Trump's New Social Media Platform Opens Him Up To Serious Legal Issues
Published at : October 25, 2021
Donald Trump has launched a new social media site, and aside from ridiculous rules like not being able to criticize the platform, legal experts say that the way the company is set up could lead to serious legal problems for Trump. Specifically, because the company is set up as a public company, financial records could easily be attained, and that could stretch all the way to the Trump Organization itself. Farron Cousins explains why that isn't the only legal problem Trump could already be facing.
Link - https://www.nytimes.com/2021/10/20/us/politics/trump-media-spac.html?smid=tw-share
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Connect with Farron on Twitter: https://twitter.com/farronbalanced
*This transcript was auto-generated. Please excuse any typos.
It was announced this week that Donald Trump has finally launched or is preparing to launch his new social media site called truth social. And I love that. I love how conservatives name things to always make it sound like they're the grand arbiter of everything. You know, it's either got the word Patriot in it, the word America, or the word truth. I mean, really you could probably make a fortune right now, scamming conservatives. If you were to just call something, uh, you know, American truth Patriots, like that's probably the ideal name to scam conservatives, but anyway, truth, social it's out there right now. You can pre-order it on the app store. And according to legal experts, Donald Trump might be opening himself up to some serious legal headaches in the near future. And it's because of the way that this new company digital world is what it's called is designed as he digital world, which is Donald Trump's, uh, you know, tech arm now.
And I think they have a new name for it, but whatever, it's something, you know, Trump technical, digital, blah, blah, blah. Anyway, that name's not important. What's important is the fact that this is a publicly traded company. Oh, not like the Trump organization, which is a privately owned company by the Trump family. Meaning all of their stuff is private. You know, their, their financial records what's coming in. What's going out. You don't have to share that with anybody outside of the Trump family. And we know how much legal trouble that's gotten them in, but now you can't hide it. This is a publicly traded company. You have to be honest with the investors. And since this company is now tied to the Trump organization, that could also open up the Trump organization as a, uh, I'm assuming investor in this project. So their records would also be subjected to some of these stricter securities and exchange commission regulations.
And he didn't think that one through digit buddy. And that, of course, that is what legal experts are telling us right now, based on the structure of this new company. Here's another thing. And this is already potentially putting the company in legal jeopardy, according to a report from the New York times, some of the investors of which, by the way, they got $300 million of outside investors to come in and put money into truth. Social here. Some of them were not aware because the information was not given to them that this is a Trump involved venture. So right off the bat, it kind of looks like you guys might be popped for defrauding investors. If you did not fully disclose to everyone who else was involved in this, you know, what names of individuals and I would think a former president of the United States would probably be a name you'd want to throw around.
Unless of course you were trying to intentionally hide that. But again, this New York times report says that you have several investing companies that have now come out and said, look, we didn't know Donald Trump was going to be personally involved in this. So either those investors are lying to the New York times, which is totally possible, try to save face like, oh, we didn't know. Or when the P uh, companies approach these investors, they weren't completely honest. And that would be illegal. So even before this stupid truth, social thing got off the ground, they could be in serious legal jeopardy. And if you know anything about Trump's history, that's literally the least surprising thing you're probably going to hear today. Oh, but here's another, just little small tidbit. They've released a set of rules, really, really long set of rules, you know? And one of the rules by the way is that you are not allowed if you're on that social media site, true social, you're not allowed to criticize it.
You're not allowed to make fun of it. So, yeah. Sounds like things are already going swimmingly for Donald Trump's new truth, social, unless of course you try to tell the truth, that the thing just absolutely sucks.
Link - https://www.nytimes.com/2021/10/20/us/politics/trump-media-spac.html?smid=tw-share
Don't forget to like, comment, and share! And subscribe to stay connected!
Connect with Farron on Twitter: https://twitter.com/farronbalanced
*This transcript was auto-generated. Please excuse any typos.
It was announced this week that Donald Trump has finally launched or is preparing to launch his new social media site called truth social. And I love that. I love how conservatives name things to always make it sound like they're the grand arbiter of everything. You know, it's either got the word Patriot in it, the word America, or the word truth. I mean, really you could probably make a fortune right now, scamming conservatives. If you were to just call something, uh, you know, American truth Patriots, like that's probably the ideal name to scam conservatives, but anyway, truth, social it's out there right now. You can pre-order it on the app store. And according to legal experts, Donald Trump might be opening himself up to some serious legal headaches in the near future. And it's because of the way that this new company digital world is what it's called is designed as he digital world, which is Donald Trump's, uh, you know, tech arm now.
And I think they have a new name for it, but whatever, it's something, you know, Trump technical, digital, blah, blah, blah. Anyway, that name's not important. What's important is the fact that this is a publicly traded company. Oh, not like the Trump organization, which is a privately owned company by the Trump family. Meaning all of their stuff is private. You know, their, their financial records what's coming in. What's going out. You don't have to share that with anybody outside of the Trump family. And we know how much legal trouble that's gotten them in, but now you can't hide it. This is a publicly traded company. You have to be honest with the investors. And since this company is now tied to the Trump organization, that could also open up the Trump organization as a, uh, I'm assuming investor in this project. So their records would also be subjected to some of these stricter securities and exchange commission regulations.
And he didn't think that one through digit buddy. And that, of course, that is what legal experts are telling us right now, based on the structure of this new company. Here's another thing. And this is already potentially putting the company in legal jeopardy, according to a report from the New York times, some of the investors of which, by the way, they got $300 million of outside investors to come in and put money into truth. Social here. Some of them were not aware because the information was not given to them that this is a Trump involved venture. So right off the bat, it kind of looks like you guys might be popped for defrauding investors. If you did not fully disclose to everyone who else was involved in this, you know, what names of individuals and I would think a former president of the United States would probably be a name you'd want to throw around.
Unless of course you were trying to intentionally hide that. But again, this New York times report says that you have several investing companies that have now come out and said, look, we didn't know Donald Trump was going to be personally involved in this. So either those investors are lying to the New York times, which is totally possible, try to save face like, oh, we didn't know. Or when the P uh, companies approach these investors, they weren't completely honest. And that would be illegal. So even before this stupid truth, social thing got off the ground, they could be in serious legal jeopardy. And if you know anything about Trump's history, that's literally the least surprising thing you're probably going to hear today. Oh, but here's another, just little small tidbit. They've released a set of rules, really, really long set of rules, you know? And one of the rules by the way is that you are not allowed if you're on that social media site, true social, you're not allowed to criticize it.
You're not allowed to make fun of it. So, yeah. Sounds like things are already going swimmingly for Donald Trump's new truth, social, unless of course you try to tell the truth, that the thing just absolutely sucks.
Farron CousinsNewsPolitics