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brooklynite

(95,558 posts)
Fri Oct 27, 2023, 09:28 AM Oct 2023

Elon Musk gives X employees one year to replace your bank

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.”
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Elon Musk gives X employees one year to replace your bank (Original Post) brooklynite Oct 2023 OP
Oh, yeah... Hugin Oct 2023 #1
It almost makes me wish liberalhistorian Oct 2023 #8
I wonder how many people will trust their banking needs with twitter security under musk? JohnSJ Oct 2023 #2
I'm sure my former bosses are foaming at the... Hugin Oct 2023 #4
The same dipshits who give him $8 a month zuul Oct 2023 #18
LOL JohnSJ Oct 2023 #19
I hope the FDIC never insures that BS. NT Happy Hoosier Oct 2023 #3
No thanks Takket Oct 2023 #5
This is sort of an admission that ex-twitter Voltaire2 Oct 2023 #6
What could go wrong? lindysalsagal Oct 2023 #7
No thanks. I don't want Catturd involved in my finances. madinmaryland Oct 2023 #9
Elon has accomplished what seems impossible DBoon Oct 2023 #10
But why would anyone want it? XorXor Oct 2023 #11
Might as well light your money on fire. 617Blue Oct 2023 #12
My money is not going anywhere near that crazy town tinrobot Oct 2023 #13
Right.... because after he is singlehandedly destroying pinkstarburst Oct 2023 #14
Seems Legit. TheBlackAdder Oct 2023 #15
Ah yes, the return of the robber barons' company towns ... sanatanadharma Oct 2023 #16
So then he can take their money any time he wants? LiberalFighter Oct 2023 #17
Didn't Zuckerberg have the same idea for zuul Oct 2023 #20

Hugin

(33,411 posts)
4. I'm sure my former bosses are foaming at the...
Fri Oct 27, 2023, 09:36 AM
Oct 2023

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

(14,632 posts)
18. The same dipshits who give him $8 a month
Fri Oct 27, 2023, 01:33 PM
Oct 2023

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.

Takket

(21,892 posts)
5. No thanks
Fri Oct 27, 2023, 09:37 AM
Oct 2023

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

(13,687 posts)
6. This is sort of an admission that ex-twitter
Fri Oct 27, 2023, 09:49 AM
Oct 2023

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.

XorXor

(655 posts)
11. But why would anyone want it?
Fri Oct 27, 2023, 10:57 AM
Oct 2023

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

(1,313 posts)
12. Might as well light your money on fire.
Fri Oct 27, 2023, 11:00 AM
Oct 2023

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

tinrobot

(10,980 posts)
13. My money is not going anywhere near that crazy town
Fri Oct 27, 2023, 11:03 AM
Oct 2023

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

pinkstarburst

(1,331 posts)
14. Right.... because after he is singlehandedly destroying
Fri Oct 27, 2023, 12:31 PM
Oct 2023

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

LiberalFighter

(52,117 posts)
17. So then he can take their money any time he wants?
Fri Oct 27, 2023, 01:06 PM
Oct 2023

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

(14,632 posts)
20. Didn't Zuckerberg have the same idea for
Fri Oct 27, 2023, 01:37 PM
Oct 2023

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?

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