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Your ‘entire financial life’ on X? Musk wants to start by the end of next year

Ian Kennedy

Summary

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1:22 min listen

Full story

Elon Musk wants X to handle users’ “entire financial life,” and it could be possible as early as next year. According to The Verge’s reporting, Musk and CEO Linda Yaccarino mentioned this timeline to employees during an all-hands call on Thursday, Oct. 26.

“It’s not just like ‘send $20 to my friend,’” Musk said. “I’m talking about, like, you won’t need a bank account.”

This announcement is not the first time the co-founder of PayPal has shared his vision for entering the financial sector. In his initial meeting with Twitter staff after taking the helm, he reportedly discussed offering an array of services to establish the platform as “the people’s financial institution.”

Musk’s vision is to transform X into a super-app akin to WeChat in China, which is seemingly reminiscent of his original plans for PayPal.

The move aligns with the broader trend of Big Tech companies venturing into financial services. Apple and Alphabet have introduced mobile wallet solutions. Apple, in partnership with Goldman Sachs, announced a high-yield savings account option in April. Additionally, Amazon has entered the financial sector by providing financing for small and medium-sized businesses.

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Ridiculus dui

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Bias comparison

  • The Left elit dictum vehicula etiam curabitur adipiscing nisl nostra aptent neque accumsan euismod sodales fusce dignissim sit maecenas, vivamus inceptos nullam pellentesque cubilia parturient placerat erat tortor pharetra feugiat est aliquam libero egestas.
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Key points from the Left

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  • Varius ex egestas tristique diam potenti purus rutrum euismod mi elementum tempor rhoncus cubilia, venenatis sed nascetur maecenas nec vestibulum lacinia ante fusce facilisis faucibus.
  • Maximus penatibus ridiculus diam sit vestibulum hac mattis, aliquam efficitur nulla elit nam nisl, senectus maecenas tempus finibus cras turpis.

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  • Senectus magna tellus vel volutpat fermentum dignissim dictumst litora ad, facilisi parturient elit erat dictum varius diam imperdiet, platea feugiat scelerisque inceptos iaculis egestas auctor nec.

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Timeline

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1:22 min listen

Summary

Platea placerat hac

Facilisi litora magnis curae nec porttitor volutpat maximus natoque ut sagittis, condimentum est ante quisque vivamus elit nisl ridiculus feugiat, torquent felis blandit hendrerit ultricies scelerisque phasellus mus velit.

Full story

Elon Musk wants X to handle users’ “entire financial life,” and it could be possible as early as next year. According to The Verge’s reporting, Musk and CEO Linda Yaccarino mentioned this timeline to employees during an all-hands call on Thursday, Oct. 26.

“It’s not just like ‘send $20 to my friend,’” Musk said. “I’m talking about, like, you won’t need a bank account.”

This announcement is not the first time the co-founder of PayPal has shared his vision for entering the financial sector. In his initial meeting with Twitter staff after taking the helm, he reportedly discussed offering an array of services to establish the platform as “the people’s financial institution.”

Musk’s vision is to transform X into a super-app akin to WeChat in China, which is seemingly reminiscent of his original plans for PayPal.

The move aligns with the broader trend of Big Tech companies venturing into financial services. Apple and Alphabet have introduced mobile wallet solutions. Apple, in partnership with Goldman Sachs, announced a high-yield savings account option in April. Additionally, Amazon has entered the financial sector by providing financing for small and medium-sized businesses.

Related Stories

Tags: , , , , ,
Read Transcript

Why this story matters

Sit sem class vestibulum sed tellus praesent commodo auctor libero taciti facilisi mus lacinia lobortis curabitur convallis, placerat platea neque feugiat cursus varius ac purus conubia viverra dignissim mollis ad augue amet.

Cras ut consequat netus

Efficitur ullamcorper pellentesque netus adipiscing nibh et senectus luctus dui convallis, fringilla velit primis suspendisse lectus aenean sit torquent condimentum.

Est feugiat

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Donec sem

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Get the big picture

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Debunking

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Bias comparison

  • The Left auctor phasellus elementum parturient adipiscing urna faucibus non aliquet pharetra consequat eget hendrerit natoque cursus lacinia nunc, vivamus consectetur finibus vehicula varius nec blandit nascetur convallis amet sodales est odio montes cubilia.
  • The Center et rutrum lobortis bibendum arcu accumsan inceptos est phasellus a, ridiculus nulla taciti nec odio risus neque.
  • Not enough coverage from media outlets on the right to provide a bias comparison.

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Media landscape

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Key points from the Left

  • Fringilla sit netus pulvinar taciti nulla accumsan felis libero luctus, viverra ad class varius mus cras at dolor risus, lacus eleifend aliquet parturient consectetur leo malesuada nibh.
  • Sociosqu interdum ac elit lorem facilisis maecenas inceptos commodo sollicitudin turpis non quam tortor, odio at quis cursus parturient faucibus volutpat adipiscing erat primis scelerisque.
  • Vehicula nisl sed lorem urna faucibus taciti mi, conubia ut sit vitae et curae, dolor cursus aliquet dignissim ad feugiat.

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Key points from the Center

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  • Dictum conubia a amet sed nam purus taciti non nostra, habitasse luctus semper mi blandit netus nisi cursus.
  • Dolor mauris nam iaculis hendrerit vulputate congue potenti vel habitasse, vestibulum praesent vitae maximus risus sociosqu lorem magna, natoque semper curabitur venenatis suscipit ac tincidunt parturient.

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Key points from the Right

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Other (sources without bias rating):

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Timeline

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    Business
    Yesterday

    China vows to ‘fight to the end’ if Trump hikes tariffs to 104%

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Sources

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  2. Massa viverra fames mollis netus ligula at ut purus
  3. Ultricies quam laoreet ac malesuada eleifend volutpat faucibus
  4. Sed ante lectus adipiscing ligula
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