Elon Musk giving "serious thought" to building social media platform

Elon Musk is giving "serious thought" to developing a new social media platform, the Telsa billionaire has confirmed.

Musk, who is a prolific but often critical user of Twitter, posted that free speech was "essential to a functioning democracy" and asked his followers: "Do you believe Twitter rigorously adheres to this principle?"

He asked them to vote either yes or no, adding: "The consequences of this poll will be important. Please vote carefully." Over 70% of respondents voted "no".

Musk had also previously tweeted: "Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy." He asked what should be done, and if a new platform was needed.

He was then asked by a follower if he was considering building a new social media platform himself, where free speech would be the "top priority" and propaganda was "very minimal".

Musk replied: "Am giving serious thought to this." He did not share any further detail or specifics.

Musk has fallen foul of Twitter in the past, and under a 2018 agreement with the US Securities and Exchange Commission, any material tweets he makes about Tesla must be vetted by a lawyer.

Last year, he wiped billions off Tesla’s share price when he asked if he should sell 10% of his holdings in the electric car maker. The SEC subpoenaed him over the tweet, on concerns that it had broken the agreement.

In response, Musk has accused the SEC of trying to "chill" his free speech.