Elon Musk's Vision for X: A Game-Changer in Financial Services
Elon Musk‘s plans for X, which seems to refer to a social media platform or application that he envisions as an all-encompassing tool for various aspects of people's lives, including financial transactions.
Financial Services via X:
Elon Musk held an all-hands meeting at X (formerly Twitter) and stated that he envisions X as a platform where people can carry out all their financial transactions. He believes that X will be able to handle anything financial by the end of 2024, indicating that it will not just be limited to basic payments but encompass all aspects of an individual's financial life.
Replacing bank accounts:
Musk's goal is for X to become so comprehensive that people won't need traditional bank accounts. He wants X to handle money, securities, and other financial aspects, eliminating the need for a bank account.
Subscription Method for New Users:
The report mentions that X will start charging new users for creating an account through a subscription method called “Not A Bot.” This move is aimed at reducing bot activity, spam, and manipulation on the platform. Users who don't wish to pay can still use the platform for free but with limited functionality.
Comparison to PayPal:
Musk also discussed PayPal at the meeting and stated that he envisions X as a more complete product for financial services than PayPal.
Linda Yaccarino's involvement:
X CEO Linda Yaccarino also participated in the meeting and made some announcements, although the specific details are not provided in the text.
It's important to note that it does not provide in-depth information about X or its features, and the content appears to be focused on Elon Musk's vision for the platform. Please keep in mind that the information might be subject to change, and it's advisable to refer to official announcements and updates for the latest details about X and its services.
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