Musk’s tweet followed criticism from Twitter where he stated that the platform does not allow free speech.
“Given that Twitter serves as the de facto public square, failure to uphold the principles of free speech fundamentally undermines democracy,” Musk said. tweeted
Friday. “What must be done?”
He then asked if a new platform was needed.
BUT 2018 agreement with Security and Exchange Commission
requires Musk to get prior approval from other Tesla executives before posting tweets about the company.
After Musk asked his Twitter followers in November whether he should sell his 10% stake in Tesla, the electric car company received a subpoena from the Securities and Exchange Commission because the polling question sparked a stock sell-off that the CEO the director called “persecution”. .
Earlier this week, in response to Musk challenging the subpoena, the SEC regulator urged a federal judge to allow further scrutiny of his tweets.
“Musk’s petition for annulment is procedurally defective and essentially unfounded,” the SEC said.
If he continues to launch his own platform, Musk will join a growing list of public figures and tech companies that are ditching existing social media networks and creating their own platforms, often championing “free speech.” Former President Donald Trump, who has been banned from Twitter since January 2021, launched Truth Social in February as part of Trump’s media and technology group.
Rumble, Parler, Gettr and other services have also emerged as alternatives to the mainstream social networks. Parler was removed from the Apple app store amid allegations that rioters on January 6 used the platform to incite violence. It was reinstated in April after the company made improvements to better detect and mitigate hate speech.
— Reuters and CNN’s Brian Fung contributed to this report.