Unpacking Vivek Ramaswamy's 'media hoaxes' meme | Canada News Media
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Unpacking Vivek Ramaswamy’s ‘media hoaxes’ meme

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In the battle over how reality is presented, the media is disadvantaged in multiple ways.

One is that the media self-corrects, offering transparency to readers about errors in its reporting. An effect of this is that it becomes trivial to sift through the thousands of stories written each month to find mistakes — and then compile such mistakes to suggest that errors are rampant.

This sort of accountability seems to be increasingly uncommon, particularly in the era of Donald Trump. The former president, counseling a friend, once told him that “if you admit to anything and any culpability, then you’re dead,” according to reporting from Bob Woodward. The context was that the friend was accused of what Woodward delicately calls “some bad behavior toward women,” but Trump’s advice — “deny, deny, deny” — certainly encapsulates his own approach to mistakes. If you never admit mistakes, every mistake is contestable.

This overlaps with another disadvantage for the media. Because the media is interested in accurately reporting events (which is why our mistakes are admitted), those who find that reality inconvenient view it with hostility. The rise of outlets for information that aren’t similarly committed, such as sharply partisan blogs or major cable news channels, helps reinforce a universe in which false claims are presented as truth and vice versa.

This universe is centered on the political right, expanded by Trump’s rise to power. And that means that the true claims presented by the media are seen as partisan attacks and that the media is seen as an arm of a leftist elite, partnered nefariously with others who disagree with the right’s worldview.

On Thursday, fading GOP presidential candidate Vivek Ramaswamy offered an example of the sort of attack that results, listing examples in which — he seems to argue — the media was not just wrong but intentionally so, to hurt the right.

The thing about the list, though, is that it is a mishmash of vague claims and misinformation. Since similar lists circulate with regularity, it’s worth explaining how that’s the case.

The list begins with “Russia collusion.” By itself, it’s noteworthy that many of the things on Ramaswamy’s list use shorthands to refer to allegations understood by his heavily right-wing base. Readers are expected to just know what he means because many of the things on the list have been reshaped and reiterated for so long that they are taken as articles of faith.

What does “Russia collusion” mean? Probably, what Trump means by it: that the investigation into Russian interference in the 2016 election and potential connections to Trump was shown to be baseless.

But no matter how often Trump and his allies insist that it was, it wasn’t. I wrote about this in 2022 at length, but the rebuttal is easily distilled. The interference effort was real, there were multiple points of contact between Russian actors and Trump’s campaign, and Trump’s campaign welcomed Russia’s attempts to boost his candidacy. At one point, his campaign manager gave internal polling data to someone linked to Russian intelligence.

A review found that the investigation itself was warranted. The probe culminated in a report from special counsel Robert S. Mueller III that is worth reviewing, as it fell far short of exonerating Trump.

But Trump started calling the whole thing a hoax even before he fired FBI Director James B. Comey, and, from that point forward, it’s how the probe has been treated by the right.

Next on Ramaswamy’s list is “The Hunter Biden laptop story.” Again, that’s vague and, again, it simply plays on the sense on the right that something untoward occurred surrounding the October 2020 emergence of material purportedly obtained from a laptop once owned by President Biden’s son.

Over time, a few criticisms of the initial response to the story have emerged, like that former intelligence officials said it was Russian disinformation. They didn’t; they said the material’s release bore “the classic earmarks of a Russian information operation.” The skeptical response from news organizations and social media companies has been similarly pilloried, but there was good reason for caution to be applied in the moment.

This skepticism has at times been assigned not to caution about elevating hacked material (which was the actual reason) but to the media’s supposed efforts to aid Biden’s campaign. There’s no reason to think that handling the story differently would have affected the outcome in 2020.

Ramaswamy’s list then gets to “Charlottesville.” This is presumably a reference to Trump’s comments about the violence that unfolded there in August 2017, with the then-president stating during a news conference that there “were very fine people, on both sides.” This came a few days after his initial response, in which he denounced the “egregious display of hatred, bigotry and violence — on many sides. On many sides.” That comment earned Trump praise from white nationalists.

As The Washington Post Fact Checker noted during the 2020 election, Trump did couch his “fine people” claim by denouncing explicit racists. (The White House had already offered a statement to that effect, and Trump had previously read prepared remarks that did the same.) But there’s no evidence that the right-wing protesters in Charlottesville that day included any significant number of non-White nationalist or -militia participants.

Ramaswamy’s list then runs through several stories that were more cultural: “Bubba Wallace,” “Jussie Smollett” and “Covington Catholic Kids.”

Wallace is a NASCAR driver who, soon after social justice protests began in 2020, was informed about the discovery of a rope shaped like a noose in the garage housing his car. It was ultimately determined that the incident was not a hate crime and that the rope had been there for months.

Jussie Smollett was an actor who claimed to have been assaulted by right-wing assailants in a racist and homophobic attack, a story that was also picked up by the media. He was later convicted of having made the story up.

In both those cases, the media reported the stories and their developments. It’s a good example of how reporting on something that turns out to be different than originally thought is used as a cudgel against the press.

The Covington Catholic story, on the other hand, was an example of how the presentation of a story by the media proved to be inaccurate. An encounter between a high school student wearing a “Make America Great Again” hat and a Native American man was initially represented in a way that suggested that the student was mocking the other man. Other videos showed that he wasn’t. Corrections were added to numerous stories, including at The Washington Post.

