job or lose a friend or family member because of some stupid gag on the part of Google.

But hey, Google, you really screwed up on this one. Not funny. I think you owe some folks one hell of an apology.

Categories
Business Media in America

Rupert Murdoch Takes Over National Geographic, Lays Off Nearly 200 Employees

In September, when the news came that Rupert Murdoch, better known as the Douchebag Conservative Overlord of Fox News, had just purchased National Geographic, it sent of waves of concern among those who have long seen National Geographic as one of the great bastions of scientific exploration and reporting.

But things had rocked along in a mostly copacetic fashion until yesterday arrived.

Staff members–every one of them–were ordered into the office, unless they were traveling for business or vacation, by this email from CEO Gary Knell:

“After very careful and serious consideration, we are ready to communicate how our restructuring and transformation will affect each employee at National Geographic. To that end, please make every effort to be available tomorrow, November 3rd, either in your regular work location, and/or by phone.

“If you are traveling for business, on vacation or plan to be out for any other reason, please notify Tia Freeman-Evans or Yvonne Perry in HR immediately, so we can make alternative plans to get in touch with you. If you know that someone on your staff will be out of the office on November 3rd, please let Tia or Yvonne know by 3 p.m. (Eastern) today, as well.

“Please watch your inbox for important information about your employment status tomorrow.

“I cannot thank you enough for your patience and hard work over the last few months. I am proud of how our teams and our organization have approached and responded to this transitional period. Looking ahead, I am confident National Geographic’s mission will be fulfilled in powerful, new and impactful ways, as we continue to change the world through science, exploration, education and storytelling.”

And you can probably write the next line yourself: Each employee was called into the HR office and 180 of them were summarily released from their employment. Fired. Let go. Hung out to dry. Screwed.

The corporate powers-that-be then released a statement to get their side of the story out. As if that would make it any less painful for the nearly 200 people who are now unemployed:

“The National Geographic Society and the National Geographic Channels are in the process of reorganizing in order to move forward strategically following the closing the NG Partners deal, which is expected to occur in mid-November.

“The entities combined have about 2,000 employees, and all staff have been advised as to their status as of closing. Involuntary separations will represent about 9% of the overall workforce reduction, many in shared services and a voluntary separation offer has also been made to eligible employees.”

So it would appear that all of our fears about what King Rupert would do with this great institution are now starting to come true. No doubt we can soon expect headlines that read, “Global Warming…What Global Warming?” and “Oil Exploration: The Polar Bear’s Best Friend.”

Here’s my response to what Murdoch just did and is yet to do with National Geographic: The middle finger of both my hands is raised in protest.

This article was originally published by the same author at LiberalAmerica.org.