I have to confess that when I heard that Donald Trump was forming a social media company, I scratched my head.
Why was the former President of the United States getting involved in the social lives of Americans? Something that, to me at least, seemed trivial and somewhat banal.
After all wasn't social media something that the likes of Jack Dorsey and Mark Zuckerberg, two gentlemen who won't be on my Christmas list this, or any year. Aren't Dorsey and Zuckerburg heads of this corner of the internet? And why would you want to be in that business?
Then I remembered that it was Jack Dorsey, at Twitter, who blocked President Trump's own Twitter account. A move that was universally condemned as a direct assault on free speech.
But it wasn't until I saw the most recent move by our own Securities and Exchange Commission, that I realized the full impact a Trump Social Media company was having on the established media in this country.
You see, for most of my career, I've dealt with the various securities regulators in this country. The SEC FINRA and the various state regulators and commissioners. And I'm very familiar with Form 8k, which was filed by the Trump team this week.
I leave a link to the Form 8-K at ValueSide.com
Now, Form 8-K is part of the disclosures that any public company must go through. It's part of what a company must complete becoming fully registered and in compliance with applicable SEC Regulations.
The whole thing is a back and forth process. With lots and lots of conversation between usually the attorneys for the new company, and the SEC and or FINRA.
Drafts are emailed, and precise wording is written until the Regulators are pleased with the precise language of the Form 8K as submitted.
In short, this is not a haphazard “off-the-cuff process.” This is as precise as you can get, down to the last comma and period.
So when you read that the SEC was requesting information, the precise wording was that DWAC received:
“certain preliminary, fact-finding inquiries from regulatory authorities,”
The answer is: well of course.
That's what this whole process is about. Regulators asking questions. And the company provides copious written answers.
But normally, that kind of language does not find its way into a Form 8K. It's just assumed.
Yawn, regulators are asking questions. I know, I know, it's what regulators do.
But I'm quite sure that there was more to this than a simple statement of inquiry. It was a nudge, a shot over the bow. Letting the new Trump organization know just who's in charge.
And also giving the Press in this country the opportunity to throw a little shade. As in these headlines: “Trump SPAC Under Investigation by the Feds.” Or My particular favorite: “Regulators have some tough questions for Trump-linked Digital World Acquisition.”
But at the heart of all this is a War. It's a War for Information. And all of this flak that the new Trump organization is getting, is proof positive that they've struck a nerve.
You see there's nothing that clarifies your thinking like a full-frontal assault. And make no mistake, that's exactly what Trump endured first during his campaign for President and then during his four-year term, and even now when he doesn't even hold elective office.
The media, and especially the social media is more than willing to disseminate the Anti Trump side. Casting the former President in the most negative possible light.
Just like those regulators are doing, implying misconduct, without actually making an accusation. Knowing the media will transform the inquiry into: “Tough questions,” an “investigation.”
Ah, the magic of the media.
And most unfortunate in all this, has been the realization that none of us have been receiving a complete picture. The whole story, of what is really happening in our country. As we've been spoon-fed, primarily what one side wants us to hear.
Trump's new company is an opportunity to unlock the information cage that most of us have been bound in.
If I may add a postscript. Spurred on by Trump's new venture, just a few days ago I went looking for alternative social media sites to the current juggernauts. Using the search term: “conservative social media,” I found several directories listing up to 50 such sites.
I was delighted. I signed up for a couple. And have found my reception to be overwhelming. Without exception, they are warm and welcoming communities. And I encourage you to consider using their sites if you're at all interested. Included in my new list of friends are Gab, Clout Hub, Parler, you may remember Parler they were the ones who Amazon kicked off the Amazon cloud. Well, Parler is back. Others that I've discovered are GETTR, Free Talk, and Brighteon.
There truly is a revolution in Social Media going on right now. These sites could use our support. And it would get us away from the toxic environment that many of us feel stuck in.
Once again, Trump may not have invented the alternative social media in our country. But I think he's moving to the front of the parade.