Elon Musk reportedly explored the idea of acquiring Substack in 2023, a year after his purchase of Twitter (now X).
The New York Times reported that Musk suggested the acquisition during a phone call with Substack chief executive Chris Best in April of that year. Musk entered the implementation of the change with the opinion that the blogging platform, which operates based on subscription, would be used in conjunction with Twitter’s paid-service, the Twitter Blue that the business mogul has been aggressively marketing.
Musk even offered Best a chief executive position in the proposed merged company. But at this, Best turned it down, which indicates the inclination of Substack for independence. Shortly after the discussion, Substack shifted its focus more deeply into the political sphere.
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Musk slammed Substack as a ‘Twitter clone’
Substack introduced a Notes feature in 2023, enabling contributors to share brief updates with their audiences. Musk was quick to criticize the addition, dismissing it as a “Twitter clone.”
Since Musk’s acquisition of Twitter, the platform has been framed as a “digital town square,” with Musk himself repeatedly promoting free speech as one of his primary motivations for purchasing the site.
The Tesla boss even lifted the ban on President-elect Donald Trump in 2022. However, this mission has faced competition, as Substack has established itself as a hub for political content and dialogue, especially in the lead-up to the 2024 US presidential election.
{{/usCountry}}The Tesla boss even lifted the ban on President-elect Donald Trump in 2022. However, this mission has faced competition, as Substack has established itself as a hub for political content and dialogue, especially in the lead-up to the 2024 US presidential election.
{{/usCountry}}Substack co-founder Hamish McKenzie reportedly described his aspirations for the election, stating he wanted it to be “the Substack election.” His vision appears to have materialized, with several prominent election commentators transitioning to the platform.
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Nate Silver, a top pollster and analyst, signed up with Substack after being dismissed from both ABC and FiveThirtyEight, thereby putting some serious credibility behind the platform's reputation.
Substack, which takes a 10% cut from its subscriptions, experienced a surge in searches for political accounts as the election cycle reached its peak.