Please show me any other companies with a > $6 billion market cap with < $1 million in revenue, especially companies that don't have heavy up-front R&D/capital costs.
All that matters for social media companies is user growth and retention. It's always possible to monetize attention. That's why Reddit, a nearly two decade old company that posted a $500M loss last quarter, is worth $10B.
Facebook didn't monetize until 5 years in, YouTube didn't really ramp up ads until at least 5 years in either. And it bled money for at least a decade. Snapchat also 4 years or so before monetization became a focus. WhatsApp barely had any revenue when it was purchased for $19B.
I'm not saying Truth Social is in the same caliber at all as the above companies, but inflated tech valuations happen every single cycle (see WeWork). There's over 1200 private startups right now with a valuation over $1B, many of which have low revenue: https://www.cbinsights.com/research-unicorn-companies
Literally every example you give has a stark, stark contrast to DJT. The number of MAUs TruthSocial has is a rounding error compared to Reddit, Facebook, YouTube, Snapchat, WhatsApp or Twitter when they went public or were acquired. Talking about "losing money" is pretty irrelevant - I wasn't even talking about profit, I was talking about top-line revenue. By literally any metric you can choose - users, growth, revenue, profit, tech maturity, etc. etc. - TruthSocial looks like a joke compared to similar companies at a public stage in their lifecycle at that valuation. The only thing that explains DJT's valuation is:
1. Meme stock
2. The cult believing Jeezus wants them to buy this stock
3. The most logical IMO, folks believing that if Trump wins the presidency that everyone who wants a pardon or some other government favor will start buying a shitload of Truth Social ads.
