Trump's Stock Plummets (Literally) ft. Liz Dye
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- Опубліковано 7 кві 2024
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Trump for PRISON 2024!!!
How low will it go? As a university-trained professional futurist, I don't make predictions. But if Cheetolini is any indication, there is no bottom!
By the way . . . I don't do social media, per se, so I'm curious: what does Devin Nunes' Cow have to say about the lil cowpoke?
I like this lady. Good hire Devon!
@@davea6314 for what crimes?
Eew@@johndemeritt3460
The SEC fined a SPAC $18M for fraud involving billions. How is that a sufficient punishment? That's like me getting fined $100 for stealing $10,000.
I believe the minimum fine should always be at least equal to the illicit gains.
Well, when you let Republican legislator meddle with regulatory agencies, these are the results you can expect. You think Trump and his merry band did nothing while they were in office. Do a little exploring on the carnage they did to the Federal regulatory agencies.
you're not a "job" creator.
The fee for doing business
The SEC is crooked as hell.
Jimmy Carter had to sell his Peanut farm when he became president. A friggin Peanut Farm. And Trump gets to hold meme stocks and hotels. What a joke.
Carter was an honest man , with a conscience
Jimmy Carter didn't have to sell, he could have put it in trust but chose not to, that was his choice
Trump doesnt even so that
Laws don't apply to Trump
Jimmy Carter DID put it in a blind trust for his presidency. He sold it after he had left office.
Imagine giving up bill money, rent money, mortgage money, emergency funds, etc. for a person that wouldn't throw you a coat nor a sweater if it were freezing.
I always liked, "wouldn't cross the street to piss on you if you were on fire".
@@jessicaolson490& those people would succumb to their fate, to “OwN da LiBs!”
don't be so hard on Biden.
@@JustAnotherJarhead May I bottle your tears, projecting one? They seem an excellent vintage.
He couldn't care less about the country as long as he courts the correct fools and traitors to win.
Truth Social isn't a Twitter clone, it's a Mastodon clone. They literally took Mastodon, turned off federation, and stopped complying with the AGPL that requires them to publish all their source code.
And funnily enough there's a legal argument that the SPLC has been pushing rather successfully. Apparently anyone can sue someone for not complying with the GPL, even though it's a copyright license, because third-party beneficiaries of contractual terms can sue over that contract not being carried out.
I'm not saying we should sue Trump to force him to publish their hacked-up Mastodon instance, but...
Actually, they already did. It's up on GitHub right now.
I'm sure that the EFF knows, and the courtroom shenanigans Donald and his revolving door lawyers are pulling is why they're not doing it. He would bleed them dry.
They already did. It's up on GitHub.
just keep voting Biden... you are doing the Country a great service.
Wait, did they actually turn off federation? I thought most Fediverse admins looked at "Trump social media" and said "nnnnnope".
Teaming up with “a guy from Miami named Patrick Orlando” is a thing that would be considered ridiculously obvious in the plot of a TV show.
And they say Duncan Idaho was a stretch
@matheussanthiago9685 is he related to Brooklyn Beckham?
I said the same thing. I swear sometimes it feels like we're all living inside a stoner's terrible screenplay.
@@jacobmorris16
LOL! Good one!!
Miami Vice
It's insane that this whole thing was able to happen to begin with. SEC is a joke.
Sadly the SEC isn't the greatest
Its largely a joke. And thats what so weird about the SEC. And honestly I would prefer it completely toothless.
If you play by its stupid arse rules, that are literally hypocritical, you are fine.
But you step a toe out of line and they can literally destroy you for the stupidest things.
SEC is staffed by the very people taking advantage of the system.
They have no interest to changing it.
Synonym for SEC: Bernie Madoff
Dubya Bush was a huge supporter of "government/private" coalitions. Now private corporations basically run the SEC, FEC, FCC, EPA, FDA, OSHA, and many other regulatory agencies.....
The more I hear about Trump, the more I want him off social media and in jail. This level of delusion is only seen in cult leaders, sociopathic narcissists and the clinically insane. And the fact that people STILL KEEP BAILING HIM OUT OR LETTING HIM OFF THE HOOK is even MORE appalling!
Yep. You know full well that any of us wouldn't have access to a bond bailout worth millions of dollars in a similar situation.
He's leading Biden in critical states for the election. How bad can a president be that Trump is a a reasonable alternative?
@@dracosummoner Imagine having an army of chronically online stans justifying obvious fraud on our part
@@smaakjeks They're afraid that the second they stop, the US turns into Communist CCP China.
If you looked at his history before he even before for president none of these would surprise you in the least.
The problem with the bond is that before it was lowered, Trump HAD a bond company lined up _that was willing to pay,_ and his lawyers _deliberately failed to report this,_ which is why the bond got reduced as they claimed that getting that much money together was a 'financial impossibility'. However, now that it's come out that Trump (via the bond company) actually DID have the money, the bond ought to be bounced right back up to $460 million, and his lawyers slapped down HARD for this fraud.
