Why Truth Social perfectly explains Donald Trump
Donald Trump’s use of social media is a transaction, designed all but exclusively for his benefit.
But as opposed to some of his business ventures, he seems to have genuinely found his calling online.
Trump does what’s good for Trump. That’s clear, always has been. And what’s good for him right now is a social media campaign that ignores the harms of social media, and the good public policy of fixing it, in favor of delivering his undiluted message on his own platform and any other that will have him.
Critics will tell you that Truth Social is a disaster, a business that loses tens of millions of dollars on almost no revenue. But if it’s such a trainwreck, why is it worth billions? (A few less billions, to be sure, after its latest plunge.) Why does every media outlet quote Trump’s posts?
It comes down to the devotion of Trump followers.
They adhere religiously to him, they buy stock in his company, and investors see the potential in marketing digital products to them. His believers will donate, vote, follow, and make excuses to his benefit, no matter his actions. To his true acolytes, his success is inevitable and failures aren't his fault.
ALSO READ: ‘They could have killed me’: Spycraft, ballots and a Trumped-up plot gone haywire
Look what happened after Trump's felony guilty verdict — he managed to haul in $53 million in donations almost overnight. Truth Social as a platform is the same way — a giant fund designed to ensure Trump’s voice is not canceled again. It's there to push his message and political voice with little regard for investors’ returns — which is a shame, because there is real untapped business potential there.
Trump’s ability to convince others to give him money is unparalleled. So, too, is his ability to shift with the winds.
Remember when Trump wanted to ban TikTok? That was before some of TikTok’s biggest shareholders lined up behind him and his campaign. Then, all of a sudden, he was opposed to banning TikTok. From there, it was only a short leap to actually joining TikTok, which he did earlier this month.
You know, without even looking, what happened next — 6 million-plus followers, two videos with more than 120 million views each, etc.
It’s no secret that when I was CEO of social media network Parler, we had conversations with the Trump campaign about Trump joining.
The prospect of doing business with Trump is a really tough situation to be in. His followers are deeply connected to him and his political views, which change erratically and often align with his personal interests. A deal with Trump would have meant that he could bully the company and users to get his way. Alongside this, there is the implied threat that he could crush the company by telling his followers to abandon it.
Trump is not on my new social platform, Hedgehog, but we certainly won’t stop him from joining if he wants.
We support the more tangible idea that everyday people can have beliefs and share them productively. Would Trump go for that? Probably not. Trump is more interested in a megaphone than a conversation. But that, again, shows his command of his brand of social media — the power to drive a message without having to engage critics.
So if Trump wins this November, what does that mean for social media, which most Americans use in one form or another?
Does it mean he’s going to embrace the TikTok ban again? (Potentially, if there’s business or personal value in it, but for now he can’t because he needs the pipeline to the youth vote.) Will he line up behind efforts to repeal the laws that protect social media companies from claims over what their users post? (Unlikely, because it would cut the legs out of his own business.) Will he stand up for a ban on algorithmic social feeds being served to minors, like New York recently implemented? (Easy win with parents, and won't affect Truth Social too much, so maybe?)
Ultimately, he will do any or none of those things, depending entirely on how they suit his message and his interests. But it’s kind of moot, too. Trump will do what he wants to do, when he wants to do it, to advance his interests and maximize the reach of his message.
The rest of us? Depending how November goes, we may have no choice but to endure it.
John Matze is the co-founder and CEO of discussion platform Hedgehog, and was previously co-founder and CEO of social network Parler. Follow him on Hedgehog, X and LinkedIn.