What Does Elon Musk Have in Mind for Twitter?
Musk has made no secret of his intention to overhaul the social media platform, aligning it with his own vision. The outspoken critic of current online moderation practices has identified himself as a “free speech absolutist,” suggesting a reduction in content moderation. Musk has also polled Twitter users about potential improvements, such as adding an edit button.
He views Twitter as a virtual “town square,” where true freedom of speech should be protected. However, his plans have raised concerns among Twitter moderators, who fear their roles may be at risk. Reports from October 20 indicated Musk intends to drastically reduce Twitter’s workforce, potentially cutting up to 75% of the 7,500 employees, retaining only about 2,000 workers.
Elon Musk’s Affinity for Dogecoin
Elon Musk has long been a strong supporter of Dogecoin, lauding its potential as a viable currency, as recently as May. He even considered integrating Dogecoin into Twitter’s ecosystem at one point. This idea became public during his early discussions around his ongoing acquisition of the platform.
In a September message, Musk mentioned his vision for a blockchain-based social media platform that would handle payments and short posts like Twitter. He proposed that users would pay a small fee to post on the blockchain, reducing spam and bots in the process.
Previously, Musk had explored another idea discussed with Steve Davis, president of The Boring Company. His “Plan B” involved a blockchain-based version of Twitter, where “tweets” would be treated as transactions. Each comment or repost might require a payment of 0.1 Doge, Musk explained. While this concept was eventually abandoned, it is possible that Musk may integrate similar features into Twitter, now that he owns it.
Although this idea was sidelined, Musk may still find ways to incorporate his favorite cryptocurrency into Twitter, potentially through premium features or tipping systems. However, there is no indication that any such plan is being actively pursued at the moment.
The Complicated Relationship Between Cryptocurrency and Social Media
Cryptocurrency has not always had a friendly relationship with social media platforms. In 2019, Facebook banned crypto ads, and YouTube has often suspended or restricted influencers, such as Anthony Pompliano, citing “harmful” content. Recently, both platforms have softened their stance, but these past challenges illustrate the hurdles that crypto has faced in the digital space.
Dogecoin supporters may feel optimistic about Musk’s leadership of Twitter, especially with his positive stance on cryptocurrency. However, whether this enthusiasm translates into real-world changes remains to be seen.
