He is.
That was the plan all along.
Discussion
Credit issuance based on number of followers and blue tick 😂
But sadly sounds less exciting and more like a new logo, apparently
https://www.reuters.com/technology/elon-musk-says-twitter-change-logo-adieu-all-birds-2023-07-23/
One app to rule them all.
He’s attempting to create a US WeChat.
He did it before back like 20 years ago as X.com. Was related to PayPal somehow. I remember having the debit card. https://www.encyclopedia.com/economics/encyclopedias-almanacs-transcripts-and-maps/xcom#:~:text=X.com%20was%20created%20by,%2C%20mortgage%20lending%2C%20and%20bonds.
Wow.
Built up 100k users, similar to E*Trade numbers!
Yes, I’m familiar. I think X.com will be a bank.
He won’t call it a bank, but people will put their savings there and it will have a banking license.
He will lend the deposits to his companies, at some crazy leverage but a low rate, he will almost match JPM’s capital costs.
He will force all his employees to receive their salary in these accounts, as many banks do.
It will be a massive failure