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Waqif Shah Afridi
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Saturday 21 March 2020 21:14:18 GMT
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On 12 August, The Intercept and the Freedom of the Press Foundation sued the President over a service that sells his Truth Social posts, and nine other accounts, to paying customers sooner than the public gets them. It is called Truth API, on sale since 1 August. A paying customer's computer takes the posts straight from the platform. Everyone else waits for them to reach the ordinary feed. The list price is $100,000 a month, or $60,000 a month on a three-year commitment. The posts are public and free. What the money buys is arrival time. Truth API is designed, its launch release reads, for the organisations most affected by the cost of a delay in information: high-frequency and algorithmic trading firms. Markets already move on these posts, it adds. The feed carries Truth Social's ten most popular accounts. The complaint names eight, among them the President, the White House and the Vice President; it does not identify the other two. And the company selling the feed is the President's own. He owns the largest stake in it, roughly 41.43%, through a trust he alone benefits from. The suit does not ask the court to shut the service down, and Trump Media is not a defendant: it asks that the President stop posting official government information only where early access is for sale. No court has ruled on that. Trump Media answers that nothing here is secret, that customers get published, publicly available posts fractionally faster, and that licensing public data through commercial APIs is ordinary. On that last point it is right. How much sooner has never been put in a figure. In July: the fastest access, in milliseconds. In August: fractionally faster. A spokesperson: milliseconds sooner. Four descriptions, and not one number, in the company's statements, the complaint or its filings. Sources: complaint 1:26-cv-06867 (S.D.N.Y.); Trump Media release, 16 July; SEC Rule 425 filing, 10 August; AP; Fox News Digital. #TruthSocial #TrumpMedia #PressFreedom #Markets
On 12 August, The Intercept and the Freedom of the Press Foundation sued the President over a service that sells his Truth Social posts, and nine other accounts, to paying customers sooner than the public gets them. It is called Truth API, on sale since 1 August. A paying customer's computer takes the posts straight from the platform. Everyone else waits for them to reach the ordinary feed. The list price is $100,000 a month, or $60,000 a month on a three-year commitment. The posts are public and free. What the money buys is arrival time. Truth API is designed, its launch release reads, for the organisations most affected by the cost of a delay in information: high-frequency and algorithmic trading firms. Markets already move on these posts, it adds. The feed carries Truth Social's ten most popular accounts. The complaint names eight, among them the President, the White House and the Vice President; it does not identify the other two. And the company selling the feed is the President's own. He owns the largest stake in it, roughly 41.43%, through a trust he alone benefits from. The suit does not ask the court to shut the service down, and Trump Media is not a defendant: it asks that the President stop posting official government information only where early access is for sale. No court has ruled on that. Trump Media answers that nothing here is secret, that customers get published, publicly available posts fractionally faster, and that licensing public data through commercial APIs is ordinary. On that last point it is right. How much sooner has never been put in a figure. In July: the fastest access, in milliseconds. In August: fractionally faster. A spokesperson: milliseconds sooner. Four descriptions, and not one number, in the company's statements, the complaint or its filings. Sources: complaint 1:26-cv-06867 (S.D.N.Y.); Trump Media release, 16 July; SEC Rule 425 filing, 10 August; AP; Fox News Digital. #TruthSocial #TrumpMedia #PressFreedom #Markets

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