Content:
Donald Trump Profits Billions after Truth Social Goes Public
Personal Journey Update
Weekly Fact
Quote of the Week
Donald Trump Profits Billions after Truth Social Goes Public💰💰
Donald Trump's latest venture into the public market with his social media platform, Truth Social, might be his most profitable venture yet.
Key Points:
Merger Approval:
Shareholders of Digital World Acquisition Corp. voted in favour of merging with Trump's media business, Trump Media & Technology Group, thereby taking Truth Social public on the Nasdaq under the ticker symbol $DJT.
As the largest shareholder, Trump holds approximately 58% of the new entity, owning around 79 million shares, a testament to his significant influence in the company.
Financial Impact:
Trump's net worth surged to over $6 billion following the merger, propelled by a nearly 50% increase in $DJT shares, highlighting the financial benefits of the public listing.
The merger coincides with Trump's ongoing legal battles, providing a much-needed financial boost amidst the challenges posed by a substantial lawsuit.
Risk Assessment:
Despite Truth Social's financial struggles and minimal revenue, Digital World's shareholders approved the merger, reflecting their confidence in leveraging Trump's loyal supporter base.
Digital World's decision underscores its belief in Truth Social's potential to tap into Trump's dedicated community, driving stock prices higher and positioning the platform for success.
Financial Liquidity:
The merger grants Trump access to a more liquid asset through stock ownership, offering an alternative to his investments in commercial real estate.
While Trump cannot immediately liquidate his shares, the acquisition of Truth Social positions him to explore potential avenues for generating cash by leveraging his significant ownership stake.
Community Power:
Trump's success with Truth Social shows the invaluable benefits of fostering a dedicated community, showcasing the immense value of strong supporter bases.
Larry Fink, CEO of BlackRock, Addresses The Cryptocurrency Landscape 🪙🪙
Larry Fink, renowned as the world's largest asset manager, shares his insights and perspectives on the cryptocurrency market during a live broadcast on FOX Business on the 27th of March.
Key Points:
Bullish on Bitcoin:
Larry Fink expresses bullish sentiment towards Bitcoin's long-term prospects, signalling confidence in its viability as a digital asset.
Fink remarks, "Look, I'm very bullish on the long-term viability of Bitcoin. We're now producing a market with more liquidity and more transparency, and I'm very surprised by that, and I would never have predicted that before."
Fastest-Growing ETFs:
Spot Bitcoin ETFs emerge as the fastest-growing ETFs in history, reflecting the increasing demand and interest in cryptocurrency investment opportunities.
Insights on Ethereum:
When questioned about Ethereum's regulatory status by FOX reporter Charles Gasparino, Fink responds thoughtfully.
Gasparino: "There is a lot of buzz about the SEC declaring a security that would remove Ethereum from the category of its Bitcoin counterpart as a commodity. How would this be reflected in an ETF?"
Fink: "I don't think so, look, and I can't really talk about it, but I don't think that characterization would be that harmful."
Gasparino: "So you can launch an ETH ETF even if it is a security?"
Fink: "I guess so, yeah."
Ethereum ETF Application:
BlackRock, under Fink's leadership, submitted its Ethereum ETF application in November. However, the application faced delays by the US Securities and Exchange Commission (SEC), primarily due to concerns regarding the staking feature of the Ethereum network.
Personal Thoughts:
I think it’s very possible we’ll see an Eth ETF this year.
I don’t think it will be as popular as the Bitcoin ETF as most people from traditional finance who have invested in the Bitcoin ETF won’t feel the need to allocate more funds into crypto.
Especially considering it’s seen as a riskier asset than Bitcoin which to them is already an incredibly risky investment.
OpenAI Goes to Hollywood 🎬🎬
OpenAI, a leader in artificial intelligence research, is making waves in Hollywood with its latest innovation, Sora, a revolutionary image and video generator.
Key Points:
OpenAI Goes Hollywood:
OpenAI has officially announced its entry into Hollywood by pitching Sora, its cutting-edge image and video generator, to studios, talent agencies, and major executives.
