Elon Musk's Vision for X: Revolutionizing Finance and Management
Elon Musk plans to launch X's payments system by the end of 2024, aiming to encompass users' "entire financial life" on the platform. Musk's vision is to turn X into an all-in-one app for texting, calling, paying, shopping, banking, and posting online. While X's finances remain uncertain, Musk is determined to avoid bankruptcy and transform the platform into a bank. He has registered Twitter Payments LLC and expects to obtain money-transmitting licenses in the coming months. X is also moving towards launching a global payment system. Experts believe Musk faces challenges in gaining user trust and regulatory approval, but monetizing activity on X and incentivizing users to keep funds on the platform could help. Musk aims to realize the roadmap he initially wrote for PayPal in 2000 and believes X can become a powerful financial institution.
