Connect with us

Media

Trump’s New Social Media Company Is His Biggest Scam Yet – Vanity Fair

Published

 on


TRUTH Social will probably be a flop, but Trump is likely to make hundreds of millions anyway.

As you’ve no doubt heard by now, Donald Trump announced Wednesday night that he will be launching his own social media network, the embarrassingly named TRUTH Social. For those of you scratching your heads and wondering, But wait, didn’t Trump already launch a new social media company? you are likely thinking of (1) one of the right-wing networks tangentially associated with the ex-president, like Gab, Parler, or Gettr, or (2) something called “From the Desk of Donald J. Trump,” the blog that published Trump’s comments and was shut down after just a month because it had almost no readers.

Obviously, the lack of readers was upsetting to the former president, who spent much of the last decade tweeting every deranged thought that came into his head, from “I would like to extend my best wishes to all, even the haters and losers, on this special date, September 11th” to “NEVER, EVER THREATEN THE UNITED STATES AGAIN OR YOU WILL SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE” to “An ‘extremely credible source’ has called my office and told me that @BarackObama’s birth certificate is a fraud.” Unfortunately for Trump, his ban from Twitter, on account of inciting an insurrection, remains in effect. Hence, TRUTH Social.

Like most Trump initiatives, TRUTH Social is incredibly cringeworthy and embarrassing. For one thing, before it even launched, per The Washington Post, patriotic pranksters were able to find a seemingly unreleased version and post “a picture of a defecating pig to the  ‘donaldjtrump’ account,” causing it to be pulled offline. For another, the network’s terms of service dictate that users must refrain from “excessive use of capital letters,” i.e., the only way Donald Trump knows how to type. Then there’s also the fact that TRUTH Social, billed as a vehicle for “stand[ing] up to the tyranny of Big Tech,” which conservatives claim hates free speech, prohibits users from saying anything to “disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site.” Meanwhile, the whole thing is basically a crappier version of Twitter. Per the Post:

The site looks almost entirely like a Twitter clone: A user can post Truths, which are like tweets, or Re-Truths, which are retweets. There’s also a news feed, called the Truth Feed, a notification system so users can know “who’s interacting with your TRUTH’s,” the social network’s App Store profile states.

So yes, the whole thing already looks like a big flop that will no doubt have very few users, and Trump himself will probably get bored of the app and only post there sporadically. But in this case, it doesn‘t actually matter, and Trump might have actually figured out a way to make millions despite the product being a joke. How? We’re glad you asked!

TRUTH Social is being formed through a merger of a new company set up by Trump, the Trump Media & Technology Group, and a special purpose acquisition company, a.k.a. a SPAC. SPACs, which are all the rage these days for reasons that will soon become clear, are shell companies that are listed on exchanges like the NYSE or the Nasdaq and exist for the one and only purpose of merging with companies that want to go public—like the Trump Media & Technology Group. In this case, the SPAC TMTG will merge with is called Digital World Acquisition Corp., which is run by a guy named Patrick Orlando, a former investment banker who once cofounded a sugar-trading company. As Axios’s Dan Primack tweeted this morning, “Trump social media SPAC thing filed SEC paperwork this morning, but it’s basically just the press release again. Nothing of substance, including management, etc. So far, this is a shell buying a shell.” Normally, this would be pretty embarrassing for a company, but in this case, due to the SPAC of it all, plus Trump’s uniquely gullible supporters, it doesn’t matter.

As Bloomberg’s Matt Levine writes:

I am not going to pretend to make a business case for [a Trump social media network]—there is a long history of hilarious failure in the “social media for Trump” category—but maybe you can. It is not a sure thing, in any case. Maybe it would work, maybe it wouldn’t. When Twitter Inc. went public, it had never been profitable, and it was, you know, a real social network that people used. Maybe Twitter But Trump would immediately be profitable, but boy, I have some doubts. On the other hand, if Donald Trump launched a company that was like, “I am going to start a social media platform for Trump fans,” could he get people to buy the stock? I think that two fundamental lessons of the last few years are:

  1. You can get people to buy any stock; and
  2. Donald Trump can get people to buy anything.

So if Donald Trump announced, “Hey, I’m gonna do a social media company, buy some stock,” people would buy some stock. And then he’d get a lot of money. And then if the social media platform did not end up being profitable—as I cannot imagine it would be!—then he would, uh, still have that money? And if the social media platform did not end up being launched—if Trump and his crack team of technologists just couldn’t actually build a well-functioning online social network—then he would, uh, still have that money? And if there was no crack team of technologists at all, if nobody even tried to build the social media platform—then you see where I am going with this, right?