On Fri B4 he came up w/ the $175 the Loser said he had $500 m cash 😂😂😂😂
@@drjanines3301 We all know DJT lies like he breathes; many times a minute, and both exercises will only cease when he finally does~😉😆
did you conveniently skip over the fact that even a 100 Million bond is unprecedented in history? Talk about being slapped for politicizing the judicial system... who should be targeted for corruption?
Fake news..
@@vincetaliaferro2777It is in court documents. It is true.
I got kicked off Truth Social for pointing out Trump said he wanted to do the "no pants dance" with his daughter, who was a minor at the time. So much for free speech and truth.
😂
😂😂😂😂
It's true, many people are saying... the most luxurious "no pants dance" the world has ever seen, it's gonna be not uuuge (and very mushroom shaped)
That’s because they don’t want you telling the truth, just Trump’s form of truth.
that is the Conservative hallmark. They do not want free speech for everyone, only themselves. That is Elon Musk's version of Twitter as well.
Nobody who has almost 500 million dollars in cash uses social media to announce, "I HAVE ALMOST 500 MILLION DOLLARS IN CASH!"
He's hanging out with rappers. Seems like a good fit.
That social media boast is grounds for the court to restore his bond liability to $454 million.
@JudgeJulieLit He will still owe the total $450+ million amount when he loses the appeal. Besides, the $175 million put up is now in question because the company who loaned it does not surety rights in NY.😂
You really can't make this sht up!
@@username7763 Sorry Kid rock and jelly roll ain't worth 500 million. and Kanye is singular not plural.
they also do not go around selling everything under the sun and beg for Money just about every Day.
This is the first i'm hearing of Liz Dye. She explains complicated things so well. I will look into more of her online. Thanks for sharing.
Law and chaos podcast. She’s great.
Can we all just take a second to appreciate LegalEagle getting Liz Dye (a clearly competent, intelligent and articulate soul) to use the term "Magical Underpants" in an explanation vid involving trump.
I'm more thankful that she helped bring Biden into power 3 years ago.
Timestamp?
Gotta love how no matter what it is, it's always a grift.
the grift that keeps on grifting
@@VeroTesta😂
Trump never met a form of financial fraud he didn’t like.
Good overview of this scam by the Legal Eagles.
@pridelander06 Exactly !! Look up the NY business FRAUD case ! He had a judgement for 454 billion $$, which was reduced (?) to 175 billion $$ !! The bail bond was posted by a bogus/ shady ( bank ? ) and at first, there was no financial info posted and no documentation !! DJT and his associates and lawyers could fill up a Federal Penitentiary themselves!!
This is like the tenth thing that has me thinking "Surely now his followers will see that he's a psychopath who only cares about himself" but it just never happens
Boomers are not known for their intelligence and ability to spot scams lol
@@katyungodly They are also known for their severe, to the point of psychosis, dishonesty. They lived in the Golden Age Of The Middle Class (approximately 1950) and think their children have it easier than them.
Some people like him for that very reason. Narcissists idolize even bigger and more powerful narcissists.
Tenth only? I'm like at just over 100.
Sunk cost fallacy, along with pride. If they admit that he's a liar and fraud, they have to admit they were fooled, and shoulder the burden of having supported a conman in his pursuit of personal profit at the cost of everyone else.
Sadly, the longer they cling to the idea that he's not just a con, the harder it is to admit that he is. At this point, short of personally falling victim to his schemes, it's probably too late.
I wish you'd covered the fact that they stole their software from mastodon and rebranded it. It's frustrating when the property rights are ignored by the wider community simply because it's nerds that owns those rights instead of other billionaires.
Well, it *was* open source...
@@Brasswatchman *was* it. And what license did it use?
Was and does it *remain still* the AGPL, a license which requires you to publish sources when running as a service. And if you don't you are committing copyright infringement of the same kind and severity as if you "stole it".
@@doctormo They did publish the code. It's up on GitHub. (They left out the authentication secrets, unfortunately. I already checked.)
@@doctormo Don't get me wrong. I'm all in favor of ragging on these people. I'm just saying this ain't the angle.
@@Brasswatchman That's why I posted this message here about the way liberals talk about these issues, and not on truth social.
SPAC sounds like a slur. Like someone sees Donald Trump and says "Ugh shouldn't someone have locked that SPAC up by now?"
Probably because it's one letter off from being an actual slur.
It is in the UK
"Chaos lawyer" new favorite dnd class
Chewbacca defense incoming!
"According to bird law in this country..."
A chaos lawyer sounds like someone who argues the Paladin didn’t break their oath, or get warlocks out of their contracts without losing their powers
@@Justanotherconsumer underpants gnomes confirm it
Better than a rules lawyer
Still waiting for a Trump GoFundMe to pop up. Calling it now, it absolutely will work too 🤦🏻♂️
the good old gofundme because capitalism never works
They already did, it was already closed for breaking their terms
Thought that was a thing already.
Better idea than a Trump OF 🤢
Yup, one was set up immediately after the first judgment was issued against him. I think it raised about $1.5 million over a few weeks before it shut down.
Yes, every individual country in Europe has it's own problems. Yes the E.U is messy and could use some reform . But America really needs some drastic political renovation . If out of the 350.million people , the only choice is voting for one of two old men, (one completely insane the other demented ) , while a supreme court with enormous power has a handful of un -elected politically biased people who rule for life, you know democracy has fled the building a long time ago .
