TRUE SOCIAL TOPPING APP STORE
AFTER LAUNCH ON SUNDAY.
JOINING ME RIGHT NOW DISRUPTIVE
RESEARCHING FOUNDER LOU, LOU,
GREAT TO SEE YOU, THANK YOU VERY
MUCH FOR BEING HERE.
LOOK AT THIS CHART YEAR TO DATE,
UP 80%.
WHAT DO YOU MAKE OF THIS MOVE
AND WHAT ARE YOUR EXPECTATIONS
FOR TRUTH SOCIAL?
>> YEAH, CRAZY, CRAZY TIMES.
I’D BE CRAZY TO BUY THE STOCK
BUT CRAZY TO SHORT IT BECAUSE
THIS IS A HYPED DRIVEN STOCK FOR
SURE.
IT’S UP 10X FROM WHEN THE SPAC
CAME PUBLIC, JUST ALL THE
INTEREST BASED UPON PRESIDENT
TRUMP HAVING A NEW VENUE TO SAY
WHATEVER HE WANTS AND I REALLY
HAVE TO TELL YOU THIS IS
PROBABLY NOT GOING TO BE A
POPULAR VIEWPOINT BUT I JUST
THINK THIS IS GOING TO FLAME
OUT.
I THINK YOU NEED TO BE ON A
PLATFORM THAT ISN’T
COMPARTMENTALIZED BY
CONSERVATIVES OR LIBERALS AND
INDEPENDENCE AND ALL HAVE TO BE
IN THE SAME PLATFORM TO HAVE
ENGAGEMENT AND TO SCALE AND I’M
NOT IMPRESSED BY THE LAUNCH.
THE NUMBERS RIGHT NOW ARE STILL
VERY MINUSCULE WHEN WE LOOK AT
THE OVERALL LANDSCAPE OF SOCIAL
MEDIA, 3.5 BILLION SOCIAL MEDIA
USERS, WE HAVE SEEN UPSTARTS
LIKE GETTR AND PAR ALREADY COME
OUT START AND FLAME OUT.
AND I THINK UNFORTUNATELY NO
DISRESPECT MR. PRESIDENT I THINK
THIS IS A SIMILAR OUTCOME HERE.
MARIA: WELL, WE WILL SEE, YOU
SAY CORRESPONDENT
PARTMENTALLIZING AND ONE OF THE
THINGS THAT YOU ARE SEEING IS
BECAUSE YOU ARE SEEING
COMPARTMENTALIZING ON THE OTHER
SIDE WHERE THEY ARE GOTTEN
CENSORED.
>> I AGREE WITH YOU ON THAT,
MARIA.
MARIA: YEAH.
>> I AGREE WITH YOU,
CONSERVATIVE VOICES HAVE BEEN
DROWNED OUT, HAVE BEEN
OVERLOOKEDED IN THE CONVENTIONAL
MEDIA FORMS.
THAT NEEDS TO CHANGE THAT.
THE WAY TO FIX THE PROBLEM IS
NOT TO GO OUTSIDE OF THE SYSTEM.
HONESTLY IF TWITTER WANTS TO
DISABLE TRUTH SOCIAL IMMEDIATELY
AND LET PRESIDENT TRUMP BACK ON
THE PLATFORM IT WILL BOOST
ENGAGEMENT AND MAKE TRUTH SOCIAL
DEAD ON ARRIVAL.
I THINK YOU NEED TO ACTIVE
DIALOGUE BETWEEN DIFFERENT
VIEWPOINTS.
YOU NEED CONTROVERSY TO SPUR ON
ENGAGEMENT.
NOW TO YOUR POINT --
MARIA: RIGHT, THAT’S THE WHOLE
POINT.
AND THAT’S THE WHOLE POINT OF
THIS.
>> THAT’S THE BIG PROBLEM RIGHT
NOW.
MARIA: THAT’S THE WHOLE POINT.
YEAH, THAT’S THE WHOLE POINT.
YOU’RE NOT GETTING THAT ON
PLACES LIKE TWITTER AND
ELSEWHERE BECAUSE THERE IS SO
MUCH CENSORING GOING ON.
