Maria Bartiromo CONFRONTS Devin Nunes Over Trump Company LOSING $4Bn

[Music] welcome back president Trump's Media company has had a volatile two weeks uh the stock finished down about uh 30% this week the company which operates Trump's truth social platform lost $4 billion in market value after gaining six billion in value during its debut on the NASDAQ two weeks ago for 2023 Trump media posted a loss of 58 million on revenue of $4.1 million in a regulatory filing the company also disclosed that its auditor had raised concerns about its ability to continue operating before its recent merger and IPO joining me right now is the head of trump media and Technology Group he is the CEO Devon Nunes Devon it's great to have you this morning thanks very much for being here always a pleasure Maria I was looking at the uh filing uh to the Securities and Exchange Commission and the loss when would you expect this company to turn profitable well look it's important to remember Maria that those numbers are based on what was the longest IPO in history so we were over regulated so if you actually look at the cost that we built true social our beached against big Tech an impenetrable beached that everybody said couldn't be done without using big tech companies that was built for a fraction of what many of these big Tech dinosaur companies were built for so even if you take take the ridiculous cost that it took us to get to this point we are well positioned why are we well positioned because we have no debt we're coming out of this with no debt a platform that works really really well that communicates to millions of people and then we have $200 million in the bank so as you as you move forward here we're looking at the entire ecosystem what does it take to make sure that we protect people in the United States and around the globe from these tyrants of big Tech who want to silence them so we're looking at the whole ecosystem whether that's through acquiring technology whether that's through Building Technology those are all the issues that we're that we're focused on and including you know making sure that we're dealing with like a three-year plan here uh where we can go out and and put this whole company together where we're not relying on big Tech there's never been a company like this and we're really the only game in town that can accomplish this and Maria you know you talk about something that's amazing I think this is the most amazing part about our company the retail investors so when we went out to get this merger we had it would it took a while one of the reasons not just the regulation but we had almost 400,000 people retail shareholders who had invested in this company now guess what's happened over the last couple weeks we think we've added over 200,000 new retail investors I would say there's not another company out there okay that has retail investors like this welcome back and I back with former chairman of the house intelligence committee Congressman Deon Nunes now the CEO of trump media Devon you were just talking about the activity on the platform truth social tell us more about that activity is it is it just about elections the conversation or is it broader than that what can you tell us about the users of Truth social right now and how they compare to your competition on Instagram and Facebook and Twitter well you know look it's you know we're the only game in town I mean obviously those companies have been around for you know a decade two decades sometimes longer and you know after that we're the next big game in town and we're the only one that's going to be able to compete with them so as you'll remember one of the things we set out to do when we built true social was we looked at what's the best of Facebook what's the best of Instagram what's the best of Tik Tok what's the best of Twitter how do we put it into one app well now we're doing something and been testing something that no one's done and that is how do you give a home to canceled channels to cancel documentaries how do you put streaming into our app that's something that we're testing we have tens of thousands of people that are actually now using it and Maria what we're actually looking at is you know people are cutting the cord so you have these Legacy big big companies cable companies satellite companies Etc so how do we take the best of say a Netflix an exfinity a sling and how do you put that integrate it into our app where ultimately it can also be used to cut the cord as people want to get to more familyfriendly pro-american type of content that's what we're going to provide now look we're a home for everybody we're a home for everybody which is why it's not just president Trump one of the most iconic brands in the last 100 years I mean that's a big reason why you know we know that we're popular but at the same time we're building quality technology that works and is unbreakable Devon before you go real quick on China how worried are you about Tik Tock the misinformation campaign as the CCP tries to infiltrate and uh get inv in our election in November well look it's about 100% chance and it always happens and it's happened forever I mean it's you know Russia's done it trying to remember in the old Russia thing it's like okay yeah the Russians do something yeah the Chinese are going to do something but don't forget probably the worst okay is the Democrats who control Facebook and Instagram and the other censoring conservative thought