Apart from the story, SPACs should not be permitted. Potential public co's need full transparency before they go public.
Yeah, what does it do other than help shady people be shady?
It's amazing to me how many hardworking, but poor, conservatives are head over heels for this guy. It's so obvious everything he does is to milk people dry for his own lifestyle. He quite literally couldn't care less about America, it's people, and their laws. Only the final payout on any of his ventures matters. But because these people have been held down by corporate America for so long they're extremely desperate for anything and will believe anything in the hopes that it's real.
Not really. All you do is tell those blue collar workers that Mexicans are coming for their jobs and suddenly you unite the entire base in your favour.
The GOP has gotten very good at getting people to support things that go directly against their own best interests in favor of the interests of the wealthy
Most have had practice with being milked dry by the evangelical church, so it's not much different to them.
I do think Trump cares about America, in a somewhat patriotic way. Does he care about its people? I doubt it. I think it’s more about what America means as a symbol - power, capital, freedom, riches, etc
And I also think that’s why the poorer, right leaning demographic like him so much. This guy is not ashamed of the power that America represents and to push others down to make those value shine brighter
@philippefutureboy7348 your naïveté is exactly the problem with america. On one had you seem to have an idea of what's going on with Don the Con man and in the other, still give the guy credit where none is owed.
America is a picture of internal hostility. Many states are confederate states in disguise, fear and hate is fuled by the GOP/religious lies and conspiracy theories and all this while protecting the 2nd amendment that clearly needs to be abolished.
take it from a person in Canada, we don't see america in any shinjng light, especially since 2017.
Amazing comment elsewhere I found about this:
"I for one AM SHOCKED. How could a company that has lost over 100M in 2 years, possibly fail??? It made 4M last year. That obviously means that it should be valued at 8 BILLION dollars."
Well, that sounds about as snarky as Liz's explanation. 🤣
Don't forget to include low user engagement
If Trump wins the Presidency, it will be worth something assuming Trump doesn't just cut a deal with FB or Twitter.
then you buy it.
@@richardarriaga6271 Do you think Trump can keep from selling that long? He has $464M to pay, THUS FAR.
Seems more like a house-of-cards than a business model. Still, it definitely serves as a stark reminder of the power of meme stocks and the influence of high-profile personas on the market value.
facts.
that certain "personalities" break the rules.
"Pardoned on his last day in office." Oh my actual god. It's 2024 and I'm terminally online, how am I STILL learning new, horrible things about the trump presidency
Wait till you hear about all the executions he rushed through in the final days, once he realized he really had to leave office. Priorities...
"The first pair of magical underpants was Truth Social..."
Even without context, this sentence makes more sense than it should
Underpants are seriously soiled
Donald Trump is a magical underpants salesman. He is a gambler.
'Leave me outta this.' -Captain Underpants, More-Suitable President then Angry Orange Cheeto-Man.
@@Claymann71Joe Smith would like to talk to you about magic underpants and wooden Jesus submarines..
@@jmhiss Ah, the infamous golden skid mark.
I find it interesting how his children demanded a share. Not from his 90% slice of the pie, but from the small leftover bit that the people actually doing the work have to share.
Such a talented family
It's gangsterism pure and simple. But even the Mafia had a code, the Trumps have zero integrity
"Demanded?" I think the most fitting term is "Extorted."
Doing the work... or putting up the money! The crazy thing here is that this news story actually has lefties cheering for people trying to get rich playing the stock market or even actually providing working capital for a business...
Trump would not give it to his kids . They are bullies who would give money they worked for away for nothing. What do the kids have on these guys.
I am more fascinated by his system.
I wonder HOW is he able to get hard working regular folks to donate money for his legal bills while he's living the billionaire lifestyle and trashing the lives of anyone who partners with.
There's a sucker born every minute.
You know, there is a reason, that in parts of germany, there is a saying that someone "macht einen Amerikaner" , meaning suing anyone worth suing for the pettiest and most ridiculous reasons imaginable just to get money out of them.
Tough but fair. I only hope with time they change it to "macht einen Trumpf." Stings a little less.
@@Brasswatchman Given that we still have IP troll attorneys, maybe it should be "macht einen amerikanischen Anwalt"... (Google Translate grammar)
Germany is the LAST country to be pointing any fingers.
@@JustAnotherJarhead In terms of litigiousness? Haven't heard a whole lot about Germans and lawsuits.
Ohh, this lady is really good at being a story teller and letting the audience know exactly what happened in plain language. Thats a great skill.
Her podcast is 100% worth a listen.
@@Kaderon11 well when she is not helping to steal them that is.
and she has serious hand restraint! did you see that?!
She should get a real job that makes use of those skills! Oh, wait...
@@towTruck42 lol
I've often heard it said before that if the only penalty for a crime is a fine, then it's legal if you're rich. And I fear that's sadly also the case for well-monetized corporations, who can easily eat the costs of litigation and SEC fines for blatant securities violations and still come out ahead.
That is why the EU corporate fines are 10% of the company:s revenue, that amount stings regardless of how rich you are.
