Donald Trump’s Truth Social is collapsing, now owing more than a million dollars to its web hosting company and rapidly heading towards bankruptcy. The site is also having issues with its name potentially violating intellectual property trademark restrictions. The company’s stock price has tanked 75% since its peak in March and it’s lost $6.5 million in the first half of 2022. Even worse, the user base has declined rapidly ever since it made the full launch, with many people only interested in checking out the site to see what the former president is posting. “Truth” has been unable to distinguish itself as a better version of Twitter, or as a platform dedicated to free speech. Instead, it’s essentially a clone of Twitter so Trump can continue using social media even after every major site banned him for inciting violence and trying to end democracy in the United States.
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