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davidagain ,

Loser.

tal ,
@tal@lemmy.today avatar

I mean, Trump is doing very well out of this. The people who listened to him and bought stock in the thing are another story.

pineapplelover ,

Iirc they only brought in like 300k in revenue. Somebody fact check me but it was definitely between 300k-400k in revenue. So that net loss is fucking insane.

wintermute_oregon ,

It in the article

Trump Media, which owns the Truth Social app often used by the former president, also reported revenue of just $836,900 for the quarter ending June 30, a 30% drop from the same period in 2023

pineapplelover ,

800k. I was a bit off

wintermute_oregon , (edited )

If the numbers are content. That’s about 3.2 million in revenue and 64 million loss per year.

While people want to clap over that. Many companies are not profitable their first few years.

I work for a tech company. We are well known, bring in billions but one made a profit once or twice in twenty years.

Prior company the same.

It’s amazing that you can bring in billions and still not make a dime

Eccitaze ,
@Eccitaze@yiffit.net avatar

There’s a world of difference between not having any profit because you’re aggressively reinvesting it into your business, and not having any profit because you spent 16 million to keep the lights on for a service that brought in approximately 5% of what you spent.

wintermute_oregon ,

That’s not uncommon through. Meta, twitter, etc didn’t have any real revenue for years. I think truth will last through the year and then die off unless Trump wins. Maybe two years. Hell I’m a conservative and I don’t know anyone who uses it. I would say it means more maga and once Trump is gone, it’ll die off.

Carrot ,

Big companies do this on purpose. They want their earnings and their expenses to match up as close as possible, because companies don’t pay any taxes on money spent on making money, only on profits. So if a giant company is in the red, the vast majority of operating expenses are tax deductible

wintermute_oregon ,

It’s also hard to turn a profit. People think running a company is easy. It’s not. Employees, health care, etc all add up. Hell when we sell software, it takes a few years to break even on it and our margins are 95%+. Out ceo doesn’t care about paying taxes. Most don’t. They’d rather be profitable but that’s a tough goal to achieve on a consistent basis.

Tja ,

If you revenue grows 100% YoY and you are investing in growth, sure. I work for a 15 year old company that is just starting to become profitable, still growing well into double digits.

None of that is true here.

wintermute_oregon ,

Put it in perspective. Twitter, Facebook, both had higher expenses and less revenue at the same mark.

Truth has 600k active users a month which isn’t bad for a two year old company

I just see it as a fad that won’t last.

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