100%. Banks get slap-on-the-wrist fines for all their money laundering - it's just the cost of doing business for them. Same with the insider trading fines for politicians - make millions of dollars, pay a couple hundred dollars in fines.
@@Henrik_Holst That's a better way to do things.
Yep. Just a cost of doing business.
This is much darker when you think about situations in which negligence causes people to die, but the company concludes the cost of those wrongful death lawsuits pale in comparison to what it would cost to do a recall or fix the issue smfh
That line about Trump's fans falling over to be grifted by him is... scary accurate.
They know they are going to lose money, but they showed Loyalty....
And isn't that more important?
The Sunken Cost Fallacy is strong here.
At this point, I've learned to quietly look up anything that I see...say, at a friend's placethat makes me think, "Oh, that's kinda weird.". Got burned too many times at this point.
I still remember being over at who I thought was a close friend's place and seeing "I Hate Harry's" stickers on his PC and thinking, "The...shaving razor people? That's so arbitrary, what's the problem?" and brushing it off. I probably should have looked up that it's a Live Wire grift to sell their low quality crap to imbeciles that think "socialism" or "woke" is the biggest burn you could inflict on a person. Would have been a lot less of a shock when I found out that this "friend" attended Jan-6.
loyalty goes a long way.
One of the best explanation of how a SPAC works. Thanks!
On a serious note., these SPACs need to be de-listed. They are just loopholes for bad faith actors. Fat Bastard is exhibit 1.
Yeah. I was listening and just wondering HOW THE SHIT IS THIS LEGAL
@@chickadeestevenson5440 Lawmakers make shitloads of money from them. That's why.
SPAC are a common mechanism in business, sometimes they are used for backdoor offerings, but they have other uses.
Money .obesity faster than the law.
Yes and no. Its more so the ease of doing illegal things in the SPAC processs that makes it a danger to investors. DWAC announced its intent to settle their SEC investigation of the Trump SPAC by paying an $18 million fine revising some of its filings. That slap on the wrist ain't enough to stop shady practices of SPACs.
People in power shouldn't have companies on the side.
Like congressmen who have stocks in pharma companies and therefore block or allow drugs they know to be safe or unsafe because they know company x won't support if they go against their interests? You don't need a formal conspiracy when interests converge. Example mithpristone tell me Congress doesn't have a stack in trying to ban something that's been tested for years without adverse effects. If you believe the example I have a section of the Brooklyn bridge to sell
Lobbying (legalised corruption) is a bigger problem than politicians owning businesses tbh
Remember when they made Jimmy Carter sell his one peanut Farm because of fear of corruption and insider trading
It kind of depend on what company we talk about. Jimmy Carter had a company, but I doubt that anyone was at the time seriously concerned that Carter will use his powers to self deal money or put competitors out of business.
@@michalsoukup1021 True, but Carter let go of control of his companies before/upon becoming President. Trump never really did, as he was still being asking about business decisions and giving directions whilst in office, even if he nominally wasn't listed as the head of the business. In theory (that is, should the law actually be enforced), no federal officer is supposed to simultaneously head/have stake in a business. Again, sadly, in theory.
The 4M is honestly the most confusing part, they’d have been much better off just not monetizing at all yet, claiming they’re “pre-revenue” and “building the user base before we turn on monetization” and then just made up numbers for what they could be making if they wanted to. Actually selling ads makes this whole thing so much harder on them.
I love that you used the underpants gnomes as an example. Brings back memories from when my husband and I were dating. Ok, that sounds weird. We used to get together with friends and watch South Park. Those were fun times.
Legal terms aside this is much akin to allowing the guy responsible for the Fyre Festival fraud to do a round 2 to pay for his legal bills.
Haha!
Except in this Trump Festival, he wins either way
The internet historian does a great video about that. My favourite part was how it was meant to be on an island previously owned by Pablo escobar but they blew that by bragging about it
"If you've been accused of insider trading, fraud or overthrowing an election... well you can probably go somewhere else." 🤣🦅
That has been his problem for years. Reputable lawyers take a wide berth, so he must make do with those who barely keep themselves out of prison.
I mean, now he's straight up aping Bernie Madoff.
Can't believe phrases like "meme stock" are now a part of the public lexicon.
“As of the time of this recording, the stock has fallen almost 50%, into the low 40s” at 36 rn 😂😂😂😂😂😂😂😂😂😂😂😂
Can you imagine the judge in the first DJT shareholders lawsuit? You bought stock in a company majority owned by the world's most infamous con artist & fraudster and you're suing ... to get your money back? HA HA HA HA HA! Case dismissed!
@@Ericwvb2😂😂😂😂 true
"Truth Social", "Reality TV". You were right, Mr. Orwell.
I had to put a towel under my screen to handle the sarcasm dripping off it - this is a brilliant piece.
Meanwhile I cannot tolerate it.
You think the stock market's very stable right now? Have you heard of the Great Depression? This needs to be approached extremely seriously. I truly cannot listen to her; she immediately lost all credibility with that sarcasm.
@@XXMatt0040XX Would you like some cheese for your whine?
