The company, which is majority owned by Donald Trump, has seen its stock plummet 84 percent under Nunes’ leadership, from its debut price of $58 back in 2024. The current share price of around $9.80 is arguably still optimistic for a company that has lost $1.1 billion since it went public, and recorded just over $10.6 million in revenue in the same time.
Even as the company struggled, Nunes prospered. In 2024 alone, his pay outstripped any revenue the company has made over its lifetime—he drew a salary of $1 million, a bonus of $600,000 and was awarded stock worth another $46 million.
At the same time it wouldn’t surprise me to find out they really did think they could make money from this. With all of their “silent majority” bullshit it can’t have been that hard to delude themselves into thinking that a “safe space” for this “silent majority” would be profitable.
Literally every Conservative social network has been a colossal failure and money black hole.
Even Twitter got worse once Shitfuck Musk took over. He had to roll it into his government proped up AI/Space company to hide how bad Twitter has been losing money.
Ah, I forgot the new rule is never attribute to malice that which can be explained by stupidity. I yearn for the sweet flavor of gun metal.
to be fair, it’s not a new rule. also stupidity and malice aren’t mutually exclusive.