Digital World’s Short Thesis: Trump Just Proved that Truth Social is Dead in the Water
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Whatever else you might think of him, Trump is not a fool. So, when the former US president abandons his very own Twitter-like echo chamber of sorts, Truth Social, in favor of Elon Musk's X social media platform, the implications are multivarious not only for Trump's political fortunes but also those associated with the SPAC Digital World (NASDAQ: DWAC), which is slated to take Trump Media and Technology Group (TMTG) - the entity behind the Truth Social platform - public in a highly anticipated reverse merger.
https://t.co/MlIKklPSJT pic.twitter.com/Mcbf2xozsY
— Donald J. Trump (@realDonaldTrump) August 25, 2023
After a hiatus of two and a half years, Trump returned to X with a bang, posting his mugshot with a number of catchy slogans designed to reinvigorate his base.
I know that Trump is contractually obligated to post only on Truth Social, and on other media only after a delay. Is the cold feet about wanting to return to Twitter for his presidential campaign?
— @annmlipton@esq.social (@AnnMLipton) July 3, 2023
In early July, we noted that Trump might be having second thoughts vis-a-vis Truth Social. Specifically, Ann Lipton, a law professor at Tulane, cited an email quoted by the New York Times, which mentioned that the Trump Media and Technology Group was “currently only bound under the merger agreement [with Digital World] through Sept. 8, 2023.” According to the professor, this suggested at the time that Trump was having “cold feet” vis-à-vis his commitment to Truth Social and that he appeared to be angling to return to X as his presidential campaign gained steam.
On a deeper level,
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