Elon Musk slams Twitter, says he's giving 'serious thought' to creating his own social media platform

• Elon Musk said he is seriously considering building his own social media platform.
• The revelation came after Musk said Twitter had failed to "adhere to free speech principles."

Tesla and SpaceX CEO Elon Musk said on the weekend that he is giving "serious thought" to building his own social media platform.

Musk's comment followed a series of tweets in which he criticized Twitter over its practices concerning free speech.

"Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?" Musk tweeted via a Twitter poll on Thursday.

He then followed up with a series of tweets on Friday, writing: "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?"

A Twitter user with the ID "PPathole" at one point tweeted a suggestion at Musk, asking if the CEO would consider "building a new social media platform" that would consist of "an open-source algorithm."

The user suggested that this platform should be one "where free speech and adhering to free speech is given top priority" and where "propaganda is very minimal."

In response to the suggestion, Musk replied on Saturday: "Am giving serious thought to this."

Earlier this month, the Securities and Exchange Commission said it would not let Musk out of a 2018 agreement that requires his use of Twitter to be overseen by Tesla lawyers. Musk has objected to the subpoena, claiming that it inhibits his freedom of speech.

Should Musk go forward with building a social media platform, he will join several other high-profile individuals who have moved into the space to champion free speech.

Former President Donald Trump launched his platform, Truth Social, in February. Earlier this month, MyPillow CEO Mike Lindell launched Frank Speech, his version of YouTube, and told Insider that he is planning to release a second app, Frank Social, which he claims is an alternative to Facebook.

Both Truth Social and Frank Social have joined an already crowded field of apps, including Gab and Gettr, which have attracted many right-wing and conservative users.