--:-- John Bickley: This episode is brought to you by LifeLock. When you visit the doctor, you probably hand over your insurance, your ID, and contact details. It's just one of the many places that has your personal info. And if any of them accidentally expose it, you could be at risk for identity theft. LifeLock monitors millions of data points a second. If you become a victim, they'll fix it, guaranteed, or your money back. Save up to 40% your first year at LifeLock.com slash podcast. Terms apply.
--:-- John Bickley: With his legal costs continuing to mount, former President Trump has seen the infusion of potentially billions of dollars through Truth Social. How does the platform's value change the calculus of his campaign? I'm Daily Wire Editor-in-Chief John Bickley with Georgia Howe. It's Monday, April 1st, and this is Morning Wire. President Biden prompted outrage over the weekend after formally declaring March 31st, the day on which Easter fell, to be Transgender Day of Visibility. They're gaslighting the American people because of the coincidence of this made-up day versus an actual day that means something to billions of people worldwide. We discussed the backlash and the White House response. And the killing of New York City police officer Jonathan Diller draws thousands of mourners to the embattled city. Jonathan lived his life doing good for people, and it's now time for people to do good for all the officers he represents. Thanks for waking up with Morning Wire. Stay tuned. We have the news you need to know.
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--:-- Georgia Howe: Hey guys, it's Lian. Or should I say, 大家好,我是 Lian. You see, I've been brushing up on my Chinese with Babbel. Babbel is designed by real people for real conversations. All of Babbel's tips and tools for learning a new language are approachable, accessible, rooted in real-life situations, and delivered with conversation-based teaching. For a limited time, get 55% off your Babbel subscription at babbel.com slash wire, spelled B-A-B-B-E-L dot com slash wire. Rules and restrictions may apply.
--:-- John Bickley: Donald Trump's net worth surged to new heights over the last few days after his Truth Social app went public and scored a massive $8 billion valuation. Here with the details on what it means for the former president and how the cash infusion could impact the 2024 race is Daily Wire senior editor Cabot Phillips.
--:-- Cabot Phillips: Hey, Cabot. So break this all down for us. How much money does Trump stand to gain here?
--:-- Cabot Phillips: Quite a bit. So a few days ago, for the first time in nearly three decades, a Donald Trump business venture went public as the former president's social media platform Truth Social debuted on Wall Street to just a stunning welcome among stock traders. Share prices on the first day initially jumped as high as $78 before settling in around $62 when markets closed for the weekend. That brought the market valuation of Trump Media and Technology Group, that's the parent company of Truth Social, to a stunning $8.5 billion. This story is really laced with irony here. Remember, Trump only started Truth Social back in 2021 because he had been banned from both Twitter and Facebook. At the time, investors wouldn't touch his new business with a 10-foot pole, so he ended up putting up much of his own money. And as a result, now owns 60% of the company. That means his net worth now stands to grow by around $5 billion with this valuation. And that fortune likely would not even exist if he'd been allowed to stay on Twitter and Facebook, or if investors had gotten on board from day one.
--:-- Cabot Phillips: What does this mean for the 2024 race? So Trump could sell off just a fraction of his shares and still have more than enough money to self-fund his campaign if he chooses. That is very important because while campaigns can only raise limited amounts of money from each voter candidates themselves are allowed to donate unlimited amounts of cash to their own race That development comes at a time when Democrats have really been running laps around Republicans with regard to fundraising So at latest count, the Biden campaign and his allied super PACs had more than double the cash on hand compared to Trump, $155 million to $75 million. So this really should level the financial playing field.
--:-- Cabot Phillips: Now, it's worth noting that there are critics who say the stock value is wildly inflated here. Yeah, there are plenty of skeptics who say the $8 billion valuation is being driven more by excitement over Trump than anything else. And they do have a point. This platform only has around half million active monthly users. That is a tiny fraction compared to Twitter or Facebook. And according to financial filings, only generated about $3.5 million in revenue the first nine months of last year. For context, the online social network Reddit, which saw $800 million in revenue last year, only had a valuation of $6 billion at its IPO last week. So there's this initial excitement that might be driving this up. But what else might be playing into this really high valuation of Truth Social?