The point is that if you launch a company with the goal of making it profitable, you have to, like, have a workable business plan and execute on it and deal with a million different operational complexities. If you launch a company with the goal of selling a lot of stock, you have to get people to trust you and give you their money. There is some overlap between those things! But they are different things!

As Levine notes, and as we’ve learned from other SPACs over the last few years, “if you go public by merging your private company with a special purpose acquisition company, then you can just make up whatever you want and no one will check.“ Is that actually the law? No, but in practice, it’s basically how SPACs work and is obviously incredibly appealing to Team Trump. Basically, they can get rich without actually having a profitable or even functioning social media network.

Here’s Levine again:

Traditionally, SPAC deals are often announced with PIPEs, private investments in public equity, in which institutional or strategic investors commit hundreds of millions of dollars of their own money alongside the SPAC investment. Here, there is no PIPE; no institutional investors seem to be involved. Trump Very Tech Company Group is raising its money only from public investors in the SPAC.

Ordinarily, that would be risky: The SPAC investors have withdrawal rights—they can take back their $10 per share in cash, plus a little interest, instead of leaving it in the pot for the merger—so the company might not get any money. Here, it is not risky. The reason it is not risky is that people who like Trump will buy the stock. (Also: People who think “people who like Trump will buy the stock” will buy the stock; the Keynesian beauty contest applies here too.) Yesterday, before this announcement, DWAC’s stock closed at $9.96, a bit below the approximately $10.20 per share that it has in its trust, sort of a standard price for a SPAC with no deal yet. At 11 a.m. today it was trading at about $19.38, implying a valuation for Trump Thing of something like $1.7 billion. If you think Trump Thing is worth $19.38 per share, you are not going to take your $10 back; you’re going to keep the stock and let Trump have your $10. He will definitely get all $293 million.

Want proof? Here’s some depressing news from CNBC:

The stock price of SPAC company Digital World Acquisition Corp. skyrocketed on extremely heavy trading volume Thursday after news of a merger that would launch former president Donald Trump’s planned social media platform. DWAC’s stock surged 356.8% to close at $35.54 per share. Trading in the SPAC was halted multiple times due to volatility. At one point the stock was up more than 400% to hit a high of $52.

Digital World Acquisition was the single most actively traded stock on the Fidelity platform Thursday, and was by far the most traded name on the consolidated tape of New York Stock Exchange and Nasdaq listings. More than 470 million shares of DWAC changed hands during Thursday’s session, according to FactSet. In comparison, SPY, the exchange-traded fund that tracks the S&P 500, only traded about 32 million shares.

So yeah, TRUTH Social appears to be just as much of a joke as “From the Desk of Donald J. Trump,” but in this case, Donald J. Trump might actually make some real money off of it, which he definitely needs considering he’s reportedly in debt for $1 billion.

If you would like to receive the Levin Report in your inbox daily, click here to subscribe.

Joe Manchin says Dems are unlikely to reach an agreement on social safety net programs “anytime soon”

Conveniently, the senator from West Virginia left out the part about how he is the one leading the charge to scale back initiatives that might actually help people, many of whom are children. Per Reuters:

Democrats have spent months arguing about the size and scope of what was initially proposed as a $3.5 trillion plan to expand the social safety net and fight climate change, which Democratic leaders have agreed this week will be cut to well below $2 trillion. Manchin—who along with fellow moderate Senator Kyrsten Sinema has been pushing for a smaller package—had said earlier he believed Democratic negotiators could settle on a final figure by Friday. That would resolve a key sticking point, although progressives and moderates would still have to sort out the substance of the bill, including what programs to keep, what to cut, and how long to fund them.

