this post was submitted on 27 Oct 2023
690 points (86.1% liked)

Technology

59091 readers
3575 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
690
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 1 year ago by [email protected] to c/[email protected]
342 comments fedilink hide all child comments
 

“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!

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 8 points 1 year ago (3 children)

which is owned by paypal, which he already got out of..

[–] [email protected] 24 points 1 year ago (1 children)

And let's remind everyone because people seem to forget.

PayPal is NOT FDIC insured!

[–] [email protected] 7 points 1 year ago

I pretty much run everything through paypal for the extra layer of security.

It saved my ass when I was doxxed and hacked. I had my logins and financial information stolen.

I can totally see not putting more than a few thousand into the balance if you're going to use it like a secured credit card.

Otherwise, keeping $0 in it and using it as a middle man between your bank and the outside world is a fantastic solution to protecting yourself.

[–] [email protected] 13 points 1 year ago

Was forced out of after he almost tanked the company trying to do this exact thing.

What's the definition of insanity again?

[–] [email protected] 1 points 1 year ago

Yeah, it’s not an original idea. He’s recycling his ideas.