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Reckoning With Ghosts of Social Media Past – The New York Times

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4 years ago

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Send questions about the office, money, careers and work-life balance to workfriend@nytimes.com. Include your name and location, or a request to remain anonymous. Letters may be edited.

My social media presence from high school and college includes everything from photos of theme parties and Halloween costumes I now understand as cultural appropriation, to banter with friends in which we casually invoked racist or sexist stereotypes.

While I could dismiss this as youthful ignorance, it doesn’t change the fact that my behavior a decade ago was harmful. Would it be selfish to remove the evidence of my mistakes? Or would it be worse to have processed the toxic nature of these posts and allowed them to stay up? I am not seeking credit or absolution, but I want to do the right thing.

— Anonymous

When a public figure is taken to task for their social media history, I wonder why they did not do themselves the favor of cleaning up their online presence as their public profile grew. I am never sure if they are so comfortable with their past behavior that they don’t think it should be erased or if they are so clueless about how fame functions that they don’t consider the ways in which their past will come to light.

That said, you ask an important question. The short answer is: Clean up your social media. If there are people to whom you need to make amends, do so. You’re an adult now, so act like one. We have all made mistakes, and sometimes there is glaring evidence of those mistakes. You are doing the necessary work of interrogating your past and I commend you for taking responsibility and not merely dismissing your actions as “youthful ignorance.” You were young and ignorant, yes, but that doesn’t make the behavior less toxic.

You aren’t making some noble gesture by leaving your checkered past in plain sight for anyone to stumble upon. You aren’t hiding anything by deleting social media posts from a decade or more ago. By cleaning up your online presence, you are demonstrating an awareness that social norms change and that you, like nearly everyone, harbor or once harbored prejudices.

What’s important is taking stock of who you are and how you behave both on and offline, now. Do you hold yourself accountable for what you say and do? Do you hold the people around you accountable when they say racist or misogynist or other bigoted things? Do you advocate for marginalized people as much as you advocate for yourself? Flagellating yourself over your social media history doesn’t accomplish anything. Actions speak far louder than words. Do the work, every day, of being actively anti-racist and feminist. Forgive yourself for your past and honor a promise to yourself that you will never be that person again.

I manage two men who are younger than me. They have a lot of potential and a genuine passion for the work we do. But they won’t ask me for help. From their work product, it’s obvious that they struggle. They hide any problems from me until the last minute, and then turn in work that is far below my expectations. To work around this, I generally tell them that the deadline is a week before it actually is, and when they turn in a terrible first draft, I work through it with them. Or I just redo it.

Am I doing the right thing? How do I give them the confidence to ask me for help?

— Anonymous, San Mateo, Calif.

Your employees are grown-ass men in a professional environment. Stop babying them! It is not your job to do their job in addition to yours. Potential and passion are well and good, but competence is just as important. Mentorship is not synonymous with mothering. You are enabling their refusal to ask for help.

Be honest about what they are doing well but also how their work product is falling short. Establish a timeline for them to improve and identify consequences you follow through on if they don’t learn how to collaborate with you and produce better work. Make it clear (even though you already have) that you are not only their leader, you are also a knowledgeable and willing resource to help them become stronger and more effective employees. That is all you can do. If their masculinity is so fragile that they cannot ask for help and improve their work, I assure you there are other people on the job market who will not need to be work-parented. I do not say this lightly but if they cannot rise to the occasion, find employees who will.

I’m employed at a consulting organization. The founders are three middle-aged white men who come from family money. Employees are nearly entirely women, many of color, single and in their late 20s-early 30s. There are a handful of other employees, people of color, in their late 30s-early 40s with young kids.

Everyone’s salaries and bonuses are transparent. Performance reviews are done with care. The founders provide benefits linked to their values. But there is one major aggression — the founders LOVE white people activities like skiing, sailing, etc., and team building is centered around such activities. Lots of people don’t want to do them. It is seemingly impossible to move into middle management if one does not engage in these team building days.

What would be a good way to change this aspect of the culture?

— Anonymous

I cannot stand mandatory fun — any sort of activity or potluck or other gathering with co-workers that demands your presence either implicitly or explicitly. The expectation that you should work a rigorous schedule and also spend your free time with your colleagues instead of your friends and family is exhausting and ridiculous.

That your founders, who seem like decent guys, don’t understand that not everyone enjoys their very expensive, very white pastimes is willful. They choose not to understand why their employees may not know how or want to alpine ski or sail free solo or whatever because they can cosset themselves in that way.

I don’t know if you can change the culture at your organization — the founders are who they are. But you can be honest about the bias inherent in pairing team building and professional advancement with exclusionary activities that employees may not be familiar with or interested in for any number of reasons including race, class, gender and ability. Even if someone has already raised this, do so again, and suggest more inclusive team building activities. You might also mention how women, for example, struggled to advance in certain industries because of all the business meetings and networking that took place on golf courses and in strip clubs and bars after work when they were taking care of their families. (This is, in fact, still a problem in certain sectors.)

Your founders see themselves as good guys but there is room for improvement. If they are as aligned with their values as you suggest, hold them to that by demanding this very reasonable accommodation.

Roxane Gay is the author, most recently, of “Hunger” and a contributing opinion writer. Write to her at workfriend@nytimes.com.

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

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3 weeks ago

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August 23, 2024

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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.

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Arizona man accused of social media threats to Trump is arrested

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3 weeks ago

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August 23, 2024

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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.

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

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3 weeks ago

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August 20, 2024

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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.

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