The World's Biggest ‘Free Speech’ Experiment Has Begun

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 27 April 2022

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. Elon Musk is officially buying Twitter. In today’s show, NLW argues that the debate and discussion around the move is largely focused on content moderation policies, when the more fundamental issue is the relationship of the advertising business model to what the algorithm prioritizes. Does Musk have the long-term view and the willingness to endure financial challenges to actually go after the root causes of Twitter’s problems? - From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Andrew Harrer/Bloomberg via Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Is there even the outside possibility that this becomes some truly quasi-philanthropic thing?
0:06.0	To the extent that Elon is serious about the high-minded ideas and believes that this is more important than just a corporation or a bottom line,
0:14.0	could he actually create something that is fundamentally different and more open from within this framework?
0:19.0	Welcome back to The Breakdown with me, NLW.
0:24.5	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:30.4	The breakdown is sponsored by nexus.io, Arculus, and FTX, and produced and distributed by CoinDesk.
0:38.2	What's going on, guys? It is Tuesday, April 26th, and today we are talking about the beginning
0:44.0	of the world's biggest free speech experiment. Briefly, before we get into that, if you are
0:49.6	enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or come join us on
0:54.9	the breakers Discord. It's where we chat about this topic and so many more, and you can find it at
0:59.5	bit.ly slash breakdown pod. Also a disclosure, as always, in addition to them being a sponsor
1:05.3	of the show, I also work with FTX. So after weeks of back and forth in speculation, Elon Musk has finally purchased Twitter.
1:15.6	Twitter and Elon have come to an agreement that will see Elon take the company private.
1:20.5	Last night, Twitter creator Jack Dorsey tweeted a thread. It started with a link to the radio head
1:26.0	song, everything in its right place. And from there,
1:28.6	Jack says, I love Twitter. Twitter is the closest thing we have to a global consciousness.
1:33.8	The idea and service is all that matters to me, and I will do whatever it takes to protect both.
1:39.0	Twitter as a company has always been my sole issue and my biggest regret. It has been owned
1:43.7	by Wall Street and the ad model.
1:45.9	Taking it back from Wall Street is the correct first step. In principle, I don't believe anyone
1:50.5	should own or run Twitter. He wants to be a public good at a protocol level, not a company.
1:55.6	Solving for the problem of it being a company, however, Elon is the singular solution I trust.
	...

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