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Time Magazine
17-07-2025
- Business
- Time Magazine
Why Donald Trump Jr. Took the 'Amazon of Guns' to Market
Two years ago, Donald Trump, Jr. and Omeed Malik rang the opening bell at the New York Stock Exchange as renegades. They had just turned PublicSquare, a Yelp-like directory of conservative businesses, into a publicly traded company, marking the emergence of a movement rebelling against 'woke-ism' with their wallets. When the pair returned on July 16, the environment on Wall Street had changed dramatically. With Donald Trump back in power and waging war on corporate diversity initiatives, some of the nation's largest companies have eliminated so-called DEI programs, from McDonald's and Walmart to Boeing and Victoria's Secret. But as Trump, Jr. and Malik launch the IPO of a PublicSquare partner—the online gun retailer GrabAGun—the two suspect corporate America may be adjusting to the political climate out of fear and expedience. In contrast, they aim to build a lasting infrastructure for the MAGA economy. 'I think what separates us from them is: Where are they going to be in two years if the winds change?' Trump, Jr. tells TIME. GrabAGun is the latest in a succession of Trump-allied companies to go public through merging with a special purpose acquisition company, known as a SPAC. First, there was Rumble, a right-wing alternative to YouTube backed by billionaire Peter Thiel. Then there was PublicSquare. Following in his son's footsteps, the President used the same strategy last year with his social media platform Truth Social, taking its parent company public under the ticker 'DJT.' Most recently, Trump Jr. and Malik, a Republican mega-donor, have elevated the firearms seller some call the 'Amazon of guns.' It will trade under the ticker 'PEW'—as in the sound of someone imitating a gunshot. In their eyes, the pattern reflects the maturation of a so-called parallel economy. When PublicSquare went opened on the NYSE in July 2023, the firm had generated less than $1 million in total revenue. While the company is not yet profitable, it is growing. In the first quarter of 2025, it took in $6.7 million in revenue, compared with $3.5 million during the same period a year before, according to an SEC filing. Similarly, GrabAGun, which sells firearms and ammunition on its website, raised $179 million in gross proceeds from the merger, according to a statement from the company. Still, there are signs the parallel economy hasn't fully caught on. The traditional retailers they accuse of engaging in woke capitalism remain dominant in sector after sector. PublicSquare's stock is valued at only $2.37 a share. And after GrabAGun's IPO on Wednesday, the stock tanked by more than 20%. But the parallel economy's evangelists are betting that over the long haul, right-leaning countercultural businesses will be an enduring fixture of the American economy. 'I think it's still super nascent,' says Malik. 'This is less than two years old.' GrabAGun is just one part of the Trump family's expanding business portfolio, which includes multiple cryptocurrency ventures and real estate deals at home and abroad. The White House maintains that none of the family's private pursuits create a conflict of interest for the President, with his children now managing his assets. Critics say they create openings for Trump to advance policies that could help his family's bottom line. For Trump Jr., who joins the GrabAGun Board of Directors, and Malik, one of its financiers, companies like GrabAGun present opportunities to not only support alternative businesses but to push the culture in a rightward direction. As a grand project, they've been thinking about it for a while. After the election, when Trump Jr. was no longer tethered to the campaign trail, he signed on as a partner at Malik's investment firm 1789 Capital. 'Once that was done, it was always going to happen,' Trump, Jr. says. 'We've been talking about these ideas and this thesis for five years.' Despite Elon Musk's public feud with President Trump, 1789 continues to invest in several of the billionaire's companies, such as SpaceX and Neuralink, along with other private companies like Substack, Anduril, and Plaid. Trump Jr. and Malik became aware of the gun-seller through PublicSquare, as GrabAGun enlists their payment processing system, PSQ Payments. Malik then took the company public through a merger with his SPAC, Colombier Acquisition Corp. II. 'It's all part of the ecosystem,' Malik adds. 'You end up meeting these companies because of PublicSquare. GrabAGun ends up being a client and you start building all this.' Sitting in a boardroom above the New York Stock Exchange, moments after ringing the opening bell, Trump Jr. and Malik tell TIME they plan to expand their reach. Soon, they will pick another conservative company to connect to capital markets. 'We will do another SPAC, where we'll go public again with another shell vehicle soon and be back in the market for another high-profile, meaningful company to take public again,' says Malik. By then, Washington's makeup might be different, and they are banking on an 'all-weather strategy' to sustain their business model. In the meantime, the verdict is still out on whether the recent wave of avowedly ideological businesses is transitory or permanent, and whether a parallel economy inspired by the Trump movement can outlast Trump himself. For now, they see their welcome on Wall Street as a sign that times are changing. 'I think it's a vindication of our thesis,' says Trump, Jr. 'The floor of the New York Stock Exchange is probably a little bit of a higher testosterone environment than perhaps the rest of New York City, so I imagine that makes it more right leaning. But you see all the support. You didn't see anything negative.'