Trump's nonsense is only impacting his own financial security and that of his cult.
@@XXMatt0040XX Do you happen to have stock in DJT, be serious my guy, this aint wallstreet bets, and frankly if your stock market is so unstable that a YT vid collapses it, i'd argue its foundations aren't that stable, and should probably be overhauled.
Liz is really good, as regular readers of Wonkette and Above the Law will attest.
Tell me about it!!
"As of the time of this recording, the stock has fallen almost 50%, in to the low 40's."
As of the time of this comment, the stock has fallen 20% from /that/ value, to $33.03.
Being a "meme stock", I guess it's apt that soon we will probably be able to say of it's value "Aaaand It's Gone!"
I really wish that the emoluments clause had actually been enforced.
5:52 hearing a professional lawyer and well educated person say so calmly "the first pair of magical underpants..." caused me to spit my drink!
It's Apollo Justice all over again XD
Liz is my new favourite person, lol
@@KittyKatty999the fact that Trump allegedly was inappropriate withunderage girls makes that Apollo Justice reference even more on point lol
Just proves she is unprofessional and he's not very well educated.. both brainwashed by their own bull
@@91djstarwhat about your hero biden..
My father-in-law offered me money to buy DJT stock. I refused on ethics. I should have taken his money and waited to buy it later. It's a real-life short.
You might still have a chance to short...
Buy it, then sell deep in-the-money calls against with a year until expiry. Worst case scenario it gets pulled away from you and you don't profit if it takes off or stays put (but still have some of the money from options sales). Best case scenario, it tanks and you still walk away with a chunk of the cash in the form of the premium from the sold options. Middle case, theta does the heavy lifting for you and you profit off dumbasses trying to leverage their long positions through naked options.
There's ways to turn such an offer into a position that isn't ethically odious.
It lost over 10% in one day, so I'd say shorting it might still be pretty lucrative. At the moment it's at $36 and my personal prediction would be that it's under 20 by the end of the week.
Myregalds The cost of shorting is not trivial. Shorting DJT is an order of magnitude more expensive than even the second most expensive.
I'm holding fire until I short it. Give it a few weeks. Trump will find a way of artificially inflate the stock. That's when we strike
I love how much South Park has influenced the legal profession. There's really only corporate and financial lawyers thinking of the Underpants Gnomes whenever they see a half-formed business plan, and The Chewbacca Defense. But that's still two things lawyers carry around with them from a show that features a singing poop.
The stock plummeted in one day and never recovered, at this rate it will be a penny stock in a month or two.
Still over 2x pre announcement...
@@I_Dont_Answer_Questions and rapidly dropping lol
@@I_Dont_Answer_Questionsit erased all gains it made after going public yesterday. Most puts on 4/12 and 4/19. It'll crater by the end of next week.
14:10 "because what would a Trump business be without neoptism" 💀
But making someone CEO who has a degree in agriculture is actually quite genius. Atleast he's used to dealing with bullsh*t.
Hopefully the SEC comes after him for lying publicly about the value of the stock to try and get it to go up
the SEC is useless, the civil suits the co-founders are filing against him in Delaware are more likely to have teeth.
the sec doesn't go after people whose dad was a billionaire
The SEC is useless, toothless, hopelessly bought and paid for, and dumb.
@@schloops8473 True sadly
Don't hold your breath... (Not being cynical. Just realistic.)
Not gonna lie. The South Park Underwear Gnomes clip just broke me. LMAO!!!!! Great job editors!
Anyone else constantly reading it as "Teenage Mutant Tinja Gurtles"? 😅
“…hooked up with a money-man from Miami named Patrick Orlando” yea that checks out, big FL Man energy here
This is an absolutely savage takedown of this nonsense. Absolutely love it. Looking forward to seeing more of the Chaos Lawyer in the future!
I’m selling tshirts thst say, “I’m a real truth social member!” Only $500…what a bargain!😂😂😂
It's down about 50% from its opening high.
Love to see it.
All SPACs are trash, this one was born in a burning Dumpster. The Tangerine Despot will never see a thin dime. Hilarious.
Tronald Dumpster fire strikes again
This woman explains what's going on with the issues. Clear and concise. Go for it!!!!!!
Her name is Liz Dye and she recently started a podcast called Law and Chaos if you want to hear more from her.
@7:25
A stat that wasn't spoken about is bounce rate. I didn't know what that meant, so I did a quick google dive, and here's what I found in case others don't know either:
Bounce rate is the percent of people who leave the website after only visiting one page on the website. They don't browse the site, just arrived at a post or page via Google and leave immediately.
A high bounce rate isn't a bad thing for reference sites like Wikipedia, cooking recipes, dictionaries, etc. However, for social media sites, where you are expected to browse multiple posts, check inboxes, your main pages, a news feed, maybe a friend's page, that isn't great.
A 52.2% bounce rate is hilariously bad for a social media site, or so I gathered.
I’ve only watched this channel a few times; I keep forgetting how good y’all are! Thank you for this, I’m subscribed now and looking forward to more!