Fellow Democratic Senator Ben Cardin said he expected Democrats would agree on a total price tag within the next few days, leaving lawmakers to fill in the details. “I think they’ve got to stay in over the weekend to try to get this resolved,” he said. Biden told lawmakers on Tuesday he thought he could get Manchin and Sinema to agree to a figure in the range of $1.75 trillion to $1.9 trillion, according to a source familiar with the talks, who spoke on condition of anonymity.

Getting to that number would mean giving up priorities, including a plan to offer all Americans the opportunity to attend two years of free community college, and scaling back others such as a child tax credit and funds for affordable housing.

Manchin has been adamant that child tax credits must include work requirements, which, among other things, would penalize households in which children are being raised by their grandparents. He has also explained to protesters that he doesn‘t support the expansion of Medicare from the deck of his yacht.

Don’t be coming at Republicans with facts!

Elsewhere!

FDA authorizes Moderna and J&J boosters, says people can get a shot different from original dose (The Washington Post)

Pfizer-BioNTech Booster Shot Restores Full Covid Protection (Bloomberg)

Democrats Look for Tax Options If They Have to Ditch Rate Hikes (Bloomberg)

Texas targets Roe v. Wade, urges U.S. Supreme Court to maintain abortion ban (Reuters)

The Elizabeth Holmes trial: The prosecution produces a smoking gun (Insider)

Prosecutors urge conviction of Giuliani associate (Politico)

Grateful Dead T-shirt auctioned for a record-breaking $17,640 (UPI)

Accused Burglar Said Motive Was Desire to “See His Imaginary Girlfriend Emma” (TSG)

Pablo Escobar’s Cocaine Hippos Are Legally People, Court Rules (Gizmodo)

More Great Stories From Vanity Fair       

— How Sarah Everard’s Murder Revealed Feminism’s Fault Lines
Trump May Be Hit With Charges for Trying to Overturn the Election in Georgia
— Congressman Adam Schiff Describes January 6 From the House Floor
— Surprise: Ivanka’s to Blame for Trump’s Disastrous COVID Address
— Inside a Father’s Desperate Quest to Sue the Juárez Cartel
Democrats’ Last, Best Hope May Be…Conor Lamb
— Cori Bush Is Ready to Talk About Her Abortion
— Jared and Ivanka Fancy Themselves the Duke and Duchess of South Florida
— From the Archive: The Vicious Rivalries That Brought Down the Gucci Dynasty
— Not a subscriber? Join Vanity Fair to receive full access to VF.com and the complete online archive now.

Adblock test (Why?)



Source link

Continue Reading

Media

12 Healthcare Provider Pharma Social Media Predictions for 2022 – Pharmaceutical Executive

Published

 on


The adoption and growth of social media for healthcare providers (HCPs) will continue apace in 2022. Social behaviors initially prompted by COVID-19 have become standard operating procedures. Embracing nuances and developing new approaches will distinguish effective competitors from also-rans. For pharma marketers, discerning effectiveness of social media marketing and convincing or finessing conservative medical-legal reviewers will continue to be primary challenges.

Looking ahead, consider these 12 emerging factors:

Investigate Influencers. Self-appointed digital opinion leaders are drawing significant numbers of HCPs into surprisingly detailed scientific and clinical interactive conversations on both public and private social media platforms. Initiated in the scramble to treat COVID-19, the availability of peer-to-peer engagement continues to intrigue and attract generalists and specialists. Pharma marketers are watching this phenomenon anxiously from the sidelines, fearful about the lack of pre-approval and content control, knowing that an organization with a hearty risk appetite will probably claim the high ground, engage influencers in potent promotional activities, and score a competitive advantage.

Manage the Metaverse. Pharma marketing has been on the cusp of embracing simulations, gamification and virtual (VR) or artificial reality (AR) for several years. The technology enables a robust creative pallet for illustrating how medications work or how procedures are done. HCP digital natives expect brands to use these familiar approaches to interact, educate and engage them by telling compelling disease awareness or brand specific stories.

Watch Walled Gardens. The major private peer-to-peer gated HCP communities all experienced significant membership and usage spikes as a result of the pandemic. Platforms like Sermo, Doximity, Skipta, Medscape, and G-Med added features and functions, often in parallel with each other. Look for continued efforts to increase traffic, expand frequency of sessions, build longer sessions, expand content, and stimulate conversation and interaction within specialty newsfeeds.

