Elon Musk Says He’s Considering Launching A New Social Media Platform

“Is a new platform needed?”

Elon Musk
Getty Images

Tesla billionaire Elon Musk is musing about creating a new social media platform that would improve upon his beloved Twitter.

The world’s richest man, who recently challenged Vladimir Putin to a physical fight on Twitter on behalf of Ukraine, says he’s now giving “serious thought” to starting a new platform that would place a higher premium on free speech.

“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” Musk tweeted on March 25. “What should be done?”

Musk then asked in a follow-up tweet if a new social media platform is needed.

Musk’s tweets are the latest sign that he’s tiring of SEC oversight of his Twitter feed, reports Bloomberg News.

Musk is seeking to end oversight by the SEC of his Twitter posts, claiming the agreement is being used to “trample” his rights to free speech. He is also asking the court to block a subpoena by the securities regulator for documents relating to the review of his tweets.

Under the SEC settlement agreement, the regulator will distribute funds from the company and Musk to investors who lost money buying Tesla shares after Musk claimed on Twitter he was thinking about taking the company public.

Last week, the U.S. Securities and Exchange Commission told a judge that Musk’s tweets about Tesla will remain a valid subject for government investigation even if a court throws out his 2018 agreement with the SEC.