Donald Trump's much touted social media platform that he hoped would be a new conservative alternative to Twitter, Truth Social, has just reportedly lost two key executives six weeks after its launch.
Back in February, when Truth Social "launched" but kind of didn't, with most users being put on a waitlist after downloading the app, we gave the whole enterprise eight months before a likely implosion comes. Because launching a new social media company, no matter who you are or what experts you hire, is going to be rife with challenges these days — and Twitter wasn't built in a day. And it's just all kinds of wrongheaded to think that what the world needs is a platform with less content moderation — and good luck getting ad revenue from a place where everyone is just freely using racial slurs and making threats against whoever and whatever they please.
Here we are less than two months since the launch, and Reuters reports that two key executives running Truth Social have already quit. Josh Adams, who was serving as the company's chief of technology, has apparently resigned, and so has Head of Product Development Billy Boozer. The whole story is a bit fuzzy, and Reuters said it was unable to confirm whether either Adams or Boozer were reassigned to other roles in the company, and no one would comment.
The pair worked just below two former Apprentice cast-mates whom Trump hired to run the day-to-day operations at Truth Social, beneath CEO Devin Nunes, Wes Moss and Andy Litinsky. This is according to an anonymous source speaking to Reuters.
Neither Adams nor Boozer had disclosed their jobs at Truth Social on LinkedIn, but Reuters noted that both appeared to be frequent posters on the nascent platform, writing as "Josh A." and "Billy B."
“If Josh has left… all bets are off," one source told Reuters, referring to the fact that Adams had been largely responsible for building the platform itself.
Adams and Boozer, who both hail from Alabama, are reportedly staunch conservatives themselves, and Reuters reports that Adams was a strong believer in Truth Social's "anti-cancel culture" mission.
As the SF Business Times notes, the Truth Social app still hasn't debuted in the Google Play store, after only appearing in the Apple App Store in late February. And after 1.2 million downloads, per Sensor Tower, there are reportedly still many users waiting on the wait list to actually use the app, for reasons that aren't really clear.
Trump himself has only posted one "truth" (their version of "tweet") in the six weeks since the launch. He has 848,000 followers on the app, which is a far cry from the 88 million followers Trump had on Twitter before he was banned.
Digital World Acquisition Corp (DWAC), the SPAC that Trump Media & Technology Group (TMTG) hopes to merge with to go public, slipped 10% in trading on the NASDAQ since this morning, and at one point was trading down over 11%.
The New York Times noted in February that TMTG was likely short on cash, which could have been complicating the app launch. This is because the merger with DWAC remains slowed by an SEC investigation. Blank-check companies like DWAC are not supposed to already have a merger target in mind when they raise money, and investigators have suggested that plans to merge with TMTG may have already being discussed last year when money was being raised. That investigation still has not concluded.
Meanwhile, Trump himself has an ongoing federal lawsuit against Twitter, arguing that he shouldn't have been permanently banned from the platform.
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