Elon Musk takes over Twitter

It's been a major problem for more than a year here. Now this:

Denver property owners asked to rent to migrants

 

I'm curious about this quote: “We’ve got kind of a rent cap — $2,000.”

Is it, "Hey, none of these people are going to be able to afford an apartment that rents for more than $2K, so don't bother offering any apartment you can rent for more than that"?

Or does he mean something else?

 

I believe that's what it means.

Average rent for a two-bedroom here is nearly $2,200. Three-bedroom is nearly $2,800. One bedroom is nearly $1,700.

 

I saw that yesterday. Totally not surprising

As an aside. ... Very quietly, the SEC finally signed off a few weeks ago on Truth Social merging with the same SPAC it has been trying to merge with for 2 years, in order to do a public offering. They had been trying to do this since before they started Truth Social, but their disclosures to investors were -- how do you say -- like every Trump venture, with potentially shady financing and fudged disclosres to investors. I am really curious how much money an IPO will net it, for a couple of reasons: 1) Hardly anyone actually uses Truth Social and as Twitter showed for years, it is a difficult model to monetize even when advertisers aren't avoiding you like the plague. 2) The SPAC it is merging with. Digital World Acquisition Corp. already trades publicly, and it's implying a valuation of more than $4 billion for Truth Social (even though it is speculative frenzy). ... and Trump would own well more than 55 percent of the total shares of the new company if this happens. It could solve a lot of his financial problems, except he will have to win the presidency to cahs in, because by the time he could cash out after the offering, the election will over, and if he loses the election, it's hard to imagine a social media platform that nobody else uses, which is associated with him, will retain much value.

I posted about the guy behind this SPAC, Patrick Orlando, a few years ago when they were trying to make this happen. 1) He is more of a failure than Trump, he had several other attempts to get worthless SPACs across the finish line during the craze a few years ago and he couldn't con enough people. I can't imagine what he gave to Trump, because he's got to be the sucker at the table. 2) His company was based in Wuhan, China. I found that funny. 3) When the SEC was investigating, it sure looked like Orlando met with Trump a year and a half before DWAC's listing, which would have been illegal under securities law because DWAC didin't disclose that to the public when it listed (This is nonsensical law, but it is still the law). 4) On top of that, I know that FINRA was investigating trading in the stock (nothing came of it), and it sure looked like the kind of run you would have seen if there was insider buying prior to their public announcement of the merger agreement (which then may have burned some of those insiders because the SEC kept it tied up for so long).

 

No, not assuming he loses control of the GOP. But a $4 billion valuation is not going to hold up without him winning the presidency. It will be an unhealthy, aged, two-time loser who is never going to be president again ranting to 600,000 people on a social media platform that earns zilch. He needs to become president to stay way more relevant than that, for the valuation to have a chance of staying that high. If he loses the presidency, I would expect the valuation to immediately drop like a rock.