Will Elon Musk create his own social media platform?
Elon Musk, the CEO of Tesla Inc, said in a tweet on Saturday that he is “seriously considering” developing a new social networking platform. Musk was replying to a Twitter user’s inquiry on if he would consider creating a social media network based on an open-source algorithm that prioritized free speech and had less propaganda.
“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” Musk tweeted Friday. “What should be done?”
He then asked if a new platform is needed.
A 2018 agreement with the Securities and Exchange Commission requires that Musk gain pre-approval from other Tesla executives prior to posting tweets about the company. After Musk asked his Twitter followers in November if he should sell 10% of his stake in Tesla, the electric vehicle company received a subpoena from the SEC because the poll question triggered a stock selloff — which the CEO has called “harassment.”.
“The results of this survey will have far-reaching implications. Please vote with caution “On Friday, he stated.
If Musk decides to create a new platform, he will be joining a growing list of tech companies that are positioning themselves as champions of free speech in the hopes of attracting users who feel their voices are being silenced on platforms like Twitter, Meta Platform’s Facebook, and Alphabet’s YouTube.
Rumble, Parler, Gettr and other services have also formed as alternatives to mainstream social networks. Parler was removed from Apple’s app store amid allegations that January 6 rioters used the platform to incite violence. It was reinstated in April after improvements were made by the company to better detect and moderate hate speech.