Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.
Elon Musk Hints Alt App ‘X’ Is Coming – Says Buying Twitter Accelerates Creation Of X – Featured Bitcoin News
Tesla and Spacex CEO Elon Musk have hinted that “X, the Everything app” is coming. He explained that his purchase of the social media platform Twitter is an accelerator for the creation of X, which could beat three to five years of the project.
Elon Musk’s X – The Everything App
Tesla CEO Elon Musk has hinted at the creation of “X, the Everything app.” In response to a tweet about why he is buying Twitter, Musk wrote on Wednesday:
Twitter is an accelerator to fulfill the original X.com vision.
He similarly tweeted Tuesday that buying Twitter is “an accelerator to create X.” In a follow-up tweet, he said Twitter could accelerate X by three to five years.
This wasn’t the first time Musk mentioned X. In August, when asked if he had thought about creating his own social media platform if the Twitter deal doesn’t go through, the Tesla boss replied: “X.com.”
Someone pointed out on Twitter that the Tesla CEO is obsessed with the letter X. First, X.com was an online bank that Musk co-founded. It merged with competitor Confinity Inc. in 2000 and changed its name to Paypal. Musk bought back the domain name X.com from Paypal in 2015. The Tesla CEO has also created a few entities with “X Holdings” in their names, including “X Holdings I” and “X Holdings II” which he used in his bid to buy Twitter.
While Musk hasn’t revealed any details about X, he did share his vision for what he wants Twitter to become with Twitter employees in June. The Spacex boss compared it to Wechat, the Chinese app that mixes social media with payments, games and even ride messaging. Musk said:
There are no Wechat equivalents outside of China… You basically live on Wechat in China. If we can replicate that with Twitter, we will be a huge success.
He also complimented Tiktok’s algorithm for not being boring, and suggested that Twitter could be tweaked “in the same way to be interesting.” He further noted, “I think Twitter could be much better at informing people about serious issues.”
After months of trying to back out of the deal to buy Twitter over the number of fake accounts and spam bots, Musk has decided to follow through with the original $44 billion offer. His legal team told Twitter on Monday that the billionaire intends to end the deal to buy Twitter under certain conditions. Twitter then issued a statement:
We received the letter from the Musk parties that they have filed with the SEC. The intention of the company is to close the transaction at $54.20 per share.
What do you think about Elon Musk making X, the alt app? Let us know in the comments section below.
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