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* Mark Maxwell in January…
Rumble, an upstart website with a reputation for spreading misinformation about vaccines and the 2020 election, has financial ties to the wealthiest political megadonor in Illinois, according to publicly available financial documents filed with the Securities and Exchange Commission.
A simple search for the word “vaccine” on Rumble’s homepage returned three times more videos with misinformation than accurate claims, according to research published in Wired Magazine. Rumble’s presentation and distribution of video content amplified misinformation about vaccines and elections more than any other topics, according to the study’s findings.
“Whether they claim that they are responsible for this information, they they are having a role in it,” said Emily Van Duyn, a University of Illinois professor who studies politics and digital media. “That creates a situation where they need to step up and take more ownership of what content is on their platform.” […]
The company was created to compete with rival YouTube, which has taken recent steps to stifle the spread of misinformation, such as false or misleading claims about the 2020 election results or COVID-19 vaccines. Those messages, often banished from YouTube, are welcome and widely available on Rumble. […]
When Rumble went public on December 1st, 2021, it did so with significant financial backing of Ken Griffin’s Chicago-based hedge fund, Citadel Advisers. The Chicago-based hedge fund pooled together funds in February of 2021 to form a a special-purpose acquisition company or “SPAC” (CF Acquisition Corp. VI VI). The Griffin-backed shell company officially “merged” with Rumble. It holds 826,864 shares in Rumble, which are now worth $8,028,849 and amounts to the fifth largest holding position in Rumble.
A recent investment analyst reported the company’s stock went “soaring 10% in December,” and boasts 8 billion minutes watched in the third quarter of 2021.
* Maxwell updates…
Booted from major American social media platforms, anti-Democratic Russian propaganda finds a home on Rumble, an alt-right misinformation amplifier.
Records show Ken Griffin’s Citadel Advisors now holds more shares in Rumble than any other investor.https://t.co/riO0Gy1ezk
— Mark Maxwell (@MarkMaxwellTV) March 4, 2022
* From Reuters…
Russian state-controlled news network RT said on Thursday it will begin broadcasting on Rumble, a YouTube-like video site, after tech companies including Meta Platforms (FB.O) and Twitter (TWTR.N) have restricted access to RT following Russia’s invasion of Ukraine.
Tech companies in recent days have moved to restrict Russian state-controlled media including RT and Sputnik in response to requests from governments and calls to prevent the spread of Russia propaganda. Russia has called its actions in Ukraine a “special operation.”
The Grif slate may have to deal with this.
*** UPDATE *** From a source close to the billionaire: “We have been out of Rumble for months. The position Mark reported is as of 12/31/21.” The facts “will be clear when its quarterly SEC filing is released in the middle of April,” the top source claimed.
I’ve updated the headline for now.
posted by Rich Miller
Monday, Mar 7, 22 @ 2:51 pm
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Anything for a buck.
Comment by very old soil Monday, Mar 7, 22 @ 2:56 pm
Now it gets interesting.
Comment by TheInvisibileMan Monday, Mar 7, 22 @ 2:59 pm
Irvin will be taking questions at the Statehouse Inn later this after. It is worth asking about why Irvin is taking money from someone who is making money from Russian propaganda.
I’m old enough to remember when Republicans hated Russian propaganda.
Comment by 47th Ward Monday, Mar 7, 22 @ 2:59 pm
But Irvin hadn’t been a Republican long enough to know this his answer may be interesting.
“I’m old enough to remember when Republicans hated Russian propaganda.”
Comment by Lurker Monday, Mar 7, 22 @ 3:02 pm
Is the slate going to divest from their Russian interests? If the leaders of their party want the state to (per Rich’s post below) then it should be time for them to come to terms with their own connection to profiting off Russian propaganda.
Comment by Long year Monday, Mar 7, 22 @ 3:03 pm
We already know this is absolutely fine with Richard Irvin.
WBEZ, 2/25
“Mayor Irvin…believes that Mr. Griffin, like everyone else in this country, is free to invest in whatever industry he chooses,” Irvin spokesperson Eleni Demertzis said.
Comment by The Opinions Bureau Monday, Mar 7, 22 @ 3:04 pm
File this under things that won’t resonate with voters
Comment by Carlos Danger Monday, Mar 7, 22 @ 3:07 pm
Well, having now clarified that they exited their position in Rumble, this will obviously no longer be an issue in the campaign. /snark
Comment by SpiDem Monday, Mar 7, 22 @ 3:10 pm
It can only be “months” since they sold their position if they did it in the last 7 days. Will be fun to see exactly when that happened, especially since they pointedly didn’t say today, which they certainly could have. But “months” sounds so much better, amirite?
