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Barry Diller says Trump Media is 'a scam' and people buying shares are 'dopes'

Business Insider

Business Insider · 1y ago

Barry Diller says Trump Media is 'a scam' and people buying shares are 'dopes'

Barry Diller, media mogul and chairman of IAC and Expedia Group, criticized Trump Media, calling its shareholders "dopes" and referring to the company as a scam. Diller pointed out that the company has no revenue and questioned why anyone would see it as a valuable investment. He compared the enthusiasm around Trump Media's debut to the frenzy around meme stocks like Gamestop. Additionally, Diller mentioned that Donald Trump's appeal is temporary as he is currently entertaining people on the campaign trail. The company's stock has plummeted since its initial surge, and short-sellers are already betting against it.

Related News

Barry Diller warns that time is running out to get AI under control

Business Insider

Business Insider · 1y ago

Barry Diller warns that time is running out to get AI under control

Barry Diller, media billionaire and chairman of IAC, has expressed concerns about the need for regulation on artificial intelligence (AI). He emphasized the urgency to prevent AI from spiraling out of control and cited a video circulating online that featured convincing deepfake replicas of Joe Biden and Donald Trump speaking gibberish. Diller proposed legislation to make it illegal to fabricate content using someone's persona. He also highlighted the necessity of redefining fair use laws that pertain to AI. Diller previously called on publishers to take action against AI using their content without permission.

Donald Trump says would be open to Musk buying TikTok

Economic Times

Economic Times · 7m ago

Donald Trump says would be open to Musk buying TikTok

US President Donald Trump expressed openness to Elon Musk, owner of social media platform X, potentially buying TikTok, the Chinese-owned app facing a US ban unless divested from ByteDance. Trump has paused enforcing the law against TikTok and suggested a 50-50 partnership between the US and ByteDance. Despite TikTok's brief shutdown and restoration in the US, app availability remains limited, as Apple and Google have yet to provide downloads or updates.

HIBOX App Scam Busted: Man Held For Defrauding 30K People

Inc42 · 10m ago

HIBOX App Scam Busted: Man Held For Defrauding 30K People

- Delhi Police arrest 30-year-old man in a case involving a suspected INR 500 Cr fraud - Suspect allegedly deceived over 30,000 people through an investment scam using HIBOX mobile app - Social media influencers and YouTubers recruited by the suspect to promote the fraudulent investment are under investigation - RBI's recent annual report shows a 334% YoY increase in online fraud cases involving cards and the internet in India - The suspect is accused of luring victims into investing money in the scam, resulting in significant financial losses for the victims.

US President Donald Trump "acknowledged" Musk's apology, says White House Press Secy

Economic Times

Economic Times · 2m ago

US President Donald Trump "acknowledged" Musk's apology, says White House Press Secy

Tesla CEO Elon Musk expressed regret over his critical social media posts about President Donald Trump, following a recent conflict between them. Musk conveyed his apology during a brief phone call with Trump, facilitated by Vice President JD Vance and White House Chief of Staff Susie Wiles. White House Press Secretary Karoline Leavitt confirmed that President Trump acknowledged Musk’s apology and emphasized their continued focus on serving the American people. No review of Musk's government contracts has begun.

Trump's Truth Social overtakes Musk's X in value as shares surge

Inshorts · 9m ago

Trump's Truth Social overtakes Musk's X in value as shares surge

Donald Trump's Truth Social has overtaken Elon Musk's X in value after its shares surged. Trump Media & Technology Group (TMTG) is now valued at over $10 billion, which is higher than X Holdings' estimated $9.4 billion valuation. While X and Truth Social are rival microblogging platforms, Musk has openly endorsed Trump in the upcoming US elections.

Donald Trump's Truth Social deal has made him one of the 500 richest people in the world

Business Insider

Business Insider · 1y ago

Donald Trump's Truth Social deal has made him one of the 500 richest people in the world

Donald Trump's net worth has soared to $6.5 billion, making him one of the 500 richest people globally, thanks to his Truth Social deal. The former US president has seen a series of wins recently, including a reduction in his bond for a fraud case to $175 million. Trump has heavily invested in the social media platform, Truth Social, and its parent company, Trump Media & Technology Group, which recently went public. Shares of the company surged by 56%, and it is estimated that Truth Social could have a valuation exceeding $5 billion with around 5 million users.

Trump says 'must have time' to decide on TikTok ban

Economic Times

Economic Times · 7m ago

Trump says 'must have time' to decide on TikTok ban

Incoming US President Donald Trump stated that the Supreme Court's decision to uphold a congressional ban on TikTok should be respected. However, he emphasized the need for time to decide on enforcing the ruling. Trump mentioned that his decision regarding TikTok would be made soon, but he requires time to thoroughly review the situation. He communicated this through his social media platform, Truth Social, asking people to stay tuned for his final decision.

Meta, Australian banks tout progress on taking down 'celeb bait' scam ads

Economic Times

Economic Times · 11m ago

Meta, Australian banks tout progress on taking down 'celeb bait' scam ads

1. Meta has taken down around 8,000 celebrity bait scam ads from Facebook and Instagram in collaboration with Australian banks. 2. The scams use AI-generated images of famous people to deceive consumers into investing in fictitious schemes. 3. The Australian government plans to introduce an anti-scam law which could impose fines of up to A$50 million on social media companies like Meta. 4. In 2023, Australian scam reports increased by nearly one-fifth, resulting in losses of A$2.7 billion. 5. Meta is facing a lawsuit in Australia for allegedly failing to prevent the dissemination of cryptocurrency advertisements featuring celebrities. 6. Meta is working with Australian banks to identify signs of fraud and scams within ads, while their stance on the proposed anti-scam law is still under consideration.

Bezos Says the Post Withheld Endorsement to Avoid Media Bias

Livemint

Livemint · 10m ago

Bezos Says the Post Withheld Endorsement to Avoid Media Bias

Jeff Bezos, founder of Amazon and owner of the Washington Post, has addressed the media industry's credibility gap by stating that most people believe the media is biased. He explained that the Post's decision to stop endorsing presidential candidates was a principled one and not related to a meeting between former President Donald Trump and executives from Bezos' company Blue Origin. The announcement caused controversy with resignations and cancellations, including criticism from reporters Bob Woodward and Carl Bernstein. Bezos emphasized the need for change in the media landscape and vowed to fight against the paper's irrelevance.

Donald Trump transfers nearly $4 billion worth of his Trump Media shares to revocable trust | Company Business News

Livemint

Livemint · 8m ago

Donald Trump transfers nearly $4 billion worth of his Trump Media shares to revocable trust | Company Business News

US President-elect Donald Trump has transferred his stake in Trump Media & Technology, worth over $4 billion, to a revocable trust that he is the sole beneficiary of. The transfer includes 53% of the company's outstanding stock and was made as a "bona fide gift" to the Donald J. Trump Revocable Trust. The trust is managed by Trump's son, Donald Trump Jr., who has full control over the securities held by the trust. The reason behind the transfer is unclear. Trump Media is the parent company of Truth Social, a social networking site created by Trump following his ban from Twitter and Facebook. The company's shares have been volatile since it was listed on NASDAQ in 2024 and are currently valued at $34.71, with a market capitalization of around $7.7 billion.

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