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’

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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 mentioned.
  • Critics have taken intention 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 mentioned the Tesla and SpaceX chief is match for the job as he is aware of easy methods to search recommendation and construct 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 mentioned.

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 mentioned, 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 mentioned about Musk. 

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

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His plans are a lot wanted in accordance with Wood, who mentioned 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 modifications he’s made to date. Just a couple of days into his function, he introduced mass layoffs then appeared to remorse his determination 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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