Comment by Jibba Monday, Mar 7, 22 @ 3:17 pm
@jibba I was thinking the same thing. Months is a really generous frame for this, considering the report was from December 31, 2021. I am old enough to remember that day … 66 days ago. I have unexpired COVID tests older than that in my cabinet.
Comment by pawn Monday, Mar 7, 22 @ 3:23 pm
Three months isn’t long to be out of a Russian propaganda company.
Comment by The Velvet Frog Monday, Mar 7, 22 @ 3:24 pm
=== “We have been out of Rumble for months. The position Mark reported is as of 12/31/21.”===
So, Trump pal Peter Thiel puts in some VC dough, Griff and company pump in new investors, they go public December 1, and Griff is out by December 31?
I’m no expert, but this feels like a pump and dump stock scheme. Caveat emptor.
Comment by 47th Ward Monday, Mar 7, 22 @ 3:25 pm
==File this under things that won’t resonate with voters ==
Might not matter by November, but right now, folks is absolutely gaga for anything that “punishes Russia”.
Comment by Arsenal Monday, Mar 7, 22 @ 3:25 pm
We’ve not been helping Russian propaganda for months. there, fixed it for you.
Comment by Amalia Monday, Mar 7, 22 @ 3:26 pm
==It can only be “months” since they sold their position if they did it in the last 7 days. Will be fun to see exactly when that happened, especially since they pointedly didn’t say today, which they certainly could have. But “months” sounds so much better, amirite? ==
Reminds me of when they called Irvin’s law firm’s website a “deleted website” when it had only been deleted a day before someone asked.
Comment by Arsenal Monday, Mar 7, 22 @ 3:26 pm
So it was OK to invest and make big bucks off of this Russian controlled propaganda platform, but now that they backed out after people started paying attention, there’s nothing to see here? Just like it’s OK to make money off of guns that are involved in one out of four crimes in Chicago while at the same time complaining about crime in Chicago. That Griffin brand gets closer to the gutter every day.
Comment by Shytown Monday, Mar 7, 22 @ 3:28 pm
Why does Griffin expose himself to this stuff betting on a hugely flawed candidate in a blue state. Doesn’t make sense
Comment by Watchful eye. Monday, Mar 7, 22 @ 3:31 pm
Mark’s story was published Jan. 12. If they didn’t hold the position when he published I’m sure Citadel’s global head of communications would have mentioned that. So, they got rid of the investment after the story ran… the SPAC’s price went up when they offered Joe Rogan a deal during his Spotify troubles. What’s Griffin doing with those profits? Donating them to more slate candidates? Giving them to the people of Ukraine to apologize for profiting off their misery? Putting it back into his gun holdings? The hypocrisy is endless with this guy.
Comment by Long year Monday, Mar 7, 22 @ 3:38 pm
= We have been out of Rumble for months. =
Months? It was reported on January 12th. It hasn’t even been months since the story came out, and in that story there was a description by his spokesman trying to downplay their investment, not claim they ‘got out of it’.
Is there any penalty for his spokesman now making a misrepresentation to a member of the public about this though?
Because there are penalties for misrepresentations made to the SEC, and in other instances Citadel Securities has been fined 58 times for violating FINRA, REGSHO & SEC regulations.
The source may be making an accurate statement about being out of it for months(even though the story isn’t even months old), but I’d ask for receipts if it contradicts already known information. As of now, there is no independent document that can contradict the known facts when this was reported. Or even the words of the spokesman in the January story trying to downplay the investment.
I also remember when Ken Griffin stood in front of the Economic Club of Chicago last October and openly disdained the role of disinformation, while at the same time by even todays admission, he was an investor in Rumble where that same disinformation was welcomed.
Like I said, without receipts I don’t believe just the words of his spokesman.
Comment by TheInvisibileMan Monday, Mar 7, 22 @ 3:38 pm
== We have been out of Rumble for months. ==
Then whispers, ‘oh, but we WERE there.”
Spin & lol.
Comment by sal-says Monday, Mar 7, 22 @ 3:45 pm
==Why does Griffin expose himself to this stuff betting on a hugely flawed candidate in a blue state. Doesn’t make sense==
He can pull it off if he just sits down and shuts up soon. But his track record on that so far…
Comment by Arsenal Monday, Mar 7, 22 @ 3:55 pm
This kind of opposition research will probably end up hurting both parties. Anyone who can Google or read a 13-F filing can find plenty of links with Russia.
