Elon Musk’s X aims to transform finance into a central hub.
Elon Musk's venture X (formerly Twitter) aims to position itself as a central financial hub, encouraging individuals to use X as their primary financial solution instead of traditional bank accounts for various financial needs.
According to reports, Elon Musk at the plenary meeting on October 26 expressed his vision to transform the platform into a financial hub to implement new features by the end of 2024.
Elon Musk envisions X as a comprehensive financial platform, covering all aspects of a user's financial life, from cash and securities to the importance of traditional bank accounts. According to reports, Elon Musk mentioned the creation of the PayPal platform during the meeting. Musk co-founded X.Com, originally conceived as a general finance platform, which was later acquired by PayPal, known for its payments application.
Future company talks will be streamed live so the public can watch
— Elon Musk (@elonmusk) October 27, 2023
Elon Musk seems to be taking a hands-on approach by overseeing all feature development and planning premium offerings for the iconic brand. The focus is not only on revenue generation, but also on positioning X as a versatile and versatile platform for users.
According to another report, Musk revealed that online platforms such as YouTube, LinkedIn and Cision PR Newswire are seen as potential competitors for X as it moves towards becoming a universal app.
Musk and Linda Yaccarino, CEO of X, have launched a newswire service called XWire as a competitor to Cision's PR Newswire. X is recognized as a premier platform for news development and discussions. Details and features of X's competing services on YouTube, LinkedIn and PR Newswire are uncertain.
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In a recent blog post, Linda Yaccarino discusses the progress and advancements the platform has made over the past year. She mentions popular products like community notes, audio and video calling, and the recent addition of a $1 payment feature to the platform.
In addition, on October 27, Elon Musk presented an update, X announced that the live-streaming company will check the possibility of discussions.
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