Musk's first step in Web3.0 was Twitter, Web3 exchanges' first step is MEME

Recently, the U.S. Securities and Exchange Commission disclosed that Tesla CEO Elon Musk bought a 9.2% stake in Twitter. The "Influencer" Musk finally joined Twitter's board of directors, and his term will last until 2024. Once the news came out, Twitter's share price jumped 27.12%, the biggest increase since its IPO. Why is the social media platform Twitter so attractive to Musk, and why is there a rumor that Web3.0 might actually be Musk's real goal?
Twitter CEO Agrawal tweeted, "Musk is both a passionate believer in this platform and a fierce critic of it. This is exactly the kind of person Twitter and its board need to make us stronger in the long run. Welcome Elon!"

What is Twitter's cap?
Twitter has been heavily discussed lately and has become a target of attacks by different interest groups. A but over a year ago in February 2021, Twitter's share price has fallen by more than half. Currently, Twitter's market capitalization stands at $40 billion, a large gap between the market capitalization of rival social media giant Meta, for example.
As a result, a lot of analysts are arguing that Musk will try to take a more active role in the operation of Twitter. Some of them even pointed out directly that "for Musk, there would be no such thing as passive ownership, he would obviously do a great job."
Musk's fortune has been growing steadily, and no one seems to be able to stop him. CNN reporter Brian Stelter commented on Musk becoming Twitter's largest outside shareholder: "The richest man on the planet has just bought a huge chunk of one of our most important communications tools. He's also the owner of one of the largest satellite networks in the world. He's very powerful, unbelievable."
Why did Musk join Twitter?
As of now, Musk has more than 80 million followers on Twitter, and he keeps updating almost every day, sometimes dozens of times a day, even more then Trump. He is also known as "one of the most tweeting people on the planet".
But Musk also has had a long-standing beef with Twitter, especially due to the alleged lack of respect for free speech. He can't stand that Twitter arbitrarily decides what tweets can be published. He believes that this power should be returned to the users.
Earlier this year, Musk again criticized Twitter for failing to uphold the principle of free speech and said he was considering a new social media platform.
After the news of Musk's stake in Twitter, one of the most talked about topics in the industry is how much actual control he can have over the company in the future.
But on April 11, news broke that Musk had given up joining the board. In response, the SEC disclosed documents on Monday also pointed out that after Musk gave up joining the Twitter board, but he will express his views to the board or the public at will "through social media or other channels".
After refusing to join the Twitter board, Tesla CEO Elon Musk is no longer restricted from holding more than 14. 9% of the shares and he is able to participate in discussions about the management of Twitter.
Although Musk is rich, he likes to focus on the trajectory of his long term investments.
Especially after 2000, in addition to the Tesla and SpaceX, Musk is heavily invested in the field of artificial intelligence with OpenAI and a few large companies, so it is easy to imagine that he must have greater ambition for Twitter as well.
Musk and Twitter co-founder and former CEO Jack Dorsey have maintained a very close personal relationship, both being Silicon Valley heroes and tech sympathizers.
Not only do they interact frequently on Twitter, but in real life, they often get together to eat, drink and chat, and attend industry forums and expert conferences together.
One of the more profound setbacks was the decline of web 3.0 at the end of last year, with Musk tweeting several times to question it and Jack Dawsey later joining the criticism, saying the emerging phenomenon was more of a "buzzword" than a realistic "reality".
It's also worth noticing that this is one of the aspects of him and Jack Dawsey's highly compatible values. They both share the idea of shifting the power of social networks fundamentally to users, rather than to the industry giants that have always shrouded and influenced freedom.
Later, after tweeting that Web 3.0 is a marketing term at this stage, Musk also said, "But we're very curious to see what the world will look like 10, 20, 30 years from now. In the comments section of the video, Musk replied to a comment "The best way to predict the future is to start building it," Musk said, "Yes".
It is clear that Musk may already be building the future Internet in his mind. Although Musk has repeatedly "criticized" Web 3.0, he has not completely denied the concept, but has criticized the current development of the phenomenon that deviates from the essence of Web 3.0.
With his investment in Twitter, Musk wants to create a more equal and open speech environment.
It's not impossible to move from Twitter to Web 3.0.
Along with Metaverse and NFT, Web 3.0 has been a buzzword in recent discussions about the next generation of the Internet. The core idea is to return production and ownership to the users who participate in the ecology and use the platform, instead of being owned by the Internet platform or the few people who control the Internet platform companies. Like NFT, Web 3.0 is also envisioned and practiced by blockchain technology support, though it is still in its early embryonic stage.
In the concept of Web 3.0, every user is a creator who participates in running the Internet environment in the future, instead of being a tool for generating traffic to earn advertising fees. In the future Web 3.0 community platform, the creator can use the content and influence he has built to get direct income, and even have the right to vote on the development direction of the platform and content regulation themselves.
Web 3.0's most important feature is to facilitate the "elimination of authority" in the Internet, and some go as far as saying that Web 3.0 will be a total victory of the public against the giants.
Musk previously expressed his opposition to the Metaverse. In fact, he is against the VR headset to be used to access to the Metaverse, which is a direct critic to the Metaverse made by Facebook's Meta.
Musk will probably overtake Twitter next, transforming every tweet into a digital asset that can generate corresponding revenue, attracting more traffic in line with the needs of the day.

With his refusal to join Twitter, it's clear that Musk wants to make an effort in creating a more equal and open environment, and perhaps make the first step towards a future world. Perhaps it is Musk who wants to build the Web 3.0.
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