Elon Musk may release a new social media platform!
The billionaire entrepreneur and business mogul recently revealed that he might join the social media industry by creating a platform that will do better than Twitter.
This shocking news came via a tweet on Sunday, March 27, not long after the Tesla Inc. CEO expressed his displeasure with platforms restricting users’ free speech.
Elon Musk Slams Twitter For Not Adhering To The Principles Of Free Speech
Musk, an avid tweeter, seemed to be dissatisfied with the platform’s services as his desire to create a new form of social media came not long after he criticized the app.
On Friday, March 25, the technological genius sparked a debate on Twitter, where he asked fans to vote if the platform followed the principle of free speech.
The business magnate wrote, “Free speech is essential to a functioning democracy,” and 70.4% of Twitter users agreed that the platform did not respect this standard.
The surprising result of this poll led to a second tweet on Saturday, March 26, where the SpaceX founder asked fans for a way forward. The 50-year-old wrote:
“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?”
The father-of-eight also asked if the world needed a new social media. This question received several positive responses from Twitter users; however, one comment caught the entrepreneur’s eye.
An individual identified as Pranay Pathole with the Twitter ID “@PPathole,” inquired if the Tesla CEO would consider creating a new platform based on “an open-source algorithm.”
Am giving serious thought to this
— Elon Musk (@elonmusk) March 27, 2022
The social media user explained that this format should allow “free speech and make free speech the top priority” while reducing propaganda.
In response to this intriguing suggestion, Musk shared the possibility of making the fan’s idea a reality. The Boring Company founder tweeted, “Am giving serious thought to this.”
This simple sentence sent the billionaire’s admirers into a joyous state as they flooded the comment section with their anticipation for the app despite not knowing the name, format, or design of the hypothetical platform.
The Global Green award winner’s desire to create a new social media platform may have spawned from the restrictions placed on his Twitter account.
As reported by CNN, a 2018 agreement with the US Securities and Exchange Commission (SEC) ensured that the 50-year-old could not tweet about Tesla without gaining approval from the company’s executives.
The Neuralink co-founder received a subpoena from the SEC after the South African native asked Twitter users if he should sell 10% of his Tesla stocks.
According to the SEC, this poll question caused a stock selloff, backing their claim that Musk’s tweets needed to be monitored. However, the Edison Achievement Award winner had no plans on tolerating further “harassment.”
In response to the father-of-eight challenging the subpoena, an SEC regulator implored a federal judge to allow the CEO’s tweets to be regulated. The individual said, “Musk’s motion to quash is procedurally defective and substantively meritless.”
If the billionaire cannot stop the restrictions on his account and ends up creating a new social media app, the OpenAI co-founder would join the list of A-list figures launching their own platforms.
This list included Former President Donald Trump, who founded Truth Social as part of the Trump Media and Technology Group after being banned from Twitter in January 2021.
Forbes’ Richest Man In The World Stepped Down From Endeavor’s Board Of Directors
The Blast previously shared that Musk would no longer serve as a member of Endeavor Group Holdings’ board of directors.
The SpaceX founder held the position from March 2021, and he would officially step down on June 30, 2022. Although many were surprised by the news, the board revealed that the CEO’s resignation was not personal.
The group claimed that the 50-year-old’s decision to leave “was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.”
As for why the tech mogul decided to resign, sources stated that the billionaire was leaving Endeavor to focus on other projects.
Regardless of his reason, the company thanked the father-of-eight for his contributions to their “long-term strategy and vision for the future of sports and entertainment.”