Optimize On-Demand. The COVID-19 driven default to digital communication channels prompted HCPs’ expectation of on-demand messaging. They expect to have pre-recorded or digitized content available when and where they are ready to access it. Videos, infographics, interactive presentations, clinical data sets and games will be critical elements of every brand’s non-personal promotion (NPP) arsenal.

Activate Allied Professionals. Nurse practitioners, nurses, physician assistants, and other professionals are critical members of the care team, often spending the most time with patients and delivering an array of treatments and services. Prominent in social media, they are chronically underserved by pharma marketers who tend to focus time and attention on physicians. Savvy marketers will embrace these populations, carve out budget to reach and persuade them, and dedicate resources to educate and engage them.

Call an Audible. Audio promotion, prompted by the explosion of podcasts and the instant popularity of Clubhouse, will find a place in pharma NPP. Podcasts by HCPs and hospitals increased 40% in 2021 over 2020, according to RadioMD. Audio tracks featuring key opinion leaders (KOLs) and panel discussions will be recorded and posted on websites, Spotify, and social media pages. Voice tracks will animate ads on platforms like Twitter and LinkedIn while marketers try to wrestle with the med-legal challenges of live audio. Also consider changing SEO tactics to align with the steady growth of live audio search.

Gauge Groups. The pandemic prompted a spate of HCP group formation on virtually every platform. From journal clubs to ad hoc diagnostics, HCPs rallied to connect and share with peers. Some groups are open, others are cautiously private. Medical science liaisons (MSLs) should transparently join relevant groups to understand and gauge the tone and direction of the conversations and to insert clinical or scientific information where and when appropriate.

Mobilize MSLs. The rising demand for peer-to-peer conversation and consultation opens new avenues and new access for medical science liaison staff to interact with HCPs. The roles of reps versus MSLs as well as the practical definition of promotion is changing. Sharing data, real world evidence, and common experiences, these specialists must play a greater role in pharma marketing to build confidence and credibility among a skeptical population of practicing HCPs.

Promote Patient Programs. The more complex the disease; the more complex the patient paperwork and adherence challenges. Beyond diagnosis and treatment, patients turn to their HCPs for educational materials, pre-authorization, co-pay cards, samples, dosing schedules, and dedicated customer service resources. Pharma marketers are expanding these toolsets and HCPs are eager to obtain and distribute them. 75% of physicians, in a HealthLink Dimensions survey, said they use patient education materials when provided to them. Look for expansion in the number of services offered and the number of pharma brands offering patient support.

Emphasize Engagement. Changing or cementing on-going relationships between pharma and HCPs, HCPs and patients, or hospitals and patients or caregivers is on everyone’s 2022 agenda. Replacing incidental or transactional contacts with sustained interactions will require a different content and contact strategy delivered through a mix of channels. Look for her and ePrescribing vendors to tout their advanced analytics capabilities to predict and transmit the right message to the right patient or HCP at the right moment for optimal impact. Gaining access to the right data and finessing privacy protocols will make or break these claims.

Exchange Data. Google, Apple, and Epic (Fitbit, Apple Watch, MyChart, respectively) are leading the way in building mobile monitoring technologies that collect and traffic real-time health data. The long-term goal is to improve care, react to individual metabolic changes, drive adherence, educate patients, centralize, and synchronize medical records, and predict or anticipate health incidents or needed treatments or procedures. There is a robust pipeline of tools and wearables in development though real-world uptake and substantial diagnostic or treatment benefits have yet to be documented. Imagine the behavior and workflow changes necessary for HCPs when they are confronted with real-time data streams from multiple patients who expect quick, expert reading and reactions. The practical value of these technologies will be scrutinized and debated in the new year.

Redefine Reps: Declining rep access to HCPs and institutions, exacerbated by the pandemic, will force an essential rethinking of pharma’s oldest and best promotional device. There is a clear difference in expectations for the role of reps. HCPs think reps should traffic samples, patient education materials, and pizza. Pharma marketers think reps should prompt brief clinical or scientific conversations and traffic datasets, trial results, or journal articles. Getting both parties on the same page and reestablishing live in-person or live digital encounters is a topic sure to percolate throughout 2022.

