Elon Musk to take on the corporate media

Elon Musk owns about six companies right now. The latest company that the billionaire acquired is the microblogging site Twitter. Musk bought Twitter for $44 billion in October of this year and since then has introduced several difficult changes with the goal of building a profitable business, or as he likes to call it: Twitter 2.0. While Musk is still in the process of rebuilding Twitter, he has expressed his willingness to buy another US-based company and, this time, take over corporate media.

Musk, in his latest responses to a Twitter user, Wall Street Silver, said he is open to the idea of buying Substack, a US-based online platform that provides publishing, payment, analytics and design infrastructure for endorsed subscription newsletters. Founded in 2017, the online platform allows writers to send digital newsletters directly to subscribers.

The idea came to Musk's mind after the Twitter user asked if it would make sense for Twitter to acquire Substake and connect the two platforms more closely. Musk said, "I'm open to the idea". "Twitter plus Substack creates instantly massive competition for obsolete legacy corporate media," the Twitter user posted.

Musk's reaction follows a tepid response from mainstream and corporate media in "Twitter Files," which Musk was revealed by independent journalists. "Why is corporate journalism rushing to defend the state instead of the people?" Musk said in one of his latest tweets. The Twitter boss has also reacted to Leighton Woodhouse's, a freelance reporter and documentary filmmaker, post on Substack that "establishment journalists' response to the Twitter Files is that of a profession committed to protecting the state instead of exposing it".