Elon Musk is giving “serious thought” about building his own social media platform because Twitter is “failing to adhere to free speech principles.” In a series of tweets, the Tesla CEO asked if the time had come for a new platform to replace Twitter.
Musk’s remarks were in response to a Twitter user’s question on whether he would consider building a new social media platform that consisted of an open-source algorithm, prioritized free speech, and where propaganda is very minimal.
“Am giving serious thought to this,” he admitted.
The remark comes after the billionaire openly explored the idea over the last couple of days. He posted a poll to his Twitter page last Thursday, asking his followers if they believed the Twitter algorithm should be open source, to which an overwhelming majority answered yes.
Musk posted a follow-up poll a day later, commenting that “free speech is essential to a functioning democracy,” and asking his 79 million followers if they thought Twitter adhered to that principle “rigorously.” The billionaire pressed his followers to “vote carefully,” citing “the consequences” of such an important poll.
The result? An overwhelming “no.”
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“Is a new platform needed?” Musk followed up on Saturday. “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?”
Last week, the U.S. Securities and Exchange Commission informed a judge that the billionaire’s tweets involving Tesla will remain a valid subject for government investigation even if a court throws out his 2018 agreement with the SEC.
The CEO is seeking to end oversight by the SEC of his Twitter posts, maintaining that the agreement was being used to “trample” his right to free speech.
The billionaire has long beefed with both the SEC and Twitter. His feud with the SEC is best described as bitter, and he has long accused the organization of having a vendetta against him. Earlier this year, Musk accused the agency of leaking information from a federal investigation in retaliation for his public criticisms.
Of course, there is one last option. Musk, who has a fortune valued at $267 billion, might be able to buy the social media platform outright—it’s currently worth a mere $31 billion.
Source: Reuters, Bloomberg
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