Recovering and learning from the pandemic will further set the agenda for pharma marketing in 2022. Savvy marketers will be addressing these dozen issues which will certainly transform the playing field.

Danny Flamberg is the VP Strategy of LiveWorld

Adblock test (Why?)



Source link

Continue Reading

Media

How do we win the war for media and innovation talent? – European Broadcasting Union

Published

 on


EBU Director of Technology & Innovation Antonio Arcidiacono

Antonio Arcidiacono, EBU Director of Technology & Innovation

This blog post first appeared as the editorial piece in issue 50 of our tech-i magazine.

To guarantee the future growth of public service media, and prevent the global media companies from using their market power to absorb the limited talent available, we need more than ever to invest in our future. This is about the skilled people whose presence in our organizations is a prerequisite for mobilizing and sustaining innovation.

We need to redouble our efforts to create growth. The defensive stance that is the more typical response to a critical period cannot be what drives our efforts. It is only by offering a growth perspective to the youngest generations that we can gain their belief in what we do and, later, the energy injection that is necessary to take us to a stimulating and sustainable future.

A new generation

We are today engaged in a war for talent; winning that war requires a renewed effort to educate a new generation of young media scientists, engineers, technologists and creators. This generation of digital natives is no longer confined to working in one domain, which in the past would have dictated their academic path. Their common humanist background is founded upon an inherent understanding of the importance of trust, rigour, and excellence, of having an open and curious mind, and the ability to engage in deep analysis.

To build our future and guarantee a continuous and increasing flow of energy, we now require new talent, ideas and initiatives at the edge of innovation. To start with we must target deeper collaboration between EBU Members, our T&I team and leading European universities interested in media innovation and related educational activities, as well as other private institutions interested in joining such an initiative.

More concretely, the idea is to actively foster the creation of new curricula in media innovation, whether as graduate courses or vocational training. In addition to cutting-edge technical training, such courses must stimulate the creativity of younger generations, with additional focus on media literacy to develop fundamental skills in producing and managing media content. As we evolve towards ever more immersive experiences, including the prospect of participating in a virtualized ‘metaverse’, citizens must be empowered with knowledge that gives them mastery over the media they consume, instead of being dominated by it.

Human skills

The idea of combining the development of creative and technological skills does not necessarily mean that everyone should be able to shine at the same time in technology and artistic creativity. Rather it is about promoting a positive dialogue across the full spectrum of human skills. (I say this as an engineer with a creative spirit: I studied piano for many years without taking the path towards being a professional pianist. This creative endeavour gives me an additional pleasure and insight when listening to any music but also a wider vocabulary when it comes to exchanges with colleagues in the creative sector.)

It has become more important than ever to provide the knowledge and ability to any university student, and in fact any citizen, to use tools that underpin our new ways of working, accelerated by the COVID crisis, as well as to interact in this rapidly changing media world. This imperative will strongly influence how media R&D&I will be structured. We need to proactively help setting the reference strategies and related technologies that will get us there.

This new ability to attract, reach, communicate and debate represents an additional growth opportunity for society, limiting disinformation, improving citizens’ education, and giving voice to a larger share of the population. We must take steps now to ensure that our youngest generations will not only help define their own future but also be actively involved in the democratic evolution of society.

In the end, this is a joyful and invigorating challenge: extracting and guiding the energy of new generations to rejuvenate our world and reinvent our future!

P.S. I hope you enjoy the 50th issue of tech-i. Since 2009 it has chronicled a period of profound change in our industry (see pages 10–11). Let’s see what we will achieve together in the next ten years, pushing forward our digital transformation!

Adblock test (Why?)



Source link

Continue Reading

Media

Media Beat, Dec. 02, 2021 | FYIMusicNews – FYI Music News

Published

 on


Shaw Communications is too risky, this portfolio manager says

Whether or not the deal with Rogers goes through, Canadian telecom provider Shaw Communications is too much of a risk, says John Zechner of J. Zechner Associates, who argues that investors should have some of the telcos in their portfolios, just not Shaw at this point in time.

