The Reason Trump's New Company Is Already Raising Eyebrows

Nearly a year since Donald Trump left the White House, it seems his latest business venture is focused on the many claims the former president believes are true. Amid theories Trump has possibly permanently ruined his financial future — many are concerned his post-presidential brand is simply bad for business — the erstwhile commander-in-chief has forged ahead with a company he's purportedly brewed over for months: a social media platform named Truth Social. 

A product of the newly-formed Trump Media and Technology Group (TMTG), the conglomerate promised that a beta version of the app would be available to select users as early as November, per ABC News, but it was promptly taken offline after hackers infiltrated the site mere hours after TMTG went public with the product.

Now, less than two months after Truth Social's failed public debut in late October, it seems the app and the company who spawned it are once again making the media rounds, according to Yahoo! Finance — but not for great reasons. In fact, it seems like there may be even more disorganization afoot.

As Axios noted in early December, Donald Trump's Truth Social startup is allegedly under investigation by federal authorities for what the outlet called "keeping basic details secret and making wild promises." 

The unorthodox nature of TMTG's setup, which is now headed by former GOP lawmaker Devin Nunes as CEO, was made clear by a pitch deck given to the U.S. Securities and Exchange Commission. Per Bloomberg, the company itself notes that Nunes has no experience in the tech or financial sectors — and, interestingly, could possibly be Truth Social's only executive employee as of this writing.

As Yahoo! Finance reports, other officers named in the deck had them listed by a first name and a last initial — for example, "Steve E." as the vice president of engineering and "Josh A." as the chief technology officer — which gives cause for speculation as to whether these are placeholder names or people actually hired. Perhaps even more confusingly, a presentation footnote claimed "personnel subject to change."

Additionally, Axios reported that despite TMTG's promised projections of $36 billion in revenue by 2026, it remains unclear as to how those projections were surmised, or what actual products aside from their planned social media app will lead to financial success.