Musk hints at launching a social networking site, and the domain name is ready: X.com

Tesla CEO Elon Musk hinted on Tuesday (August 11) that he would start his own company if he wasn’t forced to complete a $44 billion deal to buy Twitter. Social platforms.

Asked on Twitter on Tuesday if he would launch his own social networking site, Musk simply replied “X.com.” Earlier, Musk was revealed to have sold $6.9 billion worth of Tesla stock, which may have been in preparation for his forced acquisition of Twitter .

Musk said on Twitter about the sale of Tesla shares: “If Twitter is asking the court to force the deal and some equity partners can’t do it, then it’s critical to avoid an emergency sale of Tesla stock. important.”

This isn’t the first time Musk has hinted at launching a direct competitor to Twitter. Before offering to buy Twitter, Musk told CEO Parag Agrawal that he was considering creating his own social platform .

What’s more, Twitter has cited the idea as a cause for concern in its lawsuit against Musk, saying they believe Musk may be compiling the company’s internal data and trying to replicate its model.

At Tesla’s annual shareholder meeting last week, Musk made comments on the site, which he bought back from PayPal in 2017. He wrote: “I do have a bigger vision, and that is I think X.com might be back to its former glory. It’s a pretty big vision, of course it could start from scratch, but I think Twitter will speed up the process. Three to five years.”

X.com started out as an online bank co-founded by Musk in 1999. The company eventually merged with another payment system, Confinity, to become PayPal, which eBay bought in 2002 for $1.5 billion.

In 2017, Musk bought the domain “X.com” from PayPal, said the site had “tremendous sentimental value” and reopened the site. At the time, he said he had no plans for it. Today, if you visit the site, it just shows a blank page with a little “X” in the corner of the page. The site has remained largely unchanged over the past five years .

If X.com does become some sort of social network or Twitter replacement, Musk could focus on rooting out bots on the site, as well as minimizing censorship. The billionaire has always been a strong critic of bots on Twitter.

Musk may not yet decide whether to build his own social network, as his court battle with Twitter begins in October. Twitter said it hoped the court would compel Musk to acquire the platform in accordance with the agreed-upon agreement. In recent weeks, Twitter has subpoenaed many of Musk’s close business partners and friends.

The case will be heard in Delaware Chancery Court. Twitter appeared to have won its first battle with Musk last month when Judge Kathaleen St. J. McCormick agreed to speed up the trial .

Multiple experts have previously said that Musk faces an uphill battle as he tries to get out of the deal due to the acquisition contract he signed earlier this year.

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