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Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’ (www.theverge.com)

submitted 10 months ago by [email protected] to c/[email protected]

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“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!

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[–] [email protected] 422 points 10 months ago* (last edited 10 months ago) (57 children)

Just wait till Musk learns about banking regulations.
He's already complaining about the EU regulations on social media, but they nothing compared to what banks have to deal with.

[–] [email protected] 2 points 10 months ago (2 children)

Best he will do is another paypal/venmo thing. No way its gonna be a bank.

[–] [email protected] 3 points 10 months ago

I mean, he wanted Paypal originally (and to name it X), so this just seems like the end goal he was trying to get to the whole time.

And it will still crash and burn. Gloriously so.

[–] [email protected] 0 points 10 months ago

I wouldn’t trust this trust fund mafioso with a plastic spoon, let alone banking credentials.

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