Elon Musk gives X employees one year to replace your bank
www.theverge.com
Musk wants your “entire financial life” on his platform.

“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Well that sounds terrifying!

  • blackstampede@sh.itjust.worksEnglish
    657·
    11 months ago

    My girlfriend has a theory that he’s trying to destroy the platform deliberately. I disagreed with her until he renamed it to X lol

    • napoleonsdumbcousin@feddit.deEnglish
      853·
      11 months ago

      Just today there was a great comment by @Voroxpete@sh.itjust.works on why this does not make any sense.

      1. When you factor in the incredible damage done to the Tesla share price by the amount of stock he had to liquidate to finance the deal, and the almost billion a year in interest and operating costs the company is pulling out of him, the deal has, altogether, cost Musk about half of his net worth. No amount of petty childishness is worth that.
      1. He literally went to court to try to get out of the deal. What was his play here? To sue with the intention of failing? For what possible reason?
      2. If his plan was to kill Twitter, why would he attach his beloved X name to it? Musk has spent his entire life trying to make X happen. It is dearer to him than his own children. Why would he attach that brand to a company he’s intentionally sabotaging?
      3. If his goal is to kill Twitter, why is it still here? He owns the company outright. He took it private. There’s no board. There’s no shareholders. He doesn’t have a fiduciary responsibility. If he wanted Twitter dead, all he had to do was shut the doors, turn off the lights, and send everyone home.

      Anyone who buys into this “He’s trying to kill Twitter” nonsense, please, I am begging you, try to get your head around the fact that Elon Musk is not a smart man. This isn’t some incredible 4D chess play. Twitter isn’t failing because of intentional sabotage; it’s failing because Musk is genuinely trying his best, and his best absolutely sucks. He’s a bad businessman who lucked into a fortune he never deserved.

      https://sh.itjust.works/comment/4855307

    • jollyrogue@lemmy.mlEnglish
      16·
      11 months ago

      I don’t think he meant to. He’s just an idiot.

      Right wing control of Twitter was always my hypothesis, since, as people have pointed out, Twitter gave regular people access to people with influence. Destroying Twitter destroys that access, but it was more valuable as a tool to manufacture consent, like most media.

      • sock@lemmy.worldEnglish
        1·
        11 months ago

        to right wingers, failure is good as success

        think about it, trump is a godlike business man despite failing numerous times at all his businesses. he loses the election people still think he won. caught with nuclear codes giving them to enemy intelligence? it was probably a librul framing him.

        if x goes under people will say it’s part of musk’s master plan

    • MeetInPotatoes@lemmy.mlEnglish
      81·
      11 months ago

      Been saying that for a while now too. The people bankrolling him; Saudi Arabia and Russia, have a vested interest in seeing Twitter burn after the Arab Spring organized around it, and Ukraine found so much support on the platform. The thing is, he can’t directly run it into the ground without lawsuits so he’s doing it piece by piece.

    • ubermeisters@lemmy.worldEnglish
      22·
      11 months ago

      I honestly think Twitter and Reddit self imploded intentionally to remove our ability to congregate in places outside of the 1%'s control.