Even just him announcing a new platform would scare twitter investors. If successful it'd drive twitter even further down.
Paul Graham thinks he would be able to compete:
"It is obvious. It's also obvious that Elon could draw an initial set of users that was more than big enough to have sufficient network effects on day 1."
"You don't need to get everyone to switch right away. All you need, to start with, is a critical mass of users — enough so that people don't feel they're talking to a void. You'd very likely have that from the start. Then it grows."
Paul Graham thinks he would be able to compete:
"It is obvious. It's also obvious that Elon could draw an initial set of users that was more than big enough to have sufficient network effects on day 1."
https://twitter.com/paulg/status/1507782349924274180
"I'd try it the first day. Wouldn't you? Sum that pattern across Twitter, and you've got quite a lot of users on day 1."
https://twitter.com/paulg/status/1507855287130243085
"You don't need to get everyone to switch right away. All you need, to start with, is a critical mass of users — enough so that people don't feel they're talking to a void. You'd very likely have that from the start. Then it grows."
https://twitter.com/paulg/status/1507855750680428545