Elon Musk Planning to Launch a New Social Media Platform

Chief Executive Officer of Tesla and SpaceX, Elon Musk on Twitter announced that he is seriously thinking to create a new social media platform. Earlier, Elon Musk Criticised the microblogging platform where he said that it doesn't allow free speech. On Friday, Musk tweeted: "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?" According to an agreement with the Securities and Exchange Commission signed in the year 2018, Musk needs pre-approval from other Tesla executives before posting tweets about the company on the social media platform. The electric vehicle manufacturer, Tesla,  received a subpoena from the SEC after he asked his Twitter followers in November if he should sell a 10% of his stake in the company. This eventually resulted in a massive stock sell-off of the Company. Musk termed SEC actions as "harassment." About a week before,  an SEC regulator requested a federal judge to allow Musk's tweets to continue to be scrutinized.