--:-- Cabot Phillips: Yeah, look, it might be trading on Wall Street like any other public company. But this is not a normal public company. Many investors, including scores of loyal Trump supporters, view buying stock in Truth Social as a sort of means of investing in Trump himself. But that is not to say there aren't folks buying in for non-political purposes as well. In election years, it is fairly common for traders to bet on the outcome of a race by buying up shares of companies that stand to benefit depending on which party wins. Now, traditionally, those folks are investing in energy companies or defense contractors. But this year they can essentially bet on a Trump victory by investing in his company directly. For obvious reasons, if he wins, the value of Truth Social will grow. If he loses, it'll fall. But clearly, a lot of investors are betting on a win in November.
--:-- John Bickley: Cabot, thanks for reporting. Anytime.
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--:-- Georgia Howe: Controversy erupted over the weekend after the White House proclaimed March 31st, that is Easter Sunday this year, would be recognized as Transgender Day of Visibility. Many Christians viewed the pronouncement as hostile to their holiest holiday. Here to explain is Daily Wire culture reporter Megan Basham.
--:-- Megan Basham: So, Megan, what exactly was this proclamation and why did it spark so much outrage?
--:-- Megan Basham: Well, Biden issued this proclamation on Friday, which, of course, Christians honor as Good Friday, the day that Jesus died on the cross. And he called on Americans to join him in, quote, lifting up the lives and voices of transgender people on March 31st, Easter Sunday, when ostensibly they would be lifting up the life of someone else. And it wasn't just the timing of the proclamation that was controversial. It was also the substance. Biden's proclamation described the same bans that many other Western nations, most recently the UK, have now enacted when it comes to minors as, quoting, hateful laws that target and terrify transgender kids. Now keep in mind, the vast majority of Americans oppose those kinds of treatments, which can result in sterilization and permanent bodily damage on kids So for both reasons the proclamation outraged many many Christians who felt that the president was stealing focus from the resurrection of Christ for something immoral.
--:-- Megan Basham: And then there was also some insult added to this injury when the White House also told military families that their children may not decorate their Easter eggs with quote unquote religious symbols or themes for the annual Easter egg roll. And it's worth noting, by the way, that 64 percent of registered voters identify as Christians. Slightly more than that, in fact, say that they believe Jesus physically rose from the dead. So that's a lot of potential voters for the Biden team to offend. And Republicans were quick to comment on their anger. The Trump team called on Biden to apologize. And House Speaker Mike Johnson said that the White House, quoting, betrayed the central tenant of Easter. And he called the proclamation outrageous and abhorrent.
--:-- Megan Basham: Now, I have seen, though, a lot of media outlets responding to this controversy, pointing out that Trans Day of Visibility was actually established back in 2009, and it's always been March 31st. So, of course, Easter moves around each year, but they say it's just a coincidence Trans Day of Visibility happened to fall on Easter this year. Could that appease some of this anger? You know, so far it really hasn't. And I think that part of reason is because while Trans Visibility Day may have started in 2009, the White House only began honoring it in 2021. And no president, including Obama, ever recognized it at all before Biden. So a lot of critics point out that President Biden was under no obligation to issue this proclamation on the same date as Easter, simply because he did so a few times before.
--:-- Megan Basham: And a lot of people pointed out that there were many other dates on the transgender holiday calendar that he could have chosen this year instead to avoid that, you know, coinciding with Easter. And that included a whole week in November that is dedicated to transgender awareness. And look, I think we also have to acknowledge that the Biden campaign has a pretty significant problem with Christians who consistently give him the lowest approval ratings. And to give you just a few examples for what's driving that sentiment, the Biden DOJ has thrown the book at Christian pro-life activists under the FACE Act. But when a transgender vandal violated the same statute by spray painting F Catholics on a church's walls and defacing its statue of Mary, the DOJ recommended no jail time. And then last year, three days after a trans identified shooter killed six Christians, including three children, White House Press Secretary Corrine Jean-Pierre notoriously said, quoting, our hearts go out to the trans community as they are under attack right now.
