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Musk proposes turning Twitter into a bank to avoid bankruptcy

16 points by samizdis 4y ago

fullshark 4y ago
why did i click this clickbait headline, he just wants to add payments to twitter.
- seydor 4y ago
  > Musk repeated his top priorities, directing staff to envision a Twitter that works more like a financial institution, where digital payments are sent as easily as direct messages, creators can get paid more than they would on platforms like YouTube, and average users can generate higher interest on payments accounts held right there on Twitter. > “That’s definitely a direction we’re going to go in, enabling people on Twitter to be able to send money anywhere in the world instantly and in real time,” Musk confirmed, detailing plans to link debit cards to Twitter accounts and even issue checks to users so they can pay rent from their Twitter accounts. > “It sounds like more of a bank,” one employee noted. “Do you also foresee us loaning?” > Musk—who in the past two weeks has conducted business by riling key advertisers, threatening to diminish reach of Twitter’s top users' posts, and firing key staff in charge of key money-generating products—responded, “Well, if you want to provide a comprehensive service to people, then you can’t be missing key elements.”
uejfiweun 4y ago
Said it before, I'll say it again - Musk is no idiot and I think he's very much trying to kill Twitter on purpose. Has there ever been a CEO that's rocked the boat this much in the first 2 weeks? As for the reason, I can only speculate, but I think it's something to do with one of his previous tweets: "cancel cancel culture". And for that, I kind of hope he succeeds. I was reminded this week of how toxic Twitter is when looking at the Mick Gordon / Marty Stratton blowup. Thousands of people coming out of the woodwork and dogpiling to say Marty Stratton is a piece of shit, he should be fired, find his family, he deserves to die, etc. All because of a medium post. 99.99% of these people have never even met the guy. Is this really something we want in our society?
- TheLoafOfBread 4y ago
  You are looking for meaning where is none. Musk mismanaged Twitter because he does not understand its business. It's like seeing a kid playing with loaded Glock and accidentally removing safety and shooting itself into a foot.
seydor 4y ago
That's asking people to put their money where their mouth is. I don't know if he's ever seen twitterers

16 points by samizdis 4y ago

fullshark 4y ago

why did i click this clickbait headline, he just wants to add payments to twitter.

seydor 4y ago
> Musk repeated his top priorities, directing staff to envision a Twitter that works more like a financial institution, where digital payments are sent as easily as direct messages, creators can get paid more than they would on platforms like YouTube, and average users can generate higher interest on payments accounts held right there on Twitter. > “That’s definitely a direction we’re going to go in, enabling people on Twitter to be able to send money anywhere in the world instantly and in real time,” Musk confirmed, detailing plans to link debit cards to Twitter accounts and even issue checks to users so they can pay rent from their Twitter accounts. > “It sounds like more of a bank,” one employee noted. “Do you also foresee us loaning?” > Musk—who in the past two weeks has conducted business by riling key advertisers, threatening to diminish reach of Twitter’s top users' posts, and firing key staff in charge of key money-generating products—responded, “Well, if you want to provide a comprehensive service to people, then you can’t be missing key elements.”

uejfiweun 4y ago

Said it before, I'll say it again - Musk is no idiot and I think he's very much trying to kill Twitter on purpose. Has there ever been a CEO that's rocked the boat this much in the first 2 weeks? As for the reason, I can only speculate, but I think it's something to do with one of his previous tweets: "cancel cancel culture". And for that, I kind of hope he succeeds. I was reminded this week of how toxic Twitter is when looking at the Mick Gordon / Marty Stratton blowup. Thousands of people coming out of the woodwork and dogpiling to say Marty Stratton is a piece of shit, he should be fired, find his family, he deserves to die, etc. All because of a medium post. 99.99% of these people have never even met the guy. Is this really something we want in our society?

TheLoafOfBread 4y ago
You are looking for meaning where is none. Musk mismanaged Twitter because he does not understand its business. It's like seeing a kid playing with loaded Glock and accidentally removing safety and shooting itself into a foot.

seydor 4y ago

That's asking people to put their money where their mouth is. I don't know if he's ever seen twitterers