Elon Musk still plans to turn Twitter/X into a PayPal clone
Elon Musk’s vision for his social media platform, X (formerly Twitter), seems to be evolving as rapidly as rockets leaving Earth. What began as a microblogging site is now morphing into an “everything app,” borrowing features from Venmo, PayPal, and beyond. But is this ambitious plan a revolution in the making, or a chaotic flightpath destined for a fiery crash?
One major addition is the upcoming peer-to-peer payment service, announced in a vague blog post hinting at a 2024 “revolution.” Details are scarce, including the launch date and features. Considering Musk’s penchant for impulsive decision-making, these features might not even take flight.
However, X Payments is already registered in 32 states, suggesting a serious commitment to disrupting the banking industry. Musk’s experience as a PayPal co-founder lends credibility to this ambition.
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Beyond payments, X is aiming to enhance user experience with AI-powered search and ad improvements. The popular “See Similar Posts” feature will be bolstered, and a counterbalancing “See Dissimilar Posts” is on the horizon, promising to challenge users’ perspectives and expose them to diverse content.
Another notable move is X’s renewed focus on creators, addressing criticism from influencers like MrBeast about the platform’s lackluster monetization tools. Whether this translates into meaningful improvements remains to be seen.
The question surrounding X is clear: can it truly become the “everything app” Musk envisions? The answer is murky. Despite his grand plans, X’s current valuation is a staggering 71% below Musk’s purchase price. Simply adding features like peer-to-peer payments seems unlikely to rewrite this narrative.
In conclusion, X’s trajectory is uncertain. While Musk’s ambitions are undeniable, turning them into reality requires more than just throwing features at the wall. X needs to prove its value to both users and investors, or risk becoming a mere footnote in the annals of tech’s failed dreamers.
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