May 23, 2022

Elon Musk tweeted this weekend that he “think seriouslyTo build your own social media platform.

“Because Twitter serves as the de facto public square, failure to uphold the principles of free speech undermines democracy,” said the billionaire serial entrepreneur, CEO of Tesla and SpaceX. tweetedI asked: “What to do?”

If your blood pressure has gone up after reading these tweets, you are not alone. But let’s take a deep breath. We probably won’t see an app called DogeSocialX anytime soon.

Musk has a history of tweeting absurd memes, thoughts and even physical information about Tesla on live television, with more than a raised eyebrow being reacted by US regulators. However, Musk doesn’t have a very good track record when it comes to implementing his crazy ideas on Twitter.

This isn’t the first time Musk has publicly fantasized about his dreams of being the next Jack Dorsey (although he might be close to Tsuk?).

After Musk was criticized by journalists for his questionable management choices at Tesla in 2018, took an oath Launch a website called “Pravda” (Russian word for “pravda”), which is also the name of a historical Russian communist newspaper. Musk’s website will allow the public to judge journalists, editors, and the media based on their “ground truths” and “credibility scores.” Fortunately, that idea didn’t materialize, but as all journalists know, Twitter already works very well as a means of letting people know when they disagree with you.

When Musk’s Twitter-based ideas move forward, they traditionally fall far behind to become the next Space X.

Also in 2018 — a pivotal year for his antics — Musk announced his “new” space media empire‘, Tad’s comedy troupe (interrupted by an optional exclamation mark). After Elon Musk was hired to host SNL last year, I got to work in science fiction: I connected with all thirteen former Thud employees, Musk forgot, in comedy media.

Nobody wanted to talk to me on the record. Managed by the former editors of The Onion, Thud failed and then became the talk of a resume (former Theranos staff can tell you that). No wonder these writers and designers didn’t want to go back to Thud, who now calls the minimalist website “short-lived” and “appropriately”.

Musk initially sent Thud $2 million, but abruptly left the company, leaving the editors with no plans to monetize the project.

“A quick transition from a billionaire-backed project to an independent media company… you know,” editor Cole Bolton told The Verge at the time.

Given his history of making outlandish claims online for fun, there’s no need to panic about Musk’s sudden interest in building a social media empire (it’s not even intergalactic!) even if there’s a big name behind the new platform. But there is no guarantee that it will be successful. Donald Trump’s new app, Truth Social, may look like it’s poised to become a mainstream 4chan, but even weeks after its launch, there are still 976,985 people on the waiting list. And once you’ve been hired, the party won’t be too exciting (unless you’re “hot girls playing golfI

Even if Musk has developed his own social media platform, he may not have as much reach on Twitter as he does on Twitter. He has 79.4 million followers, placing him in the site’s top ten most followed users, behind only figures like Barack Obama and Justin Bieber. But unlike Taylor Swift and Katy Perry, Musk uses his followers to joke about Hitler and… Compare Parag Agarwal, new Twitter CEO Josef Stalin. Notably, since Musk complains that he is not allowed to speak freely, these dirty tweets have not been removed by the platform; He himself deleted his meme with Hitler, and the excavations of Agarwal continue.

It’s not a matter of free speech; It’s just Musk’s opposition to any regulation. It’s doubtful that Musk’s roughly 80 million followers will switch to his theoretical new platform, but even if they do, the SEC could still hold Musk accountable for any insider information he shares.

Musk’s most powerful tool has always been Twitter, and like Trump, he stands to gain nothing by trying to create a new company that the SEC will still keep an eye on.

This does not mean that we should not worry about the danger posed by arrogant people in power who are rich enough to make their feverish dreams come true.

After all, Musk seems to be a little more business savvy than Trump. But sometimes Musk’s Twitter outbursts create nothing more than polarizing, tense dialogue, and we tend to forget that while Musk’s tweets can move markets, sometimes they just fall apart on impact.

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