The billionaire multiplies the criticism against the social network Twitter so far his favorite communication channel.
Elon Musk seems to want to follow in Donald Trump’s footsteps. Like the former Republican President, the richest man in the world is one of the most followed personalities on the social network Twitter (TWTR) – Get Twitter, Inc. Report.
Musk gives his opinions there, announces information, such as updates, related to his companies (Tesla (TSLA) – Get Tesla Inc Report, SpaceX, The Boring Company). He fights his battles against his critics on the platform, responds to his opponents, challenges his detractors.
On Twitter, the billionaire even goes so far as to seek financial advice from the general public on whether or not to sell part of his shares in Tesla, for example.
“Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,” Musk wrote in November 6, 2021.
“Do you support this?” he asked Twitter users and launched a poll about selling 10% of his stake in Tesla.
“I will abide by the results of this poll, whichever way it goes,” he added.
Part of Musk’s Master Plan?
Musk’s shares in Tesla constitute the majority of his immense personal fortune which is estimated at $256 billion as of March 26, according to Bloomberg Billionaires Index. A few days after the poll result favored the sale of his 10% stake in Tesla, Musk began to sell shares as he had promised. The result of the poll caused Tesla shares to drop. The Securities and Exchange Commission (SEC) issued subpoenas to Musk and Tesla a few days later, the company and Musk revealed recently.
In short, Twitter is the tech tycoon’s communication link with the world. He regularly exchanges with the fans. Besides, Musk has more than 79 million followers, more than most stars and athletes. This shows the importance of the platform for its communication because its companies, and in this case the manufacturer of electric vehicles Tesla, does not spend a penny on marketing or advertising.
But Twitter also gains a lot from having Musk on the platform. The businessman has a personality that goes beyond the circles of Silicon Valley and the automotive industry. He is a mega influencer.
But the two seem to be heading now for a divorce. Musk is thinking about launching a new platform, a kind of new social network.
“Would you consider building a new social media platform, @elonmusk?” a Twitter user asked Musk on Saturday. “One that would consist an open-source algorithm, one where free speech and adhering to free speech is given top priority, one where propaganda is very minimal. I think that kind of a platform is needed.”
Musk did not beat around the bush and answered clearly and without detour.
“Am giving serious thought to this,” Musk wrote back, without further details.
It is interesting to note that this information comes as Musk is working on volume 3 of his famous ‘Tesla Motors Master Plan’ intended to save the planet from dying from pollution and to revolutionize different industries. Will the launch of a new social network be part of it?
Will Musk Succeed Where Trump Is Not Having a Big Win?
Musk’s take on launching a new social platform is the conclusion of two days of thoughts on Twitter’s role in free speech.
It all started on March 25 with this tweet: “Free speech is essential to a functioning democracy.Do you believe Twitter rigorously adheres to this principle?” the business man wrote.
The question was accompanied by a poll answered by more than 2 million Twitter users. Just over 70% responded that Twitter did not fully comply with the First Amendment.
And Musk has also warned that: “The consequences of this poll will be important. Please vote carefully.” And as we saw with the poll on the sale of his 10% stake in Tesla, Musk usually delivers on his promises.
The next day, Musk took another step in his vendetta against Twitter. He felt that Twitter had become “the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.”
And posed a much more interesting new question to Twitter users that has the potential to change the social media landscape.
“Is a new platform needed?” Musk asked.
Musk’s desire with Twitter recalls President Donald Trump’s attempt to launch his own social network after he was permanently banned from Twitter after the November 2020 election. This new social network competitor to Twitter, Truth Social, was launched recently to much fanfare.
So far, it hasn’t met with the same success as Twitter. Besides, Trump is not as active there as he was on Twitter.
But unlike Trump, Musk is tech-savvy. He is behind success stories like PayPal (PYPL) – Get PayPal Holdings, Inc. Report, where he served as a cofounder.
