Elon Musk said Twitter’s rebrand to X is just a step toward turning the social media platform into what he’s called an “everything app.”
“The Twitter name made sense when it was just 140 character messages going back and forth—like birds tweeting—but now you can post almost anything, including several hours of video,” Mr. Musk added.
The Twitter owner vowed to add more features to the app soon.
“In the months to come, we will add comprehensive communications and the ability to conduct your entire financial world,” Mr. Musk added. “The Twitter name does not make sense in that context, so we must bid adieu to the bird.”
‘Remarkable Ecosystem’
Since taking over Twitter, Mr. Musk has implemented several changes. Now, content creators meeting certain criteria are eligible to get a share of the company’s advertising revenue. Users also get the option to get verified under Twitter Blue, an opt-in monthly subscription.“So Twitter becomes in a sense of finance app, you can have your money recorded on a part of Twitter, you can do transactions,” Mr. D'Souza said.
He added, “It could be that Elon Musk is sort of trying to put a lot of the banks out of business because banks after all have brick-and-mortar facilities, they have tellers, they charge money for transaction fees. And the idea here is that you remove all that—you bring all of that electronic, and you will have it all in one place.”
He predicted that Twitter would try to “consolidate people’s finance into a single app.”
If Mr. Musk could fulfill his ambitious plans for Twitter, Mr. D'Souza said there wouldn’t be any questioning about the Tesla chief having paid too much to buy the social media platform last year.
‘Good Model’
Mr. Musk actually shared his vision for Twitter months before he bought it.“If you’re in China, basically, you kind of live on WeChat,” Mr. Musk said. “It does everything—sort of like Twitter, plus PayPal, plus a whole bunch of things, and all rolled into one, with actually a great interface.”
“It’s really an excellent app, and we don’t have anything like that outside of China. Such an app would be very useful,” he added.
“When it comes to Musk’s ties to China, the evidence is irrefutable. After all, tens of thousands of Teslas are made in China every month. Moreover, Tencent Holdings, the company behind WeChat, has a sizable stake in Tesla,” Mr. Ghlionn wrote.
While a super-app offers great convenience, Mr. Ghlionn warned that there comes a cost.
“Imagine if hackers were to gain access to your super-app account. Everything from your private messages and photos to your bank account details would be exposed,” he explained.
“These are just some of the issues that a super-app could create. Musk wants to make X a reality, but we have every right to ask if we actually want to be part of his tech-fueled fantasy. I, for one, don’t.”