On Wednesday, former President Donald Trump announced the creation of his own social network, which he calls "TRUTH Social," and which will be administered by a "publicly listed company" created via the merger of Trump Media & Technology Group and Digital World Acquisition Corp.
The idea is for this to become a tech giant that will compete with Silicon Valley, in revenge for the major tech platforms removing the former president in the wake of his role in the January 6 Capitol attack.
But as national security attorney Bradley Moss noted, this scheme could blow up in Trump's face quickly:
A publicly listed company? Why would he subject himself to that kind of scrutiny? https://t.co/8DSLkkOn9I— Bradley P. Moss (@Bradley P. Moss) 1634777696.0
Among other things, Trump taking over a public company would mean his business is subject to stricter regulations and oversight from the Securities and Exchange Commission — putting greater scrutiny on his finances at a time when his family business is already facing charges in New York for tax fraud.
Trump's new company is not the first attempt by the right to create their own online safe space. One of the pioneering social networks for the right was Gab, which has been booted from app stores for allowing hate speech and allowed the gunman who shot up the Tree of Life Synagogue in Pittsburgh to post his manifestos against Jews. Other pro-conservative platforms, like Parler and GETTR, have been struggling to maintain a user base.