Elon Musk stated at a conference in Paris that he purchased Twitter Inc. due to the social network’s “corrosive effect” on civil society, which he hoped to ameliorate.
As part of a wide-ranging discussion at the VivaTech conference on Friday before a crowd of about 4,000 people, he stated, “My hope was to change that and have it be beneficial for civilization.” Musk stated that he believed the majority of frequent Twitter users would say their experience on the site has improved.
Musk also expressed optimism regarding the capacity of new CEO Linda Yaccarino to court advertisers. He stated that the network’s usage is at an all-time high and that “almost all the advertisers have either returned or will return.”
When Musk took over, advertisers fled Twitter out of concern for the type of content that would appear alongside their ads. Musk stated in March that Twitter’s advertising revenue has decreased by 50% since October. Twitter recently lost two executives tasked with ensuring the site is moderated for violence, hate speech, pornography, and other content that discourages businesses from promoting their products.
Musk appointed Yaccarino, a former advertising executive at NBCUniversal, to improve the company’s relationship with brands. He stated that she would do a “great job” addressing “advertisers’ concerns” regarding publishing advertisements on the social network.
Nonetheless, he joked about his $44 billion acquisition, “If I’m so smart, why did I pay so much for Twitter?”
Musk, who was interviewed on stage by ad industry veteran and Publicis Groupe SA Chairman Maurice Levy, reiterated his concerns about the perils of unchecked development of artificial intelligence.
“There is a significant risk that digital superintelligence will have negative effects,” the billionaire stated. The creation of artificial general intelligence could have catastrophic consequences if care is not taken.
While the technology, which he described as the “most disruptive ever,” could have positive outcomes, he emphasized that there is “absolutely a risk to the public” and that the technology should be regulated.
Musk additionally predicted that his Neuralink Corporation would perform its first human implant later this year. Last month, Neuralink announced that the US Food and Drug Administration had authorized it to conduct human clinical trials. Musk stated that the goal is to restore full-body function to a person who has lost it.
He had lunch with Bernard Arnault, the French billionaire who temporarily surpassed Elon Musk as the world’s wealthiest person, earlier on Friday. After investors sold luxury equities, Musk recently reclaimed his position as CEO and controlling shareholder of LVMH Moet Hennessy Louis Vuitton SE.
Musk also met with French president Emmanuel Macron, who has lobbied Musk to construct a factory in France. Before the meeting, Macron stated that he wished to discuss artificial intelligence, social media, and the regulatory framework for social networks.
