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News Groups Sue Trump Over Paid Early Access To Truth Social Posts

Authored by Owen Evans via The Epoch Times,

President Donald Trump was sued on Wednesday by two news organizations seeking to shut down a service that sells paid access to the president's posts on his Truth Social platform.

This illustrative photo shows a person checking the app store on a smartphone for Truth Social, with it's website on a computer screen in the background, in Los Angeles on Oct. 20, 2021. Chris Delmas/AFP via Getty Images

The lawsuit, filed on Aug. 12 in Manhattan federal court by The Intercept and the Freedom of the Press Foundation, challenges Truth API, launched on Aug. 1, a feed offered by Trump Media & Technology Group, which charges up to $100,000 a month for early access to 10 high-profile Truth Social accounts, including Trump's.

Trump often uses his Truth Social account to post news.

The lawsuit targets Trump in his official capacity as U.S. president, along with Natalie J. Harp in her official capacity as the president's executive assistant.

It also names Daniel Scavino (in his official capacity as White House deputy chief of staff and director of the White House Personnel Office), the Executive Office of the President, and the White House Office.

"Truth API delivers a direct, licensed, real-time feed of the platform's most market-moving Truths while advancing our strategy to monetize proprietary assets through a high-margin, recurring revenue stream," Trump Media's interim chief executive, Kevin McGurn, said in a July 16 statement.

"As adoption grows, we expect Truth API to become a meaningful, ongoing source of revenue for the company, creating lasting value for shareholders."

In an Aug. 10 earnings call, McGurn said the company had signed more than 10 customer agreements for Truth API, primarily with "high-frequency trading firms," at "rates generally in the range of $60,000-$100,000 a month."

In the complaint, the plaintiffs called the Truth API service an "astounding scheme" because the president stands to gain financially when subscribers sign up.

"This scheme is extraordinary, corrupt, and unconstitutional, and Plaintiffs bring this case to stop it," the plaintiffs said.

The lawsuit claimed that granting preferential access to Trump's public statements to paid subscribers violates the First Amendment, which it says guarantees Americans equal access to the president's public announcements, as well as the Fifth Amendment, which it says prohibits the government from imposing extortionate or unreasonable conditions on the availability of government benefits.

"There is no legitimate interest, let alone a significant one, in permitting President Trump to profit from selling government information," it said.

"The President stands to gain financially by giving 'market-moving' government information to those who are willing and able to pay his personal company."

According to the complaint, many of Trump's 9,000 to 11,000 Truth Social posts and reposts during his second White House term were not followed by official White House statements.

A Trump Media & Technology Group spokesman told The Epoch Times by email that information from Trump is "disseminated by countless platforms and news outlets, many of which offer subscription APIs."

He said that one of those channels is Truth Social, "which was founded as an uncancellable haven for free speech after the President was unjustly deplatformed."

"Now, left-wing activists are trying to wrongfully weaponize the courts to censor him again and harm our shareholders," he added.

The president is Trump Media's largest shareholder. His eldest son, Donald Trump Jr., is a Trump Media director and oversees the trust.

Other accounts offered through Truth API include those of Vice President JD Vance, Health Secretary Robert F. Kennedy Jr., FBI Director Kash Patel, and the White House itself, the complaint said, adding that these are the 10 most popular accounts on Truth Social

"Trump is trying to enrich himself by privatizing government information that he has no right to sell," said Ben Muessig, editor-in-chief of online news outlet The Intercept.

"A president selling priority access to news he himself generates for the benefit of a private company he controls is so blatantly corrupt and unconstitutional that it would have been hard to even fathom just a few years ago," said Freedom of the Press Foundation's chief of advocacy Seth Stern.

The Epoch Times has contacted the White House for comment.

Reuters contributed to this report.

Tyler Durden Thu, 08/13/2026 - 17:00

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Anthropic's $2 Trillion Bet Is That Nothing Goes Wrong

The most revealing aspect of a $2 trillion Anthropic IPO is not the staggering valuation, but the suspension of disbelief required to justify it.

To buy into that number, investors must assume that artificial intelligence is becoming economically indispensable at breakneck speed, that a formidable moat will protect a handful of frontier-model developers, and that the exorbitant costs of computing infrastructure will not eventually crush their margins. More crucially - they must wager that the political, technical, and institutional risks inherent to an increasingly geopolitically competitive landscape will play second fiddle to the growth story. 