“When Shaw was trading at $36 [after the merger was announced], the upside was ten percent and the downside if something negative happens with the deal, I thought, would be it’ll be back in the low $20s or mid $20s against. So, on a risk/reward basis I thought I’d rather shift to Rogers which if the deal didn’t go through, there certainly wasn’t the same downside,” said Zechner, speaking on BNN Bloomberg on Monday. – Jayson MacLean, CanTech Letter

What Rogers says

With Rogers and Shaw together, thousands of new jobs will be created and ties with communities across western Canada will continue to grow stronger. The new company would create more than 3,000 new jobs, growing the combined team to more than 10,000 people strong across Alberta, British Columbia, Saskatchewan and Manitoba.

At the centre of it all, a western head office will remain in Calgary. Rogers will also enhance Shaw’s charitable work, including the creation of more youth scholarships. The Shaw Charity Classic will continue for at least the next decade, which has already raised more than $61 million for Alberta kids’ charities. – Company website

Eric Boyko has just spent $1.4N buying 25% more Stingray Group shares

The recent purchase by Eric Boyko was the biggest purchase of Stingray Group shares made by an insider individual in the last twelve months, according to our records. That implies that an insider found the current price of CA$7.47 per share to be enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company’s future. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today’s share price, as the discount to value may have narrowed with the rising price. The good news for Stingray Group share holders is that insiders were buying at near the current price. – Inside Wall Street

Commercial Radio Australia cleared to bargain with Google and Facebook

CRA represents 261-member radio stations across metropolitan and regional Australia, including ARN, Southern Cross Austereo, Nova Entertainment, Grant Broadcasters and Nine Entertainment. The authorisation excludes Nine, which previously announced it has reached agreements with Google and Facebook. – Mediaweek

EU plans media act, industry chief Breton says, amid curbs on freedom

The European Commission plans to introduce rules next year to prevent a few large media groups from acquiring smaller rivals and to thwart government interference, EU industry chief Thierry Breton said on Monday.

The move by the EU executive comes amid curbs on media freedom in Poland, Hungary and Slovenia and worries that the channeling of state advertising to pro-government outlets leads to indirect political influence over the media. – Foo Yun Chee, Reuters

Can commercial radio and podcasting go hand in hand

The latest UK radio audience figures from Rajar demonstrated that two-thirds of audiences now listen to radio on digital devices. DAB accounts for 43% of that total, while online and in-app makes up 18%. That means that almost a fifth of all radio listenership occurs on devices such as phones or desktop devices. Those platforms are format agnostic and audiences are just as likely to listen to non-radio audio – if they even make a distinction.

It’s an acknowledgement that the audio space is colliding, with the lines between radio content, podcasts, audiobooks and more being erased by user habit. As a result, there is a huge commercial opportunity to reach audiences that consume ‘audio’ more widely on those devices.

Podcast company Acast saw a 51% increase in listeners across its network in 2020 in addition to a 250% increase in revenue from branded content in 2020. Its UK head of sales Josh Woodhouse believes that is due in large part to an influx of new genres into the podcasting space – which in turn is attracting radio producers to launch commercial podcasts. – Chris Sutcliffe, The Drum

UK newspapers accepted money to publish positive environmental stories about Saudi Arabia around COP26

The Independent and Evening Standard newspapers have been accused of greenwashing after they accepted an undisclosed sum of money from Saudi Arabia to publish dozens of positive environmental stories about the country before, during, and after the COP26 UN climate change summit in Glasgow.

In the days preceding the summit and during its initial days, the Independent published at least 50 stories and videos under a commercial deal with Saudi Arabia, an investigation by Byline Times can reveal. – Byline Times team

Physicists, The Milky Way Is likely full of dead alien civilizations

Researchers used computer simulations to show just how likely it is that our galaxy is teeming with dead alien civilizations. The study, which was carried out by researchers at the University of Rochester in New York, showed that if just one civilization in the Milky Way were to become extinct every 100 million years, then it’s highly likely that 20 million civilizations have come and gone in our galaxy. But, if civilizations are becoming extinct every 10 million years, then it’s likely that only one civilization has ever existed in the Milky Way. – Call Me V

Adblock test (Why?)



Source link

Continue Reading

Trending