Comment by Three Dimensional Checkers Monday, Mar 7, 22 @ 4:00 pm
= a 13F filing =
How is that going to hurt both parties? How many Institutional Investment managers with over $100MM in assets filing a 13F do you think are the primary bankroller of a candidate to the tune of millions of dollars?
I mean, I’m sure there are more but it’s going to be heavily slanted in one direction - if not completely slanted in one direction.
I’m 100% positive nobody giving millions of dollars to the Pritzker campaign shows up in a 13F with links like this to Russian state-owned media.
Comment by TheInvisibileMan Monday, Mar 7, 22 @ 4:18 pm
Big nothing burger. Giant.
Comment by allknowingmasterofraccoondom Monday, Mar 7, 22 @ 4:20 pm
If days were months, we’ve been out for months.
Comment by Bruce( no not him) Monday, Mar 7, 22 @ 4:21 pm
“Big nothing burger.”
826,864 shares worth $8,028,849.
– MrJM
Comment by MisterJayEm Monday, Mar 7, 22 @ 4:29 pm
So this isn’t a problem, Irvin just needs to give back all the campaign donations he got from this guy. Right?
Comment by The Velvet Frog Monday, Mar 7, 22 @ 4:33 pm
billionaires don’t become billionaires by playing by the books or following ethical standards. that goes for both sides.
Comment by kenneth Monday, Mar 7, 22 @ 4:39 pm
Five minutes on the Google machine and it’s pretty clear that Rumble is to YouTube as Truth Social is to Twitter.
Also, how would you like to be the guy who bought those can’t miss Rumble shares from Griffin a few months ago and now you find out he’s dumped everything?
Comment by 47th Ward Monday, Mar 7, 22 @ 4:47 pm
=File this under things that won’t resonate with voters=
=Big nothing burger. Giant.=
LOL
Chicago has the largest Polish population outside of Warsaw. A large Ukrainian population. Other large slavick groups in and around Chicago.
When they find out this will be…Giant.
Comment by JS Mill Monday, Mar 7, 22 @ 6:39 pm
Disgusting.
Comment by Cosgrove Monday, Mar 7, 22 @ 7:24 pm
It is a free speech competitor to youtube. If you like free speech, then you like rumble. I can’t imagine the civil liberties argument against it.
Comment by gxceb0t Monday, Mar 7, 22 @ 10:59 pm
=== It is a free speech competitor to youtube.===
You tube isn’t free speech?
===If you like free speech, then you like rumble.===
I can like free speech without liking every speech I encounter.
===I can’t imagine the civil liberties argument against it.===
When you use free speech you have to face more free speech, some of that free speech is against what you said. That’s how it goes.
Comment by Da big bad wolf Tuesday, Mar 8, 22 @ 6:21 am
===If you like free speech, then you like rumble.===
State-funded propaganda doesn’t fall under the banner of free speech in a foreign country. Try again, Vlad.
Comment by Rich Miller Tuesday, Mar 8, 22 @ 6:57 am
In no way would I stand up for Griffin, but the average voter does not know who Ken Griffin is so I’m not sure what this story accomplishes. But if last year’s 13F qualifies for newsworthy topics, maybe we can talk about the Governor having investments in companies that are buying Russian-tied corporate debt?
https://www.inquirer.com/business/russia-wall-street-buys-bonds-goldman-20220307.html
Comment by WestSide Tuesday, Mar 8, 22 @ 7:37 am
No, youtube is not free speech. They ban plenty of things that they don’t legally have to. This is their right, of course, but some of us believe in free speech. Twenty years ago this was not a controversial position, particularly on a left leaning forum. I don’t care that rumble allows russian propaganda. I don’t care if they allow anti vaxxers. I don’t care if they allow the far right or the far left to post videos. I believe in free speech so I have no problem at all with rumble and what they are doing. It really is as simple as that. It is sad that supporting a company that supports free speech is somehow a bad thing around here.
All that said, just for the record, I had never heard of rumble before I saw this post, and I’d be happy to see russia lose in the ukraine and putin to be overthrown the hard way. It is sad that I feel the need to say that, but around here supporting free speech makes you a russian supporter apparently.
Comment by gxceb0t Tuesday, Mar 8, 22 @ 4:27 pm
=== No, youtube is not free speech. They ban plenty of things that they don’t legally have to.===
That is the essence of free speech.
=== It is sad that I feel the need to say that, but around here supporting free speech makes you a russian supporter apparently.===
Oh (banned words). Don’t your employers give you some basic education before they let you loose at the keyboard?
Comment by Da big bad wolf Friday, Mar 11, 22 @ 6:23 am