Dario Amodei, CEO and co-founder of Anthropic, attends the annual meeting of the World Economic Forum in Davos, Switzerland, Jan. 23, 2025. (AP Photo/Markus Schreiber, File)

Reports of Anthropic's internal projections describe a company scaling at an unprecedented clip. If it can actually bust out an annualized revenue run-rate of $100 billion while expanding its enterprise market share, a trillion-dollar valuation begins to look mathematically defensible under current tech multiples. But this arithmetic obscures a deeper structural flaw: the very capabilities driving Anthropic's revenue growth are simultaneously engineering the risks most likely to vaporize its premium.

As frontier models become more autonomous, persuasive, and capable of executing multi-step objectives across outside systems, they cease to be conventional software. A text generator hallucinating an answer is a glitch; an autonomous agent hallucinating a cyber-attack or a rogue financial transaction is a massive liability.

The recent internal turmoil and safety-evaluation controversies at both OpenAI and Anthropic are symptomatic of this shift. Major AI labs are now diverting substantial resources to test for autonomy, deception, and loss of control. This is not merely an engineering challenge; it is a fundamental transformation of the product category. The instability roiling these companies is not a byproduct of poor management - it is a structural consequence of trying to shoehorn a potentially world-altering, highly volatile technology into the framework of a standard venture-backed corporation.

The company's value has been all over the place in prediction markets - recently hockey-sticking following a report in FT in which six company backers said that Anthropic's rapidly rising revenue "would enable it to more than double its current valuation in a planned autumn float." 

Will Anthropic's valuation hit (HIGH) $2.0T by December 31?
Yes 60% · No 40%
View full market & trade on Polymarket

"If Anthropic is growing 800 per cent a year, you'd think at the incredibly low end they would trade at 30 times [revenue]," one investor told FT, adding "That would make them a $3tn company."

Anthropic is a particularly pure expression of this tension over its capabilities. Their basic pitch is that frontier capability and rigorous safety can coexist - a positioning with immense commercial value to risk-averse enterprise clients. Yet - after Anthropic spooked the shit out of everyone with its hackbot 5000 (Mythos), China went full Leeroy Jenkins through the field with cheap, efficient, capable open-weighted models that carry none of the moralizing - just performance at a better value. When a safety-first AI company repeatedly triggers control warnings in its frontier models, it erodes its core value proposition. In effect, Anthropic is running two races at once: one toward greater capability, the other toward greater control.

The great convergence between open and closed.

The problem is that the $3 trillion in funding commitments by OpenAI/Anthropic assumes frontier prices remain stable https://t.co/8u0zDGUgwM

— zerohedge (@zerohedge) August 13, 2026

OpenAI offers a different flavor of the same crisis. Its explosive adoption set the template for the modern AI platform, but its boardroom coups, leadership exoduses, and chronic debates over deployment safety illustrate the inherent friction between mission statements, capital requirements, and commercial incentives. The industry has engineered a relentless feedback loop: capital buys compute, compute yields capability, capability drives revenue, and revenue attracts further capital. But with every revolution of this flywheel, the control problem magnifies. The commercial boom and the governance crisis are not parallel events; they are the same phenomenon viewed from different angles.

Because of this, conventional revenue multiples are highly suspect. Even if Anthropic achieves a massive revenue run-rate, standard tech valuations demand continuity between current sales and future cash flows. Frontier AI's economics, however, are unusually discontinuous. Cheaper, open-source alternatives threaten to commoditize baseline intelligence, while corporate customers are already demonstrating price sensitivity by opting for smaller, highly efficient models for routine tasks. Technological leadership does not guarantee pricing power. The industry has proved that better AI generates demand; it has not proved that every incremental leap in intelligence creates proportionate economic value.

Catch-22

An alternative lens for these valuations is that investors are not buying a software company; they are pricing a call option on the strategic control of machine intelligence.

Anthropic’s backers say booming demand for the start-up’s advanced AI models and tools justifies their lofty expectations © Chris Ratcliffe/Bloomberg

If advanced AI becomes the foundational infrastructure of the modern economy - underpinning software, finance, defense, and medicine - occupying that central node yields unprecedented economic leverage. But here's the catch-22: If frontier AI becomes as strategically vital as a trillion-dollar valuation implies, governments will not allow its proprietors to operate as ordinary private entities indefinitely. The stronger the financial case for these valuations becomes, the stronger the political case for national-security classification, severe regulatory constraints, and sovereign oversight.