The company aims to introduce Sora to filmmakers, paving the way for its integration into movie production processes in the near future.
Revolutionary Technology:
Sora promises to offer cost-effective solutions with equal effectiveness and reduced overhead compared to existing methods.
During OpenAI's initial demonstration, Sora showcased its remarkable capabilities, generating stunning scenery and captivating animations from simple text inputs.
Streamlining Movie Production:
With Sora's capabilities, film crews may eliminate the need for location scouting and physical set construction, as the generator can produce various visuals, from snowscapes to desert backgrounds, within seconds.
Economic Implications:
Studios are likely to be drawn to Sora's cost-saving potential once the technology is fully operational.
However, the adoption of Sora could lead to the displacement of numerous jobs within the film industry, posing challenges for those affected.
Industry Impact:
OpenAI's move to pitch Sora for official movie production deals signifies a significant shift in the industry landscape.
While smaller studios may prioritize preserving human jobs, larger companies such as Apple, Amazon, and Netflix might be enticed by the financial incentives offered by Sora.
Future Outlook:
Although Sora's widespread availability to the public is still pending, the prospect of studios securing deals with OpenAI in the near future is plausible.
While the transition to Sora-powered production may take time, the potential impact on the film industry is undeniable.
Personal Thoughts:
This I have no doubt will become the norm as it will allow filmmakers to create scenes within seconds.
It cuts huge costs, not just because there is no need for location scouts but also because it eliminates the cost of getting whole film crews from A to B along with all their heavy and expensive equipment.
It does make me sad though as this is just another step towards more charmless movies where everything is artificially rendered instead of physically made.
I get you can’t make everything but that perfect balance of props and special effects is what makes a movie great, for example, Harry Potter and Lord of the Rings.
Personal Journey: Distractions
I’m finding it hard to shrug off that typical distraction of social media.
I’m a whole lot better than I was say 3/4 years ago but now and again I keep getting caught out for half an hour here and there. It’s not a huge amount but it’s annoying after I realise.
Maybe I’m just being hard on myself but at the same time if I’m not I know it will get worse and that half an hour will turn into 2 hours then 4.
I’m contemplating getting a home phone. This would be a phone that has all the necessary apps that help with day-to-day stuff but without all the social media crap.
I can use it to communicate via wifi and use apps to help me organise stuff etc and because it won’t have any social media stuff on there I can’t get distracted.
My real phone, the one that has all the distractions on it at the same time will sit in a draw maybe with a lock (just for an extra hurdle to put me off going for it a little more)
This concept sounds great but I know and most of you are probably thinking it won’t be long until the home phone is the one living in the locked drawer… probably forever.
But like I said, I’m probably being hard on myself as I’ve actually been pretty proactive this year and have achieved a fair amount already.
Anyway, it never hurts to try and improve and cutting down on social media in my eyes is always a good thing.
And with this long weekend, we currently have, it’s better spent doing anything other than social media.
On that note, I hope you have a great Easter.
Weekly Fact
Google Was up for Sale in 1999
Larry Page wanted to sell Google to Excite in 1999. The deal was stuck around $750,000 and 1% of Excite. But then the deal fell apart. Today, Google’s Market cap is over $700 billion.
There are two versions of the story about why Excite did not buy Google at that time.
As per the then Excite CEO George Bell, he rejected the deal because Larry Page insisted that Excite replace all its search technology with Google’s search technology.
However, as per the details given by Steven Levy in his book ‘In The Plex,’ George Bell was not very happy with Google’s search algorithm’s excellent performance. Bell thought Google’s relevant search results might take the users away to other websites, making it harder to retain the users on their own Excite web pages.
If Excite were to host a search engine that instantly gave people information they sought, he explained, the users would leave the site instantly. Since his ad revenue came from people staying on the site — “stickiness” was the most desired metric in websites at the time — using BackRub’s technology would be counterproductive. —Steven Levy
Quote of the Week
Let me know any ways you think this newsletter can be improved.
Also, feel free to drop your newsletter links down below, I’m always grateful for more inspiration.