Trump’s Media Company Is DYING

Donald Trump’s media company – The Trump Media and Technology Group – posted their 2nd quarter numbers on Friday, and they are somehow even worse than the overall economic numbers we’ve seen lately. The company lost another $20 million in the 2nd quarter of this year, and that number would have likely been far greater if they weren’t investing the little amount of cash they have in Bitcoin. These losses came even as the company launched a new streaming service and as Truth Social remains the only way Trump communicates with the public. Ring of Fire’s Farron Cousins explains what’s happening.

Subscribe to stay connected to our stories

Support us by becoming a member on YouTube

Or Support us on Patreon

Buy Ring of Fire merch

Find us on social media!

*This transcript was generated by a third-party transcription software company, so please excuse any typos.

If you thought the jobs report right, the economic numbers that we got on Friday were bad, then you haven't seen anything yet. Because as bad as all of the economic indicators are in this country, uh, there are still some economic numbers that are even worse than that. And those, of course, are the economic numbers coming out of the Trump Media and technology group, the parent company of Truth, social, and their new streaming platform, truth plus a company that Donald Trump owns because he owns 52% of the stock and they released their second quarter earnings report on Friday. You know, while everybody was distracted by the horrible jobs numbers, Trump media and technology came along and said, you think that's bad? Hold my beer. Look at this. In the second quarter of this year, the Trump Media and Technology group had operating losses of $20 million and revenue of 883,883,000, operating losses of $20 million in three months.

This came as they launched their new streaming service. So, hey, here's a new product that people have to pay us for. And it fell flat completely. They lost money. It came as truth. Social is the only means with do with which Donald Trump uses to communicate with the public as a whole. He's not using Twitter, he's not using Facebook. He's exclusively using truth social. So if you want his stuff, you have to get it from there. His truths are in the news almost every day. And even with all of that free publicity, they still lost $20 million. Nothing Trump can do is going to save this failing stupid, redundant company that was definitely not needed. Here's where it gets funnier though. You see, the Trump Media technology group does have a lot of cash on hand, so their losses would have been greater if not for people in the company taking the money that they have on hand.

They weren't using it to make their own company better. They weren't using it to create content for their streaming service. They took that money, $2 billion worth of it, of the company's money. And you know what they did? They bought Bitcoin. Now that actually gave them some money. So they took all of their income, not income, excuse me, all of their assets. And basically like a struggling company goes to Las Vegas and says, ah, I'm gonna put it all on black. And they won. But in this case, they didn't go to Vegas, they went to the stock market and said, we're gonna buy a bunch of Bitcoin, $2 billion worth of Bitcoin.

And it did make them a little bit of money. So if they hadn't done that, that $20 million loss would've been far greater. So the only way that Trump's media and technology group can be profitable is if they take their own money and actually invest it into things that are profitable, because there is no market for this pile of garbage that Donald Trump created. That is of course, being run by Devin Nunes, who doesn't know his from a hole in the ground. But this company is dying. The only thing keeping it alive right now is the fact that they put a bunch of money into Bitcoin. And if Bitcoin crashes, they're done, like they, they will have no money because they put it all in Bitcoin. So that's a risky gamble. I hope it doesn't pay off for them. Thanks for watching everybody. And if you're not already, please subscribe to the channel. We got fresh content every day for you. And if you wanna follow us across social media, make sure you check out all of the social links that we have posted in the description of this video.