The MAGA Marketplace

Donald Trump’s return to the White House has turbocharged conservative capitalism. Once a slogan, MAGA has become a business model. Its backers hope to boycott liberal-leaning firms and build new giants in their place.

Mammoth Nation is the most flamboyant entry in the conservative consumer space. This anti-woke retail platform presents itself as an alternative to Amazon. The site is decked in Republican red and white, with a mammoth logo that evokes the GOP’s elephant. An eagle greets visitors on the homepage, accompanied by the slogan ‘Join the fight to save America.‘ Underneath it are inscribed the values of the company: ‘Shop Smart, Shop Patriotic, Support American-Owned Brands.‘

Shoppers can browse everything from American flags to patriotic lipstick, courtesy of American Woman Beauty (AWB). The latter brand describes itself as ‘Cosmetics Created for the Fearless, Free-Thinking Woman.‘ On the brand page, a long message encourages consumers to buy the product to ‘change the beauty industry paradigm…filled with vanity and cancel culture.‘ Finally, there is, of course, a Trump Store.

The founders remain obscure, with few public disclosures beyond its Wisconsin origin. The only figure representing the firm is its so-called spokesperson, Drew Berquist, CEO of Red Beach Media and host of the podcast ‘This Is My Show with Drew Berquist.‘ The content of his videos shows a clear support for Donald Trump. Mammoth Nation possesses a dedicated page to news which hosts the entire content of Drew Berquist’s videos.

PublicSquare Ambitions

While Mammoth Nation sounds like a typical hype phenomenon, PublicSquare appears more ambitious, though investors remain cautious. Founded in 2021 by the Republican businessman Michael Seifert, headquartered in West Palm Beach, Florida, this online shopping platform aims at becoming an 'America First' alternative to Amazon. The platform displays clear values: ‘life, family, and liberty,‘ and offers consumers the ability to ‘shop their values and put purpose in their purchases.‘

Mr Seifert, a devout Christian, is outspoken on pro-life issues and is a well-connected figure in the MAGA sphere. In 2023, Omeed Malik, Nick Ayers, and Blake Masters, all Republican sympathisers or members, entered the board of directors and were joined by Donald Trump Jr. a year later.

While Mammoth’s financing and results are difficult to find, PublicSquare sounds like a more serious project but doesn’t attract investors in a decisive way—yet. While its share price peaked at $7.63 in December 2024, following President Trump’s election, it is now at one of its lowest share prices ever, $2.53.

PublicSquare's Share Price is Down by 68% since December 2024.

The company reported a 95% year-over-year increase in net revenue in the first quarter of 2025, reaching $6.7 million, compared to $3.5 million in Q1 of 2024. PublicSquare also reported lower costs in sales and marketing expenses. Its success can only be tested in the long term, however. But the aim of Republican investors remains to change American society through the economy, though it may take time.

The bet is especially ambitious, as they would need a clientele ready to change their habits of purchasing on Amazon. Neither President Trump, nor his MAGA brand will last forever. However, Republican investors are faithful to the vision outlined by the Heritage Foundation: changing the United States’ political and ideological landscape over several generations.

A Bunch of New Media

More potent than retail, though, is the MAGA media machine—particularly the social networks that helped deliver Trump’s 2024 victory. Beyond Elon Musk’s X, a whole bunch of new media have appeared, including the video platform Rumble, founded by Chris Pavlovski in 2013. The investor, a close acquaintance to President Trump and Elon Musk, aimed at founding an alternative platform to YouTube. During the Covid pandemic in 2020, the platform’s audience surged from 1.6 million viewers to 31.9 million a year later. That same year, Pavlovski received investment from Peter Thiel, Vivek Ramaswamy, and JD Vance.

Rumble shelters influencers ousted or demonetised by YouTube. These include the British comedian Russell Brand, who found refuge on Rumble after facing sexual misconduct allegations that led to his demonetisation on Youtube. Influencer Andrew Tate, banned from YouTube in 2022, also runs his shows on the platform. Other figures include Steve Bannon and Donald Trump Jr.

In a similar way to PublicSquare, Rumble saw a sharp rise in its share price in December 2024 to $16.24. It has since settled around $9-10, though volatility persists.

Chart 2: Rumble’s Average Share Price shrunk by 42% since December 2024

Rumble’s Average Price Share shrunk by 42% since December 2024.

As long as President Trump and his administration remain popular, these alternative platforms have nice days ahead. However, their challenge is to prove they can survive beyond the MAGA era and create a long-lasting dynamic that could change American society decisively.

Statement

Trumpism is no longer just about agency cuts or raucous rallies. A much larger economic revolution is also on its way. In the past decade, Republican investors from the president’s entourage started investing in alternative retail and media platforms to outcompete the corporate giants by offering a conservative alternative. The retail platform PublicSquare and the streaming platform Rumble are two concrete examples.Yet translating political momentum into lasting consumer behaviour may prove more elusive than electoral success.However, the right is hopeful it can win its bet to transform society through business and culture, as the left did in the last century.

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