Former President Donald Trump announced Wednesday night that he’s created a new publicly-traded company called the Trump Media and Technology Group and its first product will be a competitor to Twitter named Truth Social:

The *key* here is that it’s a publicly-traded company with cash on hand:

And the underlying public company he’s merging into is backed by some pretty heavy-hitters:

Patrick Orlando, the guy running the underlying public company, is an ex-executive of Deutsche Bank:

But Trump is already facing the threat of a lawsuit from Eugen Rochko, the founder of open-source social media platform Mastodon:

“I do intend to seek legal counsel on the situation though,” he told Talking Points Memo:

After Trump’s announcement last night, many on Twitter discovered the URL to sign up for the service. This journo from the Daily Dot even created an account for @DonaldTrump:

WaPo tech reporter Drew Harwell created an account for @mikepence:

Both those fake accounts were quickly shut down:

You can pre-order Truth Social in the Apple app store:

And LOL at the fake account for “@Jack,” who on Twitter is, of course, Twitter CEO Jack Dorsey:

Here’s “@jack” demanding that one of his employees, named “@jane,” censor an account and take down the posts:

If you’re interested, you can view the slide deck here (stock symbol for the underlying public company is DWAC”:

And notice the little orange media company at the bottom of the slide on the top left?

Yes, Mr. President. We *will* be there for this:

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