close_game
close_game

Elon Musk's X was supposed to be a bank, dating app and more by now: Report

Nov 04, 2024 08:04 AM IST

Elon Musk had said in an internal X meeting last year that it “would blow my mind” if X could also handle “someone’s entire financial life” by the end of 2024

Elon Musk's X (Formerly Twitter) was supposed to have been a bank by now, according to a report by The Verge.

Elon Musk's X (Formerly Twitter) was supposed to have been a bank by now
Elon Musk's X (Formerly Twitter) was supposed to have been a bank by now

The point of X supposed to have become a bank was a part of his two-part goals when he bought the social media platform in 2022, which included a goal to turn it into a “digital town square” and a goal to make it the “everything app,” according to the report which added that both of this hasn't happened yet.

Also Read: Jeff Bezos sells over $3 billion in Amazon shares, becomes 2nd richest person

Musk had said in an internal X meeting last year around this time that it “would blow my mind” if X could also handle “someone’s entire financial life” by the end of 2024, the report read.

For this, X is still developing a Venmo-like payments feature, having secured money transmitter licenses for processing payments in 38 US states which includes California.

However, approval is yet to come in other key states like New York.

Also Read: In Amazon’s Diwali sale, remium products dominate—Guess the top choices

How does this connect to the history of X?

This idea in many ways mirrors the original X.com (Now known as PayPal, the online payments service) which Musk co-founded along with Ed Ho, Harris Fricker, and Christopher Payne in 1999.

What used to be Twitter now uses this same domain which Musk bought back in 2022.

What are the other things X was supposed to have been by now?

Apart from a bank, X was also supposed to have been a dating service, an alternative to LinkedIn for recruiting, and a YouTube killer as well, according to the report.

Also Read: Adani, others invest 366 crore in Sagility India ahead of 2,107 crore IPO

Stay updated with the...
See more
Stay updated with the latest Business News on Petrol Price, Gold Rate, Income Tax Calculator along with Breaking News Events and Latest News Updates on Hindustan Times.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, December 05, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On