Elon Musk announces he is creating a new social media platform

In a tweet on Saturday, Elon Musk stated that he is “serious thought” developing a new social media site.

Musk’s remark comes after he criticised Twitter, claiming that the network does not allow for free speech.

Musk wrote on Friday, “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?”

He then inquired as to whether a new platform was required.

Musk must get pre-approval from other Tesla executives before tweeting about the firm, according to a 2018 agreement with the Securities and Exchange Commission.

The SEC sent a subpoena to Tesla after Musk asked his Twitter followers in November if he should sell a 10% share in the electric vehicle business. The poll question caused a stock selloff, which Musk has described as “harassment.”

An SEC regulator urged a federal judge to let the investigation into Musk’s comments to continue earlier this week, in response to Musk’s challenge to the subpoena.

The SEC stated, “Musk’s motion to quash is procedurally defective and substantively meritless.”

Musk would join a growing list of famous individuals and technological corporations who are abandoning current social media networks in favour of developing their own, typically in the name of “free speech,” if he goes ahead with his plans to launch his own platform. Former President Donald Trump, who has been banned from Twitter since January 2021, launched Truth Social as part of the Trump Media and Technology Group in February.

Alternatives to conventional social networks have emerged in the form of Rumble, Parler, Gettr, and other services. Following reports that rioters used Parler to instigate violence on January 6, the app was withdrawn from Apple’s app store. It was reinstated in April after the firm improved its ability to detect and regulate hate speech.