An Anthropic IPO would therefore be more than a liquidity event. It would be the public markets' first attempt to price the frontier-AI paradox.

 

Tyler Durden Thu, 08/13/2026 - 16:40

"She was happy and smiling right up to the end, watching all her TV shows in bed surrounded by the flowers I constantly bought her," Emma said.

The 'Burrito' Debate: What's It Really About...

Authored by JD Breen via Pretium Insights,

Two years ago, “conservative” pundits rightly ridiculed the Biden Administration for suggesting inflation was fine while blaming its poor approval ratings on Americans’ ignorance of how little they were spending. Now, under the Trump Administration, the same “influencers” mock young people for noticing how much things cost.

Last week a “burrito debate” erupted when a college student said burritos shouldn’t cost twenty bucks.

One of our TPUSA college students gave me his take on affordability:

“A burrito shouldn’t cost $20.”

Yeah, a lot of this is a hangover from Covid and Biden-era inflation, but the lived experience is the same: It just feels like basic things cost too much. https://t.co/GEvmbea57o

— Andrew Kolvet (@AndrewKolvet) August 4, 2026

Many respondents promptly missed the point, explaining that most burritos don’t cost that much, and that these entitled whiners shouldn’t be eating out anyway. They should cook at home and subsist on ramen and beans, just like those critics (claim they) did.

But the student’s observation was less about burritos being expensive than the undeniable fact that the cost of many essentials keeps going up, to the detriment of those born too late to acquire assets before they soared in price.

Whittled Away

The tone-deaf response to a legitimate complaint isn’t just wrong. It’s economically, politically, and culturally idiotic. This isn’t about pulling up bootstraps, driving a beater, or walking uphill both ways.

Telling people that things they buy don’t cost what they’re paying probably isn’t going to change minds or win votes. Nor is advising them to eat beans because a degraded dollar has boosted the price of beef.

General price increases started decades ago, deriving from government spending, unlimited credit, and State meddling in essential industries. It’s no coincidence that housing, medical care, and education… sectors near the money spigot and with the most government subsidies, restrictions, and mandates… are among the least affordable, and whose customers incur the most debt.

That these increases accelerated after the 1970s… with the proliferation of student loans, expansion of Medicare, and advent of the “Greenspan Put”… also isn’t a coincidence. Nor is the “Nixon Shock” in 1971.

Wages have also risen, though not enough to compensate these costs. Even the yardstick is being whittled away. The dollar has lost about a fifth of its purchasing power this decade, almost half this century, and nearly 90% since it was divorced from gold in 1971. From the founding of the Fed in 1913, it’s almost entirely gone:

During this time, fiat money has fueled the financial system. Fiat currency creation instills distortions, depending on where the “printers” decide to distribute the loot. Connected insiders control the pump, and receive the first infusions when new cash is created.

This is how counterfeiting rings work, to quickly enrich initial recipients while slyly ripping off those forced to fill up last. Among the laggards are wage-earners, who tend to receive more pay after prices of assets (that young people own less of) and consumer goods (which they must buy) have already risen.

Instead of sound money that encourages investment and savings, we get banker bailouts, entitlement boondoggles, non-stop wars, and less affordable stuff. Under inflation, even items with falling nominal prices (software, televisions, mobile phones) cost more than they otherwise would.

A Separate Argument

Millennials and Zoomers didn’t cause this problem, and their wasteful spending habits don’t make it worse (though many of their proposed “solutions” will). For them to be scolded for financial irresponsibility by generations that compiled over $100T in public and private debt isn’t a good look.

The debate isn’t about burritos. Those are symbolic. The point is that U.S. “leaders” have wrecked the currency to pay for foreign wars and domestic boondoggles at the expense of Americans who resent being ripped off. Many are young people who were pilfered before they were born, and inherited the mess bequeathed by the people berating them.

Why must we act like their animosity isn’t understandable? Instead, youngsters are told to grab their bootstraps, get roommates, and eat ramen (all of which most of them already do) so that being robbed wouldn’t hurt so much.

Spending beyond one’s means is a valid point when discussing personal finance. But it’s a separate argument. A college student with a low-paying job shouldn’t expect to afford an $80,000 truck or a half million dollar house. Fine.

But that’s obvious… and a distraction. No one is arguing otherwise. How people spend money is a budgeting discussion, and a worthy one. Yet the topic at hand is the declining value of what’s being spent.

