This is probably obvious to many of you. But Donald Trump’s new ‘Truth Social’ media company, formed with a blank check SPAC vehicle, is essentially an open invitation to foreign bribes and payoffs. It’s no surprise the investor list is secret. The one constant in Trump’s business history is that investors get screwed and he walks away unscathed. Given Trump’s political following a social and media venture seems like it could be quite profitable. But most people can succeed with casinos too. Just not Trump. And those were the days of formal investments, prospectuses, business plans, formal commitments. A SPAC is a blank check. Invest now. Find out what you’re investing in later. No one with big money would invest in such an enterprise with the hope of financial returns.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1397223