Elon Musk laid out his idea for a new blockchain-based social media platform to...
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Elon Musk laid out his idea for a new blockchain-based social media platform to his brother Kimbal in private texts: 'This could be massive'
Elon Musk told his brother he wanted to build a blockchain-based social media platform, texts reveal.
Twitter expressed concern in the past that Musk could use its internal data to build a competitor.
The texts were made public in the discovery process during Musk's court battle with Twitter.
Elon Musk shared an idea for a potential Twitter competitor with his brother Kimbal Musk ahead of offering to purchase the company, according to a series of private texts that were released amid Musk's court battle with Twitter.
"I think a new social media company is needed that is based on a blockchain and includes payments," Musk texted Kimbal Musk on April 10, the same day he announced he would no longer be joining Twitter's board of directors.
The billionaire had outlined his idea for the social media company the day before.
"I have an idea for a blockchain social media system that does both payments and short text messages/links like Twitter," Musk texted Kimbal Musk on April 9. "You have to pay a tiny amount to register your message on the chain, which will cut out the vest majority of spam and bots. There is no throat to choke, so free speech is guaranteed."
Musk said the site would have a "massive real-time database" that would keep permanent copies of messages and followers and a "Twitter-like app on your phone" that can access the database in the cloud.
"This could be massive," Musk texted his younger brother.
A few days after sending the messages, Musk offered to buy Twitter for $44 billion.
Kimbal Musk appeared to support the idea, telling his brother it could be a social media company that cuts back on ads by allowing users to "pay for use" and could allow users to vote off scam accounts.
"I'd love to learn more," Kimbal Musk responded at the time. "I've dug deep on Web3 (not crypto as much) and the voting powers are amazing and verified. Lots you could do here for this as well."
"It drives me crazy when I see people promoting the scam that you're giving away Bitcoin," Kimbal Musk wrote. "Lots of bad people out there."
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