If these numbers are hard to process, think of it this way.
Your lemonade stand has pulled in $8 dollars in cash. To get the $8 dollars, though, you spent $443 making the lemonade.
That’s right. You spent $443 to collect $8. Total loss: $435.
Is this a promising business? No. It’s no business at all.
But you tell passersby, “Look at my thriving lemonade stand!” And they decide your business is actually worth $47,000. https://mastodon.social/@jeffjarvis/114959489116169895
Or, maybe there's a different explanation.
Maybe it's not a tech company, it's a political influence front.
So, yes, they only make $8 selling lemonade but this person also has the magic crayon that writes the winning lotto numbers.
Doesn't matter how much he loses, you prop up the lemonade business to get the numbers. As a side benefit, they don't send a mob to burn down your house because you don't like lemonade.
I honestly thought this was a post about GenAI revenues/losses in the style of Ed Zitron
That it turned out to be That Guy instead does not make me feel better about either project
But you convince somebody lemonade is the new best thing so they buy your money losing lemonade stand for $100,000 because you convinced them it will be worth a million dollars in three years.
@gleick impressive insofar as they started with mastodon and didn’t even need to write a platform
maybe he should hire doge to fix his balance sheet
fwiw, a link to the TMTG page that has their filing info:
https://ir.tmtgcorp.com/financials/sec-filings/
it seems like the SEC has not posted the most recent reports:
@gleick truth social isn't in the social media business, it's in the "selling shares of garbage to retail idiots" business (which unfortunately for the world is currently by far the most profitable kind of business to be in. just look at the explosion of the "borrow money to buy crypto" industry in the last few months)
https://www.wsj.com/finance/currencies/crypto-treasury-e7ae573c
James Gleick
TC Won't Give In To Lies
Dubi is here 
Jeremy Kahn
Richard W. Woodley ELBOWS UP 🇨🇦🌹🚴♂️📷 🗺️
definitely just a musician
cceddie
⚯ Michel de Cryptadamus ⚯
Jørn