Meme Wars!
How to cook a Meme
Memes are so back! We finally got Reddit IPO last week and this week DWAC is finally de-SPAC’ing.
I discussed DWAC / Truth Social in “Positioning Wars” about how ridiculous it is that DWAC has a $7bn market cap compared to Reddit having a $7n market cap. And I was right (sort of!) because DWAC is now a $12 billion market cap, having added another $6bn since, including today in the pre-market as it is about to transition to its new ticker, the glorious “DJT”.
In a beautifully reflexive bubble (h/t
), Reddit couldn’t stay behind so it too added another $3bn of value, as if it’s a race to catch up on insanity.