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I cannot comprehend how a company can lose 45 million dollars in 9 months by running what is essentially a glorified Mastodon instance.
Nothing about Truth Social makes any sense.
Originally it was just a modified Mastodon instance with federation removed. They hired Alex Gleason who maintains a fork of Pleroma called "Soapbox" to make significant changes to the front and back ends of the site.
Gleason also runs a handful of federated Soapbox instances, all of which are dedicated to far-right "free speech" content, mostly Nazism (Poast) and Trans-hate (Spinster). He also helps admin many other instances dedicated to hate speech.
Gleason has indicated that Truth Social and Poast run on basically the same codebase.
Quite disturbing to see the microblogging equivalent of The Daily Stormer with a multibillion dollar market cap on the stock market...
To be fair, the code is not the content.
He was their technical director and the site is absolutely covered with Nazis. Find me a Soapbox instance that isn't.
One of the key features of Soapbox (outside of Truth Social) is that you can still see and boost content from other instances that have blocked yours. Gleason even created workarounds to defeat authorized fetch.
This is so that they can engage in Kiwifarms-style harassment.
I would absolutely say that the malice is written into the code itself.
Does Facebook, really? Or Xitter?