Trump SPAC DWAC To Take on Big Tech
“D – Wack. The DWAC SPAC. It’s a SPAC folks. But it’s temporary. It’s only temporary, because it’s a Special. Purpose. Acquisition Company. That’s what it is. That’s what a SPAC is. And it’s been founded for a very special purpose, one of the most special purposes of all time. It’s purpose is to do a deal and, well. Before the deal, DWAC, frankly. Nothing special in terms of stock or prices. Just kind of… bouncing along at this ten dollar acquisition price here.
Didn’t really have much purpose at all, frankly, let alone a special one, but then – all of a sudden – it announced that it was going to do a deal. And many people are saying it’s one of the best SPAC deals of all time. Many people are saying that. They’re coming up to me tears in their eyes, they’re saying: This. This is a special purpose. It really is. It’s a special purpose and we’ve found our purpose, and the purpose is to take on Big Tech. And the way they’re going to do it, is they’re going to do it with the Truth.
These deals, these SPACs. People say there’s no float and they’re right, frankly, because they don’t float. They don’t float at all. It isn’t a flotilla of beautiful boaters, it’s more like a rocket ship… emoji. That just pops to the sky, to the stars even.Aand we’re going to ride it to the moon. We really are because it’s… “
Terrible Trump speak aside, this SPAC, Digital World Acquisition Corp (NASDAQ: DWAC) that is, has 28 million shares out all told, and lots of them are all locked up, so once the market decided the trade was on, anyone who wanted a piece had to grab the offer. It did 496 million shares worth of volume the day it announced that it would be acquiring Trump Media and Tech Group.
The deal is a go-public transaction that will give the markets access to an upstart media company whose primary asset is a social network centered around none other than The Big Guy himself. DWAC did 133 million shares of volume the next day, and 96 million the following day, closing at $83.86, clearly still trying to settle into a price range as the market gages the momentum and tries to decide what it thinks of the art of this deal.
“It’s TRUTH social… because the people… they want the truth out there and frankly… they’re not getting it from Big Tech. Big. Tech. It’s not delivering… It isn’t delivering on truth and fairness and the First Amendment, and free speech in the way that the people want them to… It’s very bad. It’s a very bad deal and it’s… when you look at what they’re doing, the Big Tech, they cancelled Trump… took away the twitter from Trump… he doesn’t have it anymore.
He was the greatest twitter tweeter of all time before they cancelled him, but they cancelled him anyway… but they haven’t cancelled the Taliban! Haven’t cancelled them. The Taliban are still tweeting… They’re still on the Big Tech twitter… driving around in Toyota trucks and doing the type of Taliban stuff that they… they’re very bad guys… and they’re still on twitter. Still on there. Haven’t been cancelled, despite a following that… it really isn’t much to write home about, frankly.
And they’re still around… but they cancelled Trump even though all his followers still love him… they love his tweets, love his deals, and they’re going to bring him back at Truth Social because he got so. much. in terms of likes and retweets and engagement… we’ve never seen it ever before, and so they’re bringing it back… they’re bringing it back at Truth Social, even though it wasn’t all good…. not everyone liked him, there were at least as many haters and losers who were jealous… they were jealous of his success and they…“
There’s no way to count it, but the haters and losers could easily have been the biggest chunk of his following. For every MAGA-hat-wearing beautiful boater, there were at least a couple people who just couldn’t believe that America was being run by a “Cheeto in Chief!” Teeing off on the guy was the number one liberal passtime for a solid four years, and they never really got sick of it. Trump’s replies were wall-to-wall dunks that just never bothered him, and spilled over into the larger media ocean like a busted oil well.
Colbert could just write jokes around Trump tweets and replies and the audience loved it because they were “disgusted that this TV-addicted loud mouth could be allowed to represent America! He’s an attention thirsty media whore who got kind of mid-grade rich off of real-estate investing, and that isn’t what Americans want! “
That being said, the company is right about a big tech monopoly. Whether an app is allowed on a phone or not is entirely up to Apple and Google. The Truth Team is going to have to find a way to stay in these companies’ good graces while still convincing their base that it’s “The most radical disruptor of Big Tech… It’s not going to be so big when we’re done with it folks, believe me…”
Media is about attention, and there may have never been a larger captive audience begging to be monetized. From here, it looks like the success of the venture is going to hinge on how it’s staffed. Nobody at Trump Media & Tech Group has said much about that yet.
Trump can school the fish, but it’s going to take an executive team with talent and connections to successfully run a fishery. Someone who knows how to hire and maintain a talent base capable of keeping it all together and operating as it is grown.
Nobody ever worked for Trump because it paid well, and nobody is going to want to take on the hard part for clout.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
Braden Maccke is a freelance writer from Vancouver, B.C.
You can read all of his Deep Dive articles here.
He can be reached at firstname.lastname@example.org.