It had been rumored for months. Yesterday was the day that Real Estate Mogul, Reality TV Host, and the 45th President Of The United States became Donald Trump, Social Media Entrepreneur.
For millions, this was a moment that they had hoped for since Jack Dorsey and the management at Twitter, had censored him.
It was the day that a little-noticed Special Acquisition Company named
Digital World Acquisitions became the most actively traded stock on NASDAQ. As literally millions poured into the stock that was to become the center of the new Trump Media empire.
The stock itself rose by fivefold, from the night before close of less than $10 per share, hitting a high of over $50 yesterday. And if I'm right, we're going to see the same kind of performance today, as word about this new social media company reaches even more investors.
This demand is a clear indication of the need for more diverse voices in social media. A sector which, up to now, has sung from the same hymnal. There have only been a handful of Social Sites. Sites that have dominated this space. And all of which share the same political and social perspective.
Their willingness to silence, even a US President was witness to the fact that they did not recognize free speech as a fundamental value. Rather than open their platforms to free and open debate, the current group choose to steer public opinion in the direction that they wished to see prevail.
Yesterday was the opening salvo that challenges that basic premise. Others have tried but lacked the financial staying power to really challenge the reigning leaders in this industry: Google, Facebook Twitter.
With this kind of public support, it now looks like a real viable challenger has arisen. One that will be ready and willing to take up the other side of the debate.
For Trump, this moment has to be sweet. To challenge those who were thought to be unassailable. Companies whose position was second to none. Who had such a head start in infrastructure, experience, and capital, remember these existing social media companies are among the highest capitalized companies in the world. A couple of which have over a trillion dollars in market cap.
But we've seen great commercial empires before. And we've seen them come and go. It's the nature of our free market system. It doesn't let the crown rest too long on any company.
I remember one day flying out of Laguardia Airport in New York. It was shortly after another, formerly unassailable company, Eastern Airlines had just declared bankruptcy. Of all their routes, only one was considered really profitable, and that was the New York, Washington, and Boston Shuttle. Thousands had come to rely on this quick and easy way to get between these major east coast cities every day. For many, it was THEE major link in their business routine.
Well, to make a long story short. A brash young New Yorker decided that he could take over the Shuttle and make some money while continuing to provide a vital service to North East Businesses. Now I was flying just the day after the news that Eastern was gone. And there on the next runway, emblazoned with the Trump logo was the newest of the new Trump Shuttle Planes. Painted polished and raring to go.
How'd he do that, I wondered. In just 24 hours he had the Trump Shuttle up and running, on time I might add, something that Eastern wasn't always able to achieve.
I learned right then, never to underestimate this man. He seems to do the impossible, to challenge the unbeatable.
And I wouldn't bet against him this time.