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Trump Media to sell instant access to 'market-moving' social posts
- artisinal 2mo agoI still remember when Obama wearing a tan suit was controversial.
- spwa4 2mo agoI miss Obama. A president that could actually deliver a decent speech and actually bothered to be a politician. A politician should do TWO things: get elected, and convince the electorate about a path forward, including any compromises needed. Obama is the last president that actually did that. As we all know. Trump just doesn't even bother. And before anyone else points this out: yes, I kind of agree, Biden didn't either. Democrats are their own worst enemy, just like republicans are. I really miss Obama.
- gib444 2mo agoYour post reminds me of that scene from the West Wing where the president joins a meeting the VP had already started who had opened with: "Surely our first priority is to figure out a way to work with Congress" Then the president joins and is caught up by the note taker and embarrasses the VP with "Our first priority is to work with congress? Surely our first priority is to serve the American people"
- Jordan-117 2mo agoBiden did both, at least at first. Age (and refusal to recognize it) hobbled him in the end, but during his term he was one of the more effective presidents of the last several decades. Arguably more effective than Obama, considering the amount accomplished in one term and the far slimmer majorities he had to work with. And I say that as somebody who loves Obama.
- cosmicgadget 2mo agoHopefully when Russia is sorted it will be a chance to remember how the Biden administration helped derail "three days to Kyiv" while absolutely embarrassing the Kremlin. That and letting JPow fix inflation without constantly screeching about needing to lower interest rates.
- soraminazuki 2mo agoI know the recent presidency really lowered the bar, but Obama wasn't decent. Sure, he was good at speeches. Yet one of the first things he did was let war criminals off the hook. He went soft on fraudsters at Wall Street after they caused a global financial crisis. He prosecuted more whistleblowers than his predecessors combined. He sent drones to foreign soil and extrajudicially assassinated thousands of people outside of war zones, including many civilians. All of this is insane and did play a role for what came after. The world deserves better.
- arvid-lind 2mo agoThe audacity to push things called the Affordable Care Act too.
- vitalyan8184 2mo ago[flagged]
- pjc50 2mo agoI don't think the Trump administration would have been any less keen to bomb Libya.
- krapp 2mo agoThe Trump administration did bomb Libya. https://www.cnn.com/2017/09/24/politics/us-strikes-libya-trump https://www.cnn.com/2017/09/24/politics/us-strikes-libya-tru...
- artisinal 2mo agoI was once stuck in traffic in Berlin thanks to Obama.
- IAmBroom 2mo agoHe turned me into a newt.
- NoGravitas 2mo agoDid you get better, though?
- jkman 2mo agolmao what point are you even trying to make
- hn_acker 2mo agoOP: I remember when the event that shouldn't be controversial was made controversial. Bad faith reply: You don't remember the event that should be controversial and was controversial? Give and you shall receive. In case you forgot the event that shouldn't be controversial [1]: > U.S. representative Peter King, a member of the Republican Party, deemed the suit's color combined with the subject matter of terrorism to be "unpresidential". He went on: "There's no way, I don't think, any of us can excuse what the president did yesterday. I mean, you have the world watching". [1] https://en.wikipedia.org/wiki/Barack_Obama_tan_suit_controversy#Immediate_response https://en.wikipedia.org/wiki/Barack_Obama_tan_suit_controve...
- deepfriedchokes 2mo ago“Rules for thee but not for me” is the narcissist’s core value.
- classified 2mo agoInsider trading as a service. The corruption knows no bounds.
- syoleene 2mo agoIf you pay to have the info a few seconds before everyone else, does this make it insider trading?
- close04 2mo agoYou don’t have the info “before everyone else”. You have it after the ones who are guaranteed to benefit from knowing it and/or from disseminating it. Whether you can benefit from it or are the mark is debatable.
- short_sells_poo 2mo agoThe issue is the conflict of interest in POTUS' office. A news agency giving high speed access to news ostensibly just reports news, doesn't make them. The office of the POTUS literally makes the news, even more so today than in the past. The markets are very headline driven these days because Trump is a prolific poster and is highly unpredictable. This is basically him selling preferential access to market moves that he himself generates. It's truly an unprecedented level of grifting happening.
- healthworker 2mo agoThis creates an incentive to post things that cause high volatility (even in the downward direction) as that creates a "subscribe if you want early warning of market dips" pressure factor.
- ratmeadow 2mo agoMaybe we can keep going to a point where it's so ridiculous that people realise the financial markets are the useless money laundering loop that they actually are
- pjc50 2mo agoThe supply of capital is absolutely critical to an industrial economy, even if there's a lot of corruption along the way.
- defrost 2mo agoThe supply of food is absolutely critical to a human population, even if truckloads of fish are left to rot in the sun outside schools? The supply of mineral and energy resources is absolutely critical to an industrial economy, even if rivers are polluted to the point they catch fire ala the Cuyahoga River Fire of 1969? I suspect it's worth the effort to minimise and prosecute the corruption, waste, and harmful externalities.
