Joshua Hong
Joshua Hong is a News Fellow at Fortune covering data, AI, cybersecurity, energy, and retail. His reporting links technology, markets, and public policy, using data-heavy stories to show how new platforms, products, and spending decisions reshape economic incentives and regulatory risk. He focuses on large, concrete numbers - subscription prices, capital expenditure, settlements, and national debt - to make the real-world stakes of technology and financial decisions clear.
Trump Media’s data product and insider trading risk
Hong’s most distinctive recent work is a continuing examination of Trump Media & Technology Group’s Truth API, a premium data feed that sells Wall Street earlier access to Truth Social posts for up to six figures a month. In his first story on the product, he explains how the service gives trading firms posts milliseconds before the general public, calculates potential recurring revenue from early subscribers, and centers expert criticism that labels the arrangement “insider trading by definition.”
A follow-up reports that nearly a dozen firms are already paying between $60,000 and $100,000 per month, and details how the pricing structure could drive millions in annual revenue and allow Trump to profit directly from data generated by his own official statements. He then extends the coverage to legal and democratic implications, reporting on more than 50 former federal prosecutors and law-enforcement officials who ask a federal judge to block the plan as corrosive to democracy and potentially in violation of securities and criminal laws.
Across these pieces he blends precise subscriber counts, price ranges, and projected revenues with legal analysis and expert commentary, treating Truth API as a case study in how political power, data licensing, and financial markets intersect.
Insider trading, prediction markets, and platform governance
Hong carries the theme of information advantage and market fairness into other corners of the data economy. In his coverage of prediction-market platform Kalshi, he examines how the company moves to crack down on insider trading risks at the same time the Trump family looks to increase its presence in markets where users bet on political and economic outcomes.
The piece connects platform policies, enforcement actions, and the potential for insider information to distort market behavior, positioning prediction markets within a broader regulatory conversation. Taken together with his Truth API coverage, his work repeatedly asks who gets privileged access to market-moving data, under what rules, and with what safeguards for democracy and retail investors.
Insider trading, platform governance, and the monetization of political information emerge as recurring through-lines in his technology reporting.
Big Tech’s scale: spending, settlements, and infrastructure
Another strand of Hong’s work focuses on the sheer scale of Big Tech’s spending and legal liabilities. In one story, he reports that Meta plans to spend $145 billion in a single year and compares that figure against national military budgets to underline how technology infrastructure investment rivals or exceeds traditional defense spending.
In a separate piece, he breaks down Meta’s $17.1 billion settlement, noting that it is 12 times larger than the second-biggest Big Tech settlement and exploring what that gap signals about regulatory enforcement and corporate risk.
These articles rely on clear numerical comparisons, historical baselines, and sector-by-sector contrasts to show how decisions by a single technology company can have systemic implications far beyond software and social media. His treatment of Meta fits his broader pattern: use large, verified figures and straightforward comparisons to frame the power and consequences of dominant technology platforms.
Data, money, and everyday life
Hong applies the same quantitative lens to stories that connect macro-level trends and policy to household finances and daily experience. In his coverage of the $40 trillion national debt and Baby Boomers’ Social Security benefits, he sets national debt figures alongside benefit levels to illustrate how fiscal pressures and demographic change shape retirement income. A piece on the affordability crisis reports that 37% of parents with young children expect financial support from their own parents or grandparents over the next year, using survey data to show how intergenerational transfers are becoming a critical part of family budgets.
He has written about the economic stakes of LeBron James’s next team decision as a $500 million-plus sweepstakes among five cities, detailing how franchise choice could boost local economies and municipal fortunes. In a story on plastic food packaging, he explores how materials and chemicals such as PFAS can carry cancer risks, combining scientific findings with consumer and regulatory angles to show how unseen technology and chemistry decisions affect public health. Another report on the resurgence of Somali pirates and the limits on U.S. Navy resources approaches security and trade through data on attacks and deployments, showing his range into global risk while retaining a focus on concrete events and their economic impact.
Background and reporting approach
Hong’s author bio notes that before joining Fortune he worked as a freelance data journalist and served on Newsday’s design desk, bringing experience in both quantitative reporting and visual presentation into the newsroom. That background aligns with the way his work foregrounds numbers, structured comparisons, and expert analysis across topics ranging from insider trading and prediction markets to consumer finance and global security. He consistently keeps opinion in the background, relying instead on clearly sourced figures, legal filings, and survey data to carry the argument in his stories.
The result is coverage that treats technology not as gadgets or personalities but as infrastructure, economic power, and risk - mapped in detail through the data that underpins each beat he touches.
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