EmbeddingGemma 2: an open, lightweight multimodal embedding model
deepmind.google·6d ago
AI Engineering
Hacker News·Aug 11·5 min read
More than 10 firms pay up to $100k a month for access to Truth Social posts
TL;DR
Truth API, launched in August, allows firms to pay up to $100,000 monthly for early access to posts from influential Truth Social accounts, primarily benefiting high-frequency traders.
✦ Why It Matters
Consider how social media trends can influence trading strategies and market movements today.
Key Takeaways
- Consider the implications of trading on social media data.
- Monitor developments in financial regulations regarding social media use.
- Explore partnerships with social media platforms for data access.
- Assess the potential for new revenue streams in your business model.
Full Summary
Truth API, introduced in August, provides high-frequency trading firms with rapid access to posts from influential accounts on Truth Social, a platform associated with Donald Trump. Customers pay between $60,000 and $100,000 monthly for this service, which is seen as a potential advantage in stock trading.
Despite reporting a significant loss of $238 million in the second quarter, Trump Media aims to pivot back to its social media focus after diversifying into cryptocurrencies. The company believes that the Truth API will create a new revenue stream, complementing its existing media strategies.
However, this initiative has sparked legal and ethical debates regarding the implications of profiting from a platform linked to a political figure. Trump Media's overall revenue increased to $1.7 million, but losses primarily stem from its cryptocurrency ventures.