- pjc50 2mo ago> The supply of food is absolutely critical to a human population, even if truckloads of fish are left to rot in the sun outside schools? Well, yes, you can't solve this problem by cutting off the supply of food and then declaring that you've ended waste.
- defrost 2mo ago> you can't solve this problem by doing something I did not suggest. Agreed. What I did suggest is not putting up with corruption, waste, and toxic externalities "just because".
- thrance 2mo agoInsider trading as a service. They're not even pretending not to do it, utterly shameless.
- zb3 2mo agoNew low..
- InsideOutSanta 2mo agoElon Musk must be rolling in his shallow grave, out of which he climbs at night, for not thinking of this before Trump.
- abrookewood 2mo agoSeriously, there are no limits to his graft. This is commercialisation of insider trading. He is shameless.
- jaakkoc 2mo agoCrazy times we live in that a president can do this.
- titzer 2mo agoThere was a long concerted effort to disable all the accountability mechanisms. A massive failure across the board, at every level, in every party. Now that the entire justice system is broken, the American system is being dismantled and looted. 2024 was fatal. Enjoy the slide into the abyss.
- cosmicgadget 2mo agoI think we're realizing that the accountability was never there, prior presidents simply had a sense of dignity. Ultimately only congress and scotus can intervene. But America decided to vote in the January 6 guy and a congress that wouldn't serve as a check on his power.
- NoGravitas 2mo agoYeah, most of the vaunted "checks and balances" in the US constitution either come down to a gentlemen's agreement, or depend on either the nonexistence of political parties, or parties being crosscut by sectional loyalties that haven't really been a factor in US politics for over 100 years.
- red-iron-pine 2mo agothat a politician tries to be corrupt isn't new. the crazy times part is that the gun-totin freedom lovin americans refuse to do jack shit about it. i believe the term is "chickenhawks"
- cbeach 2mo ago[flagged]
- Havoc 2mo agoThis seems to be closest. Mentions who the API provider is by name which would suggest some realness https://investingnews.com/trump-media-and-technology-group-launches-truth-api-a-new-licensed-data-service-for-financial-services-partners-that-provides-the-fastest-access-to-truth-social-s-most-influential-accounts/ https://investingnews.com/trump-media-and-technology-group-l...
- stenl 2mo agoThis seems to be the original: https://s3.amazonaws.com/b2icontent.irpass.cc/2660/rl168199.pdf https://s3.amazonaws.com/b2icontent.irpass.cc/2660/rl168199.... (via CBS News: https://www.cbsnews.com/news/truth-api-trump-media/ https://www.cbsnews.com/news/truth-api-trump-media/) So it seems to be precisely as nefarious as BBC reported.
- bevenhall 2mo ago[flagged]
- kleiba2 2mo agoEvery country gets the government it deserves. -- Joseph de Maistre, 1811
- kleiba2 2mo agohttps://en.wikipedia.org/wiki/Joseph_de_Maistre https://en.wikipedia.org/wiki/Joseph_de_Maistre
- red-iron-pine 2mo ago> Joseph Marie, comte de Maistre[a] (1 April 1753 – 26 February 1821)[1] was a Savoyard lawyer, diplomat, and political philosopher. He is chiefly remembered as one of the intellectual forefathers of modern conservatism. Sounds like he'd love Trump, then
- scarecrowbob 2mo agoHow do some third graders in Alabama deserve this? How do my 22-year-old waiter friends in rural Texas deserve this? What exactly did they do to deserve this?
- tstrimple 2mo agoThose third graders didn't vote hard enough.
- kleiba2 2mo agoBe precise: the quote does not say "individual people deserve...", it's talking about the country as a whole. And even then, you don't necessarily have to agree with it.
- scarecrowbob 2mo agoIt's easy to hide a lot of objectionable stuff in metonymy. It feels reasonable to me to think of a "country" as the people who live there; doubly so when discussing a putative democracy. But sure, I will entertain the idea that you mean something different that literally every other person I've encountered who has uttered that similar sentiment: if the claim is that the owning-class of the US are seeing the results of their 400-year-long racist, genocidal campaign to enslave the world and exploit every crevice of the planet come home to roost in the form of a decaying ability to present themselves as ethically okay... sure I can agree to that. But honestly, I don't think that's what you're trying to say.
- podgorniy 2mo agoThe epstein-guest-pedo-leader of the "claim-to-be-leader-nation" monetize billion in crypto, poorly chineese manufactured phone and sells access to own market-manipulation-intended-texts. It's so much bad stuff that poor people don't even know how to start battling with it... The music on this sinking ship will keep playing till the very end. It's a decline. There is no observable way up from this point.
- lostlogin 2mo ago> There is no observable way up from this point. The mid terms?
- netsharc 2mo agoIt's already looking like Putin/Erdogan-style election fixing...
- easyThrowaway 2mo agoAnd then what? You get a lame duck, then (if you're really lucky) a 4 year dems gov where they basically do basically nothing expect try to clean (or bury) the most outrageous cases of corruption and then once the MAGAs get elected again you're back at the beginning?