DEVIN NUNES IS THE CEO OF THE
TRUMP MEDIA AND TECHNOLOGY
GROUP.
HE JOINED ME ON SUNDAY.
HERE IS WHAT HE SAID ABOUT TRUTH
SOCIAL, WATCH.
>> THIS WEEK WE WILL BEGIN TO
ROLL OUT PEOPLE ON THE APPLE APP
STORE.
THAT’S GOING TO BE AWESOME
BECAUSE WE ARE GOING TO GET SO
MANY MORE PEOPLE THAT ARE GOING
TO BE ON THE PLATFORM AND LOOK,
OUR GOAL IS -- I THINK WE ARE
GOING TO HIT IT.
BY THE END OF MARCH WE ARE GOING
TO BE FULLY OPERATIONAL AT LEAST
WITHIN THE UNITED STATES.
MARIA: I MEAN, I WOULD SAY YOU
DON’T REALLY WANT THIS TO BE A
GOVERNMENT PROBLEM, RIGHT, YOU
WANT TO CREATE COMPETITION AND
THAT FIXES THE PROBLEM OF
CENSORSHIP.
DO YOU NOT AGREE THAT IT’S
BETTER TO SEE MORE OUTLETS OUT
THERE THAT ARE TRYING TO COMPETE
AND CREATE COMPETITION AS
OPPOSED TO HAVING A NEW
REGULATORY FRAMEWORK THAT TELLS
THESE COMPANIES HOW TO BEHAVE?
>> NO, LOOK, WE ARE IN PERFECT
ALIGNMENT PHILOSOPHICALLY, I
HATE BIG GOVERNMENT.
I’M BEING A REALIST AS ANALYST
AND INVESTOR AND SAYING LET’S
LOOK AT THE VALUATION AND WHAT
IS THE PROPOSITION OF THE NEW
COMPANY TO SCALE AND I JUST
DON’T SEE IT HAPPENING.
THERE’S NOT GOING TO BE MUCH
INTERNATIONAL APPEAL TO BECOME A
VIABLE INVESTMENT THAT JUSTIFIES
A 3 PLUS BILLION DOLLAR
VALUATION.
YOU NEED TO HAVE 50 MILLION
USERS, 101 MILLION USERS GET TO
301 TO 401 LIKE YOU SEE WITH
TWITTER AND SNAP AND I DON’T
KNOW IF IT’S REALISTIC IF IT’S
JUST A PLATFORM FOR UNCENSORED
CONSERVATIVE OR MORE
CONSERVATIVE VOICES.
I THINK, YOU KNOW, AGAIN, I HATE
TO SAY THIS, WE HAVE BEEN
TALKING ABOUT BIG TECH
REGULATION.
I’VE BEEN ON SO MANY TIMES
TALKING ABOUT IT FOR YEARS,
SOMETHING NEEDS TO BE DONE TO
OPEN UP SO THAT VOICES CAN BE
HEARD ON THE PLATFORMS THAT ARE
THE BIGGEST.
COMPETITION IS GREAT, IT’S
HEALTHY, I JUST DON’T KNOW THAT
TRUTH SOCIAL HAS A COMPETITIVE
EDGE HERE.
AND KEY POINT I DOWNLOADED THE
APP YESTERDAY, YOU HAD, HEY, WE
ARE GOING TO BE FULLY SCALED AND
LAW FIRMED MARCH 31ST, I’M GOING
TO SAY PROBABLY NOT.
THE MESSAGE I GOT YESTERDAY IS,
WE WANT YOU TO KNOW THAT YOU’RE
NOT JUST A NUMBER, WE LOVE YOU
BUT HERE IS YOUR NUMBER ON THE
WAIT LIST.
I’M 501,325.
MARIA: YEAH.
>> THEY CAN’T ENVOY ALL THE
USERS.
THAT’S A KEY PROBLEM FROM A
BUSINESS STANDPOINT RIGHT OUT OF
THE GATE.
MARIA: IT ALSO SHOW IT IS
DEMAND.
BUT I WANT TO GET YOUR TAKE ON
SOME OF THE POLICIES AND REALLY
DISRUPTIVE POLICY ON BIG TECH.