We can dispatch the other items on Ramaswamy’s list more quickly.

“Gretchen Whitmer kidnapping plot.” Ramaswamy’s inclusion of news that Michigan’s governor was the target of a violent plot hinges on the right’s belief that this was contrived and that those arrested as part of the plot were entrapped by the federal government. Several of those involved in the plan were convicted by a jury; several others took plea deals in which they admitted guilt.

“COVID Lab leak was a ‘conspiracy theory.’ ” This is another example of cherry-picking news stories to disparage the media broadly. The Post explored how initial coverage of the emergence of the coronavirus was at times overly dismissive of the idea that it might have originated in a lab. Again, corrections were made by several news outlets, including The Post.

Ramaswamy focuses on the “conspiracy theory” angle here, unlike Trump, who has claimed without evidence that the virus did originate in a lab. It is useful politically for him and his allies to elevate this idea because it implies that fault for American deaths lies with China — and because it allows them to again cast the media as nefarious.

“Steele dossier.” Here, Ramaswamy is presumably referring to the elevation of unverified claims about Trump and Russia that captivated the left early in Trump’s presidency. The right has often tried to claim that these unverified allegations were the trigger for the Russia probe, but they weren’t.

Most reporters, in fact, treated the dossier as what it was: rumors, and dubious ones. But the chatter about the documents from opinion writers and commentators overwhelmed that caution.

“Don’t Say Gay was in the bill.” Ramaswamy is referring to legislation signed by Gov. Ron DeSantis limiting discussion of LGBTQ+ issues in schools in Florida. It was often called the “don’t say gay” bill because of those limits. Media outlets often referred to it using that descriptor — e.g., the “so-called ‘Don’t Say Gay’ bill” — since that was how it was often known among the public.

The bill didn’t say “don’t say gay” or explicitly ban use of the term “gay.” It did impose bans on some instruction about LGBTQ+ identities.

“Migrant ‘kids In cages.’ ” Ramaswamy is waving toward criticism of Trump’s family-separation policy for immigrants and, presumably, the counterargument that the chain-link enclosures in which they were housed had been used during the Obama administration. Either way, the Trump administration did demonstrably house kids in those enclosures and did demonstrably separate some from their parents. Among those who called the enclosures “cages” was Trump himself.

“GA election integrity was the new ‘Jim crow.’ ” This is a useful inclusion from Ramaswamy as the claim is obviously commentary; there’s no way to present such a statement as factual. Arguing that the media is biased based on opinion articles is self-evidently silly.

“Duke lacrosse kids.” I originally misremembered this assertion, thinking that Ramaswamy was referring to a retracted article from Rolling Stone that was published a decade ago. But a reader pointed out that this story instead referred to an earlier accusation in which the media drew attention to assault claims that were eventually dismissed in court. Like the Smollett incident, the critique is more about the media’s elevation of the story than the facts of it.

“Zelensky is a paragon of democracy.” The only example I can find of the Ukrainian president being called a “paragon of democracy” is from Ramaswamy.

“Jan 6.” Another code word meant to evoke a general sense of distrust. Ramaswamy has in the past embraced claims about the unsubstantiated role of federal actors in the violence at the 2021 U.S. Capitol riot — claims that thrive in the right-wing media hothouse because they absolve Trump of culpability. But there’s no question that the events that day were a function of Trump’s actions and encouragement. Multiple plea deals from riot participants have made that even more obvious than it was at the time. Claims that government actors had a role, meanwhile, have been consistently debunked.

“ ‘Peaceful’ BLM riots.” There were unquestionably Black Lives Matter protests in the summer of 2020 that devolved into violence. But research has shown that the vast majority of those protests were peaceful.

“Ivermectin is a horse dewormer.” It is, as well as being a treatment used by people. It has not, to Ramaswamy’s intended point, been shown to be effective against covid-19.

“Trump used tear gas to clear a crowd for a bible photo.” This is one of my favorite examples of how the right insists that the media manipulated a story. No one said that Trump himself used tear gas to clear a square near the White House in June 2020 shortly before he crossed it to pose for photos outside a nearby church. But tear gas was used, apparently by D.C. police.

They were working in conjunction with federal law enforcement to clear the area shortly before Trump headed to the church. That’s the real question: Was the area being cleared to facilitate Trump’s trip, making the use of that tear gas a function of his actions?

The former president’s allies claim that it wasn’t, pointing to an inspector general report looking at the actions of the federal U.S. Park Police. They note that the area was slated to be cleared anyway, to put up new barriers.

But it was cleared at that useful moment only after then-Attorney General William P. Barr talked to officials at the scene.

“Are these people still going to be here when POTUS comes out?” he asked. The efforts to clear the square started soon after — apparently, the answer was “no.”

Those are facts, and the conclusions that can be drawn from them are obvious. But Ramaswamy and his ideological allies have decided that those conclusions are a mark not of Trump’s dishonesty but, instead, the media’s. Because, for them, it is more useful to present the media as bad actors than to present their allies in that light.

“The MSM spits in the face of *the people* every single day,” Ramaswamy insisted in his social media post, “with ad nauseam and flagrant lies.”

When your collection of daily insults includes 18 examples that stretch back over some 3,000 days, perhaps the dishonest party here isn’t the press.

correction

This article (ironically) originally included the wrong story in assessing “Duke lacrosse kids.” It has been updated.

 

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

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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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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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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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