Please Read Our Disclaimer

Elon Musk May Create His Social Networking Platform

To gauge interest in a novel social media network, the billionaire tweeted to his 79.2M followers. Musk has claimed that he’s strongly contemplating building one in answer to a Twitter follower who inquired when he will construct one.

Elon Musk Reason Behind Possibly Creating a Social Media Platform

Elon Musk is pondering the establishment of his own social media site because of the SEC’s critique of him on Twitter. He claims that Twitter’s failure to uphold freedom of speech significantly affects the democratic process.

Before that, Elon Musk polled Twitter accounts the previous week to see if they thought the social networking site intensively complies with freedom of speech ideals. According to the poll, 70 percent of users (almost 2M votes) believe Twitter doesn’t completely adhere to freedom of speech ideals.

In addition, the tycoon questioned his 79.2M Twitter followers if they thought another social networking site was necessary. Musk has mentioned that he’s strongly contemplating it in reply to a follower’s question about when he’ll be building one.

Elon Musk has strongly advocated for freedom of expression, referring to himself as freedom of speech absolute monarchy. He started utilizing his Twitter account recently to address cryptocurrency-related things and the Ukraine conflict. When the attacks hit Ukraine’s broadband network, he deployed Starlink satellites to ensure the country would remain online if it were destroyed. 

The network provider had addressed him about blocking Russian news sites. It was reported that several nations requested Musk to stop Russian media from using SpaceX’s broadband network, but Musk replied he wouldn’t do it except at gunpoint.

The Social Media Saga of Elon Musk and the Securities and Exchange Commission

After the United States SEC opened an investigation into Elon Musk and his brother Kimbal Musk’s stock trades in February, Elon Musk found himself in hot water. Elon Musk tweeted in 2018 that he had acquired enough funding for a significant prospective investor of Tesla stock at $420 each share. The price, nevertheless, fluctuated during the month, and there wasn’t any evidence of the financial transaction stated by the CEO. Owing to that, Musk was accused by the Securities and Exchange Commission of issuing inaccurate and defamatory representations. Additionally, the tycoon had to pay $20M in penalties and resign as Tesla’s chairman for at least 3 years. Musk was also required by the SEC to obtain pre-approval for his Twitter posts.

We previously reported that Tesla CEO Elon Musk attempted to drop a subpoena requiring him to hand over his Tweet approvals.  The Securities and Exchange Commission, on the other hand, believes that a contract is a contract and that Musk’s Tweets must be watched.

Leave a Comment