How Powerful Is Truth Social For Political Messaging?

6 months ago

On "Forbes Newsroom," Forbes reporter Zach Everson spoke about the political power of Truth Social.

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript

Stay Connected
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com

Transcript

00:00How good of a vehicle is truth social at political messaging because when it was made it was supposed to be

00:06Almost like sold as a conservative Twitter Twitter has millions upon millions of users

00:12Truth social I believe around 7 million. So how powerful is it?

00:18It's fine because everything you post on true social ends up on other sites. I mean, I have a true social account

00:23I don't check it often but usually within five minutes of Trump posting a truth as they're calling them

00:29I know what it is because it just it gets picked up everywhere and shared so

00:34Trump isn't hurting for a megaphone, you know

00:36He could be writing he could be hand scrawling notes and somebody would be taking screenshots and they'd be going viral

00:42So now let's take a wider. Look at this party who was on the guest list who was in attendance

00:48There were a lot of executives from the company Devin Nunes the former, California congressman turned CEO

00:55Was there he spoke to the crowd a few board members that there

00:59Linda McMahon who would bend the small business administrator in the Trump administration

01:04Donald Trump jr. Kosh Patel who had also been in the Trump administration

01:10It was there as well former board member and former

01:13Golf Club Trump Golf Club manager Dan Scavino was there and then there were some other kind of celebrities on in Trump world

01:21Lee Greenwood was there

01:23John boy

01:25And Larry Elder who would run for governor of California as a Republican last time and you ran for president as well

01:32Didn't do all that. Well this time because I actually forgot he had ran for president. So I was reporting out this article

01:38Aside from the very obvious Trump connection. Was there a reason why Mar-a-Lago was picked for the venue? I

01:46Asked they they wouldn't say, you know, I reached out to the Trump organization

01:49They didn't get back to me Trump media just said that it followed all necessary rules and regulations with the choice

01:56You know, I had asked were there any alternative any other venues they're looking at, you know

02:00Usually when you're booking an event you might get quotes from a few venues

02:03They didn't answer that. I'm gonna expect that we don't suspect that probably wasn't the case, but we don't know for sure

02:11Did Trump media have to pay to be there then

02:13Don't know, uh, it seems likely it seems like a really good revenue stream for the former president, you know, he is

02:21You know, he's not known for giving away things for free

02:24He certainly charges his political committees and those of allies to use his businesses in this case

02:30He's somewhat charging himself because the less money

02:34Jud the less money Trump media has the less his stock might be worth

02:38But I don't think it's real, you know, it's not a not not a one-for-one deal

02:41So whatever money he can get out of out of Trump media, he's probably happy to get it

02:45Especially with his shares locked up for another few months, you know

02:49Getting paid for a ballroom rental or in this case a poolside rental is money. He can get right away from the company

02:55So essentially what you're saying if Mar-a-Lago was paid for the event the money's directly going into Trump's pocket

03:02That is most likely the case

03:04And you mentioned that he has been making other revenue streams

03:08What are the unique ways he's been making money over the past few months?

03:12Oh boy, uh, you know this this party seemed rather boring compared to the other ones

03:16There was the sale of the trump nfts the latest round of which actually had a physical version

03:22That included scraps from the suit. He wore while getting his mugshot in filton county

03:28there were the

03:29Trump sneakers, uh the ones in gold that kind of looked like something apollo creed might wear or cover lang white wear

03:35And then there was also the trump bible that he was uh, he's hawking with lee greenwood

03:39Which has been his latest venture where they're charging 60 for the god bless the usa bible

03:45So post party, we're almost a week out from that party. How is truth social looking? Let us know

03:53Uh, it's a good thing. They threw the party then and not now because things keep getting worse

03:57But again, I still you know still probably valued it more than what it should have been

04:01And is there any indication things could be getting better or has it just been a downward plummet since it went public in march?

04:08Uh, it's been a pretty straight downward plummet

04:10Most recently the company announced on monday in an sec filing that it was going to uh put out more shares

04:16Now that's from what I understand common for companies that come to the public market like it did in this back

04:22But yet it's not something that uh is new to the public market

04:26Thank you so much

04:28My pleasure

How Powerful Is Truth Social For Political Messaging?

Category

Transcript

Recommended