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Elon Musk gives X employees one year to replace your bank (www.theverge.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 4 points 1 year ago

🤖 I'm a bot that provides automatic summaries for articles:

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Elon Musk wants X to be the center of your financial world, handling anything in your life that deals with money.

He expects those features to launch by the end of 2024, he told X employees during an all-hands call on Thursday, saying that people will be surprised with “just how powerful it is.”

“When I say payments, I actually mean someone’s entire financial life,” Musk said, according to audio of the meeting obtained by The Verge.

The company is currently working on locking down money transmission licenses across the US so that it can offer financial services.

“The X/PayPal product roadmap was written by myself and David Sacks actually in July of 2000,” Musk said on Thursday’s internal X call.

“And for some reason PayPal, once it became eBay, not only did they not implement the rest of the list, but they actually rolled back a bunch of key features, which is crazy.

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[–] [email protected] 4 points 1 year ago

Even if this wasn't Elon Musk, the very idea of your boss having control over your finances sounds dumb as a brick.

[Musk] "And for some reason PayPal, once it became eBay, not only did they not implement the rest of the list, but they actually rolled back a bunch of key features, which is crazy. So PayPal is actually a less complete product than what we came up with in July of 2000, so 23 years ago.”

"And for some reason not only they didn't implement a lot of my stupid ideas, but they reverted some of my dumbest takes that still went through. And 23 years later I still didn't learn."

[–] [email protected] 2 points 1 year ago

He's gonna fire a lot of employees in about a year.

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