- Tadpole9181 2mo agoTrump fired all members of the Election Assistance Commission this week. His head of the USPS confirmed they have a proposed rule to not deliver mail-in ballots in select states. Last night, as we approach midterms, Trump gave a speech saying US elections are illegitimate and only he can fix it (by controlling the voting machines and who gets to vote). I'm really sorry, but it really does look like we may have had our last actual election already.
- podgorniy 2mo agotwo aspects 1. The situation I imply is way broader: it includes corporate favoritism, epstein files people not getting cosequences, cricular investment of the hyperscalers, illusion of AI boom where the president is just a cherry on top. Swap the cherries, and next ones will keep doing what current ones showed is possible and brings no consequences. Add money-printing, war which can't be won, debt growth etc etc. So yes, I don't see good way up from this point. Even with completely midterms lost by trump supporters the major block of problems stays on the table. 2. The mid terms may not result in trump weakening. There are number of scenarios where trump's team/supportes keep major control or even expand it (emergency powers, military or federal interference, or good old intimidation).
- feverzsj 2mo agoHow could US now be even worse than the spoils system era?
- Havoc 2mo agoYet if the average corporate person does insider trading it comes with a prison sentence not pricing. It’s wild how banana republic level corrupt the US is all of a sudden. Really went from 0 to 100 in months
- lostlogin 2mo ago> It’s wild how banana republic level corrupt the US is all of a sudden. It’s wild how utterly predicable this was and yet it was the chosen path.
- spwa4 2mo agoWhen you get older, eventually you see the pattern. Political parties, whatever their viewpoints, are tolerated as long as they improve economic outcomes fast enough. When that even just slows down, there is some tolerance, but not much.
- inigyou 2mo agoLiterally the reason people voted for Hitler was that the German economy was in the shitter and he promised to fix it, with promises that made no sense, similar to Trump's.
- antisthenes 2mo agoAs always, uneducated ignorant people make life hell for everyone else. In order for a democracy to function, you need people that are able to evaluate political promises as bullshit or not. If you believe nonsense from grifters, you get either what you described or the current US admin. Or Brexit. I'm sure there are more examples of this in history.
- inigyou 2mo agoThat's why the right wing always defunds the education system everywhere it gets power, right?
- OutOfHere 2mo agoPreviously posted topic: https://news.ycombinator.com/item?id=48935614 https://news.ycombinator.com/item?id=48935614
- mpweiher 2mo agoInsider Trading as a Service.
- piker 2mo ago> The new commercial data feed, named Truth API, promises to deliver posts to paying institutional clients in "milliseconds". ... > The company, which launched its social media app in 2022, said some firms have been copying its data for months without permission. > McGurn warned that Trump Media will soon block these methods, forcing firms to buy the official feed instead. This looks like it is monetizing and organizing scrapers. Isn't basically everyone doing this with data feeds these days? At best this just gives a few milliseconds head start to subscribers and cracks down on automation. I would be shocked if NYSE, etc. don't already have premium tiers with faster market data and those feeds are certainly paid APIs. It's known that HFT shops will co-locate, for example, to have low latency. This looks really bad, but if it were X and not Truth Social, there wouldn't be anything to see. It goes to the underlying issue of Trump owning and trying to profit from Truth Social generally.
- pavlov 2mo agoThere is literally nothing else of value on Truth Social except the president's posts. And those are considered official government communications. There's a legal ruling about that from the time of the first Trump administration. So the US president has created a wrapper corporation that sells early access to official government communications. It doesn't matter if it's only milliseconds, that's enough for trading systems to make money. How can any of this be legal in a democracy?
- xg15 2mo agoWaiting for the Polymarket joint venture...
- mDyJzDPmBdG 2mo agoIt looks like Kalshi is currently closer to the topic at hand: https://news.ycombinator.com/item?id=48936529 https://news.ycombinator.com/item?id=48936529
- freitasm 2mo agoThe grift. It never stops.
- marysol5 2mo agoWake up America, they're laughing into your face
- deleted 2mo ago[deleted]
- xtiansimon 2mo agoKleptocracy in all its forms. As this president likes to say,”A disgrace”. And every accusation is a confession. Elections have consequences.
- DivingForGold 2mo agoThis merely "encourages" Trump and team to move the markets even more, to sell more subscriptions ? He and his staff can plan out specific utterances that are substantial for moving the markets - endless feedback loop ?
- penguin_booze 2mo agoThe grift that keeps on grifting. To put it poetically, everyday discovering something brand new.
- josefritzishere 2mo agoInsider Trading as a SaaS product? ITaaS?
- xvxvx 2mo agoThe government is one giant taxpayer-funded scam after another. Not that I like Trump in any way, but I’m somewhat thankful that he’s so brazen with the corruption and shedding light on everything. There’s not a single respectable politician. Obama was worth $1-2M before he became president, and is now worth $70M+.
- koonsolo 2mo agoAmericans are so proud of their 5th amendment. Yet when their country turns into a kleptocracy, nobody does anything.
- soraminazuki 2mo agoFunnily, the 5th is the "right to remain silent." I think you're talking about the 2nd Amendment.