adplus-dvertising
Connect with us

Media

Here’s a great example of why people distrust the media

Published

 on


 









FILE - A sign for The New York Times hangs above the entrance to its building, May 6, 2021, in New York. The New York Times is getting rid of its sports department and will instead rely on sports coverage from its website The Athletic going forward, according to a report on the media company's website. The move impacts more than 35 people in the sports department. The report on Monday, July 10, 2023 said that journalists on the sports desk will move to other roles in The New York Times newsroom and that there were no planned layoffs. (AP Photo/Mark Lennihan, File)
FILE – A sign for The New York Times hangs above the entrance to its building, May 6, 2021, in New York. The New York Times is getting rid of its sports department and will instead rely on sports coverage from its website The Athletic going forward, according to a report on the media company’s website. The move impacts more than 35 people in the sports department. The report on Monday, July 10, 2023 said that journalists on the sports desk will move to other roles in The New York Times newsroom and that there were no planned layoffs. (AP Photo/Mark Lennihan, File)

Each year we are treated to new polling showing journalism as a profession falls in the public’s esteem somewhere between a third-degree rug burn and a debilitating brain freeze. And, as if like clockwork, we get a few “soul searching” opinion pieces and editorials.

Just as the the directors and actors of every big box-office bomb nowadays angrily blame the fans for their failures, the commentators in these pieces tend to blame the public for not understanding just how important their journalism is.

But just as one cannot argue an ex-girlfriend into loving you again, journalism will never earn back the trust of the public — at least not without significant changes.

To address the “significant changes” needed to attract a consistent audience again, you really only need to look back to what was written last week. And by “last week,” I don’t just mean the third full week of July — I mean the last seven days at any given moment. The rot in journalism runs a lot deeper than any one week or any one story.

Here’s a new favorite from the New York Times: “Nebraska Teen Who Used Pills to End Pregnancy Gets 90 Days in Jail.” Since most people can be counted on just to read headlines and skip the articles, the implication the editors of the Times wanted their audience to come away with was that this teenager is going to jail for having an abortion.

In fact, that’s not true, but you’d have to read to paragraph 16 of the article to understand that fully.

The piece opens with the implication this wasn’t an abortion story, but it’s deliberately obscured in the language of abortion. “A Nebraska teenager who used abortion pills to terminate her pregnancy,” it starts, “was sentenced on Thursday to 90 days in jail after she pleaded guilty earlier this year to illegally concealing human remains.”

If you read that far, you’re probably wondering what this “concealing human remains” part is all about. But you will have to read almost to the end to find out.

The next paragraph describes how the 19-year-old and her 42-year-old mother were discovered by authorities. “Facebook messages, which showed them discussing plans to end the pregnancy and ‘burn the evidence.’”

Note that “end the pregnancy” was listed first, even though that’s not even a crime and not what earned this teen a jail sentence.

The third paragraph states that “the mother had ordered abortion pills online and had given them to her daughter,” who was 17 at the time and already in her third trimester, meaning the baby would have been able to live outside the womb. This was a clear violation of Food and Drug Administration regulations, which state that abortion pills should be administered only in the first trimester.

But even so, this very medically dangerous and poor decision to use an abortion pill this way is not what got this girl into trouble.

Then, for a story written in New York about events that occurred in Nebraska, the Times quotes an associate law professor from the University of Pittsburgh. “This case is really sad because people resort to things like this when they’re really desperate, and the thing that makes people really desperate is abortion bans.”

That’s the perfect quote if you want to give the reader the wrong impression — which may be precisely why the Times reached out to someone so completely disconnected from the story.

As if to put more meat on the bones of an abortion-ban story, the Times writes, “According to prosecutors, Celeste Burgess used abortion pills long after the 10 weeks permitted by the Food and Drug Administration. Court records indicate that she was almost 30 weeks pregnant when she terminated the pregnancy — past the 23 to 24 weeks generally accepted as the point of viability, when a fetus would most likely be able to live outside the womb.”

Then you get to paragraph 16. “Prosecutors did not charge Celeste Burgess under Nebraska’s abortion law.” Yes, that’s right. A story that has been about abortion right up to that point finally comes right out and admits it was a bait-and-switch.

“She pleaded guilty in May to removing or concealing human skeletal remains, a felony. Prosecutors agreed to drop two misdemeanor charges against her: concealing a death and false reporting.”

She and her mother moved the body three times and set fire to it once before finally being caught. These details the Times causally mentions in the fifth-to-last paragraph.

The reality of the story makes you wonder why the Times would report it at all. The reason is the spin. They want to argue that Republicans have criminalized abortions and are even prosecuting women who have them. But the story is about criminal activity, not an abortion. The Times’s reporter and his or her editors had to know this, but someone made a choice to give readers the wrong impression because it fed a national political narrative they preferred.

So to sum up, if you want to know why the public distrusts the media so much, it’s because the media do so much to earn it.

Derek Hunter is host of the Derek Hunter Podcast and a former staffer for the late Sen. Conrad Burns (R-Mont.).

 

728x90x4

Source link

Continue Reading

Media

Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

Published

 on

Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

728x90x4

Source link

Continue Reading

Media

Arizona man accused of social media threats to Trump is arrested

Published

 on

Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

Continue Reading

Media

Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

Published

 on

Tech News in Canada

Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

Continue Reading

Trending