Baby Boomers didn’t sit meekly when “guns and butter” ravaged their paychecks. Nor should they have.

Why should generations that came of age this century not be angry that their elders eroded the dollar, incurred debt, and rigged industries to fund wars, support the stock market, keep house prices high, and make food, fuel, education, transportation, and medical care unnecessarily expensive?

Buying burritos and lattes isn’t what’s keeping young buyers out of the housing market. Till this decade, the median first-time home buyer was in his early thirties. Fifty years ago, he was in his twenties. He’s now almost forty, with the typical homeowner pushing sixty.

Home prices are outrunning wages, which are generally lower for younger workers. According to the Bureau of Labor Statistics, a 20–24 year-old working full-time earns about $796 a week in 2025 dollars, down from $825 in 1979.

While real wages for all age cohorts are now rising, this is the only group still paid less than it was when Carter was president. The 25-34 bracket just recently slipped ahead. Others did so at least a decade ago.

Renting is an option, but not a great one:

Bipartisan Larceny

Eating burritos didn’t cause this problem, which isn’t a function of who’s in office. More than 20% of all U.S. government debt (in constant 2026 dollars) accumulated while Donald Trump has been president.

But he’s not alone. In real terms, Ronald Reagan doubled the debt. About 70% (85% nominally) was compiled this century, during which purchasing power was sliced in half. That’s not an accident, or because entitled brats bought iPhones.

Cumulative real (2026 dollars) borrowing is more than $63T, against almost $40T of nominal debt. Inflation has erased nearly 40% of the real value of what was pledged. Two-fifths of the obligations DC compiled have been surreptitiously discharged by devaluing the money it’s denominated in.

The government, fixed-rate mortgage holders, and other debtors benefited. Creditors, savers, and anyone who held dollars absorbed the loss.

Age-Based Antagonism

The “Burrito Debate” has exacerbated age-based antagonism that is unfortunate and crippling. Inter-generational cooperation is among the greatest attributes thriving societies possess.

We often learn more from other generations than our own, many members of which are competitors for status, positions, or mates. The young imbibe wisdom from elders, who receive energy from youth.

But a proliferation of memes about out-of-touch Boomers and slacker Zoomers breeds reflexive conflict that foments fragmentation, stagnation, and rot (which is why it’s probably partially contrived and intentionally stoked).

Young people do have a lot of advantages their elders didn’t enjoy. As is often reiterated, their lives would be science fiction to any human being who died more than two decades ago, much less throughout human history.

But that doesn’t mean they’re wrong about this. Because Medieval peasants lived in huts amid perpetual plague on the edge of famine doesn’t mean today’s youth should accept being afflicted with inflation.

Many of the youngsters’ “remedies” may be warped (as were most of their predecessors’ when they confronted earlier challenges and caused our current ones). But the problem is real. If the idea is to dissuade twenty-five year-olds from embracing socialism, it’s unwise to insist they tighten their belts while their elders get fat taking the meat from their plates.

At some point, the kids are gonna get fed up and want in on the racket. If their parents can print money and incur debt to sustain stock prices, preserve pensions, and wage wars, why not grab some loot for themselves, to make groceries “cheap”, healthcare “free”, and rent “affordable”?

As Much Right

These prescriptions are imbecilic.

But from the perspective of the perpetually fleeced who receive self-righteous lectures, they’re not irrational. They’re also politically potent, which is why it’s foolish to encourage revolutionary anger by treating reasonable gripes with arrogant condescension.

The people “helping the communists” aren’t the kids being attracted to it. It’s the beneficiaries of Fed counterfeiting, government debt, and protective regulation who keep denying the existence of a problem they caused.

Decades ago when the debt started accelerating, real conservatives warned that their grandchildren would be forced to pay for their profligacy. Now the grandkids are here, and they aren’t thrilled being stuck with the bill after those who ran up the tab left the table.

The “Greatest Generation” complained about their predecessors causing the Depression and a couple catastrophic World Wars. The Boomers protested when their parents gave them Seventies stagflation and Vietnam.

They were both right. So are Millennials and Gen-Z when they begrudge the idiotic wars, debt, and incessant inflation they’re saddled with.

Like their predecessors, they’ll persevere. But they have as much right to resent their ancestors’ malfeasance as their ancestors did.

Tyler Durden Thu, 08/13/2026 - 16:20

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