--:-- Megan Basham: Now, how has the administration responded to all this controversy? Well, White House spokesman Andrew Bates issued a statement saying that President Biden stands for bringing people together. The other side, he said, are engaging in cruel, hateful and dishonest rhetoric. But as the weekend went on, the entire messaging apparatus of the administration clearly doubled and tripled down on this proclamation. On Saturday, as the debate was raging at its fiercest on social media, Corrine Jean-Pierre posted a statement honoring the, quoting, extraordinary courage and contributions of transgender Americans. And X accounts for both the White House and the president echoed those sentiments on Easter Sunday. So very much not shying away from the outcry.
--:-- John Bickley: Megan, thanks so much for reporting. Anytime.
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--:-- John Bickley: New York City buried a hero over the weekend after a wake that lasted several days and drew thousands of observers. New York City police officer Jonathan Diller was laid to rest on Saturday Here to talk about the funeral and how Jonathan Diller death captured the national spotlight is Daily Wire reporter Tim Pierce.
--:-- Tim Pierce: Hey Tim, so let's start off with Diller's wife Stephanie who gave a very moving tribute to her husband on Saturday. What did she say?
--:-- Tim Pierce: Right, clips of Stephanie's eulogy for her husband caught a lot of attention over the weekend and the funeral ended up being a major event for New York. Thousands of well-wishers attended Officer Diller's wake over the course of three days, including well-known figures such as former President Donald Trump. Stephanie was there for it all. She finally gave her eulogy on Saturday, not even a week after her husband died. I wish Jonathan were here to see the incredible kindness and generosity that has been shown to our family. But I know in his own way he is here watching over us. I am so proud that thousands of people across the country are calling Jonathan a hero, but the truth is he has always been a hero to Ryan and me. The rest of the world is just catching up.
--:-- Tim Pierce: Here's Stephanie on the toll this has taken on her and everyone who knew Officer Diller. This is devastating. It's a devastating, senseless, and tragic loss for so many. Our family, our friends, and the entire city of New York. It breaks my heart that Ryan was robbed of getting to grow up with his dad. Jonathan had so many things he wanted to teach him, like how to play ice hockey, how to drive a car, ride a bike, to watch Ryan go to his first day of school and watch him graduate on his last. Then this moment stood out in particular. Toward the end of her speech, Stephanie made a few comments about the state of policing in New York. How many more police officers and how many more families need to make the ultimate sacrifice before we start protecting them? I don't wish this kind of pain on anyone.
--:-- Tim Pierce: Officer Diller also received tributes from many in the police force, as well as a posthumous promotion to the rank of detective and a badge number to honor the birthday of his one-year-old son, Ryan. Now, the funeral for the officer has dominated the news for days. Why did the death of this particular police officer become such an event? Yeah, it became a national news story, in large part on the backlash to progressive criminal justice reforms, as well as this pervasive feeling that police have been under attack in government and in the media since the Floyd riots of 2020. In particular, Diller's death has been seen by many as an indictment of New York bail reform. The man charged with Diller's murder had been previously arrested 21 times and was still out on the streets.
--:-- Tim Pierce: Right. And that funeral was attended by some high-profile politicians from both sides of the aisle. What can you tell us about that? Who showed up? Yeah, as we noted last week, former President Trump visited with Diller's family on Thursday. He stayed for about 40 minutes and offered a few comments. We have to stop it. We have to stop it. We have to get back to law and order. We have to do a lot of things differently because this is not working. This is happening too often. President Biden did not make an appearance at The Week, though he was in New York last week for a ritzy campaign fundraiser with former presidents Clinton and Obama. New York City Mayor Eric Adams, who was a police officer in New York before he got into politics, spoke about Officer Diller's bravery on Saturday. Today we mourn his life. Those of us who have put on the uniform now and know it could be one of us at any time. But not every politician was welcomed. New York Governor Kathy Hochul stopped by the wake for 10 to 15 minutes on Friday and was reportedly given a frosty reception by the family. She left shortly after being confronted by an emotional man outside.
--:-- John Bickley: Well, obviously, our prayers are with the Diller family as they handle this tragedy. Tim, thanks for reporting. Thanks for having me.
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--:-- John Bickley: Thanks for waking up with us. We'll be back later this afternoon with more news you need to know.
