Investigations and Legal Troubles

The platform's challenges began even before its official launch. Truth Social is currently under scrutiny from federal regulators, including the Securities and Exchange Commission and the Financial Industry Regulatory Authority, which have initiated investigations into the Trump Media and Technology Group (TMTG), the parent company of Truth Social. The merger of TMTG with Digital World Acquisition Corporation (DWAC), executed through a special acquisition company (SPAC), has raised red flags. One key stipulation of SPAC regulations is that they must disclose any discussions with potential merger partners, but investigations reveal that DWAC was in talks with TMTG for at least seven months before the merger.

Furthermore, there are serious questions surrounding the transparency of Truth Social's financial backers. Trump claims to have secured over $1 billion from a diverse array of institutional investors but has not disclosed any names. Speculation arises about potential funding from the Kingdom of Saudi Arabia, especially considering former Trump officials like Steve Mnuchin and Jared Kushner have pursued business ventures involving Saudi investments. The lack of transparency raises eyebrows: What is Trump concealing?

Launch Issues and User Experience

The actual rollout of Truth Social has been far from smooth. Despite launching weeks ago, the app is currently only available for iPhone users, leaving a significant portion of potential users—Android users—without access. This limitation essentially halves the possible audience from day one.

Adding to the complications, there have been reports of a waitlist exceeding one million users, with many complaining about stagnant wait times. There is a "refresh" button to update one's position in the queue, but many users have found it ineffective. Frustration is mounting, and reports suggest Trump is irate over the dismal launch and negative press, questioning his aides, “What the hell is going on?”

Declining Popularity

Ruby Cramer’s article, "The Emptiness Inside Donald Trump's New Social Media Platform," encapsulates the experience of many new users. Her main observation? "I joined Truth Social. Why do I feel like the only one?"

Initially, Truth Social ranked 57th on the App Store, trailing behind apps like Tinder and Planet Fitness. In a troubling trend, it subsequently dropped to 72nd and has vanished from the top 200 apps altogether. Currently, Trump has about 80,000 followers on Truth Social, a mere fraction—0.0009%—of his prior Twitter following. In essence, Truth Social resembles a ghost town.

Competition from Right-Wing Alternatives

While it’s easy to compare Truth Social to mainstream platforms like Facebook and Twitter, it’s also essential to look at its performance against smaller, right-wing social media outlets. Platforms like Gab and Gettr, which cater to fringe audiences, are outperforming Truth Social.

Here are some metrics comparing these platforms:

• Daily Visitors:
  • Gab: 650,000
  • Gettr: 300,000
  • Truth Social: 300,000
• Average Time Spent:
  • Gab: 9 minutes
  • Gettr: 7 minutes
  • Truth Social: 1.5 minutes

Despite expectations that Trump would dominate these smaller competitors, the reality is quite the opposite.

Lack of Engagement from Trump

To date, Trump has only made one post on Truth Social, urging followers to "get ready!" Since then, he has remained silent, much to the confusion of his supporters. Many assumed that Trump would utilize his own platform to engage with followers, thereby driving traffic and boosting its popularity. Instead, he continues to give interviews to right-wing media like Fox News, seemingly showing little interest in promoting his own app.

The Reality of Social Media Failures

The leadership of Truth Social falls to former congressman Devin Nunes, whose business acumen is limited to a questionable family farm. His social media experience includes a bizarre legal battle against a Twitter account that impersonated a cow.

Historically, many prominent social media ventures have failed, even with substantial backing and expertise. Consider the following examples:

• DailyBooth: A precursor to Instagram, it folded after being acquired by Airbnb.
• FriendFeed: Bought by Facebook before shutting down.
• iTunes Ping: Launched with a million users but failed within two years.
• Google Wave, Buzz, Plus, and Yik Yak: All ultimately failed despite vast resources.

Given the history of social media failures, it seems optimistic to expect that Nunes and Trump can achieve what others could not.

Concerns Over Privacy

Ultimately, the question arises: is Truth Social merely a data collection operation? The platform's privacy policy, which allows the sale of user email addresses for marketing purposes, raises significant concerns. Transparency is questionable at best, and many users are left wondering about the true intentions behind Truth Social.

As I continue to follow the unraveling story of Truth Social, my updates will be posted on Twitter.