Elon Musk gives X employees one year to replace your bank

[brooklynite]

The Verge

Elon Musk wants X to be the center of your financial world, handling anything in your life that deals with money. He expects those features to launch by the end of 2024, he told X employees during an all-hands call on Thursday, saying that people will be surprised with “just how powerful it is.”

“When I say payments, I actually mean someone’s entire financial life,” Musk said, according to audio of the meeting obtained by The Verge. “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.”

X CEO Linda Yaccarino said the company sees this becoming a “full opportunity” in 2024. “It would blow my mind if we don’t have that rolled out by the end of next year,” Musk said.

The company is currently working on locking down money transmission licenses across the US so that it can offer financial services. Musk told employees Thursday that he hopes to get the others X needs in “the next few months.”

[Hugin]

1. Oh, yeah...

That’ll end well.

[liberalhistorian]

8. It almost makes me wish

I were an X employee, just so I could have the pleasure of quitting!

[JohnSJ]

2. I wonder how many people will trust their banking needs with twitter security under musk?

[Hugin]

4. I'm sure my former bosses are foaming at the...

Mouth in anticipation to sign up. They’ve sunk every hook Musk has thrown their way and come back for more. ‘Cuz he’s being a jeenius!

[zuul]

18. The same dipshits who give him $8 a month

for a shitty blue check mark for an otherwise free website.

I have a Twitter account but I would hand out printed versions of my bank and credit card data to strangers on the street rather than give Space Karen a dime. He is a straight up crook.

[JohnSJ]

19. LOL

[Happy Hoosier]

3. I hope the FDIC never insures that BS. NT

[Takket]

5. No thanks

I’m going to entrust my entire financial life to a guy who is purposefully tanking 40 billion of investor money because he wants to turn Twitter into a right wing cesspool????

No thanks

[Voltaire2]

6. This is sort of an admission that ex-twitter

Has failed as a social media platform. If he had any sense he would cut his losses and either shut down ex-twitter or hold a fire sale. It might be worth a billion to some other shitty oligarch. Bezos could buy it just to irritate Musk.

[lindysalsagal]

7. What could go wrong?

Totally nuts.

[madinmaryland]

9. No thanks. I don't want Catturd involved in my finances.

[DBoon]

10. Elon has accomplished what seems impossible

He has made me really appreciate my bank

[XorXor]

11. But why would anyone want it?

I notice that he doesn't really explain what it does better than a real bank or any of the online pseudo-banks.

Everything he described are things I can do with my bank now.

[617Blue]

12. Might as well light your money on fire.

Start scouting out bridges to live under because that's where you'll be if you trust your dough to this grifter.

[tinrobot]

13. My money is not going anywhere near that crazy town

But he might trick a few of the remaining Doge coin owners to sign up.

[pinkstarburst]

14. Right.... because after he is singlehandedly destroying

Twitter and everything people used to love about it, people are going to hand over their banking information?

[TheBlackAdder]

15. Seems Legit.

.



.

[sanatanadharma]

16. Ah yes, the return of the robber barons' company towns ...

[LiberalFighter]

17. So then he can take their money any time he wants?

I bet he will require anyone using X to have their bank account with them. So he can charge more than $1 a year.

[zuul]

20. Didn't Zuckerberg have the same idea for

Facebook or Meta or whatever it’s called now?

It seems that traffic on Zuck’s site went down after he announced his grandiose plans. Why does Eloon think he could do better?