this post was submitted on 10 May 2026
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Parent company of Truth Social reports $400M loss (www.ctvnews.ca)
submitted 14 hours ago by sanitation@lemmy.radio to c/technology@lemmy.world
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[โ€“] TankovayaDiviziya@lemmy.world 17 points 10 hours ago* (last edited 8 hours ago) (1 children)

Billionaires will still keep it afloat. They recognise the importance of media for mass indoctrination. Like with investing, they diversify. Even if one asset is not making money, there are profitable assets they could take money from to keep underperforming assets going because the latter has intangible value to the owner. Twatter isn't even making money for Musk, but that doesn't matter, it is its intangible value as propaganda which is important for him and other billionaires.

[โ€“] ripcord@lemmy.world 7 points 8 hours ago

Whatever's happening here isn't actual loss. It's surely, 100% some kind of grift.