Since Elon Musk (51) bought Twitter for $44 billion, there is no stone left unturned. Top executives are leaving the company, thousands of employees are being fired by email. And soon he begged to come back. pure chaos.
Final spin: US media reports on Musk’s secret plan: He wants to turn Twitter into a bank. He has already briefed on this at an internal meeting on Thursday evening. But how should a social media platform work as a bank? Credits are apparently scheduled for all accounts and the most profitable accounts on the market.
Management has already committed
Specifically: People should be able to send money on Twitter to anywhere in the world in real time. “This is a transformative opportunity for payments,” Musk says. Another new feature: For example, users should be able to pay for a video. Or pay for content behind paywalls.
Musk wouldn’t be Musk if he didn’t raise the bar. It has only one goal: Twitter must become the most profitable account. And “a high-yielding money market account, namely a Twitter loan, is the most profitable thing you can do.” So he dedicated the management to the new project.
Higher interest rates than the competition
Everything should be kept very simple. This will allow Musk to pay more interest than others. Or demanding lower debt interest than the competition. Just: Is the project legally enforceable? Musk is confident. After all, he already has relevant experience as a co-founder of Paypal. (pbe)