This makes me think of the South Seas Company. If you've never heard of it, look it up. It's a wild story about how a company that never made a dime was essentially given a blank check by the UK government to offset government debt. Very illegal now, at the time, they were able to bribe damn near every MP to look the other way. It took the appointment of the UK's first Prime Minister to sort it out.
There's a famous book "Extraordinary Popular Delusions and the Madness of Crowds" that goes through past bubbles and meme stocks (they weren't called that back then). For example the Tulip mania, and early railroads in the US.
Again and again people fall for a good story, and when other people see the item going up, they buy into it. Pyramid schemes work that way. Recent ones include the Dotcom boom around 2000 and mortgage-backed securities in the later 2000's.
Don't invest on a rumor. Do your detective work and understand how the given company or project will work, and how likely it is to make a profit. For example, Truth Social spent 62 million last year to earn 4.1 million in revenue. You don't get rich spending 15 times what you earn.
Startups do typically lose money at first, but you have to look at the trend. Both Tesla and Amazon lost money in the early years, but revenue was rapidly growing and becoming a bigger share of spending. Eventually they turned a profit.
"Mom, can we have Tulip mania?"
"No Robert, we have Tulip mania at home."
Tulip mania at home:
Shout out to the contemporary Mississippi Company Bubble for somehow making French government finances even worse
The UK government were still servicing the debt until very recently. They paid off remaining outstanding historical debt in 2015 for the bubble, the Napoleonic wars, the Crimean war, and some other 19th century debts.
I remember reading about that. There was another company founded around the same time who’s name was essentially We Have A Plan To Make A Lot Of Money But We Can’t Tell You Anything About It that garnered an absolute fortune from eager investors, but then mysteriously vanished without a trace, leaving everybody very confused where their money went. Ha! Human beings! We never get less stupid!
@@Stevonicus
Three hundred year old debt…jeez, I’d hate to be waiting for that repayment
Wow, the level of sarcasm and mocking is next level and I'm here for all of it. Well done.
They wouldn’t even let me walk away from $10,000 of student debt. The billionaire gets to walk away from millions.
4:29 whoever made this graphic is an accurate genius. I thought at first it was actually something the Trump team wrote while to pretend to do the 2016 trick of pandering to the working class by attacking the owning class and neoliberalism, until I realized it was LegalEagle doing an edit 😂
just quickly wanted to say that Liz absolutely rocks 😊 love her sarcasm and the storytelling is amazing. please bring her back
I am not a fan, but that's because she decided to hang out and do a show with an accused sex pest for a year while he was dealing with the fallout of the accusations.
She is an excellent storyteller. She really provided some very wonky information and untangled a mess of details in a sharp and passionate way. Devin is still the master of youtube lawyering but Liz really provides some S-Tier professionalism. What a solid lawyer.
Well done! This case has more "pointers" than a C++ program!
:D I am one of the 10 kinds of people. Programmers and everyone else.
I'm one of the other : D
The emoluments clause is such a joke in America.
Trump's "bond" is a bad joke. Among the reasons why is that it ISN'T a bond! It clearly states that if Trump loses his appeal it won't pay; Trump "will." That is not a bond. Also the bonding "agency" doesn't meet the requirements, doesn't have the assets to actually issue such a bond, and isn't licensed to do so in NY.
There's a hearing shortly about it. One possibility is that the appeals court says "you're done, Donald." If so, James starts seizing Trump properties the next day.
Another possibility is that they give Trump some very short time to get a real bond. Whether he can then (and at what price) isn't clear. If he can't, it's game over, James starts seizing properties.
Even if Trump gets a bond and there is an appeal, there's zero chance of it letting Trump overturn the verdict entirely. James will be seizing Trump properties long before Trump's six-months run out on DJT. It may be totally worthless by the time she can start enforcing the judgement. But if it has any "market value" at all Trump's shares (the large majority of shares in the company) are exactly the kind of thing that James should seize first: they are easy to take (just bits on computers, really), taking them doesn't destroy the business (directly anyway), doesn't hit employees. But taking them means they go on the market fast, the state will "cash them out." That will crater the stock for sure.
I love Liz. Please bring her back again.
The first time there was someone other than Devin presenting I was crabby about it. But I have come to really appreciate the different perspectives and styles and Liz is delightful!
Absolutely. Beyond being absolutely brilliant at presenting, I like that she clearly has a bit more skin in the game. She clearly cares, while also still being clear, concise, and not overreaching. That's a rare combination. I'd love it if she did all Trump-related stuff, or at least as much as she has time for.
💯 responding for visibility. I am enjoying this video.
And now he's reportedly in trouble because he did get an offer from someone to post the full amount of the bond and he didn't tell the court. So the reduction was based on fraud.
The Reduction was illegal on its own, so lets just start stacking crimes. For being so out to get him, the SDNY courts have bent over backwards to make him happy.
Wheeee and put the difference in the bahamas or some tax haven account
I don't suppose you can direct me to a source for that? I know that the argument used for the appeal had some holes already, but it would be quite something if the appeal decision could be overturned based on this new evidence.
Who here didn't know more than all those stupid judges put together. Everything he says is a lie. Everything his lawyers say is a lie. Always.
