Twitter was allegedly "absurdly overstaffed" and operated like a "glorified activist organization" prior to Elon Musk's takeover, according to Musk.

After years of investing in the business, he assumed the role of CEO in 2021.

Musk stated that his main goals are to enhance the user experience and lessen hate speech and trolling on the network.

Twitter has grappled with issues involving the transmission of false information and hate speech.

Musk thinks that an alternative to the existing centralized social media paradigm would be a decentralized platform.

He has already stated his support for decentralized financial systems and cryptocurrencies.