Ark Invest’s Cathie Wood is betting on Elon Musk’s plans for Twitter: ‘If anyone in the US can do this, I think he can’

Cathie Wood
Cathie Wood speaks on a panel at Miami’s Bitcoin 2022 convention.

  • Cathie Wood championed Elon Musk as Twitter’s CEO and endorsed his plans for the firm. 
  • “If anyone in the US can do this, I think he can,” the Ark Invest CEO and tech-stock guru stated.
  • Critics have taken goal at Musk as he overhauls the social-media platform he purchased this yr.

Ark Invest’s Cathie Wood talked up Elon Musk as CEO of Twitter, saying she’s in favor of his plans to make the social-media platform’s algorithm open supply. 

In a Tuesday interview with Bloomberg, Wood stated the Tesla and SpaceX chief is a great match for the job as he is aware of the right way to search recommendation and construct a great workforce.

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“If anyone in the US can do this, I think he can. I think he’ll surround himself with the right business leaders, he’s not going to do this himself,” she stated.

Wood welcomed Musk’s plan to make Twitter’s algorithm extra clear and transfer away from human moderators.

“Allowing people to question them is going to be very healthy,” she stated, including that she knew many individuals who stop Twitter as a result of they opposed its censorship coverage. 

“I actually like what he’s doing,” Wood stated about Musk. 

Musk has signaled he may make Twitter’s algorithm open supply, advocated that the platform ought to enable higher free speech, and proposed plans to type a “content moderation council.”

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His plans are a lot wanted in keeping with Wood, who stated Twitter “needed to be shaken up.” 

Wood’s bullishness on Musk, nevertheless, comes amid rising criticism in the direction of the tech magnate and the adjustments he’s made thus far. Just just a few days into his position, he introduced mass layoffs then appeared to remorse his choice and asked some employees to come back. He additionally launched a paid blue-check verification plan, then delayed launch on misinformation issues.

As properly as being a Musk fan, Wood is a longtime Tesla bull. In October, her fund loaded up on Tesla shares regardless of the electric-vehicle firm posting poor quarterly earnings. 

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