The Guardian
17-04-2025
- Health
- The Guardian
Black maternal health is about more than survival – it's about thriving
Maternal deaths have recently dropped in the US – that is, unless you're Black. Black women continue to face the highest rates of maternal mortality in our country. To be Black, pregnant and hopeful in the US is to hold on to life with a fierce and unyielding grip against devastating odds. Black women are navigating pregnancies in a healthcare system that too often ignores our pain, dismisses our concerns, fails to value our lives and underserves us throughout the entire journey to motherhood. As we mark Black maternal health week, the path to becoming a mom remains fraught with pain points for Black women. For too many Black women, the journey to motherhood may start with dismissive doctors and racially motivated mistreatment: a soon-to-be mother's voice is silenced in the very spaces meant to protect her health. The experience of giving birth is compounded by systemic inequities that compromise her safety and dignity. Stillbirth and miscarriage rates remain disproportionately high due to inadequate prenatal support, while unequal pain treatment leaves Black mothers suffering in silence – ignored or under-treated. A heightened tendency for unnecessary C-sections reflects deep-rooted biases in medical decision-making, exacerbated by implicit racial bias. When the baby is born, the postpartum period is often marked by systemic gaps in care that leave Black women vulnerable to physical, emotional and financial strain. Limited access to postpartum mental health support means many struggle with anxiety and depression without adequate professional guidance, worsening the already heightened maternal mortality rates among Black women. The absence of comprehensive postpartum resources leaves Black mothers navigating recovery, newborn care and maternal health largely on their own, reinforcing a cycle of isolation and inequity. It takes a village to raise a child – and to protect an expecting mother. So while we've heard many grim stories through our research at the health advocacy organization United States of Care, we've also heard stories of communities banding together to meet the needs of Black women and mothers. Across the country, community-based maternal health organizations are building capacity and cultural responsiveness in maternal healthcare that offers what I like to call 'bright spots'. These bright spots are not just exceptions, but blueprints for the rest of the country. An expecting mother may turn to culturally aligned healthcare providers who offer specialized care, fostering a deep sense of trust, support and security for both her and her baby. Doulas can improve her experience by providing personalized care that is tailored to her and guides her through the pregnancy journey. Additionally, telehealth like the Maven Clinic and Pomelo Care can promote racially concordant care, provide access to interdisciplinary care teams, and bridge access to care gaps. And tech innovations the Irth app, a 'Yelp-like' app that offers provider reviews from Black and brown women, can empower her to make informed decisions about her care. When the baby arrives, she may reach out to organizations focused on addressing maternal mental health, like the Houston-based Shades of Blue Project, which offers structured journaling support groups for Black women and aims to decrease the stigma related to seeking mental health treatment. She may seek a doula or lactation consultant that supports her with her breastfeeding challenges or access local programs like Breastfeeding Awareness and Empowerment Café, a Philadelphia-based community lactation and perinatal mental health support program that is replicable, scalable, peer-driven and low-barrier intervention that has the potential to improve outcomes. In countless neighborhoods across the US, community organizations on and offline are creating lifelines for Black women where our healthcare system falls short. These local efforts provide a national model of cultural responsiveness, holistic care and trust building that we hope to see innovators, policymakers and leaders across the country adopt. As we recognize these local initiatives, it's important to consider what sustains them: strong community ties, committed leadership and diverse funding streams. Maternal health solutions must happen both at the bedside and in the halls of power: more policymakers, philanthropists and healthcare institutions must step forward to invest in these models, scaling them while preserving their community-driven success. Black maternal health is about more than survival; it's about thriving. It's about empowering Black mothers to experience joy in their pregnancies, to be supported from preconception all the way through postpartum, and to raise their families in a world that values their lives. Let these bright spots serve as both inspiration and a guide. It's time for Black women to be listened to, cared for and treated with the dignity we've always deserved. We can build a future where the health and wellbeing of Black mothers is no longer an anomaly but a standard. Venice Haynes is a social and behavioral scientist with more than 17 years of public health experience. She is the senior director of research and community engagement for United States of Care
