Tesla CEO Elon Musk announced this Saturday via his Twitter page that he is "seriously considering" building a new social media platform.

Musk's platform could be based on one open source algorithm and another that would prioritize free speech, with minimal advertising.

His tweet comes a day after he launched a Twitter poll asking users whether they believed Twitter adheres to the principle of free speech, to which more than 70% voted "No."

"The consequences of this poll will be important. Please vote carefully," he said on Friday.

Musk, a prolific user of Twitter himself, has been critical of the social media platform and its last-minute policies. He has said that the company is undermining democracy by not adhering to the principles of free speech.