Why Elon Is Buying Twitter: The Everything App
There is a reason Elon Musk is going through with the Twitter purchase. To understand it, we have to harken back to Musk's background with PayPal. He understands payment platforms and how big they can become.
In this video I discuss the idea of Musk turning Twitter into something much bigger than just a social media appliation. This is where he plans on deriving the true value of the platform from.
▶️ 3Speak
0
0
0.000
Elon has had an idea for an interplanetary payment system for quite some time and he has been talking about it. Twitter I believe will be pivotal to the idea as you stipulate in your video. The success of it I believe is quite slim. Let's look at how regulations have made Facebook Libra's development come to a halt. Though he has been able to make a successful payment platform before is not a guarantee for any future success. The world has changed and banks won't give in to the idea. But then if anyone will succeed, i believe he is the one.
I am sure the SEC will have a lot to say on the matter. I also don't think Twitter, with all its Bots will be a good fit.
Posted Using LeoFinance Beta
I forgot about the entire Paypal portion of Elon's history but it does make sense. A payment processor will slowly get phased out by the different ways to transact and having a messaging app tied into it will make things easier to keep users.
Posted Using LeoFinance Beta
Summary:
In this video, Task discusses Elon Musk's potential purchase of Twitter and delves into the motivations behind this move. Task speculates that Musk might be considering turning Twitter into a payment processing platform akin to PayPal, integrating elements of social media, finance, payments, and commerce into one application. Task highlights the potential impact on the tech industry if Musk succeeds in transforming Twitter in this manner, emphasizing the importance of understanding this potential development in the context of Web 3.0. The discussion touches upon the possibilities of incorporating cryptocurrency and DeFi into this envisioned platform and the implications for freedom of speech and financial control. Task expresses the opinion that Musk's background with PayPal gives him the expertise and vision to undertake such a transformation.
Detailed Article:
The video opens with Task exploring the rumored acquisition of Twitter by Elon Musk, questioning the rationale behind this move. Task raises concerns about the hefty $44 billion price tag attached to Twitter, especially given its lackluster stock performance over the past decade. Speculation arises regarding Musk's intentions, particularly his stated emphasis on freedom of speech as a driving factor for this potential acquisition. Task expresses skepticism about this justification being worth such a substantial investment.
Task presents a compelling theory that Musk may be looking to emulate the success of PayPal within Twitter, envisioning the platform as a multifaceted tool encompassing communication, finance, payments, and commerce. Drawing on Musk's involvement in the early days of PayPal, Task suggests that Musk's familiarity with payment processing could be pivotal in reshaping Twitter's functionality. The idea of transforming Twitter into a payment platform, possibly integrating cryptocurrency like Dogecoin, emerges as a plausible direction for Musk's vision. Task draws parallels to WeChat, illustrating how Musk could aspire to create an all-in-one application beyond conventional social media.
Furthermore, Task contemplates the implications of centralization within this hypothetical platform, highlighting concerns about true freedom of speech and financial autonomy. Despite the potential integration of financial services and DeFi infrastructure, the centralized nature of Musk's envisioned application could limit user control over their money and subject them to platform restrictions imposed by Twitter.
Task explores the broader significance of Musk's possible reimagining of Twitter, suggesting that it could transcend mere social media to encompass elements of e-commerce and marketplace functionalities. By integrating payment systems and commerce features, Twitter could potentially rival existing platforms like Amazon and eBay, revolutionizing the way users engage with online transactions. Task emphasizes the importance of considering Musk's background with PayPal in understanding his strategic direction for Twitter and the tech industry as a whole.
In conclusion, Task prompts viewers to contemplate the transformative potential of Musk's speculated acquisition of Twitter, framing it within the context of advancing technology and the transition to Web 3.0. By melding various digital functionalities into a single platform, Musk's vision for Twitter could pave the way for a new era in online interactions, blurring the lines between social media, finance, and commerce. Through this analysis, Task underscores the profound implications of Musk's strategy and the need for industry stakeholders to remain attuned to these potential paradigm shifts.