Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’
Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’
Musk wants your “entire financial life” on his platform.
“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
Well that sounds terrifying!
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I feel like at this point Muskys strategy with X is "well I own a software company now so we'll just make all the software" with literally zero understanding of the context or how that must work.
I think it's pretty telling in some of his comments about "well my space x engineers flew a rocket so they should know how to make a social media better than Twitter employees" as if those skills translate whatsofuckingever.
He has no idea how different types of software work, the context in which they'll be used, and has no fucking clue that you can't just upend the entire global financial institutions. But his devs flew a rocket so they should be able to drive a car, write social media software, write banking software, etc because those are all just easier.
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I'm with you on alot of this.
But Elon DID found PayPal. It's not like it's uncharted territory.
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In March 2000, Confinity merged with x.com, an online financial services company founded in March 1999 by Elon Musk, Harris Fricker, Christopher Payne, and Ed Ho.[12]
I think this quote proves the point I'm making.
Sorry for saying it was PayPal directly he founded, but it seems they pretty much bought the platform from Musk at put another label on it. (and ofc added to it)
Why do people claim he did. He didn't