@@Tsudico checking now -- three days ago, ProPublica (among others) did publish an article about Trump's lawyers failing to disclose etc. My search terms were "Trump offer."
Great job, Liz! As always, the channel's summary of legal drama in the news is greatly appreciated!!
I like the humor. Good integration of South Park reference.
Liz Dye is crushing it! Thanks for your reporting! Waiting for trump to fail utterly and become financially broke for real.
It seems like someone has invented and launched the biggest and legit laundry machine ever! What a disgrace... 😔
How many billions was spent on Ukraine?
@@compugasm not enough. One is a country that with Crimea is the second largest in Europe. The other is a liar, extorter and a corrupt politician, that people are desperate to give money to
@@compugasm Because lining the pocket of a corrupt criminal family is just as important as defending the national security of a democratic ally against an invading imperialistic authoritarian...
@@compugasm How many tacos were sold in New Hampshire?
Are we just asking random, irrelevant questions?
@@compugasm Ukraine got supplies. The money went to American arms manufacturers etc. What's your complaint about that?
this is my first liz experience, and although i was skeptical at first, this was very rewarding to watch. great addition to the channel.
That video was AMAZING! I have watched a ton about this and I have never seen anything close to this comprehensive and well explained coverage.
Oh America, where you sue the guy suing you every time.
Already have to pay for the lawyer.
Forget about it....
I don't think that's true at all
Sounds like the opening line for a new song...
I'll sue you for that 😂
Speaking of Trump Bibles... I'd love to see a video on the laws around churches interfering in politics and donating to political candidates, whether the Trump-branded Bibles work as a legal loophole, and how to report religious institutions who are violating those laws.
Meanwhile, for some reason we can't "report" people like Mark Zuckerburg when THEY interfere in politics, because... what? Churches aren't allowed to "interfere in politics" but tech billionaires can? I didn't know donating to a political candidate was illegal. Certainly, Zuckerbucks don't seem to be.
Are there such laws though?
@@jennifertarin4707 If there were, the Church of Happyology would have collapsed decades ago.
@jennifertarin4707 Yes. Any religious institution with tax-exempt status isn't supposed to endose or donate to any political party or candidate. If they do, they can lose their tax-exemption. At least, that's the simplified version as I understand it. It's almost certainly more complicated. Hence why I want a video!
I believe you would need to file a report to the IRS, as they handle the tax-exempt status of churches and nonprofits.
Liz Dye, for when you don't need a civil lawyer, you need a *chaos lawyer*.
Couldn't happen to a nicer bloke! I'm from Scotland, and he's despised over here. Vote blue!
It's the digital version of the old "book deal". Some hack politician would "write" a "book", and either get a huge advance for it or a large cut of sales for royalties and then lobbyists would buy them by the pallet at full retail to hand out at conventions or heat their homes.
I still don't understand how SPACs are legal.
I don’t quite understand why they exist, but if they do things in an aboveboard manner, it doesn’t sound illegal. But of course, this particular SPAC didn’t play by the rules.
@@joanfregapane8683 Oh no, this one's just completely brazen and not even attempting to hide. They are 100% legal.
Corporations have 1st Amendment rights, it's that crazy.
It is good for rich people who wants to avoid paying tax. Of course it's legal.
Me watching Liz explain things: 🤩
Me from random images of ex-president: 🤮
What a perfect use of the Underpants Gnomes!🤣
It honestly boggles my mind that anyone though Truth Social would be some kind of huge success. It's like they don't understand that there's this whole world out there outside of the USA where no one cares about Trump, at least not nearly enough to get an app just to hear listen what he has to say.
From out there (UK): We do care about Trump, we care that he never gets near anything approaching public office ever again.
I hope Trump is found guilty on all counts and a judge with balls puts him in a real jail and scares him straight
They also overlooked the tons of people who followed the Cheeto on Twitter because they hate him but needed to know what kind of whackadoo he was spouting in order to defend themselves. Those people aren't going to a new platform with him, and they certainly aren't going to pay for the privilege.
@@robertbass3667 with you, but would prefer him getting put in jail and that's the end of it and we can all just move on with our freakin' lives.
Listen to what ? Whinging whining lies and propaganda of a con artist that uses conspiracy theories and false claims of Divinity to grift money from his sychophantic dupes.
As someone that loves Liz Dye podcasts, and a Dye-hard fan, all I can say is
*Please make her a regular
Please make her a regular
Please make her a regular*
I've been listening to her for a year, and this is how I found out what she looks like
Loving this for Liz!
Liz Dye's Ride-or-Dye gang out here representin'
I just found her through this, I'm about to binge all of her content, she's hilarious.
As long as he has less subscribers than she does and he can put ad segments before after and interstitially to her segments, he will...
Can you imagine investing in Digital World, only to find out they invested in Trust Social.
I can't imagine ever hating a political party so much, or loving a politician so much, to willingly and knowingly throw money into a scheme/scam.
Even if Trump could sell those shares, "publicly" as soon as he started to, those shares would drop to zero almost instantly.
Thanks to publicity.
That's not the way Trump works. He will take peak stock price as the value, then take a bank loan from a friend inside a large bank (along with cash gift for the friend) using the stock as collateral. This money will dissappear, the bank will be left with nothing after the stock collapses, and these kind of frauds just get passed down onto normal bank account holders in the form of higher fees.
