Twitter Bank

Elon Musk tells employees that Twitter will become a bank

Twitter offers banking services

Twitter's new owner Elon Musk1At the first employee meeting, he said that Twitter would become a bank and (international) payments company. It's like Paypal 2.0.

Elon Musk is the founder of online bank X.com2He founded PayPal in 1999 and merged it with confinitiy the following year, so it's a world he's familiar with. At the time, there was only email, but if there is a DM platform with so many users, he can make something better by using that as a base. Since he originally created a bank, he will also firmly connect with existing financial institutions. It will probably be almost transparent. It seems like it will be quite convenient as a platform for remittances and payments. If it becomes possible to use it for international remittances, it will have a big impact in many ways. However, KYC is an issue.

Twitter also offers a video service, giving creators better revenue opportunities

It also seems that they will be able to upload videos and long videos. Currently, the only way to upload videos is to put a link to them on YouTube, but they will be able to do it all on Twitter. And it seems that creators will be able to earn more than they can from YouTube. In terms of user experience, they seem to be thinking of something like TikTok.

About remote work

He also talks about remote work. In principle, employees will come to the office, but those who can perform well can work remotely. This policy is shared with Space X and Tesla.

For more information on the above, see The Verge's "Inside Elon Musk's first meeting with Twitter employeesPlease refer to ".

footnote

  1. Elon mask
  2. In 2017, Musk bought the domain X.com back from Paypal.

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