Billionaire investor Bill Ackman has expressed his admiration for Elon Musk’s X, formerly Twitter, while voicing concerns about TikTok’s influence on society.
What Happened: In an interview that was made public on Sunday, Ackman praised X as a platform that allows for diverse voices and immediate feedback, aligning with Musk’s vision of it as a new media.
He underscored the open nature of X, saying, “It’s the voice of the people! It’s not the curated voices of an owner of a media publication.”
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Ackman also shared his concerns about TikTok, particularly its impact on young women and girls. He underscored issues such as eating disorders and vaping, questioning TikTok’s role as a positive force.
“Put aside the China issues, I do think it’s not been a healthy thing for particularly young women and young girls,” he said referring to the experience he gained through his daughters who belong to the generation living in the TikTok era.
The discussion also touched on Ackman’s limited interactions with Musk, whom he admires for his ambitious goals aimed at benefiting humanity. He noted the skepticism surrounding Musk but believes his intentions are aligned with the greater good.
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Why It Matters: Earlier this month, Musk announced an “algorithm tweak” to reduce negativity on the X, aiming to improve user experience by maximizing “unregretted user-seconds.”
The change was seen in response to growing scrutiny of X and accusations about the app being a negative space. The effect of this algorithm adjustment on both the platform and its users is yet to be determined.
Meanwhile, as TikTok faces an uncertain future in the U.S., Jeff Bezos-backed Perplexity reportedly made a $50 billion bid to merge with the app.
Reports also suggest that Musk’s X could be a potential bidder, with Dan Ives thinking that the Tesla CEO could come out as the ultimate winner of TikTok's U.S. acquisition.
Additionally, concerns have been raised about Musk potentially acquiring TikTok, with some analysts warning it could negatively impact Tesla Inc. stock. This underscores the complex dynamics surrounding TikTok’s influence and ownership.
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