Trump will make bank on this, and it's the guy in the street that will pay for it.
Phillip.
He's hoping his followers continue to pump them a lá Gamestop
@@Whiteythereaper Gamestop was an innocent company caught up in a war between hedge funds (often illegally) shorting companies and then trying to destroy them, and a loose coalition of retail investors keeping the share price afloat until after the fund had to cover their short position and then cashing in the profits. It's called a "short squeeze".
This is a more basic SPAC scam like Nikola or Lucid where you pretend to have something you don't, con investors into buying shares for something worth only a tiny fraction of what that are paying, and then cash out as much as possible before you get caught.
Phillip.
No, Truth social isn't essentially a twitter clone, it is LITERALLY one. They just reused twitters public source code and changed the UI a bit.
Not quite. They took the Mastodon social software, which is open source, and basically changed the branding and a few details. Then they got in trouble for filing off Mastodon's license, which is a common requirement with open source. You can use it, but you have to credit the people who wrote it originally.
It's not like a social network is all that hard to initially create on the software side, either (in comparison to other types of web apps, I mean). Until you get to Twitter/Facebook scale, of course, but that takes the time and gets you the cash you need to handle that.
You could probably run the entirety of Truth Social on one web server and Postgres instance, honestly.
Oh thougt it was an overhyped mastodon server
It is a metaphorical clone, it is not a literal clone. That's not what a clone is. A literal clone is grown from transplanted nucleus in a fertilized egg to create an identical organism. Clones, literal ones, are biological.
@@florianfussl3769 Not quite, they just stole the core bits of Mastodon, buttheres no interoperability between Mastodon servers and Truth Social servers, which is something that is enabled in Mastodon instances (I use the word stole because they didn't originally attribute the source code, not until Mastodon called them on it)
I really like Liz Dye, she's a great addition to your team! Great episode Legal Eagle :)
...and this week DJT shares fell considerably. Looking to hit single digits or get pulled from the market by the SEC.
The very concept of a SPAC goes against everything I have learned over the past half-century of investing.
First: You invest in a company after doing extensive due diligence. Otherwise, you might as well take a match to your money.
Next: You invest in an individual after doing extensive due diligence. Otherwise, you might as well take a match to your money.
Last: You invest in yourself. If you don't, nobody else will.
I follow my grandfather's advice: _Spend your money on wine, fast women, faster cars, and squander the rest foolishly on _*_Real Estate._*
Yet these people are crying about this SPAC. They are probably the same ones that got burned when Nicola the EV truck maker went belly up. Smart investing means doing your homework and due diligence. The stock market makes winners and losers never get emotional when investing allowing emotions to determine what and when to invest is a sure strategy to lose your money
Life Pro Tip: Don't name a stock after yourself. When it hits the fan, it might not be good for the ego.
Pro tip #2: don't name a stock after yourself _again,_ when the last time you did that, the company went bankrupt.
You mean like Trump University, or Trump Steaks, or Trump Water, or Trump Magazine, or Trump Ice, Trump Vodka, or .......... endless list of failed companies?
@@jefflee6711
Trump Vodka was actually deemed to be fraud, left two distillers broke.
Thing is bankruptcy fraud is not a police matter in the Netherlands. As it's the Official Receiver (curator) who has to pursue it, and that one is.... paid out of the bankrupt company's assets.
So most company curators just want to wrap it up quickly as possible so they actually get paid and not do anything more than necessary.
So Trump Vodka was officially fraud, but fraud is legal in the Netherlands unless the FIOD (fiscal police) goes out of their way to pro-actively make a case. Which they almost never do.
Editing genius: That cat crunching on the treat: PERFECT at that moment.
SPAC: Never heard of these before. Granted I'm no expert on financial companies but still...
Is it just me or does everything about Wall Street and the financial world seem like a giant scam? A place where money is moved around but little actually gets done.
I think it's time to vastly increase the funding of the SEC.
Ramaswamy had his hand in a few of the SPAC failures out there.
@@bizdrone Wouldn't doubt it. That guy is shady.
And as of today - mid=$30 - it ia hilarious. My brother is an accountant and went thru the P&L and balance sheet and basically laughed at the "business"...
It drops about 10% at the opening bell every day, then bounces back a point or two. This is destined for the gutter.
Sure it keeps dropping but the PE Ratio is improving 🤣
That's the case with a lot of startups: laughable valuations, sometimes fed by short squeezes, such as Yahoo before people realized selling ads was the way to monetize clicks. Even Amazon literally didn't make a cent of profit for 20 years straight.
@@tridave9811 There is so much blue sky - with negative earnings, there is nowhere to go but up!
No need to be an accountant. Just google the total stock value and divde it by the revenue (a common measurement among stock traders). Here we have a traded stock value that at its peak was over 1700 times the revenue, anything above 50-100 veers into speculation bubble.
Yo I didnt expect to sit through the whole thing but this captivating law wizard Liz kept me engaged. Hell yeah.
Who in their right mind would invest in this thing,and it only has 3 employees 😅