NEW REPORT FROM POLITICO SHOWS
THAT AT LEAST 17 LAWMAKERS
TASKED WITH OVERSEEING AND
REGULATING BIG TECH HAVE
CHILDREN THAT PREVIOUSLY OR
CURRENTLY WORK FOR META, AMAZON,
GOOGLE AND APPLE.
AMONG THE LIST SENATE MAJORITY
LEADER CHUCK SCHUMER WHOSE TWO
DAUGHTERS WORK FOR AMAZON.
CHRIS VAN HOLLAND, DO YOU THINK
WE ARE ACTUALLY GOING TO SEE
LEGISLATION THAT -- THAT KEEPS
THESE COMPANIES ACCOUNTABLE?
WE ARE DOING A BIG SPECIAL ON
FOX NATION THIS WEEK WHERE I WAS
ABLE TO SPEAK WITH PARENTS AND
FAMILIES WHO HAVE SERIOUS
CONCERNS ABOUT WHAT’S GOING ON
ON SOME OF THESE PLATFORMS.
I MEAN, TAKE THE CHALLENGES FOR
ONE.
THE CHALLENGE OF SWALLOWING
LAUNDRY DETERGENT AND THE
CHALLENGE OF DANCING AND JUMPING
OUT OF MOVING VEHICLE SO THAT
YOU CAN DANCE AND LAND ON YOUR
FEET, THE CHALLENGE OF GETTING
YOUR BELT AND SEEING HOW TIGHT
YOU CAN TIGHT AROUND YOUR NECK.
SOME OF THESE THINGS ARE
ABSOLUTELY OUTRAGEOUS AND THEY
ARE STILL THERE ON SOCIAL MEDIA,
NOT TO MENTION THE HOW TO.
I DON’T WANT TO TELL YOU THE HOW
TO’S THAT I FOUND ON YOUTUBE.
HOW TO I’M NOT GOING TO
CONTINUE.
>> NO, LISTEN, I HAVE TWO
TEENAGE KIDS.
I DON’T WANT THEM GETTING ON
THERE ANYMORE EITHER BECAUSE OF
THESE THINGS.
WE TALKED ABOUT IT.
THE FACEBOOK FILES HAVE SHOWN
SOCIAL MEDIA HAVE NEGATIVE
EFFECTS PARTICULARLY FOR YOUNG
WOMEN WHICH WE CAN’T IGNORE BUT
HERE IS THE THING, THE TANGLE
WEB THAT POLITICIANS WEAVE,
THEIR KIDS ARE WORKING FOR BIG
TECH WHICH THEY WILL TRY TO
REGULATE.
IT’S ONE THING TO SAY YOU’RE
GOING TO BE TOUGH ON BIG TECH
AND TOUGH ON CRIME BUT WHAT
HAPPENS WHEN YOUR KID IS THE
CRIMINAL?
THIS IS A TRUE LITMUS TEST HERE.
OUR POLITICIANS REALLY GOING TO
BACK THEIR TOUGH TALK?
I HAVE A HARD TIME BELIEVING
WHEN SOME OF THEIR KIDS ARE
ACTUALLY LOBBYISTS FOR BIG TECH.
ANY ACTION TO MODERATE THE
CONTENT.
WE TALKED ABOUT THIS BEFORE,
MARIA, FACEBOOK HAS MADE
EXCUSES.
WELL, THE PLATFORM IS TOO BIG,
WE CAN’T MODERATE THE CONTENT.
THAT’S A BUNCH OF MALARKY.
THEY KNOW THEY CAN MODERATE THE
CONTENT.
THEY HAVE PLENTY OF MONEY TO DO
IT.
THEY ARE TENS UPONS BILLIONS OF
DOLLARS A QUARTER.
THERE’S JUST NO EXCUSE FOR IT
ANYMORE.
IT’S TIME FOR POLITICIANS TO
FORCE THEIR HAND AND I DON’T
KNOW IT’S GOING TO HAPPEN.
MARIA: SENATOR MARSHA BLACKBURN
DOES THINK THAT HER LEGISLATION WILL GO UP AND MOVE AND COME UP
WILL GO UP AND MOVE AND COME UP
FOR A VOTE, HER AND RICHARD