Elon Musk Hints at Creating a New Open-source Social Media Platform
Key Takeaways:
- Elon Musk tweeted to say that he is giving “serious thoughts” to creating a new social media platform.
- Musk said that in a response to a Twitter user’s question on whether he has any plans of developing a social media platform with an open-source algorithm.
- Recently, Musk has been very critical of Twitter’s policies
Elon Musk, Tesla’s Chief Executive Officer in a tweet said that he is giving a “serious thought” to create a social media platform.
Musk tweeted that as a response to a question asked by a user on whether he has any plans of creating a social media platform with an open-source algorithm that would prioritize freedom of speech.
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Musk and freedom of speech
Musk has been critical of Twitter and its policies in recent months. He said that the platform is not impeding democracy by failing to comply with the free speech principles.
Musk tweeted this a day after he created a poll asking users if they believed Twitter adheres to the free speech principles. Around 70% of respondents voted “no”.
He had said that the poll’s results will have huge consequences and people should vote carefully. Musk further added that freedom of speech is important to a functioning democracy.
Musk – in the line of fire since 2018
Musk has been involved in a bunch of controversies on Twitter in the last three to four years.
For example, in August 2018, Musk tweeted that he was considering taking Tesla private. However, a lot of observers were of the opinion that this was just a tactic to shake short-sellers.
Which seemed to be a harmless tweet had pretty serious consequences. It had a strong impact on investors, compelling regulators to fine Tesla for a sum of $20 million, and also attracting a class-action lawsuit.
The tweet in 2018 was followed by a series of events that have continued till February 2022. Last month, new information related to federal oversight was made available to the public.
The tweet claimed that Musk could possibly take Tesla private with the value of the stock sitting at $420 per share. The tweet also said that Musk had the “funding secured” to acquire shares from stakeholders who did not want to continue their allegiances with the company.
This news caused Tesla’s stock price to increase for a short period of time before returning to normal.
It is no secret that Musk has been involved in a chain of events on Twitter that have caused quite a stir. Will Musk create a new social media platform? Would you use it?
Leave your comments below and tell us what you think.
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